ASIC bans former mortgage broker
A former mortgage broker and financial services representative has been permanently banned after engaging in dishonest conduct.
The ban comes after the Australian Securities and Investments Commission (ASIC) investigated the conduct of Edward Richard George when he was a broker operating under the name Quest Home Loans.
According to the investigation, on two occasions between March and July 2011, George falsified and submitted eight documents for four deposit guarantees and one home loan. The applications were for himself and four clients and the false documents included loan approval letters, employment letters and payslips.
George has the right to appeal to the Administrative Appeals Tribunal for a review of the regulator’s decision.
AUTHOR
Staff Writer
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