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ASIC bans fraudulent Sydney broker

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Julia Corderoy | 19 May 2015, 09:53 AM Agree 0
ASIC bans Sydney broker due to loan fraud totalling $3.6 million
  • Clarke Kent | 19 May 2015, 01:38 PM Agree 0
    No bird time - very disappointing we as bona fide brokers carry this burden of her handiwork forever.
  • Dan - Melbourne | 19 May 2015, 01:58 PM Agree 0
    THERE WILL ALWAYS BE CROOK BROKERS - ALWAYS!....THERE WILL ALWAYS BE CROOK CARPENTERS, LAWYERS, PLUMBERS, POLICE, BANK MANAGERS - YOUR POINT IS??? It's called the HUMAN RACE!
  • Michael | 19 May 2015, 02:30 PM Agree 0
    Why only ten years? Should be a life ban. If she does reapply in ten years will be interesting to see if she gets re-accredited with a criminal record. We do not need this type of person in our profession.
  • Pepper Me Not! | 21 May 2015, 01:35 PM Agree 0
    Dan, you're right about human nature, but to answer your question - the point is, there needs to be adequate and stringent legislation to punish and discourage fraudulent operators, both brokers and other FSP's, from taking advantage of unsuspecting consumers. That is what we elect our political representatives to parliament to do. That they have failed us, is not an excuse but probably explains very well why Hockey and others are so reluctant to have a Royal Commission into the financial sector because if such an investigation were ever to be held, politicians from successive governments going back to the '80's would be shown to have been negligent in their duty of care to the Australian Public. They actually removed consumer protection legislation to allow this sort of thing to happen. It doesn't get worse than that.
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