RCD.0015.0003.0208

Public Results & Reports

Type of Inquiry Date Industry Sector Entity/Subject Name Misconduct identified Actions or outcomes MR Heading MR number Formal investigation (an investigation 2/11/2011 Funds Management - Responsible Equititrust Limited ASIC concerned that Equititrust in breach of a condition of its Obtained various interim orders in the 11-238AD ASIC obtains orders against 11-238AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes AFS licence requiring that it hold a minimum amount of net Supreme Court of constraining Equititrust Limited NCCP Act) tangible assets and has breached provisions of the the manner in which Equititrust is permitted Corporations Act 2001 (the Act) requiring that it lodge audited to operate the schemes. financial reports for EIF and EPCIF and audited reports of its compliance with the compliance plans for both EIF and EPCIF.

Formal investigation (an investigation 31/07/2015 Funds management - Responsible Mr David Anthony Ross, Mr Richard Albarran ASIC was concerned that the appointment of Messrs Ross and ASIC was successful in its proceeding, with 15-203MR ASIC takes action to remove 15-203MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes and Midland HWY Pty Ltd (Midland HWY) Albarran, as replacement administrators to Midland HWY, Messrs Ross and Albaran resigning as administrators of failed land banking NCCP Act) occurred in circumstances where many investors in administrators of Midland HWY. The Court company Hermitage Bendigo, who may also be creditors, were not given made orders by consent that the original notice of the first meeting of creditors. administrators, Messrs Martin and Crosbie be reinstated as administrators.

Formal investigation (an investigation 13/09/2010 Funds management - Other Empower Invest Pty Ltd, Newcastle Palais A declaration that the companies had breached the Ordered that investors in a managed 10-188AD NSW Supreme Court finds 10-188AD commenced pursuant to s13 ASIC Act or s247 Holdings Pty Ltd enforceable undertaking provided to ASIC on 9 May 2008. investment scheme operated by Empower enforceable undertaking was breached NCCP Act) Invest Pty Ltd and Newcastle Palais Holdings If the companies do not comply with the order, ASIC will Pty Ltd (the companies) be repaid within 28 consider making an application to have liquidators appointed. days of the order following action taken by ASIC.

Formal investigation (an investigation 11/12/2013 Credit - Credit intermediaries Hee Seng Lee False statements and false documents provided to to Criminal proceedings. 13-335MR Former mortgage broker convicted 13-335MR commenced pursuant to s13 ASIC Act or s247 secure home loan approvals. Defendant sentenced to 2 years of falsifying home loan applications NCCP Act) imprisonment to be served by way of an Intensive Correction Order (ICO) Formal investigation (an investigation 19/07/2010 Funds management - Other Brien Cornwell Breaches of an enforceable undertaking ASIC has started proceedings in the NSW AD10-157 ASIC seeks to enforce undertaking AD 10-157 commenced pursuant to s13 ASIC Act or s247 Supreme Court, seeking a declaration and NCCP Act) orders Formal investigation (an investigation 22/11/2017 Insurance - Sales practices AAMI Misleading advertising in relation to home insurance Administrative action. 17-398MRAAMI pays $43,200 for misleading 17-398MR commenced pursuant to s13 ASIC Act or s247 coverage. Ordered to pay penalty ($43,200) and amend advertising NCCP Act) its advertising. Formal investigation (an investigation 28/04/2016 Market participant & OTC issuers - All ABN AMRO Clearing Pty Ltd Failure to comply with the requirement to make enquiries Infringement notice issued - $45,000 16-126MR ABN AMRO Clearing Sydney Pty 16-126MR commenced pursuant to s13 ASIC Act or s247 through the ASX 24 Market message facility and wait the Ltd pays $45,000 infringement notice penalty NCCP Act) required period prior to entering orders for execution.

Formal investigation (an investigation 2/09/2011 Financial Advisers - Other John Vafiadis Provided unlicensed financial advice to investors. Sentenced today to 6 months imprisonment. 11-196AD Former Hobart financial adviser 11-196AD commenced pursuant to s13 ASIC Act or s247 jailed on ASIC charges NCCP Act) Formal investigation (an investigation 30/10/2013 Market participant & OTC issuers - All ABN AMRO Clearing Sydney Pty Ltd Failure to ensure that its Automatated Order Processing (AOP) Infringement notice issues - $130,000 N/A MDP-circular- commenced pursuant to s13 ASIC Act or s247 system had in place organisational and technical resources, 2013-08-1 NCCP Act) which interfered with the efficiency and integrity of the Market. Formal investigation (an investigation 27/06/2013 Funds Management - Responsible Jeremy Reid Director of a responsible entity of a number of managed ASIC accepted an EU under which he will not 13-157MR Former Everest CEO provides two- 13-157MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes investment schemes failed to disclosure to the RE company provide , hold an AFS licence year enforceable undertaking to ASIC NCCP Act) that the company had received redemption enquiries from and be employed by a financial services members of the scheme around the same time as related company for 2 years. parties had submitted redemption requests, and other dishonest conduct relating to the redemption requests.

Formal investigation (an investigation 28/10/2014 Market participant & OTC issuers - All ABN Amro Clearing Sydney Pty Ltd Failure to demonstrate prudent risk management procedures Infringement notice issued - $40,000 14-281MR ABN AMRO Clearing Sydney Pty 14-281MR commenced pursuant to s13 ASIC Act or s247 by not setting and documenting appropriate maximum price Ltd pays $40,000 infringement notice penalty NCCP Act) change limits as required. Formal investigation (an investigation 14/07/2015 Financial Advisers - Insurance advice Abhinav Gupta Dishonest conduct in relation to insurance, where client Administrative action. 15-184MR Former insurance advisor 15-184MR commenced pursuant to s13 ASIC Act or s247 details were used to enter into policies with authorisation and Permanent ban from financial services permanently banned NCCP Act) fictional policies were issued to receive volume bonus industry. commissions for the number of policies sold.

Formal investigation (an investigation 26/05/2017 Funds Management - Responsible Michael King As the responsible entity for Premium Income Fund , MFS Disqualified from managing corporations for 17-157MRQueensland Supreme Court 17-157MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Investment Management Limited and its directors and 20 years, pay a pecuniary penalty of imposes penalties on dishonest MFS officers NCCP Act) officers, were required to operate the fund with care and $300,000, pay $177,017,084 compensation to and funds manager diligence and in the best interests of the members of the fund. PIF and 60% of ASIC's costs. In breach of their duties, the directors and officers of MFSIM attempted to justify the use of the misappropriated funds by falsifying and backdating company documents during the period between November 2007 and February 2008. RCD.0015.0003.0209

Public Results & Reports

Formal investigation (an investigation 26/05/2017 Funds Management - Responsible Craig White As the responsible entity for Premium Income Fund , MFS Permanently disqualified from managing 17-157MRQueensland Supreme Court 17-157MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Investment Management Limited and its directors and corporations, pay a pecuniary penalty of imposes penalties on dishonest MFS officers NCCP Act) officers, were required to operate the fund with care and $650,000, pay $205,755,601 compensation to and funds manager diligence and in the best interests of the members of the fund. PIF and 70% of ASIC's costs. In breach of their duties, the directors and officers of MFSIM attempted to justify the use of the misappropriated funds by falsifying and backdating company documents during the period between November 2007 and February 2008.

Formal investigation (an investigation 26/05/2017 Funds Management - Responsible Guy Hutchings As the responsible entity for Premium Income Fund , MFS Disqualified from managing corporations for 17-157MRQueensland Supreme Court 17-157MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Investment Management Limited and its directors and 25 years, pay a pecuniary penalty of imposes penalties on dishonest MFS officers NCCP Act) officers, were required to operate the fund with care and $350,000, pay $28,738,517 compensation to and funds manager diligence and in the best interests of the members of the fund. PIF and 70% of ASIC's costs. In breach of their duties, the directors and officers of MFSIM attempted to justify the use of the misappropriated funds by falsifying and backdating company documents during the period between November 2007 and February 2008.

Formal investigation (an investigation 26/05/2017 Funds Management - Responsible David Anderson As the responsible entity for Premium Income Fund , MFS Disqualified from managing corporations for 17-157MRQueensland Supreme Court 17-157MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Investment Management Limited and its directors and 25 years, pay a pecuniary penalty of imposes penalties on dishonest MFS officers NCCP Act) officers, were required to operate the fund with care and $500,000, pay $205,755,601 compensation to and funds manager diligence and in the best interests of the members of the fund. PIF and 80% of ASIC's costs In breach of their duties, the directors and officers of MFSIM attempted to justify the use of the misappropriated funds by falsifying and backdating company documents during the period between November 2007 and February 2008.

Formal investigation (an investigation 26/05/2017 Funds Management - Responsible Marilyn Watts As the responsible entity for Premium Income Fund , MFS Disqualified from managing corporations for 17-157MRQueensland Supreme Court 17-157MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Investment Management Limited and its directors and five years, pay a pecuniary penalty of $90,000 imposes penalties on dishonest MFS officers NCCP Act) officers, were required to operate the fund with care and and 40% of ASIC's costs. and funds manager diligence and in the best interests of the members of the fund. In breach of their duties, the directors and officers of MFSIM attempted to justify the use of the misappropriated funds by falsifying and backdating company documents during the period between November 2007 and February 2008.

Formal investigation (an investigation 23/06/2017 Funds Management - Responsible Octaviar IHH Pty Ltd, Octaviar Investment ASIC was conceremnd that the companies were contravening Companies wound 17-202MRASIC obtains orders to wind up 17-202MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Holdings (No 3) Pty Ltd, Erskine House provisions of the Corporations Act 2001 (Cth) (Act), including Octaviar Group companies NCCP Act) Developments Pty Ltd and Sunleisure Pty Ltd the requirement for a proprietary company to have at least one director Formal investigation (an investigation 12/05/2016 Financial Advisers - SMSF advice Bradley Sherwin Previously banned for period of two years, being the Permanently banned from providing financial 16-136MR ASIC permanently bans Wickham 16-136MR commenced pursuant to s13 ASIC Act or s247 remaining period of bankruptcy. Dishonestly caused detriment services Securities Chairman NCCP Act) totalling nearly $10 million between and dishonestly breaching director's duties. Formal investigation (an investigation 2/09/2016 Funds management - Other Garth Robertson Dishonestly obtaining property and funds, giving or permitting CEO sentenced to a total of five years' 16-288MR Former Wickham Securities CEO 16-288MR commenced pursuant to s13 ASIC Act or s247 the giving of false information and imprisonment in respect of the 11 fraud jailed for five years NCCP Act) falsifying books and records. offences, to be suspended after 20 months for a period of five years. Formal investigation (an investigation 14/11/2017 Financial Advisers - SMSF advice Bradley Thomas Sherwin Fraud by dishonestly causing a detriment between May 2009 Sentenced in the District Court 17-385MRFormer Principal of Sherwin 17-385MR commenced pursuant to s13 ASIC Act or s247 and December 2012 to the value of nearly $10million to a today to a total of 10 years imprisonment on Financial Planners sentenced to 10 years NCCP Act) number of clients of Sherwin Financial Planners; and 25 charges imprisonment for fraud Breaching his duties as a director of Wickham Securities between June 2010 and October 2010 by falsely reporting nearly $4.5m of loans made by Wickham had been repaid

Formal investigation (an investigation 28/01/2016 Insurance - Sales practices ACE Insurance Limited, Tiger Airways Misleading promotional statements in relation to travel Negotiated outcome where ACE insurance 16-014MR ASIC stops misleading website 16-014MR commenced pursuant to s13 ASIC Act or s247 Pty insurance policies, claiming that the policies covered flight Ltd and Tiger Airways Australia Pty Ltd agreed advertising by ACE Insurance, Tigerair and NCCP Act) cancellations, amendements, loss of desposits and to remove misleading promotional Priceline cancellation charges. statements about ACE's travel insurance policies from their websites. RCD.0015.0003.0210

Public Results & Reports

Formal investigation (an investigation 30/09/2015 Financial Advisers - Insurance advice ACI Broking (WA) Pty Ltd Failed to lodge audited financial accounts for FY2013 and Cancelled the Australian financial services 15-274MR ASIC cancels ACI Broking WA and 15-274MR commenced pursuant to s13 ASIC Act or s247 FY2014 within the required timeframe and failed to report this licences (AFSL) of the following related related entities' AFS licences NCCP Act) breach to ASIC. companies •ACI Broking (WA) Pty Ltd (ACI Broking WA) •ACI Broking (Vic) Pty Ltd •Assent Insurance Services Pty Ltd •Aurora Underwriting Agency Pty Ltd

Formal investigation (an investigation 18/03/2016 Funds management - Other Barakah Properties Pty Ltd Concerns as to how the company raised funds to build a EU in which Barakah agreed 16-079MR ASIC accepts Enforceable 16-079MR commenced pursuant to s13 ASIC Act or s247 school. In particular the company •not to offer securities without providing the Undertaking from Company NCCP Act) •obtained funds without providing investors with the necessary disclosure to potential investors. necessary disclosure, and had exceeded the maximum number •not to purchase its own shares without of shareholders for a private company. following the correct procedures •The company’s representatives had made recommendations •to remove from its website any advertising to potential investors that may have amounted to providing of securities that required disclosure to financial advice without a license to give that advice. investors •The company had bought back its own shares without •that it and/or its representatives would not following the necessary share buy-back procedures. provide financial advice in the future without first obtaining a licence or authorisation. •to take the necessary steps to convert from a private company to a public one •write to all current investors alerting them to the EU and its terms.

Formal investigation (an investigation 30/09/2015 Financial Advisers - Insurance advice ACI Broking (Vic) Pty Ltd Failed to lodge audited financial accounts for FY2013 and Cancelled the Australian financial services 15-274MR ASIC cancels ACI Broking WA and 15-274MR commenced pursuant to s13 ASIC Act or s247 FY2014 within the required timeframe and failed to report this licences (AFSL) of the following related related entities' AFS licences NCCP Act) breach to ASIC. companies •ACI Broking (WA) Pty Ltd (ACI Broking WA) •ACI Broking (Vic) Pty Ltd •Assent Insurance Services Pty Ltd •Aurora Underwriting Agency Pty Ltd

Formal investigation (an investigation 23/07/2010 Funds management - Other Meloka Pty Ltd, Contango Investments Pty Ltd Possible operation of a Ponzi-style scheme, affecting more Orders appointing Mr Simon Wallace-Smith 10-163AD ASIC obtains orders to wind up 10-163AD commenced pursuant to s13 ASIC Act or s247 DIX-Walker Pty Ltd, Teronte Pty Ltd than 100 investors who have contributed in excess of $16 of Deloitte Touche Tohmatsu as liquidator of companies NCCP Act) Namrepus Pty Ltd million. The companies are associated with Mr Peter van de 13 companies. Arnah Pty Ltd Steeg, Mr Jonathan Ezzy, Mr Peter Berlowitz, of and Soteria Holdings Pty Ltd Mr Scott Walker, of Western Australia. Korlea Pty Ltd Solanah Pty Ltd Tiamah Pty Ltd Jameter Pty Ltd Proteus Distribution Pty Ltd Proteus Trading Pty Ltd.

Formal investigation (an investigation 30/09/2015 Financial Advisers - Insurance advice Assent Insurance Services Pty Ltd Failed to lodge audited financial accounts for FY2013 and Cancelled the Australian financial services 15-274MR ASIC cancels ACI Broking WA and 15-274MR commenced pursuant to s13 ASIC Act or s247 FY2014 within the required timeframe and failed to report this licences (AFSL) of the following related related entities' AFS licences NCCP Act) breach to ASIC. companies •ACI Broking (WA) Pty Ltd (ACI Broking WA) •ACI Broking (Vic) Pty Ltd •Assent Insurance Services Pty Ltd •Aurora Underwriting Agency Pty Ltd

Formal investigation (an investigation 30/09/2015 Financial Advisers - Insurance advice Aurora Underwriting Agency Pty Ltd Failed to lodge audited financial accounts for FY2013 and Cancelled the Australian financial services 15-274MR ASIC cancels ACI Broking WA and 15-274MR commenced pursuant to s13 ASIC Act or s247 FY2014 within the required timeframe and failed to report this licences (AFSL) of the following related related entities' AFS licences NCCP Act) breach to ASIC. companies •ACI Broking (WA) Pty Ltd (ACI Broking WA) •ACI Broking (Vic) Pty Ltd •Assent Insurance Services Pty Ltd •Aurora Underwriting Agency Pty Ltd RCD.0015.0003.0211

Public Results & Reports

Formal investigation (an investigation 14/01/2016 Financial Advisers - Insurance advice Wayne Rober Miller Involved in contraventions of financial services laws by ACI Banned Mr Wayne Robert Miller from 16-003MR ASIC bans ACI Broking WA director 16-003MR commenced pursuant to s13 ASIC Act or s247 Broking WA and related entities, including the failure to lodge providing financial services for four years. for four years NCCP Act) audited financial accounts for FY2013 and FY2014 within the required timeframe and the failure to report this breach to ASIC. Formal investigation (an investigation 27/04/2010 Insurance - Sales practices AEGON Direct Marketing Services Australia NA NA 09-184AD ASIC responds to concerns 09-184AD commenced pursuant to s13 ASIC Act or s247 Pty Ltd regarding ADMS Direct Marketing calls NCCP Act) Formal investigation (an investigation 20/04/2017 Market participant & OTC issuers - All Bingxing Hu Failed to comply with a financial services law by knowingly Banned Dr Bingxing Hu (Dr Hu), of 17-118MR ASIC bans former director of AFS 17-118MR commenced pursuant to s13 ASIC Act or s247 engaging in conduct that was likely to mislead in Melbourne, Victoria, from providing financial Capital NCCP Act) contravention of s1041H(1) of the Corporations Act. The ASIC services for five years. delegate also found that Dr Hu may not be adequately trained, or not competent, to provide financial services, having demonstrated by his conduct a disregard and a misunderstanding of the rules applying to the financial services that he was providing.

Formal investigation (an investigation 17/09/2010 Financial Advisers - advice ALOISI VINCE ASIC found that between January 2007 and 4 August 2009, Mr Mr Vince Aloisi of Baulkham Hills, New South 10-196AD ASIC bans Sydney financial adviser 10-196AD commenced pursuant to s13 ASIC Act or s247 Aloisi failed to comply with financial services laws by Wales, has been permanently banned from NCCP Act) •engaging in dishonest conduct by submitting or causing to be providing financial services by ASIC. submitted to AMP Life Limited (AMP Life), approximately 55 applications for life insurance and/or income protection insurance which were in the names of clients who were either not genuine, or in the name of individuals where there was no genuine intention to effect the insurance policies •engaging in misleading or deceptive conduct by submitting or causing the applications to be submitted which resulted in the payment by AMP Life of commission of approximately $700,000 which he then used for his own purposes.

