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Former Advisor Permanently Banned from Providing Financial Services for Falsifying Exam Results

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The Australian Securities and Investments Commission (ASIC) has permanently banned Todd Calamian of Sydney from providing financial services and continuing to operate in financial services after he falsified the results of a financial advisor examination.

ASIC advised that in December 2021, Mr. Calamian changed his Financial Advisor Certificate from a failing result to a passing result and submitted the changed certificate to its licensee, Bluepoint Consulting Pty Ltd, which was subsequently provided to ASIC. I discovered that ASIC also found that Mr. Calamian provided personal advice to 11 of his retail customers between his December 31, 2021 and his September 9, 2022 dates.

ASIC representatives found Mr. Calamian to be neither competent nor the right person to provide financial services.

This ban prohibits Mr. Karamian from providing financial services, managing entities conducting financial services business, and performing functions related to conducting financial services business.

Mr. Calamian has the right to appeal to the Administrative Appeals Tribunal for review of ASIC’s decision.

Mr. Calamian’s ban is recorded on ASIC’s Bans and Disqualifications Register.

Former Advisor Permanently Banned from Providing Financial Services for Falsifying Exam Results

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Last updated: March 17, 2023

Publication date: March 17, 2023



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