ASIC has permanently banned Queensland based financial adviser Anass “Caesar’ Abdalla from providing any financial services, performing any function involved in the carrying on of a financial services business and from controlling an entity that carries on a financial services business.

ASIC found that Mr Abdalla as the general manager of the financial services licensee asked an authorised representative of the licensee, who was not working at the time, to sign documents misleading clients into thinking that personal advice had been provided by the authorised representative when it had not been.

Mr Abdalla’s conduct gave reason to believe that he lacks the fitness and propriety to provide financial services, or manage or control those who do.

Mr Abdalla has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Mr Abdalla’s banning is recorded on ASIC’s banned and disqualified register.

Editor's note:

On 25 July 2024, Mr Abdalla applied to the Administrative Appeals Tribunal for review of ASIC’s decision. ASIC was notified by the Tribunal of the application on 5 September 2024.