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Former mortgage broker permanently banned by ASIC

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Australian Broker | 03 Dec 2012, 11:04 AM Agree 0
A former WA mortgage broker has been permanently banned from practicing by ASIC following a defrauding conviction involving $1.1 million
  • Keith of the West | 03 Dec 2012, 12:17 PM Agree 0
    ASIC blowing their trumpet once again!. This idiot would have been immediatley banned and loss of broker licence, well before the introduction of NCCP
  • Patrick | 03 Dec 2012, 12:58 PM Agree 0
    What did required licensing in WA and the upgrade to NCCP do to save the "investors" from losing their money? Because he was "licensed" they probably trusted him and did not check the veracity of the proposed investments. In this sense the compliance regime gave them a false sense of security. It seems he probably did not have an AFS licence and there was probably no proper PDS and no proper SOA. If consumers do not check the requirements of relevant legislation they are both victims of crime and victims of their own stupidity. When will the govermenet realise that you cannot save people from themselves.
  • Broker | 03 Dec 2012, 07:13 PM Agree 0
    Well Done ASIC, however that's your JOB...!!
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