Press Releases and Announcements - 19 August 2011
Blanshard jail term sends strong message to stockbrokers
National law firm Maurice Blackburn has today welcomed the six
year jail term (2 year non-parole period) for Robert Blanshard, who
pleaded guilty to misappropriating $4million of clients investments
while employed at BBY and Baillieu, a Sydney stockbroking firm.
Maurice Blackburn has represented the interests of a number
people who lost money as a result of Mr Blanshard's misconduct.
New South Wales managing principal Ben Slade said: "Maurice
Blackburn calls on stockbroking firms to accept
responsibility for the conduct of their employees. When criminal
conduct such as this occurs, the victims must be
compensated. The obligation to compensate should
be borne by those
who employ rogues. Stockbroking firms are
required by law to have adequate systems in place to make sure
this sort of thing does not happen. If the systems
fail, the stockbroking firms must accept responsibility for their
system failure."