Former Henderson Maxwell's CEO Sam Henderson sentenced

The NSW Local Court today announced the outcome of a lawsuit against Sam Maxwell Henderson, former chief executive officer, director and senior financial adviser of Henderson Maxwell Pty Ltd (Henderson Maxwell).

According to the Court, Mr Henderson was convicted of issuing defective disclosure documents and dishonest conduct and will enter into a recognisance bond to be of good behaviour for 2 years. He was fined $7000 and $3000 respectively, a total fine of $10,000.

On August 25, 2020, Mr Henderson acknowledged his breaches of section 1041G and section 952D(2)(a)(ii) of the Corporations Act 2001 (Cth).

During the period of July 1, 2010 and November 2017, Mr Henderson falsely stated that he held  a Master of Commerce, engaging in dishonest conduct.

Additionally, Mr Henderson delivered Financial Services Guide to two different clients in 2014 and 2016, with the false representations that he had a Master of Commerce(Financial Planning) while he did not hold that qualification.

Given Mr Henderson’s guilty plea, the judge applied a 25 per cent discount to the sentence.

Prior to this, Sam Henderson has been banned from providing financial services for three years following an Australian Securities and Investments Commission (ASIC) surveillance because he had failed to act in the best interests of his clients, provide appropriate advice and to prioritise his clients’ interests when providing financial advice.