Formal investigation (an investigation 28/11/2014 Financial Advisers - Other Dimitri Amargianitakis Dimitri Amargianitakis, as a director of Vista Capital Pty Ltd Banned from financial services - 8 years 14-318MR ASIC moves to protect public from 14-318MR commenced pursuant to s13 ASIC Act or s247 (Vista Capital), had As a result of an enforceable undertaking - unlicensed conduct NCCP Act) • carried on a financial services business without holding an agreed to manange a corporation for 18 Australian financial services (AFS) licence months • made investment recommendations to investors without holding an AFS licence, and • signed financial statements in circumstances where he knew that they were not accurate. Formal investigation (an investigation 1/12/2012 Funds management - Superannuation Tony Maher Created a conflict of interest by receiving undisclosed Permanently prevented from Australian 12-15MRFormer ARP Growth Fund operator 12-15MR commenced pursuant to s13 ASIC Act or s247 payments of more than $2 million arising from investments he financial services industry or managing a prevented from participating in financial NCCP Act) recommended. corporation. services, managing companies Formal investigation (an investigation 27/06/2014 Funds management - Superannuation Tony Maher Making false statements resulting in his business receiving Sentenced to 25 months jail 14-144MRFormer investment manager jailed 14-144MR commenced pursuant to s13 ASIC Act or s247 more than $500,000 in payments. NCCP Act) Formal investigation (an investigation 15/11/2016 Financial Advisers - Insurance advice Sergio Amaranti ASIC found that between 1 January 2009 to 9 November 2015, Permanently banned former insurance 16-387MR Former Perth insurance broker 16-387MR commenced pursuant to s13 ASIC Act or s247 Mr Amaranti engaged in misleading and deceptive conduct broker, Mr Sergio Amaranti, from the permanently banned from the financial NCCP Act) and dishonest conduct in relation to client funds, by directing financial services industry. services industry refunds owing from Phoenix to clients, totalling approximately $254,000 to various personal accounts held in Mr Amaranti's name. Funds were owing to clients as a result of refunds of insurance premiums from cancellations, adjustments or negotiated discounts by Mr Amaranti.

Formal investigation (an investigation 30/09/2015 Funds management - Other Shaun Morgan False claims to be able to raise capital, and counterfeit Removed as a company director following 15-275MR ASIC removes Shaun Gregory 15-275MR commenced pursuant to s13 ASIC Act or s247 cheques drawn on a fictitious bank - this was bank fraud in being automatically banned from managing a Morgan as company director NCCP Act) USA. corporation under the Corporations Act, after being convicted in US for an offence punishable by more than 12 months imprisonment. Formal investigation (an investigation 25/09/2012 Financial Advisers - SMSF advice Simon Turudia Engaged in misleading and deceptive conduct by manipulating Banned Mr Simon Turudia from providing 12-235MR ASIC bans Melbourne financial 12-235MR commenced pursuant to s13 ASIC Act or s247 rollover request procedures allowing his clients early access to financial services for six years. adviser for unlawful early release of NCCP Act) their superannuation savings. superannuation Formal investigation (an investigation 7/03/2016 Credit - Other AUSTRALIA AND NEW ZEALAND BANKING Breaching responsible lending laws in making offers of Penalties totalling $212,500. 16-063MR ANZ pays $212,500 penalty for 16-063MR commenced pursuant to s13 ASIC Act or s247 GROUP LIMITED overdraft facilities to its customers. breaching responsible lending laws when NCCP Act) offering overdrafts RCD.0015.0003.0212

Public Results & Reports

Formal investigation (an investigation 2/10/2014 Financial Advisers - Other Andy Kay Hooi Lim Induced an investor to make a cheque for $100,000 payable to Sentenced to 12 months jail, wholly 14-260MR Perth director sentenced on fraud 14-260MR commenced pursuant to s13 ASIC Act or s247 Andean Securities, contrary to the instructions in the suspended, and fined $10,000. charge NCCP Act) prospectus, with the intention that he would then use the Permanently banned from financial services $100,000 at his own will. Mr Lim then transferred these funds into his private and used them for a mixture of business and personal purposes that were unrelated to the IPO. Formal investigation (an investigation 9/07/2013 Funds management - Other Apex Derivatives Pty Ltd ASIC issued a Court application on 28 May 2013 seeking the Orders in the Federal Court on 28 June 2013 13-168MR ASIC winds up Apex Derivatives 13-168MR commenced pursuant to s13 ASIC Act or s247 company be wound up because Apex to wind up Sydney based retail derivatives Pty Ltd NCCP Act) issuer Apex Derivatives Pty Ltd. • was advertising through its website that it had an Australian Financial Services (AFS) licence, when it did not; • appeared to be insolvent; • had ceased all business operations; and • from February 2013, did not have a director resident in Australia.

Formal investigation (an investigation 29/10/2012 Market participant & OTC issuers - All Apple Investment Company Pty Ltd Failed to comply with financial services laws by making false or Banned Apple Investment Company Pty Ltd, 12-258MR ASIC bans Apple Investment 12-258MR commenced pursuant to s13 ASIC Act or s247 misleading statements to clients. of Queensland, from providing financial Company Pty Ltd for five years NCCP Act) services for five years. Formal investigation (an investigation 18/04/2008 Financial Advisers - Other Manickan Rasaratnam Krishnan Rasaratnam Concerned that the company, its directors and associates do Injunctions in the Supreme Court of New 08-79 ASIC obtains orders in relation to 08-79 commenced pursuant to s13 ASIC Act or s247 not hold the necessary Australian financial services licence and South Wales on 17 April 2008 restraining the unlicensed conduct NCCP Act) that investors were provided with information and assurances activities of two companies and individuals. that were misleading and deceptive.

Formal investigation (an investigation 23/12/2013 Financial Advisers - Other Krishnan Rasaratnam Mr Rasaratam, who was not licensed as a currency trader, Jailed for 3 years and 3 months on dishonest 13-360MR Former currency trader jailed 13-360MR commenced pursuant to s13 ASIC Act or s247 misappropriated investor funds by diverting those funds to his conduct and deception charges, after NCCP Act) personal trading account. As a result of the purported pleading guilty to one count of using a false investment activity by SAI investors incurred losses of more instrument and five counts of dishonest than $12 million. conduct in relation to providing a financial service. Formal investigation (an investigation 17/12/2012 Market participant & OTC issuers - All Robert Henley •failed to ensure that Apple did not make misleading Banned from providing financial services for 12-319 MR ASIC bans director of forex 12-319MR commenced pursuant to s13 ASIC Act or s247 statements in its website and brochure five years.banned Robert Clare Henley, promoter for five years NCCP Act) •failed to ensure that Apple provided a product disclosure director of Apple Investment Company Pty statement to all clients who required one Ltd, of Queensland, from providing financial •failed to ensure that Apple did not engage in referral selling services for five years. in relation to the FX Calibre product •failed to take an active role in ensuring Apple complied with its obligations as a provider of financial services •does not understand the duties and obligations of a provider of financial services. Formal investigation (an investigation 15/04/2015 Market participant & OTC issuers - All Anton Kerstens For a period of almost five months in 2012, Mr Kerstens was Banned Anton Kerstens of North Sydney from 15-078MR ASIC bans former securities dealer 15-078MR commenced pursuant to s13 ASIC Act or s247 involved in numerous dealings through his company, Ark providing financial services for five years. NCCP Act) Equities, which had the effect of supporting the price of Cauldron Energy shares at a time their price was falling. ASIC found that these dealing created a false and misleading appearance of the price for the shares in Cauldron Energy, and were intended to affect the trading behaviour of others in the market.

ASIC’s investigation also found that although some of Ark Equities’ clients genuinely wanted to accumulate shares in Cauldron Energy, Mr Kerstens’ dealings were not consistent with a legitimate strategy to buy the maximum amount of shares at the best price Formal investigation (an investigation 18/12/2015 Financial Advisers - Bank advice Darren Arnold Used his position as a bank manager to make unauthorised Permanently banned Mr Darren Jason Arnold 15-399MR ASIC permanently bans former WA 15-399MR commenced pursuant to s13 ASIC Act or s247 withdrawals from various bank accounts in a friend's name, from providing financial services and bank manager NCCP Act) totalling $515,000. engaging in credit activities. Formal investigation (an investigation 4/03/2009 Financial Advisers - Compliance & Tarandeep Singh Aujla While recommending to a number of clients that they replace Banned Sydney financial adviser, Mr Sydney financial adviser banned for 18 AD09-35 commenced pursuant to s13 ASIC Act or s247 supervision their existing AMP policies with newer ones, Mr Aujla Tarandeep Singh Aujla, from providing months NCCP Act) breached various sections of the Corporations Act. financial services for 18 months. RCD.0015.0003.0213

Public Results & Reports

Formal investigation (an investigation 8/11/2013 Credit - Credit intermediaries Daniel Duy Anh Nguyen, Ausfin Solutions Pty Provided false or misleading information relating to a sale Convicted after pleading guilty to five charges 13-306MR Former Woodville North mortgage 13-306MR commenced pursuant to s13 ASIC Act or s247 Ltd, Arndale Finance contract and rental appraisal letters provided in support of of giving false or misleading information to broker convicted NCCP Act) home loan applications on behalf of five of Mr Nguyen’s Banking Corporation (Westpac). clients. Received a four month suspended sentence and released on a recognizance that he be of good behaviour for 12 months.

On 16 October 2013 ASIC banned Mr Nguyen from engaging in credit activity and from providing financial services for a period of 4 years. On 18 October 2013 ASIC cancelled Ausfin's Australian credit licence.

Formal investigation (an investigation 9/12/2015 Market participant & OTC issuers - All Australian Investment Exchange Limited Failure to have automated filters or Market Vetting filters in Infringement notice issued - $130,000 15-372MR Australian Investment Exchange 15-372MR commenced pursuant to s13 ASIC Act or s247 place, and organisational and technical resources to manage Limited pays $130,000 infringement notice NCCP Act) these systems, which interfered with the efficiency and penalty integrity of the Market. Formal investigation (an investigation 2/07/2014 Financial Advisers - Insurance advice Christopher Vassallo Engaged in dishonest conduct and was not of good fame or Permanently banned Mr Christopher 14-147MR ASIC permanently bans Victorian 14-147MR commenced pursuant to s13 ASIC Act or s247 character for the purpose of providing financial services. Anthony Vassallo of Essendon, Victoria from insurance broker NCCP Act) providing financial services. Formal investigation (an investigation 2/12/2014 Funds management - Responsible William Lionel Lewski Breached directors’ duties by making an illegal related party William Lionel Lewski – disqualified for 14-323MR Prime Trust directors disqualified 14-323MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes payment of more than $30 million. managing a company for 15 years and fined and fined NCCP Act) $230,000

Mark Frederick Butler – disqualified for managing a company for 4 years and fined $20,000

Kim Jaques – disqualified for managing a company for 4 years and fined $20,000

Dr Michael Wooldridge – disqualified for managing a company for 2 years, 3 months and fined $20,000

Peter Clarke – was not disqualified from managing a company but fined $20 000 Formal investigation (an investigation 10/06/2011 Credit - Other Moshe Yair Mordechai History of serious fraud offences. Permanently banned Mr Moshe Yair 11-116AD Convicted company director 11-116AD commenced pursuant to s13 ASIC Act or s247 Mordechai, formerly of Glenwood, New permanently banned from credit and financial NCCP Act) South Wales, from engaging in credit services activities and financial services. Formal investigation (an investigation 2/12/2014 Funds management - Responsible Mark Frederick Butler Breached directors’ duties by making an illegal related party William Lionel Lewski – disqualified for 14-323MR Prime Trust directors disqualified 14-323MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes payment of more than $30 million. managing a company for 15 years and fined and fined NCCP Act) $230,000

Mark Frederick Butler – disqualified for managing a company for 4 years and fined $20,000

Kim Jaques – disqualified for managing a company for 4 years and fined $20,000

Dr Michael Wooldridge – disqualified for managing a company for 2 years, 3 months and fined $20,000

Peter Clarke – was not disqualified from managing a company but fined $20 000 RCD.0015.0003.0214

Public Results & Reports

Formal investigation (an investigation 2/12/2014 Funds management - Responsible Kim Jaques Breached directors’ duties by making an illegal related party William Lionel Lewski – disqualified for 14-323MR Prime Trust directors disqualified 14-323MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes payment of more than $30 million. managing a company for 15 years and fined and fined NCCP Act) $230,000

Mark Frederick Butler – disqualified for managing a company for 4 years and fined $20,000

Kim Jaques – disqualified for managing a company for 4 years and fined $20,000

Dr Michael Wooldridge – disqualified for managing a company for 2 years, 3 months and fined $20,000

Peter Clarke – was not disqualified from managing a company but fined $20 000 Formal investigation (an investigation 2/12/2014 Funds management - Responsible Michael Wooldridge Breached directors’ duties by making an illegal related party William Lionel Lewski – disqualified for 14-323MR Prime Trust directors disqualified 14-323MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes payment of more than $30 million. managing a company for 15 years and fined and fined NCCP Act) $230,000

Mark Frederick Butler – disqualified for managing a company for 4 years and fined $20,000

Kim Jaques – disqualified for managing a company for 4 years and fined $20,000

Dr Michael Wooldridge – disqualified for managing a company for 2 years, 3 months and fined $20,000

Peter Clarke – was not disqualified from managing a company but fined $20 000 Formal investigation (an investigation 2/12/2014 Funds management - Responsible Peter Clarke Breached directors’ duties by making an illegal related party William Lionel Lewski – disqualified for 14-323MR Prime Trust directors disqualified 14-323MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes payment of more than $30 million. managing a company for 15 years and fined and fined NCCP Act) $230,000

Mark Frederick Butler – disqualified for managing a company for 4 years and fined $20,000

Kim Jaques – disqualified for managing a company for 4 years and fined $20,000

Dr Michael Wooldridge – disqualified for managing a company for 2 years, 3 months and fined $20,000

Peter Clarke – was not disqualified from managing a company but fined $20 000 Formal investigation (an investigation 14/07/2016 Funds management - Responsible William Lewski Appealed against Justice Murphy's findings on liability (refer Trial judge should not have found that any of 16-225MR Full Federal Court upholds appeal 16-225MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Michael Wooldridge 13-339MR) that the directors had breached their duties as the former directors had contravened the by Prime Trust directors NCCP Act) Mark Butler officers of APCHL. APCHL was also found to have breached its Corporations Act as alleged by ASIC. As a Kim Jaques duties as responsible entity. result, the previous disqualifications and Peter Clarke pecuniary penalties imposed on the directors will be set aside.

Formal investigation (an investigation 17/12/2014 Market participant & OTC issuers - All Avestra Limited Breaching takeover laws Avestra’s interest in AG Financial Convicted and fined $40,000. 14-339MR Avestra Asset Management fined 14-339MR commenced pursuant to s13 ASIC Act or s247 increased from 0 to 22.17% through its acquisition of shares for breaching takeover laws NCCP Act) from AG Financial’s former chief executive, in breach of section 606. Over the following five months, Avestra broke the law by increasing its shareholding in AHA to 56.28 per cent. Following discussions with ASIC, Avestra divested most of its interest in AG Financial to bring it under the 20% threshold. RCD.0015.0003.0215

Public Results & Reports

Formal investigation (an investigation 27/10/2015 Funds management - Responsible Avestra Asset Management Ltd Concerns that Avestra had persistently contravened its duties The Federal Court appointed provisional 15-313MR Provisional liquidators appointed 15-313MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes in relation to a number of schemes, including to liquidators to Queensland based Avestra to Avestra Asset Management Ltd NCCP Act) •act in the best interests of scheme members Asset Management Ltd (Avestra) following an •exercise the required degree of care and diligence application brought by ASIC. •carry out duties under its financial services licence efficiently, honestly and fairly. Formal investigation (an investigation 16/05/2017 Funds management - Responsible Paul Rowles •the use of property of the Schemes to acquire substantial Disqualified from managing corporations and 17-140MR Federal Court disqualifies former 17-140MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes shareholdings in an entity related to Avestra without member restrained from providing financial services directors of responsible entity NCCP Act) approval; for a period of 10 years. •investment of the property of the Schemes into a wholesale fund which then made loans to related parties without member approval; •the investment of property of the Schemes into offshore schemes (the Bridge Global CMC Fund and Hanhong High- Yield Fund) without member approval. Formal investigation (an investigation 16/05/2017 Funds management - Responsible Clayton Dempsey •the use of property of the Schemes to acquire substantial Disqualified from managing corporations and 17-140MR Federal Court disqualifies former 17-140MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes shareholdings in an entity related to Avestra without member restrained from providing financial services directors of responsible entity NCCP Act) approval; for a period of 10 years. •investment of the property of the Schemes into a wholesale fund which then made loans to related parties without member approval; •the investment of property of the Schemes into offshore schemes (the Bridge Global CMC Fund and Hanhong High- Yield Fund) without member approval. Formal investigation (an investigation 24/11/2011 Financial Advisers - Other Stephen Avgouladakis The offences relate to representations made by Mr Sentenced to five years and eight months 11-267AD Melbourne man jailed on ASIC 11-267AD commenced pursuant to s13 ASIC Act or s247 Avgouladakis to investors between July 2008 and May 2009 imprisonment on 18 charges brought by ASIC. charges NCCP Act) that he would invest their money on the stockmarket but He will serve a non-parole period of three actually used the funds largely for purposes other than years and eight months. trading, including to pay purported interest payments to earlier investors and for personal expenses.

Formal investigation (an investigation 18/12/2012 Credit - Credit intermediaries Driss Doukari Provided false documents to Suncorp-Metway Limited in Permanently banned Driss Doukari from 12-321MR ASIC permanently bans former 12-321MR commenced pursuant to s13 ASIC Act or s247 support of a home loan application in his own name. The engaging in credit activities and from mortgage broker NCCP Act) documents included payslips and bank statements. providing financial services Formal investigation (an investigation 24/09/2013 Financial Advisers - Other James Banfield Submitted approximately 10-15 change of adviser forms to Enforceable undertaking (EU) which prevents 13-264MR ASIC accepts enforceable 13-264MR commenced pursuant to s13 ASIC Act or s247 Netwealth Investments Limited. These forms were submitted Mr James Thomas Banfield from providing undertaking from Melbourne adviser NCCP Act) on behalf of clients consenting to a transfer from Wealthsure financial services for four years. Pty Ltd to Lotus Securities Ltd in circumstances where the clients had not consented to the transfer.

Formal investigation (an investigation 16/12/2016 Funds management - Other Stewart Banks Mr Banks had acted dishonestly and engaged in misleading Permanently banned Queensland financial 16-444MR ASIC permanently bans former 16-444MR commenced pursuant to s13 ASIC Act or s247 and deceptive conduct under the Corporations Act. ASIC also adviser Mr Stewart James Banks, from the financial planner Stewart Banks NCCP Act) found that Mr Banks was not of good fame and character as Gold Coast, from providing financial services his conduct was dishonest and involved the betrayal of client and engaging in credit activity. trust, as well as deceiving PIS and the trustee of the superannuation fund.

Formal investigation (an investigation 22/12/2017 Deposit takers - Deposit products Patrick Godfrey Mr Godfrey contravened section 344(1) of the Corporations Pecuniary penalty of $25,000 and be 17-463MRCourt orders penalty against 17-463MR commenced pursuant to s13 ASIC Act or s247 Act. disqualified from managing corporations for former managing director of Banksia NCCP Act) a period of five years. Securities Limited Formal investigation (an investigation 4/02/2014 Credit - Other Home Essentials Australia Pty Ltd Engaged in unlicensed credit activities. Four businesses were ASIC accepted an EU, under which a 14-021MR Unlicensed rental companies enter 14-021MR commenced pursuant to s13 ASIC Act or s247 I Love My Water Pty Ltd involved in the hire and sale of water coolers and first aid kits community benefit payment of $250,000 is to into enforceable undertaking with ASIC NCCP Act) Triple Bay Group Pty Ltd using 'rent to own' agreements, targeting many vulnerable be made. Triple Bay Pty Ltd consumers including in remote areas in WA. Daniel Tarabay Teddy Tarabay Ronald Carabay RCD.0015.0003.0216

Public Results & Reports

Formal investigation (an investigation 5/08/2013 Financial Advisers - Insurance advice John Barr Engaged in misleading and deceptive conduct Permanently banned from providing financial 13-202MR ASIC permanently bans insurance 13-202MR commenced pursuant to s13 ASIC Act or s247 services. broker NCCP Act) Fabricated three insurance certificates, an insurance policy schedule and an email purporting to be from an insurance provider. Further, Mr Barr falsified another email, and made misrepresentations as to cover level.

