Failed firm Dover Financial Planning, and its sole director Terry McMaster, were convicted in the Federal Court of false and misleading conduct.

ASIC alleged Dover imposed a misleadingly titled "client protection policy" on its clients, which in fact offered greater protection to the firm itself.

In 2019, the industry still receives $2 billion each year in these dodgy commissions – for doing no work. But from 2021, these will finally be banned too.

Peter Xu failed to comply with financial services laws including best interests duty and the requirement to provide appropriate advice.

Victor Haisman provided inappropriate advice by recommending very high levels of insurance cover compared to the clients' income or by recommending life insurance policies to clients with no known dependants and no reasonable basis for the policies.

Unaware Australians are being convinced into dodgy real estate investments, and others are even encouraged to set up an SMSF to buy, often losing their life savings.

Brisbane Financial Advisor, Emma Radke has been banned, after being convicted of fraud.

Graeme Miller, former director of Australian financial services licensee CFS Private Wealth Pty Ltd and also CFS Corporation Pty Ltd (CFS), has been charged with dishonesty offences totalling $1.865 million.

Many of the investors were pensioners and were approached by telemarketing or word of mouth. Investors were convinced to borrow against their homes and were told that their money would be used to develop property in Tasmania. Instead, the money paid by investors was used to pay back interest owed to other investors, payments to employees, cash withdrawals and transfers to personal bank accounts.

Scammers will cold call victims claiming to be a stock broker or investment portfolio manager and offer a hot tip or inside information on a stock or asset that is supposedly about to go up significantly in value. They will claim what they are offering is low-risk and will provide quick and high returns.