ASIC bans former United Global Capital financial adviser Milutin Petrovic for six years
ASIC found that Petrovic failed key advice obligations when recommending clients to invest into financial products related to United Global Capital (UGC).
ASIC found that Petrovic failed key advice obligations when recommending clients to invest into financial products related to United Global Capital (UGC).
The Administrative Review Tribunal has upheld ASIC’s decision to ban United Global Capital (UGC) director Joel James Hewish for 10 years.
The Australian Financial Complaints Authority (AFCA) has stopped to accept new UGC complaints since May 31, 2025.
The AFCA board resolved at its April meeting to expel UGC as a member of the AFCA external dispute resolution scheme.
ASIC has cancelled the Australian financial services licence of Mr Hewish’s company, United Global Capital Pty Ltd (UGC).
ASIC has obtained interim orders from the Federal Court freezing the assets of financial advice licensee United Global Capital Pty Ltd.
ASIC has banned Sharree Grace Hutchinson, director of Funds United Pty Ltd, from providing financial services for six years.