The potential exposure that his clients faced as a result of his conduct was in excess of $40 million. He also put one client at risk of breaching the terms of their Australian financial services (AFS) licence Formal investigation (an investigation 26/07/2016 Market participant & OTC issuers - All Ryan Batros Placing "execution only" orders on the ASX that he had Banned former client adviser, Mr Ryan 16-236MR ASIC bans former client adviser for 16-236MR commenced pursuant to s13 ASIC Act or s247 received from clients to sell shares and options of Metals of Batros, of Melbourne, from providing five years NCCP Act) Africa Limited (MTA) when he was in possession of financial services for five years. information regarding an impending capital-raising by MTA. MTA subsequently announced the capital-raising in an announcement to the ASX on 3 September 2014.

Formal investigation (an investigation 21/03/2013 Insurance - Other Ronald Coshott Engaged in dishonest conduct between 15 October 2010 to 28 Permanently banned Sydney insurance 13-060MR ASIC permanently bans Sydney 13-060MR commenced pursuant to s13 ASIC Act or s247 March 2012 by broker, Mr Ronald Coshott, from providing insurance broker NCCP Act) financial services. •providing invoices to a client that specified insurance was in place when this was not the case

•emailing falsified insurance certificates to a client in March 2012 which represented insurance was in place when there had been no insurance in place since 2009

•including information in the falsified insurance certificates stating that Bay Pacific was a Lloyds of London cover holder when this was not the case; and

•representing to a client that he had contacted their current insurers who advised they were no longer able to provide insurance. It was found the insurance company had not been the client's insurer since their insurance was cancelled in 2009.

Formal investigation (an investigation 11/09/2014 Market participant & OTC issuers - All BBY Limited Failure to ensure that its Automatated Order Processing (AOP) Infringement notice issued - $90,000. 14-229MR BBY Limited pays $90,000 14-229MR commenced pursuant to s13 ASIC Act or s247 system had in place organisational and technical resources, infringement notice penalty NCCP Act) which interfered with the efficiency and integrity of the Market. Formal investigation (an investigation 23/05/2011 Financial Advisers - SMSF advice Robert Bean Defrauded more than $3 million from his clients over a seven Permanently banned from providing financial 11-104AD Financial adviser banned following 11-104AD commenced pursuant to s13 ASIC Act or s247 year period. services. $3m fraud NCCP Act) Formal investigation (an investigation 14/12/2012 Financial Advisers - SMSF advice Robert Bean Engaging in dishonest conduct in which he misappropriated Pled guilty to 52 charges brought by ASIC. 12-318MR Former North adviser 12-318MR commenced pursuant to s13 ASIC Act or s247 more than $3.1 million of client funds. pleads guilty to dishonesty charges NCCP Act) Formal investigation (an investigation 8/11/2017 Market participant & OTC issuers - All Sergio Belardo •engaged in unauthorised discretionary trading on multiple Banned from providing financial services for 17-374MRASIC bans former BBY financial 17-374MR commenced pursuant to s13 ASIC Act or s247 client accounts; ten years. adviser for ten years NCCP Act) •engaged in trading on client accounts that was inconsistent with, or contrary to, the investment strategy agreed in the Statement of Advice, or otherwise agreed with them; and •provided clients with inaccurate information in relation to their accounts. RCD.0015.0003.0217

Public Results & Reports

Formal investigation (an investigation 20/11/2017 Market participant & OTC issuers - Australian and New Zealand Banking Group Each of ANZ and NAB had attempted to engage in Australia and New Zealand Banking Group 17-393MRASIC accepts enforceable 17-393MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Limited unconscionable conduct in connection with the supply of (ANZ) and (NAB) undertakings from ANZ and NAB to address NCCP Act) financial services in attempting to seek to change where BBSW entered into enforceable undertakings (EUs) conduct relating to BBSW set on certain dates (in respect of ANZ, on 10 occasions in the with ASIC in relation to each bank's bank bill period 9 March 2010 to 25 May 2012, and in respect of NAB, trading business and their participation in the on 12 occasions in the period 8 June 2010 to 24 December setting of the Bank Bill Swap Rate (BBSW), a 2012). The Court also declared that each bank failed to do all key Australian benchmark and reference things necessary to ensure that they provided financial interest rate. services honestly and fairly. The Federal Court imposed pecuniary penalties of $10 million each on ANZ and NAB for the attempts to engage in unconscionable conduct in respect of the setting of BBSW. The Court also noted that each of ANZ and NAB will give EUs to ASIC which provides for them to take certain steps and to pay $20 million to be applied to the benefit of the community, and that each will pay $20 million towards ASIC’s investigation and other costs.

Formal investigation (an investigation 21/07/2014 Market participant & OTC issuers - The Royal Bank of Scotland PLC, The Royal RBS reported to ASIC that it had found evidence of conduct Enforceable undertaking from The Royal Bank 14-169MR ASIC accepts enforceable 14-169MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Bank of Scotland N.V seeking to influence its BBSW submissions, based on how the of Scotland plc and The Royal Bank of undertaking from The Royal Bank of Scotland NCCP Act) submissions may benefit RBS's derivatives positions. RBS had Scotland N.V. (RBS) in relation to potential withdrawn from the BBSW submissions panel on 30 April misconduct involving the Australian Bank Bill 2012. Swap Rate. RBS will also make a voluntary contribution of $1.6 million to fund RBS also reported to ASIC that it had found limited instances of independent financial literacy projects in communications discussing trading of Reference Bank Bills Australia. with reference to the setting of BBSW. The EU requires RBS to ensure its contribution to Australian interest rate benchmark settings is in accordance with its obligations under the United States Commodity Futures Trading Commission Orders. RBS is also required to undertake certain remedial measures with respect to its trading in Reference Bank Bills. An Independent Compliance Expert will be required to review and report on RBS’s compliance with the EU in respect of these remedial measures. ASIC will make public the outcome of that review.

Formal investigation (an investigation 28/01/2014 Market participant & OTC issuers - BNP Paribas BNP reported to ASIC that it had found conduct between 2007 Enforceable undertaking (EU) from BNP 14-014MR ASIC accepts enforceable 14-014MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks and 2010 that was indicative of seeking to influence its BBSW Paribas (BNP) in relation to potential undertaking from BNP Paribas NCCP Act) submissions, based on how the submissions may benefit BNP's misconduct involving the Australian Bank Bill derivatives positions. BNP remained a member of the BBSW Swap Rate (BBSW). submissions panel until a new methodology for calculating the BBSW was implemented on 27 September 2013. BNP will also make a voluntary contribution of $1 million to fund independent financial literacy projects in Australia.

The EU requires BNP to ensure its participation in relation to the setting of Australian interest rate benchmarks upholds the integrity and reliability of those benchmarks. RCD.0015.0003.0218

Public Results & Reports

Formal investigation (an investigation 20/11/2017 Market participant & OTC issuers - National Australia Bank Each of ANZ and NAB had attempted to engage in Australia and New Zealand Banking Group 17-393MRASIC accepts enforceable 17-393MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks unconscionable conduct in connection with the supply of (ANZ) and National Australia Bank (NAB) undertakings from ANZ and NAB to address NCCP Act) financial services in attempting to seek to change where BBSW entered into enforceable undertakings (EUs) conduct relating to BBSW set on certain dates (in respect of ANZ, on 10 occasions in the with ASIC in relation to each bank's bank bill period 9 March 2010 to 25 May 2012, and in respect of NAB, trading business and their participation in the on 12 occasions in the period 8 June 2010 to 24 December setting of the Bank Bill Swap Rate (BBSW), a 2012). The Court also declared that each bank failed to do all key Australian benchmark and reference things necessary to ensure that they provided financial interest rate. services honestly and fairly. The Federal Court imposed pecuniary penalties of $10 million each on ANZ and NAB for the attempts to engage in unconscionable conduct in respect of the setting of BBSW. The Court also noted that each of ANZ and NAB will give EUs to ASIC which provides for them to take certain steps and to pay $20 million to be applied to the benefit of the community, and that each will pay $20 million towards ASIC’s investigation and other costs.

Formal investigation (an investigation 13/04/2017 Credit - Other Lindsay Gordon Kobelt The Court found that Fined $167500 17-115MR Book up provider in South 17-115MR commenced pursuant to s13 ASIC Act or s247 •Mr Kobelt's system of providing book up was unconscionable; Injunctive orders requiring, amongst other Australian Indigenous community ordered to NCCP Act) and things, that Mr Kobelt return all the debit pay $167500 for exploitation of consumers •Mr Kobelt had engaged in unlicensed credit activity when cards in his possession to officers of ASIC who selling motor vehicles on book up (refer 16-383MR). arranged for the return of these cards to affected customers.

Formal investigation (an investigation 23/12/2013 Market participant & OTC issuers - UBS AG UBS reported to ASIC that it had found evidence of conduct Enforceable undertaking (EU) from UBS AG 13-366MR ASIC accepts enforceable 13-366MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks seeking to influence its BBSW submissions, based on how the (UBS) in relation to potential misconduct undertaking from UBS NCCP Act) submissions may benefit UBS' derivatives positions. In involving the Australian Bank Bill Swap Rate February 2013, UBS withdrew from the BBSW submissions (BBSW). panel. UBS will also make a voluntary contribution of $1 million to fund independent financial literacy projects in Australia.

The EU requires UBS to ensure its participation in relation to the setting of Australian interest rate benchmarks upholds the integrity and reliability of those benchmarks and are in accordance with its obligations under the Commodity Futures Trading Commission (CFTC) Orders.

Formal investigation (an investigation 5/04/2016 Market participant & OTC issuers - Westpac Banking Corporation Unconscionable conduct and market manipulation in relation Commenced legal proceedings in the Federal 16-110MR ASIC commences civil penalty 16-110MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks to Westpac's involvement in setting the bank bill swap Court in Melbourne against Westpac Banking proceedings against Westpac for BBSW NCCP Act) reference rate (BBSW) in the period 6 April 2010 and 6 June Corporation. conduct 2012. Formal investigation (an investigation 23/01/2014 Credit - Credit intermediaries Anthony Bergin Company submitted seven home loan applications worth $3.2 Banned Mr Anthony Bergin from engaging in 14-011MR ASIC bans key person and 14-011MR commenced pursuant to s13 ASIC Act or s247 million to a lender that contained false or misleading credit activities for 3 years. responsible manager from Melbourne credit NCCP Act) information, including false payslips. business Formal investigation (an investigation 23/02/2017 Market participant & OTC issuers - BGC PARTNERS (AUSTRALIA) PTY LIMITED Failure to comply with Rule 3.3.1A(1) and 3.3.2 of the ASIC Infringement notice issued - $90,000 17-042MR BGC Partners pays $90,000 in 17-042MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks MIR, relating to pre-negotiated business orders in the ASX 24 infringement notice penalty NCCP Act) futures market. Formal investigation (an investigation 13/07/2010 Market participant & OTC issuers - All Newton Chan Eight counts of market manipulation contrary to section 1041A Sentenced in the Supreme Court of Victoria AD10-156 Former broker sentenced to jail for AD 10-156 commenced pursuant to s13 ASIC Act or s247 of the Corporations Act and one count of providing false or to a term of 20 months imprisonment market manipulation NCCP Act) misleading information to ASIC contrary to section 64 of the (ordered to serve four months immediately, Australian Securities and Investments Commission Act. before being released on a recognisance release order). RCD.0015.0003.0219

Public Results & Reports

Formal investigation (an investigation 17/08/2009 Market participant & OTC issuers - Newton Chan Mr Chan had participated in market manipulation of shares in Banned Mr Newton Chan of Melbourne from AD09-147 ASIC bans Melbourne trader for AD09-147 commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Bill Express (now in administration). providing financial services for five years. five years NCCP Act) The investigation revealed that over a period spanning almost two years Mr Chan utilised multiple trading accounts at Macquarie Equities to place orders in Bill Express which had the effect of creating or maintaining an artificial price for in the stock.

It found that during this period Mr Chan also falsified order records by entering false names in Macquarie Equities’ electronic ordering system Formal investigation (an investigation 20/07/2017 Financial Advisers - SMSF advice Satvir Singh BIRK •was dishonest in that he ◦caused cheques to be drawn on a Permanently banned from providing financial 17-245MRASIC permanently bans Gold Coast 17-245MR commenced pursuant to s13 ASIC Act or s247 client's superannuation account without authorisation; services. financial adviser NCCP Act) ◦deceived some clients as to the use of funds withdrawn from their superannuation funds; ◦deceived another client as to the price at which units in an unlisted registered managed investment scheme had been sold for and as to the use of the proceeds of the sale, and used a portion of the proceeds for the benefit of Mr Birk's father;

•misled clients in relation to the value and other details of units they had purchased in an unlisted registered managed investment scheme.

Formal investigation (an investigation 19/11/2015 Credit - Credit intermediaries Simply Energy Solutions Pty Ltd SES marketed and sold solar panel systems that customers ASIC accepted an EU under which it was 15-347MR Consumers to receive refund after 15-347MR commenced pursuant to s13 ASIC Act or s247 could either pay for up front or via a five year instalment plan. required to reduce amount payables under ASIC accepts enforceable undertaking from NCCP Act) The price was the same whether the consumer paid up front existing contracts to the market value, among solar panel provider or by instalments. However, in setting the price, SES built in a other things. figure over and above the cash price for the goods. It did not have an ACL at the time of engaging in credit activities.

Formal investigation (an investigation 29/04/2013 Credit - Other Solar Rental Company Pty Ltd Entered into 239 rental agreements with consumers whilst not ASIC agreed to an EU which requires Solar 13-090MR ASIC accepts enforceable 13-090MR commenced pursuant to s13 ASIC Act or s247 holding an Australian credit licence. There were also concerns Rental to write to all affected consumers, undertaking from Solar Rental Company NCCP Act) that the rental agreements did not contain the disclosures providing them with disclosure required required under the National Credit Act. under the National Credit Act.

Formal investigation (an investigation 19/12/2013 Credit - Other SEL Absolute Return Fund SA Pty Ltd Engaged in unlicensed credit activity. Paid an infringement notice penalty of 13-353MR Solar panel company pays $27,500 13-353MR commenced pursuant to s13 ASIC Act or s247 $27,500. ASIC has accepted an EU requiring penalty, enters into enforceable undertaking NCCP Act) the company to cease certain advertising, cancel sale agreements under their current terms and conduct a review of its operations.

Formal investigation (an investigation 26/09/2008 Financial Advisers - SMSF advice Shaun Bond Mr Bond took part in two or more transactions that had the Banned by ASIC from providing financial AD08-27 ASIC bans Queensland financial AD08-27 commenced pursuant to s13 ASIC Act or s247 effect of creating an artificial price for units in Prime services for five years. planner for five years NCCP Act) Retirement and Aged Care Property Trust (PTN).

Mr Bond placed a sell order for 300,000 of PTN units on his own behalf at $1.00. He then placed a buy order which was subsequently amended on behalf of a number of clients of Strategic Wealth Advice Pty Ltd for 2.5 million PTN units at market price where the then trading price was $0.89. This buy order eventually met Mr Bond’s sell order. After Mr Bond’s units were sold, the existing buy order was cancelled.

Formal investigation (an investigation 10/08/2015 Credit - Credit intermediaries Australian Property Alliance Pty Ltd Published misleading advertisements in regard to obatining an 4 Infringement Notices totalling $42,000, 15-215MRPerth-based Nicheliving companies 15-215MR commenced pursuant to s13 ASIC Act or s247 Wealth WA Pty Ltd investment property that did not disclose the detailed conditions on Welath WA Pty Ltd penalised for misleading advertising NCCP Act) assumptions and qualifications which underpinned a negative gearing investment strategy, requiring the consumer to enter into a mortgage to finance the purchase of the property and to pay an upfront amount of $35,000. RCD.0015.0003.0220

Public Results & Reports

Formal investigation (an investigation 6/05/2013 Insurance - Other All Class Insurance Brokers Pty Ltd Company went into liquidation - RMG Partners was appointed AFSL Cancelled 13-100MR ASIC cancels licences of All Class 13-100MR commenced pursuant to s13 ASIC Act or s247 as liquidator of NSW-based All Class. ACL Cancelled Insurance Brokers NCCP Act) All Class’s AFS licence required that •it be able to pay all its debts, and •its total assets exceed its total liabilities. Formal investigation (an investigation 8/07/2013 Insurance - Other Leroy Bowmaker Concerns regarding Mr Bowmaker's conduct during his role as Permanently banned Leroy Bowmaker, 13-166MR Permanent ban for insurance 13-166MR commenced pursuant to s13 ASIC Act or s247 Managing Director of All Class, and ultimately found that he formerly Managing Director of All Class broker NCCP Act) was not competent to provide financial services. Insurance Brokers (All Class) from providing financial services. Formal investigation (an investigation 5/09/2014 Credit - Other Betar Prestige Cars Pty Ltd Engaging in unlicensed credit activity Infringement Notice - $42,500, refunfing 49 14-224MRCar dealer issued with $42,500 14-224MR commenced pursuant to s13 ASIC Act or s247 customers a total of $36,250 infringement notice and agrees to refund NCCP Act) consumers a further $36,250 Formal investigation (an investigation 7/05/2015 Credit - Credit intermediaries Siv Lim Submitted loan applications to Volkswagen Financial Services 3 year credit banning, ACL cancelled 15-105MRASIC bans Sydney finance broker 15-105MR commenced pursuant to s13 ASIC Act or s247 on behalf of Betar where Betar was not authorised to do so. and cancels licence NCCP Act) Formal investigation (an investigation 20/03/2015 Credit - Other Leroy Bowmaker ASIC's investigation found that Mr Bowmaker was not a fit and Permanently banned Leroy Bowmaker, 15-062MR Permanent ban for former 15-062MR commenced pursuant to s13 ASIC Act or s247 proper person to engage in credit activities because, between former director of All Class Insurance Brokers insurance broker NCCP Act) 2012 and 2013, he Pty Ltd (All Class), from engaging in credit •misused over $640,000 of client insurance premium funds activity. •made dishonest representations to underwriters to explain All Class' non-payment of client insurance premiums •failed to pass on over $330,000 in insurance premiums, meaning a client had no insurance in place and suffered loss when attempting to claim on the policy •submitted 12 false applications for loans to pay insurance policy premiums, where the insurance policies did not exist or were cancelled soon after the loan application was approved, and none of the loan funds received were actually used to pay for the insurance policies specified •lacked the competence to engage in credit activities •became bankrupt, in part, as a consequence of his involvement with All Class

Formal investigation (an investigation 14/12/2009 Financial Advisers - Compliance & Alan Leslie Brown Found that Mr Brown had not complied with financial services Permanently banned Mr Alan Leslie Brown, 09-251AD ASIC permanently bans Sydney 09-251AD commenced pursuant to s13 ASIC Act or s247 supervision law and that there was reason to believe that he would not of Lugarno NSW, from providing financial financial adviser NCCP Act) comply with this law in the future. services. Formal investigation (an investigation 4/11/2011 Financial Advisers - Compliance & Alan Brown Mr Brown fraudulently withdrew funds between July 2002 and Sentenced to three years imprisonment with 11-241AD Sydney financial adviser jailed for 11-241AD commenced pursuant to s13 ASIC Act or s247 supervision July 2008 totalling approximately $600,000 from five clients’ 21 months non-parole after pleading guilty to $600,000 fraud NCCP Act) accounts without their knowledge or authority. six charges brought by ASIC.

