ASIC Permanently Bans Sydney Financial Planner Gavin Fineff


Australian regulator ASIC has imposed a permanent ban on Sydney-based financial adviser Gavin Fineff for misusing his position for personal gain.

June 8, 2021 | AtoZ Markets – The Australian Securities and Investments Commission (ASIC) has permanently banned Sydney-based financial adviser Gavin Fineff from providing any financial services, controlling a financial services business or performing any function involved in carrying on of a financial services business.

Mr Fineff was an authorized representative of Sentinel Wealth Management Pty Limited in Sydney, from 12 December 2011 to 20 March 2020. Mr Fineff was also a Responsible Manager under Sentinel’s Australian financial services licence from 12 November 2015 until 20 March 2020.

ASIC found Mr Fineff had misused his position for personal gain and as a consequence, deprived clients and others of their funds. Mr Fineff also engaged in misleading and dishonest conduct in that he sourced more than $5 million from clients and individuals as loans and, without their knowledge, gambled and lost a significant amount of those funds.

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ASIC also found Mr Fineff was providing financial services outside of his authorization from Sentinel and that he also acted in conflict, and competed, with Sentinel.

As a result, ASIC found Mr Fineff:

  • breached financial services laws by failing to act in the best interests of his clients and engaging in unlicensed conduct;
  • is likely to breach financial services laws in the future;
  • is not adequately trained or competent to provide financial services, perform any function as an officer that carries on a financial services business or control an entity that carries a financial services business; and
  • is not a fit and proper person to provide financial services, perform any function as an officer that carries on a financial services business or control an entity that carries a financial services business.

ASIC determined that a permanent banning of Mr Fineff is necessary to prevent future harm to clients of financial services businesses.

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

Mr Fineff’s banning will be recorded on ASIC’s publicly available Financial Advisers Register and the Banned and Disqualified Persons Register.

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