ASIC has imposed a permanent ban on Kudzanai Philip Dzawo, a financial adviser based in Melbourne. The ban prohibits him from providing financial services, participating in financial services business activities, or managing entities involved in financial services.

This comes after ASIC found that Dzawo had dishonestly attempted to convince clients to transfer their superannuation into his personal bank account by making false and misleading statements.

ASIC concluded that Dzawo was unsuitable to provide financial services due to his track record of making false representations to clients, exceeding his authority with his licensee, failing to disclose his interest in recommended investments, and displaying significant deficiencies in honesty, integrity, judgment, trustworthiness, and professionalism.

Dzawo has the option to appeal this decision to the Administrative Appeals Tribunal. His ban has been recorded on ASIC's banned and disqualified register.

Dzawo was previously affiliated with Quadrant First Pty Ltd from April 2021 to November 2022 and Link Advice Pty Ltd from February 2018 to March 2021.

This information comes from the official ASIC media release on the 14th of May 2024 and is true at the time of publishing. To read ASICs media release click here.

Update - On 17 May 2024, Mr Dzawo applied to the Administrative Appeals Tribunal for a review of this decision.