Mr Brown also forged a client’s signature on a falsified withdrawal request to obtain funds from the client’s account for his own purposes.

Formal investigation (an investigation 16/06/2015 Funds management - Superannuation BT Funds Management Ltd Misleading statements contained in the online advertising of BT Funds Management Ltd (BT) has paid 15-149MR BT pays $20,400 penalty for 15-149MR commenced pursuant to s13 ASIC Act or s247 BT Super. $20,400 in penalties. misleading statements NCCP Act) Formal investigation (an investigation 19/09/2011 Financial Advisers - Compliance & Victoria Cai Investigation found she conducted over 30 transactions Permanently banned a former Citibank 11-204AD ASIC bans former Citibank manager 11-204AD commenced pursuant to s13 ASIC Act or s247 supervision without client authorisation. manager from providing financial services. NCCP Act) Formal investigation (an investigation 6/09/2012 Credit - Other Nathan Elali Company advertising that it could provide credit despite being Court order to pay penalty of $7500. 12-217MR Director ordered to pay $7500 in 12-217MR commenced pursuant to s13 ASIC Act or s247 EasyChoice Home Loans Pty Ltd unlicensed. first civil penalty under National Credit Act NCCP Act) Formal investigation (an investigation 6/10/2017 Credit - Other Robert Legat Created and caused the FAF companies to implement the Banned from engaging in credit activities for 17-336MRASIC bans director of unlicensed 17-336MR commenced pursuant to s13 ASIC Act or s247 diamond model, which was designed to circumvent the 48% a period of three years following the penalty payday lender NCCP Act) legislative interest rate cap that would have been applicable to decision of the Federal Court on 10 March the loans. The Federal Court found that the diamond model 2017 was designed to conceal the true nature of the transaction, which was the provision of credit. As such the FAF companies should have held an Australian credit licence under the National Credit Act. RCD.0015.0003.0221

Public Results & Reports

Formal investigation (an investigation 25/03/2014 Credit - Other Franchelen Pty Ltd Franchelen and provided loans totalling $7 million to 49 ASIC accepted an EU under which Franchelen 14-057MR ASIC accepts enforceable 14-057MR commenced pursuant to s13 ASIC Act or s247 purchasers. These loans allowed buyers to complete their is required to limit its engagement in credit undertaking from Franchelen Pty Ltd NCCP Act) contracts At the time the loans were offered, Franchelen was activity to the management and finalisation unlicensed to engage in this type of credit activity. of its current loans, engage an independent consultant and cap interest payable at a certain rate.

Formal investigation (an investigation 8/02/2011 Market participant & OTC issuers - All Camelot Derivatives Pty Ltd, Mr Neil William On Thursday 3 February 2011, the Federal Court of Australia Interim injunctions against Melbourne-based 11-20AD ASIC obtains interim injunctions 11-20AD commenced pursuant to s13 ASIC Act or s247 King made orders, including interim orders, restraining Camelot derivatives dealer, Camelot Derivatives Pty against Melbourne-based derivatives dealer NCCP Act) and Mr King from Ltd (Camelot) and its sole director, Mr Neil William King, of Brighton. Camelot and Mr •making representations about returns on investments from King consented to these injunctions. options trading, and about Camelot’s experience and ability to show potential clients how they can achieve significant returns by investing in options;

•advising, recommending, or directly or indirectly soliciting or enticing any person who is not an existing client of Camelot or Mr King to invest in an options trading market; and

•advising, recommending, or directly or indirectly, causing an existing client of Camelot or Mr King to invest in an options trading market, except those trades which close existing positions.

Formal investigation (an investigation 23/04/2012 Market participant & OTC issuers - All Neil King In proceedings brought by ASIC against Camelot Derivatives Removed from the financial services industry 12-78MR ASIC obtains Federal Court order 12-78MR commenced pursuant to s13 ASIC Act or s247 Pty Ltd (in liquidation) (Camelot) and Mr King, the Federal for six years. banning derivatives trading director from NCCP Act) Court today found that providing financial services for six years

•Camelot was established as a trading vehicle for Mr King;

•Mr King and Camelot made representations to the public, including at investment seminars, about high returns earned by Camelot clients trading in options;

•in fact, between January 2008 and December 2009, 50 Camelot clients lost over $2.47 million while paying commissions of over $2.45 million; and

•in 2010 sixteen Camelot clients lost $982,432 while paying commissions over $1.03 million.

Formal investigation (an investigation 17/02/2009 Market participant & OTC issuers - All Peter Gordon Cameron ASIC found that a number of purchases of CLF shares made by Banned Mr Peter Gordon Cameron of Unley 09-21AD Former Tricom broker banned for six 09-21AD commenced pursuant to s13 ASIC Act or s247 Mr Cameron between 8 February 2007 and 25 January 2008 Park, South Australia, from providing years – SA NCCP Act) on behalf of Pegasus, RCM and a client were made to set or financial services for six years. maintain an artificial price for CFL shares, contrary to the anti- market manipulation provisions of the Corporations Act. ASIC also found that Mr Cameron made inaccurate records of instructions given to him by the client.

Formal investigation (an investigation 21/02/2011 Financial Advisers - Other Trevor Wayne Carll Mr Carll acted dishonestly and in breach of financial services Permanently banned by ASIC from providing 11-27AD ASIC permanently bans former Port 11-27AD commenced pursuant to s13 ASIC Act or s247 laws between 31 May and 26 July 2005 when he fraudulently financial services. Pirie financial adviser NCCP Act) caused two of his clients to sign third party security documents that resulted in the lodgement of over $900,000 of the clients’ retirement funds as security for a margin loan facility he operated.

Mr Carll’s actions resulted in the clients losing control of their retirement funds and suffering a financial loss of over $50,000. Negotiations are underway for the release of the clients’ funds and compensation for their financial loss. RCD.0015.0003.0222

Public Results & Reports

Formal investigation (an investigation 24/12/2012 Financial Advisers - Other Trevor Carll One count of deception and two counts of dishonest dealings Sentenced in the Adelaide District Court 12-332MR Former Port Pirie financial planner 12-332MR commenced pursuant to s13 ASIC Act or s247 with documents. today to two years in prison with a non- jailed NCCP Act) parole period of 13 months. Formal investigation (an investigation 7/03/2012 Credit - Other of Australia Concerns that a message sent to its internet banking enforceable undertaking (EU) from 12-40MR ASIC accepts enforceable 12-40MR commenced pursuant to s13 ASIC Act or s247 customers was misleading. Commonwealth Bank of Australia (CBA). undertaking from Commonwealth Bank NCCP Act) Under the EU CBA has agreed to •not rely on the consents obtained from customers on 12 and 13 December 2011, and •contact each customer who consented correcting any misleading impression and informing them of their rights.

Formal investigation (an investigation 30/08/2016 Credit - Credit intermediaries Peter Llewellyn Attempted to avoid the requirement to be licensed by Banned from engaging in credit activities for 16-281MR ASIC bans former director of 16-281MR commenced pursuant to s13 ASIC Act or s247 structuring short term loans to avoid the application of the a period of ten years. payday lender from credit activities for ten NCCP Act) National Credit Code. years Charged fees on short term loans which were in excess of the limits imposed by the National Credit Code. Formal investigation (an investigation 17/04/2012 Financial Advisers - Insurance advice Alan Charstone Found Mr Charstone engaged in dishonest and deceptive Permanently banned a former insurance 12-72AD ASIC permanently bans Victorian 12-72AD commenced pursuant to s13 ASIC Act or s247 conduct between August 2009 and July 2010 in relation to broker from providing financial services. man from providing financial services NCCP Act) business and personal insurance. Specifically, Mr Charstone failed to place adequate insurance cover for clients and misappropriated client funds.

Formal investigation (an investigation 6/12/2016 Credit - Credit intermediaries Paul Cheaib Engaged in misleading conduct by providing false income Permanently banned from engaging in credit 16-419MR ASIC permanently bans Perth 16-419MR commenced pursuant to s13 ASIC Act or s247 supporting documents to Westpac Banking Corporation activities. mortgage broker NCCP Act) Limited in support of home loan applications for three of his clients in 2015. Only one of the three loan applications was approved. Formal investigation (an investigation 21/01/2014 Market participant & OTC issuers - Citigroup Global Markets Australia Pty Ltd Failure to demonstrate prudent risk management procedures Infringement notice issued - $40,000 14-009MR Citigroup Global Markets Australia 14-009MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks by not setting and documenting appropriate maximum price Pty Limited pays $40,000 infringement notice NCCP Act) change limits as required. penalty Formal investigation (an investigation 29/06/2016 Credit - Credit intermediaries Jennifer Farias 3 counts of loan fraud which resulted in receiving more than Sentenced to a one-year intensive correction 16-209MR Former Sydney finance broker 16-209MR commenced pursuant to s13 ASIC Act or s247 $100,000. order. Also ordered to pay compensation sentenced to intensive correction order NCCP Act) totalling $100,000.00 to the credit provider for loan funds and commissions paid.

Formal investigation (an investigation 12/09/2016 Credit - Credit intermediaries Jennifer Farias Three charges of loan fraud. Permanently banned from engaging in credit 16-302MR ASIC permanently bans former 16-302MR commenced pursuant to s13 ASIC Act or s247 activities and providing financial services. Sydney finance broker NCCP Act) Formal investigation (an investigation 12/02/2013 Credit - Other Mr Rental Australia Ltd ASIC had concerns that the inclusion of a term allowing Mr ASIC accepted an EU including the 13-022MR ASIC accepts enforceable 13-022MR commenced pursuant to s13 ASIC Act or s247 Rental to charge a ‘calculation period adjustment’ (that is, an requirement that they provide refunds to undertaking from Mr Rental NCCP Act) additional fee charged to consumers who terminated their approximately 1,560 consumers and amend rental agreements early), was an unfair contract term under standard form rental contracts. the ASIC Act and Australian Consumer Law.

Formal investigation (an investigation 9/06/2017 Market participant & OTC issuers - Citigroup Global Markets Australia Pty Ltd Failure to comply with Rule 3.1.7(1) and 3.1.11 of the ASIC Infringement notice issued - $50,000 17-180MRCitigroup Global Markets Australia 17-180MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks MIR, relating to limitations on the disclosure of client orders, pays $50,000 in infringement notice penalty NCCP Act) pre-arrangement of trades, and the execution of trades to the exclusion of other market participants in relation to futures contracts RCD.0015.0003.0223

Public Results & Reports

Formal investigation (an investigation 21/09/2011 Funds management - Other Blair Jason Travers, CITY INDEX AUSTRALASIA Company holding out that it operates a mutual fund when it is Obtained urgent Federal Court orders to 11-207AD ASIC takes urgent action to 11-207AD commenced pursuant to s13 ASIC Act or s247 PTY LTD not licensed to do so. preserve investors’ funds. preserve investor funds promoted on NCCP Act) cityindexmutual.com website The court orders obtained by ASIC also prevent City Index Australasia Pty Ltd and Mr Travers from •receiving, transferring or disposing of any funds received or held by them in connection with the City Index Australian Mutual Fund; •disposing of, destroying, amending, altering or parting with possession of their books and record relating to the mutual fund or dealings of the Mutual Fund; and •taking or sending out of Australia any money, financial products or other property belonging to them.

Formal investigation (an investigation 25/06/2012 Funds management - Other Blair Jason Travers, CITY INDEX AUSTRALASIA A cold calling scam between 24 August 2011 and 16 12-137MR ASIC acts to stop cold calling scam 12-137MR commenced pursuant to s13 ASIC Act or s247 PTY LTD September 2011. The company promoted investments in and obtain compensation for investors NCCP Act) financial products by cold calling investors who in turn were About $38,000 of investor funds, previously directed to false financial product information contained on a frozen following ASIC action, will be website cityindexmutual.com. At no time did CIA hold an distributed to investors on a pro-rata basis. Australian financial services (AFS) licence which is required under the Corporations Act. The Federal Court made declarations that CIA made false representations to investors and engaged in dishonest and misleading and deceptive conduct.

CIA and Mr Travers (its director) were ordered to remove all material used to promote the scam and were barred from the financial services industry for ten years.

Formal investigation (an investigation 22/10/2012 Market participant & OTC issuers - All City Index Australia Pty Ltd Statements made by City Index on its webpage and in an Infringement notices issued - total of $13,200 12-256MR City Index Australia pays 12-256MR commenced pursuant to s13 ASIC Act or s247 electronic newsletter. ASIC alleged these statements were in infringement notice penalties NCCP Act) breach of prohibitions in the ASIC Act relating to false or misleading representations and misleading conduct in relation to financial services. Formal investigation (an investigation 10/04/2013 Market participant & OTC issuers - All City Index Australia Pty Ltd The following deficiencies in the company's business Acceptance of enforceable undertaking (EU). 13-076MR ASIC review prompts City Index 13-076MR commenced pursuant to s13 ASIC Act or s247 Under the EU, CIA must appoint an Australia into enforceable undertaking NCCP Act) •weaknesses in its client money handling arrangements independent expert to review its business •weaknesses in its controls to ensure compliance with its and develop a plan to rectify the deficiencies. adjusted surplus liquid funds requirement The independent expert will report regularly •weaknesses in change management to ASIC for the next 18 months on CIA’s •inadequate oversight of outsourced functions implementation of the plan. •an ineffective internal audit function •weaknesses in its controls around its public statements •inadequate training and education of staff, and •ineffective internal reporting procedures to ensure timely escalation of issues to senior management.

Formal investigation (an investigation 24/06/2009 Funds management - Other Mark Clough Engaged in dishonest conduct by receiving a total of $43,500 Permanently banned from providing financial AD09-114ASIC Permanently bans Victorian AD09-114 commenced pursuant to s13 ASIC Act or s247 from a client to for the purpose of obtaining income servces insurance broker NCCP Act) protection insurance policies, but instead, retained the funds for his personal use Formal investigation (an investigation 7/07/2017 Market participant & OTC issuers - All Emmanuel Duvnjak Engaged in unauthorised discretionary trading on one client Banned from providing financial services for 17-230MRASIC bans former representative of 17-230MR commenced pursuant to s13 ASIC Act or s247 account and created false records in relation to two client five years. Patersons Securities Limited NCCP Act) accounts. RCD.0015.0003.0224

Public Results & Reports

Formal investigation (an investigation 21/12/2016 Credit - Credit intermediaries Vaughn Thomas Mr Hopkins knowingly provided false information to Esanda, a Permanently banned from engaging in credit 16-456MR Used-car finance broker 16-456MR commenced pursuant to s13 ASIC Act or s247 division of ANZ Banking Group Ltd, in support of car finance activities. permanently banned NCCP Act) applications for nine of his clients. All nine applications contained false payslips, and in three of the applications Mr Hopkins also falsely inflated his clients' assets. Each of the nine finance applications was approved.

Formal investigation (an investigation 9/10/2013 Credit - Credit intermediaries Brett Morgan ASIC was concerned that Home Zone Rentals was providing ASIC accepted an EU under which he has 13-270MR ASIC accepts enforceable 13-270MR commenced pursuant to s13 ASIC Act or s247 household items under a ‘rent to buy’ arrangement, although agreed to refrain from engaging in credit undertaking from Queensland credit provider NCCP Act) neither Home Zone Rentals, nor its directors were at any time activity for a period of three years including licensed to engage in credit activity. not applying for an Australian credit licence or becoming a credit representative of a credit licence holder. Formal investigation (an investigation 29/10/2013 Credit - Credit intermediaries Rent The Roo Pty Ltd Deficiencies in its operating and compliance practices - ASIC Infringement notice - $27,500 13-301MR Rental goods provider pays 13-301MR commenced pursuant to s13 ASIC Act or s247 was particularly concerned because RTR regularly deals with 27500dollars penalty - enters into NCCP Act) consumers who receive social security or government benefits enforceable undertaking as their sole income, including Indigenous consumers living in remote locations who have limited access or exposure to other mainstream retail and/or credit services and whose first language may not be English. ASIC was also concerned RTR did not have proper systems in place to ensure compliance with the National Credit Act.

Formal investigation (an investigation 11/07/2012 Funds management - Responsible Ropati Broederlow Financial adviser was unlicensed, acted dishonestly and made Permanently banned from providing financial 12-158MR ASIC permanently bans Sydney 12-158MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes false or misleading statements. services. financial adviser NCCP Act) Formal investigation (an investigation 11/05/2017 Credit - Other Adam Edward Greene Four loans submitted by Mr Greene and approved by Esanda, a Permanently banned from engaging in credit 17-134MR ASIC acts against car yard loan- 17-134MR commenced pursuant to s13 ASIC Act or s247 division of ANZ, contained false information and two of those activities. writer NCCP Act) loans contained false documents that were not given to him by the applicants. Formal investigation (an investigation 13/10/2017 Credit - Other Daniel Wilson Five of the loans submitted by Mr Wilson and approved by Permanently banned from engaging in credit 17-347MRASIC permanently bans convicted 17-347MR commenced pursuant to s13 ASIC Act or s247 Esanda, a division of ANZ, contained false information relating activities. car yard loan-writer NCCP Act) to income verification and employment status.

Formal investigation (an investigation 14/10/2009 Market participant & OTC issuers - Commonwealth Bank of Australiua Alleged failure to comply with the continuous disclosure Infringement notice issued (total of 09-199MR Commonwealth Bank pays 09-199MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks obligations in the Corporations Act 2001 (the Corporations $100,000). $100,000 penalty NCCP Act) Act) not notifying the Australian Securities Exchange (ASX) after becoming aware of information about its expected loan impairment expense (LIE) to gross loans and acceptances ratio for the financial year ending 30 June 2009.

Formal investigation (an investigation 14/09/2016 Credit - ADI lending Commonwealth Bank Of Australia Breaches of responsible lending laws when providing personal Infringement notices issued (total of 16-308MR CBA pays $180,000 in penalties 16-308MR commenced pursuant to s13 ASIC Act or s247 overdraft facilities. There was a programming error in the $180,000 ). and will write off $2.5 million in loan balances NCCP Act) automated serviceability calculator used to assess certain applications for personal overdrafts. As a result of the error, CBA to also write off a total of approximately between July 2011 and September 2015, CBA failed to take $2.5 million in personal overdraft balances. into consideration the declared housing and living expenses of some consumers. Formal investigation (an investigation 2/09/2016 Market participant & OTC issuers - Commonwealth Securities Limited Failure to comply with Rule 3.2.3, 3.4.1(3)(f), and 3.4.1(3)(f) of Infringement notice issued - $700,000 and a 16-289MR CommSec pays $700,000 in 16-289MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks the ASIC MIR, relating to confirmations of transactions which voluntary refund of 1.1 million in brokerage infringement notice penalties and refunds NCCP Act) require disclosures in relation to crossings and trading as to more than 25,000 clients. $1.1 million in brokerage principal. Formal investigation (an investigation 2/09/2016 Market participant & OTC issuers - Commonwealth Securities Limited Failure to have in place adequate organisation and technical Infringement notice issued - $300,000 N/A MDP commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks procedures or controls to verify the name and address on an circular2016-06 NCCP Act) issuer sponsored holding matched that of the client.

