I have spoken to a number of Australians who have lost millions to financial advisers who have acted inappropriately with their funds. This includes financial advisers who have been full-time…

I have spoken to a number of Australians who have lost millions to financial advisers who have acted inappropriately with their funds. This includes financial advisers who have been full-time employed by a financial advice firm, and financial advisers who act independently. I would like to know how many financial advisers ASIC has investigated in the past year, how many of those resulted in a ban, and exactly how many current investigations into the professional behaviour of financial advisers remain open right now? Also, how long does an investigation tend to take, and what does the process of an investigation entail? Do you speak to victims who have lost money in the process of an investigation?