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Yet another financial advisor banned for advising clients to borrow funds at a higher rate than the interest earned from the investments made with the funds

In the latest instance of a financial advisor failing to comply with financial services laws, Alec Khoo, an authorised representative of Professional Investment Services, has been barred from providing financial services for three years by the Australian Securities and Investments Commission (ASIC). Khoo was found by ASIC to have failed to establish a reasonable basis for his advice that clients…

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