Formal investigation (an investigation 28/10/2014 Market participant & OTC issuers - Commonwealth Securities Limited Failure to include all the required Crossing System Reporting Infringement notice issued - $15,000 14-280MR Commonwealth Securities Limited 14-280MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Information in the preparation of the monthly reports it pays $15,000 infringement notice penalty NCCP Act) provided to ASIC. Failure to comply with Rule 4.3.2 of the ASIC MIR, which is primarily aimed at assisting ASIC in ensuring the integrity of markets. Formal investigation (an investigation 17/04/2014 Market participant & OTC issuers - Commonwealth Securities Limited Failure to comply with Rule 5.9.1 of the ASIC MIR, which Infringement notice issued - $55,000 14-049MR Commonwealth Securities Limited 14-049MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks imposes a strict obligation on Market Participants not to do pays $55,000 infringement notice penalty NCCP Act) anything which results in a market for a Product not being both fair and orderly. RCD.0015.0003.0225

Public Results & Reports

Formal investigation (an investigation 16/11/2016 Market participant & OTC issuers - Commonwealth Securities Limited Failure to comply with Rule 2.1.3 and 3.3.1 of the ASIC MIR. Infringement notice issued - $200,000 16-389MR CommSec pays $200,000 in 16-389MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Rule 2.1.3 requires market participant to have appropriate infringement notice penalty NCCP Act) supervisory policies and procedures to ensure compliance; and Rule 3.3.1 prohibits a market participant from entering into a market transaction for a client, except in accordance with the instructions of the client or of a person authorised by the client. Formal investigation (an investigation 22/05/2017 Credit - Other Christopher Robert Con Foo (also known as Forged letters in accountants' names and provided those Banned from engaging in credit activities and 17-146MR Victorian car finance manager 17-146MR commenced pursuant to s13 ASIC Act or s247 Christopher Robert Confoo) letters to BMW Australia Finance Ltd, in support of car finance providing financial services for a period of banned for seven years NCCP Act) applications for three of his customers. seven years. Formal investigation (an investigation 15/09/2017 Credit - Other Christopher Con Foo Falsified two letters from accounting firms that were used in Convicted and fined $2500 in the Ringwood 17-313MRFormer Victorian car finance 17-313MR commenced pursuant to s13 ASIC Act or s247 support of car loan applications submitted to BMW Australia Magistrates Court. Also ordered to pay costs. manager convicted for loan fraud NCCP Act) Finance Ltd on behalf of two clients. In one case, the accountant's letter was altered to substantially inflate the Note In May 2017 ASIC banned Mr Con Foo client's business income without the client's or accountant's from engaging in credit activity and from knowledge. providing financial services for a period of 7 years.

Formal investigation (an investigation 27/10/2009 Financial Advisers - Insurance advice Michael Crawley Engaged in dishonest conduct by falsifying loan applications Permanantly banned from financial services 09-208AD Victorian insurance broker 09-208AD commenced pursuant to s13 ASIC Act or s247 for premium insurance funding permanently banned NCCP Act) Formal investigation (an investigation 4/08/2014 Market participant & OTC issuers - Credit Auisse AG Failure to comply with Rules 3.1.17(1), 3.1.13(1)(b) and Infringement notice issued - $88,400 14-188MR Credit Suisse AG pays $88,400 14-188MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks 2.2.4(3) of the ASIC MIR, which is directed at ensuring that infringement notice penalty NCCP Act) market participants treat clients fairly. Formal investigation (an investigation 15/03/2017 Market participant & OTC issuers - Credit Suisse Equities (Australia) Limited Failure to comply with Rule 5.6.1(1) of the ASIC MIR, which Infringement notice issued - $170,000) 17-064MR Credit Suisse pays $170,000 in 17-064MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks requires trading participants to have appropriate automated infringement notice penalty NCCP Act) filters for their automated order processing (AOP) systems.

Formal investigation (an investigation 20/05/2016 Market participant & OTC issuers - Credit Suisse Equities (Australia) Limited Failure to comply with Rule 5.6.1(1) of the ASIC MIR, which Infringement notice issued - $74,000 16-151MR Credit Suisse Equities (Australia) 16-151MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks requires trading participants to have appropriate automated Limited pays $74,000 NCCP Act) filters for their automated order processing (AOP) systems.

Formal investigation (an investigation 18/12/2015 Financial Advisers - Other Tony Davidof Engaged in manipulation of the price of MINI warrants issued Banned from providing financial services for 15-398MR ASIC bans former financial adviser 15-398MR commenced pursuant to s13 ASIC Act or s247 by Credit Suisse, commonly called “MINIs”. MINIs are a type three years. for market manipulation NCCP Act) of derivative product traded on the ASX.

Formal investigation (an investigation 11/12/2017 Market participant & OTC issuers - All Philip McLean Engaged in manipulation of the price of MINI warrants issued AAT affirming ASIC's decision to ban a former 17-425MRAAT upholds ASIC bans of client 17-425MR commenced pursuant to s13 ASIC Act or s247 by Credit Suisse (commonly called 'MINIs') through engaging financial advisor and a former Credit Suisse advisers for trading in 'MINI' warrants NCCP Act) in pre-arranged trades for the sole or dominant purpose of employee from providing financial services transferring a profit or loss from previous transactions. MINIs for three years. are a type of derivative product traded on the ASX.

Formal investigation (an investigation 10/11/2016 Market participant & OTC issuers - All Micahel Spencer Engaged in manipulation of the price of MINI warrants issued AAT affirming ASIC's decision to ban a former 16-384MRAAT stays the ASIC banning of 16-384MR commenced pursuant to s13 ASIC Act or s247 by Credit Suisse (commonly called 'MINIs') through engaging financial advisor and a former Credit Suisse former financial adviser for misconduct in NCCP Act) in pre-arranged trades for the sole or dominant purpose of employee from providing financial services warrants market pending review transferring a profit or loss from previous transactions. MINIs for three years. are a type of derivative product traded on the ASX. RCD.0015.0003.0226

Public Results & Reports

Formal investigation (an investigation 19/08/2013 Credit - ADI lending Credit Union of Australia Limited Concerns that the credit union's advertising was misleading. CUA agreeing to maintain interest rate 13-218MR CUA honours discounts on home 13-218MR commenced pursuant to s13 ASIC Act or s247 The terms and conditions either did not feature in the discounts for eligible home loan customers. loans after misleading ad campaign NCCP Act) advertisements or where they did feature, they were not sufficiently displayed. CUA also entered into an enforceable undertaking (EU) with ASIC. The EU includes requirements that CUA will •ensure that all consumers who entered into a Rate Breaker Package loan up to 31 August 2013 will, for the duration of their loans,receive a discount of no less than 1% off the average of the variable interest rates advertised by the 'big 4' banks, except were it to be less than 0% •sufficiently highlight both the 3% per annum minimum interest rate and its ability to change the 1% discount rate in all future advertising of the Rate Breaker Package; and •notify existing Rate Breaker Package customers of its undertaking to honour the 1% interest rate discount by 30 September 2013.

Formal investigation (an investigation 23/09/2015 Market participant & OTC issuers - All D J Carmichael Pty Ltd Failure to comply with Rule 5.7.1(b)(i) of the ASIC MIR, which Infringement notice issued - $300,000 15-265MR D J Carmichael Pty Limited pays 15-265MR commenced pursuant to s13 ASIC Act or s247 is directed at protecting against market misconduct and $300,000 infringement notice penalty NCCP Act) promoting the disclosure of important market-related information. Formal investigation (an investigation 10/12/2015 Market participant & OTC issuers - All D2MX Pty Ltd Failure to comply with Rule 5.6.3(a) of the ASIC MIR, which Infringement notice issued - $120,000 15-376MR D2MX Pty Ltd pays $120,000 15-376MR commenced pursuant to s13 ASIC Act or s247 requires trading participants to have appropriate automated infringement notice penalty NCCP Act) filters for their automated order processing (AOP) systems. Failure to comply with Rule 5.9.1, which provides that market participants must not do anything which results in a market for a Product not being both fair and orderly.

Formal investigation (an investigation 6/05/2014 Market participant & OTC issuers - All D2MX Pty Ltd Failure to comply with Rule 5.6.3(a) of the ASIC MIR, which Infringement notice issued - $110,000 14-095MR D2MX Pty Ltd pays 110000 dollar 14-095MR commenced pursuant to s13 ASIC Act or s247 requires trading participants to have appropriate automated infringement notice penalty NCCP Act) filters for their automated order processing (AOP) systems. Failure to comply with Rule 5.9.1, which provides that market participants must not do anything which results in a market for a Product not being both fair and orderly.

Formal investigation (an investigation 18/08/2011 Financial Advisers - Insurance advice Joseph Paterniti Breached a number of financial services laws. Enforceable undertaking under which Mr 11-177MR Perth financial adviser removed 11-177MR commenced pursuant to s13 ASIC Act or s247 Paterniti has undertaken from industry NCCP Act) •not to provide financial services in any capacity for a minimum period of three years

•to resign as an authorised representative of Dover

•not to recommence to provide financial services until successful completion of a Graduate Diploma of Applied Finance as specified by ASIC, and

•adhere to strict supervision requirements for the first 12 months should he re-enter the financial services industry. RCD.0015.0003.0227

Public Results & Reports

Formal investigation (an investigation 28/05/2014 Credit - Credit intermediaries Moustafa Dandachli Providing false loan applications to lenders over a six-month Convicted and sentenced to nine months in 14-117MR Former mortgage broker convicted 14-117MR commenced pursuant to s13 ASIC Act or s247 period to secure approvals for home loans totalling almost jail to be released immediately upon entering of falsifying home loan applications NCCP Act) $3.8 million. into a two year good behaviour bond.

ASIC also permanently banned Mr Dandachli from providing credit activities in the future.

Formal investigation (an investigation 17/12/2009 Financial Advisers - SMSF advice Craig Gerard Dangar Mr Dangar recommended investments in Morris Finance Ltd Banned from providing financial services for 09-258AD NSW financial adviser banned for 09-258AD commenced pursuant to s13 ASIC Act or s247 and NSW Finance & Leasing Pty Ltd (‘NSW F & L’) to a number ten years. ten years NCCP Act) of SMSF clients without disclosing that he was a director of both companies and held a beneficial interest in their shares. In some instances, when providing the financial advice, he did not provide clients with product disclosure statements or statements of advice. Mr Dangar also engaged in conduct that was misleading or deceptive or was likely to mislead or deceive in relation to statements made in various disclosure documents he gave to his clients.

Formal investigation (an investigation 21/02/2013 Financial Advisers - SMSF advice Craig Dangar Obtaining financial advantage by deception. Sentenced in the NSW District Court to 13-030MR Self-managed super adviser 13-030MR commenced pursuant to s13 ASIC Act or s247 concurrent suspended sentences of 18 sentenced on ASIC charges NCCP Act) months imprisonment. Formal investigation (an investigation 22/04/2013 Financial Advisers - Compliance & Craig Dangar Lodging a false statement with ASIC. Convicted and released subject to a 13-087MR Former SMSF adviser sentenced 13-087MR commenced pursuant to s13 ASIC Act or s247 supervision recognizance order, without security, and NCCP Act) requiring him to be of good behaviour for 18 months. Formal investigation (an investigation 14/03/2011 Credit - Credit intermediaries Dark Blue Fire Pty Ltd Ceased to be a member of an external dispute resolution Suspension of credit registration (until such 11-47AD Credit registration suspended - Dark 11-47AD commenced pursuant to s13 ASIC Act or s247 (EDR) scheme. Membership of an approved EDR scheme is time as the company complies with its Blue Fire Pty Ltd NCCP Act) compulsory for businesses registered or licensed under the obligation to be a member of an approved National Consumer Credit Protection Act 2009. external dispute resolution scheme).

Formal investigation (an investigation 9/03/2010 Market participant & OTC issuers - All Oswyn De Silvia ASIC applied for these orders pursuant to its investigation of Consent orders in the Supreme Court of New 10-44AD Former Macquarie Bank portfolio 10-44AD commenced pursuant to s13 ASIC Act or s247 trading that Mr De Silva's is alleged to have engaged in South Wales restraining former Macquarie manager restrained from leaving Australia NCCP Act) between 2006 and 2007. Bank Portfolio Manager, Mr Oswyn De Silva, from leaving or attempting to leave Australia.

Formal investigation (an investigation 31/03/2011 Market participant & OTC issuers - All Oswyn De Silva Insider trading. Sentenced by the Supreme Court of New 11-69AD Former fund manager imprisoned 11-69AD commenced pursuant to s13 ASIC Act or s247 South Wales to a term of two years and six for insider trading involving front running NCCP Act) months imprisonment. Formal investigation (an investigation 13/04/2016 Market participant & OTC issuers - DEUTSCHE BANK AKTIENGESELLSCHAFT Failure to comply with Rule 3.3.1A(1) of the ASIC MIR, which Infringement notice issued - $20,000 16-112MR Deutsche Bank AG pays $20,000 16-112MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks requires Market Participants to give others notice of intention infringement notice penalty NCCP Act) to . Formal investigation (an investigation 10/11/2015 Credit - Credit intermediaries Jiangyong (Jenny) Mao Created and submitted false documents to support home loan Permanently banned from engaging in credit 15-327MR ASIC bans home loan mortgage 15-327MR commenced pursuant to s13 ASIC Act or s247 applications for clients. activities and providing financial services. broker NCCP Act) Formal investigation (an investigation 16/05/2017 Credit - Credit intermediaries Jenny Mao Charged with giving documents to a lender that were Decision of the CDPP to discontinue the 17-141MR Prosecution of former Brisbane 17-141MR commenced pursuant to s13 ASIC Act or s247 materially misleading. prosecution of mortgage broker. mortgage broker discontinued NCCP Act) Formal investigation (an investigation 20/07/2017 Credit - Credit intermediaries Jianyong (Jenny) Mao Created and submitted false documents to support home loan AAT approval of agreement reached between 17-244MRVariation to financial services and 17-244MR commenced pursuant to s13 ASIC Act or s247 applications for clients ASIC and mortgage broker to ban her from credit bannings of Jianyong (Jenny) Mao NCCP Act) providing financial services and engaging in credit activity. Formal investigation (an investigation 16/11/2017 Market participant & OTC issuers - All Bell Potter Securities Limited Failure to comply with Rule 5.7.1 and 5.11.1 of the ASIC MIR, Infringement notice issued - $358,000 17-387MRBell Potter Securities Limited pays 17-387MR commenced pursuant to s13 ASIC Act or s247 which a prohibit a market participant from making bids on its $358,000 in infringement notice penalty NCCP Act) own behalf; and require a market participant to notify ASIC, as soon as practicable, of any suspicious trading.

Formal investigation (an investigation 1/12/2017 Market participant & OTC issuers - All Damien Rodr Conduct involving transactions that had the effect of creating Banned for 4 years from providing financial 17-414MRASIC bans Bell Potter Securities Ltd 17-414MR commenced pursuant to s13 ASIC Act or s247 an artificial price for trading and undermines market integrity. services. trader Damien Rodr from providing financial NCCP Act) services RCD.0015.0003.0228

Public Results & Reports

Formal investigation (an investigation 13/05/2016 Financial Advisers - Compliance & NICHOLAS D'LAMARTIN Impersonating persons and creating and using false Permanently banned from providing financial 16-139MR ASIC bans former employee of 16-139MR commenced pursuant to s13 ASIC Act or s247 supervision documents to gain a financial advantage, larceny and using services. financial services business NCCP Act) and possessing other people's identification information. Note In 2014 Mr D'Lamartin was sentenced to an aggregate term of imprisonment of 3 years which commenced on 21 November 2012 with a non-parole period of 20 months.

Formal investigation (an investigation 12/05/2009 Financial Advisers - Compliance & Neil Dodd Mr Dodd’s authority was revoked for failing to comply with the Permanently banned Mr Neil Francis Dodd, of 09-83AD ASIC bans former Townsville 09-83AD commenced pursuant to s13 ASIC Act or s247 supervision provisions of LFG Services’ Australian financial services licence. Townsville in Queensland, from providing financial adviser NCCP Act) LFG Services Pty Ltd referred the matter to ASIC. financial services.

Formal investigation (an investigation 14/01/2010 Funds management - Other Joshua Fuoco Among other things, not having a reasonable basis for advice Banned from providing financial services for 10-06AD Victorian man banned from 10-06AD commenced pursuant to s13 ASIC Act or s247 given and engaging in misleading and deceptive conduct. five years. providing financial services NCCP Act) Formal investigation (an investigation 13/10/2016 Funds management - Responsible Macro All State Investments & Securities Director restrained from providing financial services advice, ASIC cancelled the Australian Financial 16-350MR ASIC cancels the Australian 16-350MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Limited dealing in financial products, promoting financial products and Services (AFS) licence Financial Services licence of Macro All State NCCP Act) otherwise carrying on a financial services business (see 16- Investments & Securities Limited 258MR). Formal investigation (an investigation 28/10/2016 Financial Advisers - Other Desiree Macpherson Misleading and deceptive conduct relating to promoting and 16-367MR West Australian property 16-367MR commenced pursuant to s13 ASIC Act or s247 marketing an investment proposal. developer and Macro Realty Group of NCCP Act) companies consent to extend interim orders obtained by ASIC

Federal Court proceedings - Consent orders to continue interim asset preservation orders. - Restraint from providing financial services advice, dealing in financial products, promoting financial products and otherwise carrying on a financial services business - Orders to surrender passports

Formal investigation (an investigation 7/06/2017 Financial Advisers - Other 1.AGKM Green Pty Ltd; ASIC alleges in its application for the appointment of Application for appointment of liquidators 17-173MRASIC asks for liquidators to be 17-173MR commenced pursuant to s13 ASIC Act or s247 2.BA Sullivan Pty Ltd; liquidators that appointed to companies associated with the NCCP Act) 3.Christians Holdings WA Pty Ltd; •the companies have been involved in multiple contraventions Macro Group 4.Ferrous Ferric Pty Ltd; of corporations legislation and are not complying with their 5.Macpherson Realty Options Pty Ltd; obligations under that legislation; and 6.Splendiferous Enterprises Pty Ltd; •the companies are not being properly managed and are 7.Aiple Enterprises Pty Ltd; suspected to be insolvent. 8.Brayst WA Pty Ltd; 9.Chippere Pty Ltd; 10.EDWA14 WA Pty Ltd; 11.KCST Pty Ltd; 12.Newkins WA Pty Ltd; 13.Kurst WA Pty Ltd; 14.MacOften Pty Ltd; 15.MRF Kurra Pty Ltd; 16.Dee Vee Enterprises Pty Ltd; 17.Hedland Projects Pty Ltd; 18.Macro Projects TS PH Pty Ltd; and 19 P H l G Pt Lt Formal investigation (an investigation 19/07/2017 Financial Advisers - Other AGKM Green Pty Ltd, BA Sullivan Pty Ltd, ASIC has concerns that the companies have been involved in Orders to wind up 18 companies associated 17-240MRCourt orders winding up of 18 17-240MR commenced pursuant to s13 ASIC Act or s247 Christians Holdings WA Pty Ltd, Ferrous Ferric multiple breaches of the Corporations Act, were not being with the Macro Group companies associated with Macro Group NCCP Act) Pty Ltd, Macpherson Realty Options Pty Ltd, properly managed and were potentially insolvent. Splendiferous Enterprises Pty Ltd, Aiple Enterprises Pty Ltd, Brayst WA Pty Ltd, Chippere Pty Ltd, EDWY14 WA Pty Ltd, MCKST Pty Ltd, Newkins WA Pty Ltd, Kurst WA Pty Ltd, MRF Kurra Pty Ltd, Dee Vee Enterprises Pty Ltd, Hedland Projects Pty Ltd, Macro Projects TS PH Pty Ltd, Prime Holdings Group Pty Ltd RCD.0015.0003.0229

Public Results & Reports

Formal investigation (an investigation 14/12/2017 Funds management - Responsible Anquan Securities & Investments Pty Ltd Anquan requested ASIC cancel their licence, which ASIC did Cancelled AFSL 17-433MRInvestigation into the Macro Group 17-433MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes with effect from 11 December 2017. leads ASIC to cancel the licence of Anquan NCCP Act) Securities & Investments As part of the cancellation, ASIC imposed conditions that Anquan for the next 12 months maintain its membership of an external dispute resolution service. Formal investigation (an investigation 13/04/2012 Funds management - Other Peter Hickey Mr Hickey stole $230,000 and ASIC alleged that the funds were Sentenced to jail for 2 years with a non- 12-69MR Former WA director jailed for 12-69MR commenced pursuant to s13 ASIC Act or s247 received from investors and disposed of through a company of parole period of 12 months for stealing more stealing $230,000 NCCP Act) which Mr Hickey was a director. It was alleged Mr Hickey then than $200,000. used the money to pay for items including personal expenses such as mortgages and credit cards, and to support now defunct publishing company.

