JACQUES BLANDIN FIRMWARE VISINC, perth, Australia Internet convicted by asic perth, Internet

JACQUES BLANDIN, JACQUES BLANDIN FIRMWARE VISINC, perth, Australia Internet

03-069 ASIC accepts enforceable undertaking from securities adviser 

The Australian Securities and Investments Commission (ASIC) has accepted an enforceable undertaking from Mr Jean-Jacques Pierre Georges Blandin De Chalain, a former proper authority holder, that he will not act as a representative of a holder of an Australian Financial Services Licence (AFSL) until 31 December 2012.

Mr Blandin has also agreed that after 31 December 2012, he will not act as a representative of an AFSL holder unless he has undertaken and successfully completed a course of study, namely, the Securities Institute of Australia Diploma of Financial Markets, or other equivalent course approved by ASIC.Mr Blandin, of Dianella, Western Australia, was a proper authority holder with Australian Financial Securities Pty Ltd during the period 19 November 1998 to 27 January 2000.

The undertaking was offered following an investigation into the activities of Mr Blandin, which found that Mr Blandin had made recommendations to his client that she invest $135,000 in companies with which he was associated or had an interest, without properly disclosing that association or interest to the client, in contravention of the Corporations Law.

ASIC also found that Mr Blandin did not have a reasonable basis for making those recommendations, and knew that his client would rely upon them.The conduct of Mr Blandin ultimately caused his client to sustain a loss of approximately $120,000 due to the insolvency of the company with which Mr Blandin was associated or had an interest.

Further, ASIC found that despite repeated requests from his client, Mr Blandin did not provide the trustee of his clients self-managed superannuation fund with a financial plan.    to download a copy of his conviction go to

http://www.asic.gov.au/asic/asic.nsf/byheadline/03-069+ASIC+accepts+enforceable+undertaking+from+securities+adviser?openDocument