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Professional Misconduct

Jenny Tu Quynh Tran


Address: Naremburn, Sydney, NSW, Australia
Sex: Female
Occupation: Financial adviser
Date: 7 December 2010


Details



ASIC has banned Ms Jenny Tu Quynh Tran of Naremburn, New South Wales from providing financial services for five years.

Ms Tran was banned after an ASIC investigation found that between 11 March 2002 and 7 July 2008 Ms Tran failed to comply with financial services laws by engaging in:



  • dishonest conduct by deliberately communicating false information to a client;

  • misleading or deceptive conduct in relation to client email accounts, resurrecting client trades and allocation of trades to suspense accounts;

  • misleading or deceptive conduct by not acting in accordance with client instructions which was likely to cause the client to erroneously assume instructions were being followed;

  • unauthorised discretionary trading; and

  • misleading or deceptive conduct in relation to the transfer of funds from Ms Tran’s company, Nirvana Shares Pty Ltd, to client accounts.



ASIC also found that Ms Tran’s failure to comply with financial services laws was deliberate and likely to mislead. Further, she showed a lack of compliance mentality.

Ms Tran and Nirvana Shares Pty Ltd were authorised representatives of StoneBridge Securities Limited and StoneBridge Futures Pty Ltd (StoneBridge Group), formerly called Tricom Equities Ltd and Tricom Future Services Pty Ltd.