Formal investigation (an investigation 6/09/2013 Funds management - Other Clestus Weerappah Mr Weerappah included dishonestly using his position as a Mr Weerappah jailed for four years with a 13-252MR Former Dollarforce director jailed 13-252MR commenced pursuant to s13 ASIC Act or s247 director and making false and misleading statements. non-parole period of two years. Also ordered and accountant convicted NCCP Act) to repay $3.7 million to a number of Mr Lewis included making false statements in a prospectus investors. and related to his role as an officer of Altitude Property Limited, one of the companies in the Dollarforce group. Mr Lewis convicted of one charge making a false or misleading statement or omission in a prospectus lodged with ASIC. Note Mr Lewis was later sentenced to 12 months imprisonment (see 13-348MR). Mr Lewis was released on entering a $2000 recognisance to be of good behaviour for a period of 18 months. As a result of his conviction he is automatically disqualified from managing any company for 5 years.

Formal investigation (an investigation 11/10/2013 Funds management - Other James Lewis Omitting or authorising the omission of material information Sentenced to 12 months imprisonment. Mr 13-271MR Accountant involved in Dollarforce 13-271MR commenced pursuant to s13 ASIC Act or s247 in a prospectus lodged with ASIC Lewis was released on entering a $2000 collapse sentenced NCCP Act) recognisance to be of good behaviour for a period of 18 months. As a result of his conviction he is automatically disqualified from managing any company for 5 years.

Formal investigation (an investigation 18/12/2013 Funds management - Other Clestus Weerappah Serious fraud offences Permanently banned from providing financial 13-348MR Dollarforce director permanently 13-348MR commenced pursuant to s13 ASIC Act or s247 -using his position dishonestly with the intention of gaining an services. banned NCCP Act) advantage by misleading investors; -falsifying a document lodged with ASIC; Note This banning came after Mr -falsifying books relating to the affairs of Altitude Property Weerappah was convicted and sentenced to Number 1 a minimum of two years before being eligible for parole. The court also ordered Mr Weerappah repay $3.7 million to a number of investors (refer 13-252MR).

Formal investigation (an investigation 29/09/2016 Market participant & OTC issuers - Andrew Donaldson Entering a significant number of false entries into Deutsche Permanently banned from providing financial 16-332MR ASIC permanently bans former 16-332MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Bank's records. services. Deutsche Bank FX trader NCCP Act) Formal investigation (an investigation 23/02/2017 Financial Advisers - Insurance advice Tony Doring •failed to ensure that PDIB operated pursuant to an Australian Permanently banned from providing financial 17-043MR ASIC permanently bans former 17-043MR commenced pursuant to s13 ASIC Act or s247 financial services (AFS) licence when providing financial services. Melbourne insurance broker from providing NCCP Act) services; financial services •deliberately engaged in dishonest conduct by misappropriating money from the PDIB trust account, and using this to enable PDIB to continue trading; •cancelled client insurance policies without authorisation; and •failed to comply with the requirement that a person who is licenced with an AFS license lodge an annual auditor's report and financial statements with ASIC. RCD.0015.0003.0230

Public Results & Reports

Formal investigation (an investigation 24/08/2016 Fin.a ncfal Al:Msers- Other Anthony Downey Engaged in misleading conduct by providing false documents Banned from providing fin.aooial services for 16-268MR ASIC bans former director of commenced pursua nt to s13 ASK Act or s247 to support a n application for a n Australian visa, knowing that period of six years. financial services business NCCP Act) the documents would be provided to an Australian government department. Note On 26 June 2017, the AAT affirmed the banning of Mr Downey from providing financial services and reduced the banning period to four years, commencing on 15 A•.,ust 2n1~. Formal investigation {an investigation 8/ 07/ 2013 Fin.a ncfal AcMsers- Compliance & Joshua Doyle Serious fraud, including canying out unauthorised share Permanently bamed from proYicting fi nancial l } l §?MR ASIC pprmawnr'v ham 5vrtpey ~ comme nced pursua nt to s13 ASIC Act or s247 supervision trading using a client's Macquarie Bank share trading account. services. finarnia' adviw r mmOC!gd pf tra1tc1 NCCP Act) Note In August 2012, Mr Doyle was sentenced to jail for 18 months, which was suspended on contition that he enter into a .....,...,, ~haviou r bond. Other investigation 27/05/2016 Fln.aooial Al:Msers- Compliance & Kenneth Drake Stealing a total of $940,935.09 from two elderly clients of his Permanently bamed from proYicting any 16-16SMR ASIC nPrmanentlv bans Tasmanian 16-16SMR supervision financial services practice. financial services. man from providing financial services

Note Mr Drake was banned after pleading guilty and being convicted of two cou.nts of stealing in the Supreme Court of Tasmania on 5 April 2016. Mr Drake was sentenced to six and a hatf years j;ail and will be eligible for parole after serving half of that term.

Formal investigation {an investigation 3/ 04/ 2013 Fin.aooial AcMsers - SMSF advice Nicholas Ellis Engaged in tishonest conduct and misleading or deceptive Banned from providing fin.aooial services for 13-069MR ASIC bans accountant for comme nced pursua nt to s13 ASIC Act or s247 conduct by six years. dishonest conduct NCCP Act) • making dishonest statements to a client about where the ir money was to be invested • failing to invest $200,000 he received from a client, instead, using it for his own advantage including paying debts and purchasing personal assets • engaging in misleading or deceptive conduct in relation to statements made in client letters.

Formal investigation (an investigation 8/02/2011 Martet participant & OTC issuers - All - ing Co Pty ltd Websites purported to offer onl ine finaooial services - some Wesbites dosed down. AFSL of Hedge 11- ?lAQ ASK artjgp '1n¥'s wetnjtg5 apd llllAl2 commenced pursua nt to s13 ASK Act or s247 sites were run by unlicensed operators Of other misconduct cancelled. 6cnn hebjrx1 them NCCP Act\ was aooarent. Formal investigation {an investigation 4/ 06/2015 Funds management - Other Shaun Gregory Morgan False claims to be able to raise capital,. and counterfeit Adrtlinistrative action by ASIC-permanentty 15-140MR ASIC bans New Zealand man from 1S.140MR comme nced pursua nt to s13 ASIC Act or s247 cheques d rawn on a fictitk>us bank - this was bank fraud in banned from providing financial services orovidine financial seMces NCCP Act) USA. following conviction for serious fraud in USA.

Formal investigation (an investigation 31/10/2016 Funds management - Other Ashley Howard • engaged in d ishonest conduct; Permanently bamed from proYicting financial 16-368MR ASIC eermanent'Y bans forme r ~ commenced pursua nt to s13 ASK Act or s247 • held out that trading he was conducting was authorised; services financial adviser Ashley Howard NCCP Act) • provided financial services when not licensed or authorised to do so; and • engaged in conduct that was likely to mislead.

Formal investigation {an investigation 3/ 12/2015 Funds Management • Responsible MarkMctvor • failed to take all the steps that a reasonable person would Permanently bam ed from proYicting any 15-363MR ASIC eermanently bans forme r 1S.363MR comme nced pursua nt to s13 ASIC Act or s247 Entities & schemes take, if they were in the officer"s position, to e nsure th.at the financial services. Equititrust CEO NCCP Act) responsible entity complied with the El f's compliance plan; and Note On 12 August 2014, Mr Mcivor was • signed 28 board meeting minutes, which fatsety recorded a convicted and fined $10,000 in the Brisbane board meeting to approve a loan application had ocamed, Magistrates Court of six charges of failing to when no sooh board meetings had taken place. provide a Report as to Affairs and to deliver boots and records to the liquidators of Chevron Capital Pty Ud, MHSM Holdings Pty ltd and SM Capital Pty Ud. {REF 14-223MR). RCD.0015.0003.0231

Public Results & Reports

Formal investigation (an investigation 19/12/2011 Funds Management - Responsible Equititrust Limited Failing to comply with a number of key obligations as a Suspension of AFS licence for 12 months. 11-306MR ASIC suspends AFS licence of 11-306MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes financial services licensee. It failed to Equititrust Limited NCCP Act) •comply with its obligation to maintain at least $5million net tangible assets; •prepare and lodge annual audited financial statements and to provide annual financial reports to members of EIF and EPCIF for the financial year ended 30 June 2011; and •lodge compliance plan audits for EIF and EPCIF for the financial year ended 30 June 2011.

Formal investigation (an investigation 12/08/2014 Financial Advisers - SMSF advice Esuperfund Pty Ltd False or misleading online advertising. The advertisements Infringement notices issued (total of 14-196MR Esuperfund Pty Ltd pays $30,600 14-196MR commenced pursuant to s13 ASIC Act or s247 related to Esuperfund's business of providing self-managed $30,600). penalty for misleading advertising NCCP Act) superannuation fund (SMSF) establishment and administration services online to clients.

Formal investigation (an investigation 9/12/2015 Market participant & OTC issuers - Etrade Australia Securities Limited Failure to comply with Rule 5.9.1 of the ASIC MIR, which Infringement notice issued - $65,000 15-373MR Etrade Australia Securities Limited 15-373MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks imposes a strict obligation on Market Participants not to do pays $65,000 infringement notice penalty NCCP Act) anything which results in a market for a Product not being both fair and orderly. Formal investigation (an investigation 23/09/2014 Market participant & OTC issuers - Etrade Australia Securities Limited Failure to comply with Rule 5.9.1 of the ASIC MIR, which Infringement notice issued - $55,000 14-246MR Etrade Australia Securities Limited 14-246MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks imposes a strict obligation on Market Participants not to do pays $55,000 infringement notice penalty NCCP Act) anything which results in a market for a Product not being both fair and orderly. Formal investigation (an investigation 20/02/2017 Market participant & OTC issuers - Share Investing Limited (previously known as Failure to comply with Rule 5.7.1(b)(i) of the ASIC MIR, which Infringement notice issued - $130,000 17-035MR Share Investing pays $130,000 in 17-035MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks ETRADE Australia Securities Limited) is directed at protecting against market misconduct and infringement notice penalty NCCP Act) promoting the disclosure of important market-related information. Formal investigation (an investigation 24/10/2011 Financial Advisers - Compliance & Far East Capital Limited Failing to comply with a number of key obligations as a Suspension of AFS licence. 11-227AD ASIC suspends AFS licence for 11-227AD commenced pursuant to s13 ASIC Act or s247 supervision financial services licensee, including failing to lodge financial statements NCCP Act) •failing to lodge financial statements, auditor reports and auditor opinions over consecutive years, in breach of both its legal obligations and licence conditions, despite repeated demands from ASIC to comply; and •not advising ASIC of these breaches.

Formal investigation (an investigation 25/03/2010 Market participant & OTC issuers - All Oswyn De Silvia Attempted to leave Australia from Perth but was stopped by Former Macquarie Bank Portfolio Manager, 10-61AD Oswyn de Silva jailed for nine 10-61AD commenced pursuant to s13 ASIC Act or s247 the Australian Federal Police. On 8 March Mr De Silva pleaded Mr Oswyn De Silva was yesterday sentenced months NCCP Act) guilty to a charge of being in contempt of the court’s ex parte to nine months imprisonment with a non- orders (refer AD10-44). The court discontinued the travel parole period of six months for contempt of restraining orders and directed his passport be returned to Mr court. De Silva Formal investigation (an investigation 28/04/2015 Market participant & OTC issuers - All FC Stone Australia Pty Ltd Failure to comply with Rule 2.2.1(1)(b) of the ASIC MIR, which Infringement notice issued - $130,000 15-087MR FC Stone Australia Pty Ltd pays 15-087MR commenced pursuant to s13 ASIC Act or s247 is aimed at ensuring that all Market Participants must $130,000 infringement notice penalty NCCP Act) maintain appropriate controls to ensure that Orders submitted do not interfere with the integrity of the market. Failure to comply with Rule 2.3.2, which imposes a mandatory obligation to perform daily reconciliations.

Formal investigation (an investigation 17/05/2012 Funds management - Other Dellingworth Pty. Ltd. , Dellingworth Contract Unlicensed financial services business purporting to be based ASIC warns consumers about dealing with 12-95MR Investors warned about dealing 12-95MR commenced pursuant to s13 ASIC Act or s247 Service Pty L, Anne Jones on the Gold Coast offering investors returns of up to 50%, Dellingworth Pty Ltd, an unlicensed financial with Dellingworth Pty Ltd NCCP Act) including unsolicited phone calls convincing them to invest in services business. funds with fictitious returns. Formal investigation (an investigation 9/05/2011 Funds management - Other Omar Diab Allegations of misleading and deceptive conduct and carrying Permanently banned from providing financial 11-93AD ASIC permanently bans Sydney 11-93AD commenced pursuant to s13 ASIC Act or s247 on a financial services business without holding an Australian services. derivatives trader NCCP Act) financial services (AFS) licence. RCD.0015.0003.0232

Public Results & Reports

Formal investigation (an investigation 27/08/2008 Funds management - Other Neil Dodd ASIC alleges the director of both companies, Mr Neil Dodd, Orders in the Supreme Court of Queensland 08-195 ASIC winds up two Townsville 08-195 commenced pursuant to s13 ASIC Act or s247 approached clients in, or around, early 1996 regarding an to wind up two Townsville companies. companies NCCP Act) opportunity to purchase shares in Understanding Retirement Pty Ltd. These clients resided predominantly in northern Queensland and had previously consulted Mr Dodd in relation to general investment and superannuation related matters.

ASIC estimates these clients advanced at least $1.5 million towards the purchase of shares in Understanding Retirement Pty Ltd.

ASIC also alleges that some of the investors have not been issued with shares in the company and that other funds provided by clients for investment may not have been dealt with by Mr Dodd in accordance with their instructions.

Formal investigation (an investigation 8/06/2016 Credit - Credit intermediaries Emma Feduniw Home loan fraud provided documents in support of eight loan Convicted and fined $8,500 in the Beenleigh 16-186MR Former Aussie Home Loans 16-186MR commenced pursuant to s13 ASIC Act or s247 applications submitted to Westpac Banking Corporation Magistrates Court. mortgage broker convicted of loan fraud NCCP Act) (Westpac) knowing that they contained false or misleading information. Formal investigation (an investigation 29/10/2010 Financial Advisers - Compliance & Neil Dodd Neil Dodd, a former authorised representative of FTL Financial 8 years imprisonment - 10-223AD commenced pursuant to s13 ASIC Act or s247 supervision Advice Pty Ltd, dishonestly gained a benefit for his company, Suppressed NCCP Act) Understanding Retirement Pty Ltd, and himself, in breach of Section 408C(1) of the Qld Criminal Code.

Formal investigation (an investigation 22/08/2011 Funds management - Responsible Great Northern Developments In September 2010, the Court confirmed that Great Northern Finalised proceedings in the Supreme Court 11-180AD ASIC achieves compliance for 11-180AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes had contravened 283AA of the Act by failing to enter into a of against property investors in property development NCCP Act) trust deed and by failing to appoint a trustee that complies development company Great Northern with 283AC before making offers of debentures that require Developments Pty Ltd (Great Northern). disclosure. The court accepted an undertaking from Great Northern that it would enter into a trust deed and appoint a trustee in compliance with the Act.

Formal investigation (an investigation 29/07/2016 Credit - Credit intermediaries Emma Feduniw Provided documents in support of eight loan applications Permanently banned from the credit and 16-242MR Former Aussie Home Loans 16-242MR commenced pursuant to s13 ASIC Act or s247 knowing that they contained false or misleading information financial services industries. mortgage broker permanently banned for NCCP Act) about the applicant's employment. loan fraud Note The bans follow conviction on 3 June 2016 in Beenleigh Magistrate's Court on eight charges relating to home loan fraud.

Formal investigation (an investigation 11/11/2011 Funds management - Responsible David Elliot Kennedy 11 counts of dishonestly obtaining a benefit of $728,000 under Sentenced to six years imprisonment. He will 11-249AD former Gold Coast property 11-249AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes section 408C(1)(d) of the Criminal Code (Qld) and one count of serve a minimum of two years with credit for developer jailed on ASIC fraud charges NCCP Act) carrying on an unlicensed financial services business. time served.

Formal investigation (an investigation 12/03/2015 Financial Advisers - Other Lewis Fellowes Engaged in dishonest conduct and in misleading or deceptive Permanently banned from providing financial 15-054MR ASIC bans Perth financial adviser 15-054MR commenced pursuant to s13 ASIC Act or s247 conduct in relation to six clients. Mr Fellowes transferred more services. for life NCCP Act) than $480,000 of client funds from their margin lending accounts into his personal account and that of his wife without the knowledge or authorisation of those clients. Mr Fellowes also transferred $1,000,000 from a client's bank account to his own.

Formal investigation (an investigation 6/11/2017 Financial Advisers - Other Lewis Fellowes Dishonestly using his position with the intention of directly Sentenced to three years imprisonment, to 17-370MRFormer stockbroker sentenced for 17-370MR commenced pursuant to s13 ASIC Act or s247 gaining an advantage for someone else and two charges of be released immediately upon entering into a dishonest use of clients funds NCCP Act) dishonestly using his position with the intention of directly $30,000, five-year good behaviour bond. gaining an advantage for himself, totaling $1,595,000. Note On 10 March 2015, ASIC permanently banned Mr Fellowes from providing financial services (refer 15-054MR). RCD.0015.0003.0233

Public Results & Reports

Formal investigation (an investigation 10/10/2016 Market participant & OTC issuers - All Financial Index Australia Pty Ltd, Findex Group Potentially misleading claims on the Findex website Infringement notices issued (total of 16-343MR Findex Group Limited and Financial 16-343MR commenced pursuant to s13 ASIC Act or s247 Ltd (www.findex.com.au). $21,600). Index Australia Pty Ltd pay $21,600 in NCCP Act) penalties Findex Group Limited and FIA also responded to ASIC’s concerns by removing the offending statements from the website by December 2015. Formal investigation (an investigation 22/11/2011 Financial Advisers - Compliance & George Hawa Convicted of serious fraud, four counts of obtaining money by Permanently banned Mr George Stephen 11-262AD ASIC bans Sydney man from 11-262AD commenced pursuant to s13 ASIC Act or s247 supervision deception and one count of dishonesty obtaining financial Hawa from providing financial services./ providing financial services NCCP Act) advantage by deception, among other matters.

