Ban lifted but Caines job corrodes fast
Sydney Morning Herald
Saturday March 26, 2011
TITANIUM GROUP has denied offering the controversial financial planner Ronald Caines a job once he is released from a ban imposed by the corporate regulator.In a decision last week, the Administrative Appeals Tribunal deputy president Robin Handley said Mr Caines had been "offered a position" at Titanium.Titanium's operations manager, Ken Wagstaff, said it was "totally incorrect" to say the group had offered Mr Caines a job. "I can assure you that we have never offered Mr Caines a 'job' at the Titanium Group, nor will we be inviting him to join the group on spec."Last week's decision means Mr Caines will be free to resume working as a financial planner in August. The tribunal reduced to three years a lifetime ban imposed in 2008 by ASIC.Mr Caines had failed to disclose to clients a $500,000 loan from the head of failed investment fund Trio Capital.
© 2011 Sydney Morning Herald