The Courier-Mail

Fi­nance bro­ker gets per­ma­nent ban

- GLEN NOR­RIS Business · Australian Securities and Investments Commission · Administrative Appeals Tribunal · Rita Moreno

THE se­cu­ri­ties watch­dog has per­ma­nently banned a Bris­bane-based fi­nance bro­ker from op­er­at­ing a credit busi­ness af­ter ac­cus­ing him of pro­vid­ing a fake let­ter to a client.

The Aus­tralian Se­cu­ri­ties and In­vest­ments Com­mis­sion said Jef­fry Leonard Gor­don know­ingly or reck­lessly gave a false let­ter to a client stat­ing that the client had for­mally been ap­proved for a home loan with St Ge­orge.

At the time, there was no home loan ap­pli­ca­tion lodged on the client’s be­half with St Ge­orge.

ASIC also found that Mr Gor­don failed to com­ply with his obli­ga­tions un­der the National Credit Act to lodge an an­nual com­pli­ance cer­tifi­cate and main­tain a trust fund.

ASIC said Mr Gor­don had the right to ap­peal to the Ad­min­is­tra­tive Ap­peals Tri­bunal for a re­view of ASIC’s de­ci­sion. Mr Gor­don had held an Aus­tralian credit li­cence since Oc­to­ber 2011. ASIC can­celled that li­cence in May as a re­sult of Mr Gor­don ceas­ing to op­er­ate his credit busi­ness in early 2019.

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