Formal investigation (an investigation 22/09/2009 Funds management - Responsible Finchley Central Funds Management Ltd ASIC issued a Court application against Finchley on 4 August Orders obtained from the Federal Court to 09-180AD ASIC winds up Western Australian 09-180AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes 2009, alleging that it was just and equitable that Finchley be wind up company. funds management company NCCP Act) wound up by the Court because •Finchley and its officers had failed and continued to fail to comply with their obligations under the law; and •a winding up order would allow FDCF, the Riverside Trust and the Gilead Trust to be overseen and supervised by an independent party which would assist in the protection of investors’ interests.

Formal investigation (an investigation 15/03/2010 Financial Advisers - Compliance & Steven Edward Fleetwood Among other things, Mr Fleetwood was not authorised to Banned from providing financial services for 10-54AD Adelaide financial adviser banned 10-54AD commenced pursuant to s13 ASIC Act or s247 supervision provide the discretionary share trading on behalf of clients, five years. for five years NCCP Act) and FLAG (the company) did not hold an Australian Financial Services Licence covering the provision of a discretionary Note On 13 October 2009, FLAG’s Australian managed account service. financial services licence was cancelled after ASIC found FLAG had ceased to carry on a financial services business.

Formal investigation (an investigation 18/04/2013 Financial Advisers - Other Flowers Financial Management Pty Limited The company went into liquidation. Cancellation of AFS licence. 13-082MR ASIC cancels Flowers Financial 13-082MR commenced pursuant to s13 ASIC Act or s247 Management Pty Limited's licence NCCP Act) Formal investigation (an investigation 16/06/2014 Financial Advisers - Other Nigel Flowers Engaged in dishonest conduct and was not of good fame and Permanently banned from providing financial 14-130MR ASIC permanently bans veteran 14-130MR commenced pursuant to s13 ASIC Act or s247 character. Among other things, Mr Flowers improperly services and engaging in credit activities. adviser NCCP Act) disbursed at least $720,331.70 from a trust account. Of these disbursements, at least $696,138.20 was paid to entities related to Mr Flowers. Formal investigation (an investigation 2/08/2011 Funds management - Other Erin Watson Engaged in misleading and deceptive conduct. In addition, Permanently banned a Sydney director from 11-157AD ASIC permanently bans Sydney 11-157AD commenced pursuant to s13 ASIC Act or s247 ASIC found that from September 2006 to March 2008 Ms providing financial services. director NCCP Act) Watson used clients’ monies to pay her home loan, family members, clients of Home Equity and companies associated with Home Equity. Formal investigation (an investigation 3/03/2017 Financial Advisers - Other FONTAINE CYMON Defrauding six clients for a total of $105,910.10 and causing a Sentenced to four years' imprisonment in the 17-050MR Former Wyndham Vacation 17-050MR commenced pursuant to s13 ASIC Act or s247 loss of $4500 to another client. Southport District Court. Resorts consultant jailed for defrauding NCCP Act) clients Formal investigation (an investigation 30/06/2017 Financial Advisers - Other Cymon Fontaine Defrauding six clients for a total of $105,910.10 and causing a Permanently banned from providing financial 17-218MRFormer Wyndham Vacation Resorts 17-218MR commenced pursuant to s13 ASIC Act or s247 loss of $4500 to another client. services or engaging in credit activity. consultant permanently banned NCCP Act) Note The ban follows an ASIC investigation, which led to Mr Fontaine being convicted and sentenced in the Southport District Court on 3 March 2017 to 4 years' imprisonment for seven charges of fraud (see 17-050MR). RCD.0015.0003.0234

Public Results & Reports

Formal investigation (an investigation 9/08/2011 Market participant & OTC issuers - All Rob Wilson, Lifestyle Investor Services Pty ASIC found that statements made by Mr Wilson, who is from Enforceable undertaking under which the 11-161AD ASIC accepts ‘Aussie Rob’ EU 11-161AD commenced pursuant to s13 ASIC Act or s247 LtdLifestyle Trader Pty Ltd Hervey Bay, and the two companies in marketing the software companies will write to the relevant clients NCCP Act) were misleading and deceptive. These statements included and provide them with information to help •iting covered calls is the same as ‘Share Rental’ or renting out them claim any refund that they may be real estate”; entitled to. •“Options trading is easy”; and •“Returns of 5-10 per cent per month and 60-120 per cent per The EU also requires Lifestyle Investor year can consistently be achieved through use of Lifestyle Services Pty Ltd , for a period of 12 months, Options – Share Rental” to ensure all of its advertising material or that of its authorised representatives - in connection with any options trading product - which is marketed or distributed, is assessed by a lawyer for compliance with applicable laws prior to publication.

Formal investigation (an investigation 8/02/2011 Market participant & OTC issuers - All Macro Dealing Advisor Pty Ltd Websites purported to offer online financial services – some Wesbites closed down. AFSL of Hedge 11- 21AD ASIC action closes websites and 11-21AD commenced pursuant to s13 ASIC Act or s247 sites were run by unlicensed operators or other misconduct cancelled. firms behind them NCCP Act) was apparent. Formal investigation (an investigation 25/02/2014 Funds management - Other Forex Financial Services Pty Ltd Forex FS offered an account known as an individually managed Accepted an enforceable undertaking. 14-036MR ASIC accepts enforceable 14-036MR commenced pursuant to s13 ASIC Act or s247 account (IMA) which was a managed discretionary account The enforceable undertaking requires Forex undertaking from online FX broker operating NCCP Act) (MDA). Forex FS’s Australian financial services (AFS) licence FS to managed discretionary accounts prohibits it from offering a MDA service to retail clients except •engage an independent compliance expert through a registered managed investment scheme. to conduct an assessment of the products and services offered by Forex FS •take appropriate remedial action as necessary following the independent compliance experts assessment •not offer MDA services to retail clients for a period of 10 years, and •ensure the directors of Forex FS engage in continuing professional education within the next 12 months.

Formal investigation (an investigation 24/08/2010 Funds management - Other NORTHCOAST (QLD) AUSTRALIA PTY LTD, The IC Group investment companies have remained inactive, Court orders winding up four companies, 10-179AD ASIC obtains orders winding up 10-179AD commenced pursuant to s13 ASIC Act or s247 NORTHCOAST QLD PTY LTD, PERCIVAL allegedly insolvent with no active directors, registered office which operated as part of the fundraising arm Gold Coast investment companies NCCP Act) SUSANNE RAE or place of business. ASIC intervened to ensure the companies of Gold Coast based property development were wound up in an orderly fashion, so the interests of group, known as the IC Group. investors and creditors could be properly attended to.

Formal investigation (an investigation 11/11/2010 Financial Advisers - Compliance & Susanne Rae Percival ASIC was concerned that in providing this advice, Ms Percival Enforceable undertaking (EU) from former 10-235AD ASIC accepts enforceable 10-235AD commenced pursuant to s13 ASIC Act or s247 supervision failed to adequately explain the basis of her advice, take into Gold Coast based property developer, Ms undertaking from former Gold Coast financial NCCP Act) account many investors’ personal circumstances, advise many Susanne Rae Percival. adviser clients of the unsecured nature and risks of the proposed investment or of her own interest in the financial products she The EU bans Ms Percival from involvement in was recommending. the financial services industry, as an adviser, licensee or authorised representative of a ASIC was also concerned that when recommending and licensee, for 10 years. assisting a number of investors to transfer existing superannuation benefits into self managed superannuation funds, Ms Percival failed to provide them with the required comparative information regarding the switch costs and obligations associated with conducting a self managed superannuation fund.

Formal investigation (an investigation 11/01/2011 Insurance - Other John Ovens Convicted of serious fraud offences. Permanently banned from providing financial 11-03AD ASIC permanently bans former 11-03AD commenced pursuant to s13 ASIC Act or s247 services by the ASIC. insurance agent NCCP Act) RCD.0015.0003.0235

Public Results & Reports

Formal investigation (an investigation 23/11/2017 Market participant & OTC issuers - All Foster Stockbroking Pty Limited Conflicts of interest case. Among other things, ASIC found that Accepted an enforceable undertaking. FSB 17-404MRASIC accepts enforceable 17-404MR commenced pursuant to s13 ASIC Act or s247 FSB scaled back IPO subscription bids made by FSB's directors undertook to undertaking from Foster Stockbroking NCCP Act) disproportionately less than subscription bids made by other -implement a number of changes to its following ASIC investigation into conflicts of investors, including FSB retail clients, and did not fully disclose systems and controls; interests to RFN the shares allocated to FSB directors. -appoint an independent expert to assess and evaluate the adequacy and implementation of the (new) policies and undertakings; -make a community benefit payment of $80,000 to The Ethics Centre.

Formal investigation (an investigation 24/03/2011 Funds management - Other Andrew Perkin Failed to obtain an Australian financial services licence, did not Banned a former Gold Coast-based foreign 11-56AD Gold Coast forex trader banned in 11-56AD commenced pursuant to s13 ASIC Act or s247 communicate sufficiently with investors and purported to exchange trader, Mr Andrew Mark Perkin, as enforceable undertaking with ASIC NCCP Act) operate a foreign registered company, Crusader Trading part of an enforceable undertaking. Limited, when he had not had the company officially registered. Formal investigation (an investigation 22/12/2011 Credit - Credit intermediaries Tonto Home Loans Australia Pty Ltd, The Court of Appeal (Bathurst CJ, Allsop P and Campbell JA) The Supreme Court of New South Wales 11-314AD Streetwise investors' loans unjust 11-314AD commenced pursuant to s13 ASIC Act or s247 Permanent Trustee Company Ltd held that Streetwise was not the agent of Tonto Home Loans Court of Appeal yesterday partially upheld an NCCP Act) Australia Pty Ltd and Permanent Trustee Company Ltd. appeal from the decision of Justice Derek Price on 4 September 2009.

The Court found the circumstances in each case lead to the conclusion the loan contracts were unjust and the Court amended the primary judge’s orders to provide relief in accordance with each investor's circumstances, to avoid the relevant unjustness.

Formal investigation (an investigation 7/11/2011 Funds management - Responsible Rory Deutsch Failure to comply with financial services laws Banned from providing financial services for 11-244AD ASIC bans authorised 11-244AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes •carried on a financial services business by issuing interests in four years. representative of Romad Financial Services NCCP Act) two unregistered managed investment schemes without holding an AFS licence or being authorised under RFS’s AFS Note Mr Deutsch’s banning followed action licence or any other AFS licensee, to issue interests in taken by ASIC to cancel the AFS licence of managed investment schemes; RFS. •engaged in conduct in relation to a financial product or service that was misleading or deceptive, or was likely to mislead or deceive retail investors

Formal investigation (an investigation 24/11/2011 Financial Advisers - Compliance & FP Investment Partners Pty Ltd Cancellation of AFS licence. 11-269AD ASIC cancels FP Investment 11-269AD commenced pursuant to s13 ASIC Act or s247 supervision •FPIP had failed to ensure that adequate arrangements for the Partners’ licence NCCP Act) management of conflicts of interest were in place; •FPIP had failed to ensure that one of its previous authorised representatives, Mr Joshua David Fuoco, had complied with financial services laws; •FPIP had failed to do all things necessary to ensure that the financial services business covered by its AFS licence was provided efficiently, honestly, and fairly.

Formal investigation (an investigation 29/06/2011 Financial Advisers - Other Justin Fraser Misappropriation of money owed to employer. Permanently banned. 11-129ADASIC bans Queensland financial 11-129AD commenced pursuant to s13 ASIC Act or s247 adviser NCCP Act) Mr Fraser misappropriated fees that were due to Bridges and created false invoices to hide his dishonesty. Bridges’ alerted ASIC to Mr Fraser’s conduct, although none of their clients were adversely affected.

Formal investigation (an investigation 17/08/2011 Funds management - Other Frontline Financial Planning Complaints from investors about the firm known as Frontline Urged consumers to be wary of an advisory 11-173MR Beware of Frontline Financial 11-173MR commenced pursuant to s13 ASIC Act or s247 Financial Planning (Frontline). Frontline allegedly contacts firm purporting to specialise in equities and Planning ASIC NCCP Act) individuals by phone and encourages them to participate in a derivatives trading on Australian and two-week trial with access to an investment account managed international markets. by a company broker. Complainants who have taken up the trial to date have been unable to recover their money following the two-week period. RCD.0015.0003.0236

Public Results & Reports

Formal investigation (an investigation 10/07/2014 Credit - Other Rudy Frugtniet Providing misleading information and a lack of full disclosure Permanently banned from engaging in credit 14-163MR ASIC permanently bans Victorian 14-163MR commenced pursuant to s13 ASIC Act or s247 on a credit licence application. activities. finance broker NCCP Act) Formal investigation (an investigation 20/03/2015 Credit - Credit intermediaries Meenakshi Callychurn, Unique Mortgage •Submitted to ASIC two Annual Compliance Certificates for Banned finance broker from engaging in 15-064MR ASIC bans finance broker and 15-064MR commenced pursuant to s13 ASIC Act or s247 Services Pty Ltd UMS with false or misleading responses credit activities for five years, and cancelled cancels Australian Credit Licence NCCP Act) •Allowed Mr Frugtniet to continue to exercise control over the Australian credit licence of her company. UMS •Was not engaged in operating the business and attending to duties associated with the UMS credit licence •Did not understand her responsibilities in relation to the UMS credit licence •Showed a lack of preparedness to engage with ASIC

Formal investigation (an investigation 26/06/2013 Insurance - Sales practices Hollard Financial Services Pty Ltd ASIC was concerned that in HFS's advertising dealing with the Agreement to implement changes to the way 13-152MR ASIC acts to improve consumer 13-152MR commenced pursuant to s13 ASIC Act or s247 price of the product it promotes funeral insurance. understanding of funeral insurance NCCP Act) •there was insufficient information about premium increases •some qualifications regarding price were inadequate and •prior to May 2012, prices quoted were not representative of imagery used in advertising. ASIC's view was there was a risk that some consumers may be mislead about these matters.

Formal investigation (an investigation 20/01/2014 Insurance - Sales practices TAL Direct Pty Limited As part of its industry review, ASIC raised with TAL Direct Pty ASIC continuing to engage with funeral 14-007MR ASIC continues to focus on funeral 14-007MR commenced pursuant to s13 ASIC Act or s247 Limited (TAL), one of Australia’s largest providers of funeral insurance providers as part of its focus on the insurance NCCP Act) insurance products under the brand ‘InsuranceLine’, its industry. concerns regarding TAL’s advertising of funeral insurance. ASIC was concerned that HFS's advertising was misleading (see 13- 152MR).

Formal investigation (an investigation 9/05/2017 Financial Advisers - Insurance advice Wealth and Risk Management Pty Ltd, Jeca Allegations of Obtained a court order which requires 17-133MR Federal Court makes order to limit 17-133MR commenced pursuant to s13 ASIC Act or s247 Holdings Pty Limited, Yes FP Pty Ltd -breaching its obligations to ensure that its representatives financial services business "Yes FS" to change operation of Melbourne-based financial NCCP Act) comply with their 'best interests' obligation and providing how it deals with its clients until the trial of services business appropriate advice to their clients, and proceedings. - engaging in misleading and deceptive conduct.

Formal investigation (an investigation 15/03/2017 Market participant & OTC issuers - Australia & New Zealand Banking Group Concern that between 1 January 2008 and 30 June 2013, both Accepted enforceable undertakings (EUs) 17-065MR ASIC accepts enforceable 17-065MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks banks failed to ensure that their systems and controls were from Westpac and ANZ. undertakings from Westpac and ANZ to NCCP Act) adequate to address risks relating to instances of address inadequacies within their wholesale inappropriate conduct identified by ASIC. The conduct was in Among other things FX businesses relation to the banks' wholesale foreign exchange (FX) -Westpac will develop a program of changes businesses. to its existing systems, controls, monitoring and supervision of employees within its spot FX business. ANZ to do similar; -Both Westpac and ANZ to make a community benefit payment of $3 million. RCD.0015.0003.0237

Public Results & Reports

Formal investigation (an investigation 21/12/2016 Market participant & OTC issuers - Commonwealth Bank of Australia Concern that between 1 January 2008 and 30 June 2013, both Accepted enforceable undertakings (EUs) 16-455MR ASIC accepts enforceable 16-455MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks banks failed to ensure that their systems and controls were from NAB and CBA. undertakings from NAB and CBA to address NCCP Act) adequate to address risks relating to instances of inadequacies within their wholesale spot FX inappropriate conduct identified by ASIC. The conduct was in Among other things businesses relation to the banks’ wholesale spot foreign exchange (FX) - NAB will develop a program of changes to businesses. its existing systems, controls, monitoring and supervision of employees within its foreign exchange business. CBA will develop a program of changes to its existing systems, controls, monitoring and supervision relating to the management of fix orders, management of stop loss orders, and external communications containing specific confidential information to address such conduct. -Both NAB and CBA to make a community benefit payment of $2.5.

Formal investigation (an investigation 21/08/2009 Funds management - Responsible Jonathan West ASIC found that despite being put on notice in May 2005 that Banned Mr Jonathan Peter West, of 09-154AD ASIC bans operator of unregistered 09-154AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes the scheme was contravening the Corporations Act 2001 Athelstone, South Australia from providing managed investment scheme for six years NCCP Act) (Corporations Act), Mr West continued to operate the scheme. financial services for six years. ASIC also found that Mr West intended to circumvent a restraining order made by the Supreme Court in March 2007 by continuing to solicit funds from investors in the scheme.

