ASIC bans former Wickham Securities chairman



The Australian Securities and Investments Commission (ASIC) has permanently banned Bradley Thomas Sherwin, a former chairman of collapsed Wickham Securities and founder of Sherwin Financial Planners, from providing financial services.
Sherwin was previously banned from providing financial services by ASIC for two years and seven months in 2013 as a result of an investigation conducted into the affairs of the Sherwin Group of companies and following his bankruptcy.
Additionally, he was charged in 2015 with 33 counts of dishonestly causing detriment totalling nearly $10 million between 2009 and 2012 and one count of dishonestly breaching his duties as a director of Wickham Securities between 2009 and 2012 by the Brisbane Magistrate Court.
Wickham Securities was first placed in administration in December 2012 and then put in liquidation in February 2013 along with a further seven companies associated with Bradley Sherwin, which went into administration at the beginning of 2013 and were subsequently placed in liquidation in February, 2013.
These companies were Sherwin Financial Planners (Sherwin), DIY Superannuation Services (DIY Super), Wickham Capital, Astor Funds, Reacroft, Blue Diamond Investments and SP Property.
Sherwin chose not to make any submissions to ASIC as to why he should not be banned.
He is also due to appear in the Brisbane Magistrates Court on 20 June for a committal hearing date.
Recommended for you
Wrapping up the reporting season for the 2024–25 financial year, Money Management rounds up the results of Australia’s listed platforms.
Investment platform Praemium has announced an integration with fund services firm Clearstream’s platform into Praemium Spectrum, expanding advisers’ access to global funds and greater operational efficiency.
Financial services firm Akambo has rebranded itself as an investment management and asset consulting business after almost two decades of operation, targeting $20 billion in assets under management.
Big four bank Westpac is seeking to expand the BT Panorama investment offering through strategic alliances as well as launching a low-cost offering.