Lying to ASIC gets adviser banned
The Australian Securities and Investments Commission (ASIC) has banned a Tasmanian financial adviser for 18 months for giving false information while being questioned by the regulator.
Brendan Birch Mallory Moore of New Town, Tasmania, was convicted of giving false and misleading information to ASIC during an examination.
Moore is now unable to provide financial services for 18 months.
Moore was convicted in April 2007 in the Hobart Magistrates Court for making the false and misleading statements under oath during an examination conducted by ASIC.
In August last year ASIC handed down the 18-month banning on the grounds that the 2007 conviction was one of fraud for the purposes of the Corporations Act, a statement from the regulator said.
Moore then applied to the Administrative Appeals Tribunal (AAT) for a review of that decision.
On December 23 last year ASIC said “the AAT refused his application and affirmed ASIC’s decision to ban Mr Moore”.
Moore has now appealed the AAT decision to the Federal Court of Australia. The hearing of the appeal is to occur in the week beginning in early May in Hobart, ASIC said.
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