The Australian Securities & Investments Commission (ASIC) has banned Melbourne-based financial adviser Louis Van Coppenhagen for seven years from providing financial services, controlling a financial services business, or performing any function involved in carrying on such a business. ASIC found that while authorised by MWL Financial Services Pty Ltd he gave inappropriate advice that was not in certain clients’ best interests, including recommending they invest most of their superannuation into the ‘High Growth’ or ‘Growth’ classes of the Shield Master Fund. ASIC also found that while authorised by United Global Capital Pty Ltd (UGC) he was instrumental in implementing UGC’s advice model, including preparing a template Advice Proposal Document, and noted ASIC had cancelled UGC’s licence for providing conflicted personal advice concerning highly speculative investments. The banning order took effect from 16 December 2025, has been recorded on ASIC’s Banned and Disqualified Register, and Mr Van Coppenhagen may seek review in the Administrative Review Tribunal. For affected consumers, ASIC pointed to complaints via the Australian Financial Complaints Authority (AFCA), including deadlines of 25 August 2026 for complaints relating to advice received from MWL and 31 March 2026 for complaints relating to advice received from UGC.

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