ob体育 has permanently banned Totem Wealth Pty Ltd director James Carlos Reynolds, of Robina, Queensland, from providing financial services.
From 2017 to the time of banning, Mr Reynolds was the sole director of Totem Wealth, an advisory firm that purported to offer 鈥榣ifestyle鈥� financial advice.
In banning Mr Reynolds, ob体育 found that his conduct demonstrated that he was not a fit and proper person to provide financial services or operate in any capacity within the industry.
ob体育 also found that Mr Reynolds lacked the honesty, integrity, professionalism and sound judgement expected of someone working in the financial services industry.
Mr Reynolds did not appear at the hearing and did not respond to ob体育鈥檚 concerns.
The ban permanently prevents Mr Reynolds from providing any financial service, controlling an entity that carries on a financial services business and performing any function involved in carrying on a financial services business.
Mr Reynolds has the right to appeal to the Administrative Appeals Tribunal for a review of ob体育鈥檚 decision.
The banning has been recorded on the Banned and Disqualified Persons Register.