Disgraced adviser Sam Henderson charged with dishonest conduct
Embattled celebrity financial adviser Sam Henderson is back in the spotlight for the wrong reasons after being charged with dishonest conduct and providing disclosure documents known to be defective.
The charges come off the back of an investigation into Henderson and his business by the Australian Securities and Investment Commission (ASIC) following the Hayne Royal Commission.
They allege Henderson claimed to hold a Master of Commerce degree, which was included in a financial services guide and displayed in various forms through his interactions with clients.
Henderson did not enter a plea. The case is set to be heard at the Downing Centre Local Court on August 4, 2020.
"ASIC is dedicated to improving standards across the financial services industry," says ASIC deputy chair Daniel Crennan.
"These charges demonstrate that ASIC will investigate allegations of breaches of the law by financial advisers when dealing with their clients, including allegations of giving inaccurate and dishonest information."
Henderson was the subject of a bad advice case study during the Financial Services Royal Commission. Then in July last year, he was banned by ASIC for three years for failing to act in the best interests of clients, which lost them money or put them at risk of losing money.
Henderson contributed to Money magazine until 2018.
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