Formal investigation (an investigation 19/05/2017 Market participant & OTC issuers - Macquarie Bank Ltd Concern that the bank failed to ensure that its systems and Accepted enforceable undertaking (EU). 17-144MR ASIC accepts enforceable 17-144MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks controls were adequate to address risks relating to instances undertaking from Macquarie Bank to address NCCP Act) of inappropriate conduct identified by ASIC. The conduct was Among other things inadequacies within their wholesale FX in relation to the bank’s wholesale foreign exchange (FX) -Macquarie will develop a program of businesses businesses. changes to its existing systems, controls, training, guidance and framework for monitoring and supervision of employees in its spot FX and non-deliverable forwards businesses; -Macquarie will make a community benefit payment of $2 million Formal investigation (an investigation 21/12/2016 Market participant & OTC issuers - National Australia Bank Limited Concern that between 1 January 2008 and 30 June 2013, both Accepted enforceable undertakings (EUs) 16-455MR ASIC accepts enforceable 16-455MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks banks failed to ensure that their systems and controls were from NAB and CBA. undertakings from NAB and CBA to address NCCP Act) adequate to address risks relating to instances of inadequacies within their wholesale spot FX inappropriate conduct identified by ASIC. The conduct was in Among other things businesses relation to the banks’ wholesale spot foreign exchange (FX) - NAB will develop a program of changes to businesses. its existing systems, controls, monitoring and supervision of employees within its foreign exchange business. CBA will develop a program of changes to its existing systems, controls, monitoring and supervision relating to the management of fix orders, management of stop loss orders, and external communications containing specific confidential information to address such conduct. -Both NAB and CBA to make a community benefit payment of $2.5. RCD.0015.0003.0238

Public Results & Reports

Formal investigation (an investigation 15/03/2017 Market participant & OTC issuers - Westpac Banking Corporation Concern that between 1 January 2008 and 30 June 2013, both Accepted enforceable undertakings (EUs) 17-065MR ASIC accepts enforceable 17-065MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks banks failed to ensure that their systems and controls were from Westpac and ANZ. undertakings from Westpac and ANZ to NCCP Act) adequate to address risks relating to instances of address inadequacies within their wholesale inappropriate conduct identified by ASIC. The conduct was in Among other things FX businesses relation to the banks' wholesale foreign exchange (FX) -Westpac will develop a program of changes businesses. to its existing systems, controls, monitoring and supervision of employees within its spot FX business. ANZ to do similar; -Both Westpac and ANZ to make a community benefit payment of $3 million.

Formal investigation (an investigation 19/08/2010 Funds management - Responsible Ian Rau Carrying on a financial services business without a financial Sentenced to two years and seven months 10-176AD Former Chartwell ecretary jailed 10-176AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes services licence, four counts of engaging in dishonest conduct imprisonment on eight charges brought by on ASIC charges NCCP Act) in relation to carrying on a financial services business, and one ASIC. count each of making a false document, using a false document, and obtaining property worth $40,000 by deception. Formal investigation (an investigation 23/03/2011 Funds management - Responsible Graeme Hoy 34 charges of dishonestly obtaining $13.3 million by deception Sentenced to jail for 13 years and nine 11-55AD Chartwell director Graeme Hoy 11-55AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes from investors, 10 charges of obtaining property by deception months. sentenced to jail for 13 years & nine months NCCP Act) from investors that totalled $2.5 million, and one charge of for one of Australia's largest ponzi schemes dishonestly obtaining property in excess of $5.8 million by deception. Formal investigation (an investigation 2/04/2015 Market participant & OTC issuers - All AGM Markets Pty Ltd AGM stopped operating a financial services business in May Suspension of AFS licence for six months. 15-075MR ASIC suspends FX company’s 15-075MR commenced pursuant to s13 ASIC Act or s247 2014 however has indicated it intends to recommence its licence NCCP Act) business at the end of April 2015. This move follows a number of changes to the company’s name and corporate structure, including members. ASIC has the power to suspend or cancel an AFS licence where a financial services business has ceased to operate.

Formal investigation (an investigation 15/10/2015 Market participant & OTC issuers - All LSG Group Pty Ltd Included Cancellation of AFS licence. 15-293MRASIC cancels retail derivative 15-293MR commenced pursuant to s13 ASIC Act or s247 -repeated failure to comply with the conditions on its licence issuer's licence NCCP Act) and financial services laws; -making misleading or deceptive representations on its Australian website and its Financial Services Guide and PDS concerning products it offered; -making misleading or deceptive representations on its Chinese website; -failing to do all things necessary to conduct financial services in an efficient, honest and fair manner in relation to a deposit of US$100,000 received from an overseas client.

Formal investigation (an investigation 12/05/2015 Market participant & OTC issuers - All Rainbow Legend Group Failure to comply with its obligations, including making false Cancellation of AFS licence. 15-108MRASIC cancels FX company’s licence 15-108MR commenced pursuant to s13 ASIC Act or s247 and misleading statements. NCCP Act) Formal investigation (an investigation 20/04/2012 Market participant & OTC issuers - All Simon Gundry Engaged in misleading and deceptive conduct, and induced Administrative action by ASIC - permanently 12-74MR ASIC permanently bans former 12-74MR commenced pursuant to s13 ASIC Act or s247 investors to deal in financial products with false information. banned from providing financial services. Melbourne CFD dealer NCCP Act) Mr Gundry continued to use a deregistered business' name when he dealt with some of his 15 investors, inducing them to invest $835,168 through his trading platform.

Formal investigation (an investigation 20/02/2017 Market participant & OTC issuers - All Yingjie Wang Dishonest in that he knowingly caused Easy Capital Global Pty Permanently banned from providing financial 17-036MR ASIC permanently bans former 17-036MR commenced pursuant to s13 ASIC Act or s247 Ltd to use $100,000 of an investor's money for unauthorised services. Easy Capital director NCCP Act) purposes. Mr Wang also remained silent about a representation made to this same investor concerning the money which he knew to be false.

Formal investigation (an investigation 29/05/2017 Market participant & OTC issuers - All Gallop International Group Pty Ltd (formerly Repeated failure to comply with the conditions on its' AFS Cancellation of AFS licence. 17-159MR ASIC cancels Gallop International’s 17-159MR commenced pursuant to s13 ASIC Act or s247 known as Weather Pro Exchange Pty Ltd) licence or its' obligations under financial services laws. The Australian financial services licence NCCP Act) non-compliance related to late lodgement of financial statements, audit reports, breach reports, notifications of change in control and the appointment of an auditor. RCD.0015.0003.0239

Public Results & Reports

Formal investigation (an investigation 7/11/2017 Market participant & OTC issuers - All Gallop International Group Pty Ltd, Gallop ASIC believes that GIG, GAM and Wang are carrying on an Obtained interim injunctions in the Federal 17-372MRASIC obtains interim freezing 17-372MR commenced pursuant to s13 ASIC Act or s247 Asset Management Pty Ltd and Ming-Chien unlicensed financial services business. Neither GIG or GAM Court against the companies, freezing money orders against Gallop International Group Pty NCCP Act) Wang holds an Australian Financial Services licence, and therefore held in their bank accounts and restraining Ltd, Gallop Asset Management Pty Ltd and are not authorised to provide financial services in Australia. them from carrying on a financial services Ming-Chien Wang business in Australia without holding an Australian Financial Services licence. The companies also required to deactivate the websites www.gallopfx.com.au and www.gamfx.com.

Formal investigation (an investigation 24/04/2014 Insurance - Other WD Gelle Insurance & Finance Brokers Pty Ltd Failure to comply with its AFS licence obligations to provide its Cancellation of AFS licence. 14-086MR ASIC cancels Parramatta insurance 14-086MR commenced pursuant to s13 ASIC Act or s247 services honestly and efficiently. brokers AFS licence NCCP Act) In particular, ASIC found that the company received client funds and failed to forward them, in full, on to insurers. In addition, ASIC found there were shortfalls between the amounts received from customers and the amounts which should have been held in trust by the company on behalf of those customers. Formal investigation (an investigation 30/01/2015 Insurance - Other Warren Gelle Failure to properly monitor compliance of company's Banned from providing financial services for 15-012MR ASIC bans Sydney insurance broker 15-012MR commenced pursuant to s13 ASIC Act or s247 obligations as an AFS licencee and this facilitated the three years. for three years NCCP Act) company's failure to maintain premium funding in trust pending payment to insurers. Formal investigation (an investigation 15/12/2009 Funds management - Responsible Mirtna Holdings Pty Ltd, Mirtna Investments ASIC had alleged that Mr Lovell operated an unregistered MIS Orders in the Supreme Court of Queensland 09-252AD ASIC obtains orders to wind up 09-252AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes Pty Ltd, Mirtna Capital Ltd and Life Super Pty which raised approximately $7.9 million from more than 200 on 8 December 2009 to appoint Michael Mirtna companies NCCP Act) Ltd and to wind up the managed investment investors through the Mirtna companies. McCann of Grant Thornton as liquidator to scheme Mirtna Holdings Pty Ltd, Mirtna Investments Pty Ltd, Mirtna Capital Ltd and Life Super Pty Ltd (together Mirtna companies) and to wind up the managed investment scheme (MIS) in which the Mirtna companies had deposited funds.

Formal investigation (an investigation 30/09/2014 Insurance - Other Leslie Gentle Engaged in dishonest conduct in relation to the use of client Permanently banned from providing financial 14-255MR ASIC permanently bans former 14-255MR commenced pursuant to s13 ASIC Act or s247 funds Depositing client cheques for his own use into his services. NSW insurance broker NCCP Act) personal bank account without their permission on multiple occasions. Formal investigation (an investigation 21/08/2013 Credit - Credit intermediaries Edward Richard George Engaging in dishonest conduct On two occasions Mr George Permanently banned from providing financial 13-225MR ASIC removes mortgage broker 13-225MR commenced pursuant to s13 ASIC Act or s247 falsified and submitted eight documents for four deposit services and engaging in credit activities. from industry NCCP Act) guarantees and one home loan. The applications were for himself and four clients. The false documents included loan Note On 27 March 2014 the AAT decided Mr approval letters, employment letters and payslips. George's banning from providing financial services and engaging in credit activities be reduced from permanent to three years from 31 July 2013.

Formal investigation (an investigation 4/01/2017 Credit - Credit intermediaries Vontelle Pty Ltd Failure to comply with its obligation to maintain the Cancellation of credit licence 17-001MR ASIC cancels Vontelle Pty Ltd credit 17-001MR commenced pursuant to s13 ASIC Act or s247 competence to engage in credit activities. Failure to notify licence NCCP Act) ASIC of changes in key persons. Formal investigation (an investigation 6/05/2011 Financial Advisers - Insurance advice Tracey Burnell ASIC’s investigation found that P&C was not licensed to carry Banned from providing financial services for 11-91AD ASIC bans Victorian financial 11-91AD commenced pursuant to s13 ASIC Act or s247 on a financial services business, and that Ms Burnell had been three years. services provider NCCP Act) providing financial services on behalf of P&C between 9 July 2009 to 4 January 2011. Formal investigation (an investigation 21/08/2012 Financial Advisers - Compliance & Janeece Giraldo Financial adviser Banned for 5 years from providing financial 12-202MR Brisbane financial adviser banned 12-202MR commenced pursuant to s13 ASIC Act or s247 supervision •engaged in misleading and deceptive conduct services. for five years NCCP Act) •failed to determine the personal circumstances of her clients when giving advice •failed to provide Statements of Advice on providing recommendations concerning financial products, and •failed to disclose relevant benefits, including fees and commissions, to her clients. RCD.0015.0003.0240

Public Results & Reports

Formal investigation (an investigation 9/09/2014 Market participant & OTC issuers - All Global Derivative Services Pty Ltd Failed to comply with conditions of its AFS licence concerning Cancellation of AFSL 14-226MR ASIC cancels margin forex 14-226MR commenced pursuant to s13 ASIC Act or s247 •the appointment and ongoing competency of the key person company's AFS licence NCCP Act) on the AFS licence •notification of changes to the responsible person •lodgement of accounts •payment of debts •adequacy of financial and human resources, by failing to maintain an Australian resident director and registered office, and •failing to provide up-to-date details with the Financial Ombudsman Service and on its website.

Formal investigation (an investigation 9/06/2011 Funds management - Responsible Global Rule Pty Ltd, Frederick Hansen, Global Rule raised funds from individuals who were offered Orders, by consent, in the Supreme Court of 11-115AD ASIC obtains orders to wind up 11-115AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes William Meywes 21.6% per annum in interest payments through unsecured Queensland appointing Mr Michael McCann, Global Rule NCCP Act) loan agreements. The receivers’ report, prepared in October of Grant Thornton, as liquidator of Global 2010, estimated that around 170 individuals loaned money to Rule Pty Ltd (Global Rule) and as trustee of Global Rule and that approximately $16.3 million is still owed the Global Rule Trust. to lenders. Formal investigation (an investigation 19/05/2009 Financial Advisers - Other Mark Travis Goldenberg Failed to provide appropriate advice to a client and declare a Permanently banned from providing financial 09-90AD ASIC permanently bans former 09-90AD commenced pursuant to s13 ASIC Act or s247 conflict of interest. services Cottesloe financial adviser - WA NCCP Act) Formal investigation (an investigation 2/09/2011 Financial Advisers - Other Mark Goldenberg Breach of duties as a director by transferring approximately Sentenced to three years and one month jail. 11-195AD WA director sentenced in Perth 11-195AD commenced pursuant to s13 ASIC Act or s247 $1.5 million of investors’ money out of company for personal A reparation order of $1.7 million was also District Court to three years jail NCCP Act) benefit. made against Mr Goldenberg. Formal investigation (an investigation 26/09/2008 Financial Advisers - Other Mark Goldenberg ASIC formed the view that investor confidence cannot be Suspension of AFSL AD08-28 ASIC suspends Australian financial AD08-28 commenced pursuant to s13 ASIC Act or s247 maintained if an entity is allowed to provide financial advice services licence of WA licensee NCCP Act) while experiencing financial difficulties. Formal investigation (an investigation 1/09/2014 Market participant & OTC issuers - Goldman Sachs Australia Pty Ltd (MIR) Failure to comply with Rule 5.9.1 of the ASIC MIR, which Infringement notice issued - $35,000 14-216MR Goldman Sachs Australia Pty Ltd 14-216MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks imposes a strict obligation on Market Participants not to do pays $35,000 infringement notice penalty NCCP Act) anything which results in a market for a Product not being both fair and orderly. Formal investigation (an investigation 13/10/2009 Financial Advisers - Other 21st Century Securities Pty Ltd The Melbourne-based firm had ceased to carry on a financial Cancelled 21st Century Securities Pty Ltd’s 09-197AD ASIC cancels 21st Century 09-197AD commenced pursuant to s13 ASIC Act or s247 services business. Australian financial services licence (AFSL). securities’ financial services licence NCCP Act) Formal investigation (an investigation 25/02/2015 Funds management - Superannuation Equity Trustees Limited, Como Financial Misleading advertising - consumers may have been induced to Infringement notice issued ($40,800; $20,400 15-039MR Equity Trustees Limited and Como 15-039MR commenced pursuant to s13 ASIC Act or s247 Services Pty Ltd join Good Super because of claims made on the Good Super per entity). Financial Services each pay $20,400 penalty NCCP Act) website. Failure to also provide relevant warnings about for misleading website rollover of consumer's superannuation benefits from their existing accounts into a Good Super account, including fees, insurance entitlements and where future employer contributions would be paid.

Formal investigation (an investigation 30/11/2016 Financial Advisers - Insurance advice Chris Griggs Dishonest conduct - broker prepared and submitted Permanently banned from providing financial 16-413MR ASIC permanently bans 16-413MR commenced pursuant to s13 ASIC Act or s247 applications for insurance premium loan funding without the services Christopher John Griggs from providing NCCP Act) authority or knowledge of the named applicants and forged financial services the signatures. Approved loan funds were then paid into a bank account controlled by the broker and applied to his benefit. Formal investigation (an investigation 3/06/2010 Funds management - Responsible Lake Coogee Estate Management Pty Ltd ASIC applied to the Court for the appointment of liquidators to The Federal Court has appointed joint 10-113AD Liquidators appointed to Lake 10-113AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes manage the final and orderly winding up of the scheme. liquidators Mr Shaun Fraser and Mr James Coogee Estate management development NCCP Act) Thackray, of McGrath Nicol to wind up the scheme unregistered managed investment scheme operated by Lake Coogee Estate Management Pty Ltd (LCEM), Citibond Finance & Investments Pty Ltd (Citibond) and ALB Developments No 1 Pty Ltd (ALB) in Perth, following an application by ASIC.

Formal investigation (an investigation 19/03/2010 Financial Advisers - Compliance & Charles Phillip Grummisch Banned from providing financial services for 10-59AD ASIC bans Victorian company 10-59AD commenced pursuant to s13 ASIC Act or s247 supervision Mr Grummisch Advised approximately clients to invest in ten years director for ten years NCCP Act) companies in which he had an interest. Formal investigation (an investigation 23/07/2015 Market participant & OTC issuers - All Andrew Jeffers GTL Trade Up Pty Ltd (In Liquidation)(GTL), a company of Banned from providing financial services for 15-193MR ASIC bans former GTL Tradeup Pty 15-193MR commenced pursuant to s13 ASIC Act or s247 which Mr Jeffers was a director, issued three product three years. Ltd director NCCP Act) disclosure statements that included statements which were materially false or misleading. RCD.0015.0003.0241

Public Results & Reports

Formal investigation (an investigation 18/09/2009 Financial Advisers - Other Sean Fogarty ASIC informed the Court that it suspects that Pacific Blue ex-parte interim orders in the Federal Court 09-179AD ASIC obtains freezing orders in 09-179AD commenced pursuant to s13 ASIC Act or s247 Securities is advising on and dealing in interests in financial of Australia restraining Pacific Blue Securities relation to Pacific Blue Securities Pty Ltd NCCP Act) products without holding an Australian financial services Pty Ltd and its sole director Mr Sean Fogarty licence. from disposing of assets and prohibiting Mr Fogarty from leaving Australia without the ASIC is also concerned about a number of claims made on the consent of the Court. Pacific Blue Securities website and in literature distributed to the public. Formal investigation (an investigation 15/02/2010 Financial Advisers - Other Sean Fogarty Complaints alleging that returns on investments were not The Court ordered that Pacific Blue Securities 10-23AD Final orders made in relation to 10-23AD commenced pursuant to s13 ASIC Act or s247 honoured. We believe that in excess of $400,000 has been Pty Ltd be wound up under the provisions of Pacific Blue Securities Pty Ltd NCCP Act) invested with Pacific Blue Securities by around 40 investors. the Corporations Act and that Robyn Erskine of Brooke Bird be appointed as liquidator of the company.

The Court also ordered that Sean Fogarty be restrained •for a period of 10 years from carrying on or being knowingly concerned in the carrying on by another person of any business of dealing in financial products unless he holds or is the authorised representative of the holder of an Australian Financial Services Licence; and •for a period of six months from •taking or sending out of Australia any money, financial products or other property of Pacific Blue Securities Pty Ltd or himself; and •from leaving Australia without the consent of the Court.

Formal investigation (an investigation 22/12/2009 Financial Advisers - Other John Christopher Knorr SISS contravened sections 727(1) and 734 of the Corporations Declaratory orders and a permanent 09-267AD Orders obtained against SISS 09-267AD commenced pursuant to s13 ASIC Act or s247 Act (the Act) by making offers of securities in itself without injunction in the Federal Court of Australia in Business Systems Limited and its director NCCP Act) lodging a disclosure document with ASIC and by advertising Melbourne against SISS Business Systems offers of securities in it that needed a disclosure document. Limited (SISS) and one of its directors, Mr John Christopher Knorr. The court also ordered by consent that SISS and Mr Knorr be permanently restrained from making an offer of securities, or distributing an application form for an offer of securities that needs disclosure to investors by way of a prospectus otherwise than in accordance with section 727 of the Act.

Formal investigation (an investigation 23/06/2017 Financial Advisers - Insurance advice Robert James Gunner Failed to comply with financial services laws, in that he Banned from providing financial services for 17-197MRFormer financial adviser Robert 17-197MR commenced pursuant to s13 ASIC Act or s247 •assisted clients to access their superannuation by advising seven years. Gunner banned by ASIC for seven years NCCP Act) them to acquire multiple insurance policies through their superannuation fund; •upon receiving commission from the issuer of the insurance, Mr Gunner paid those commissions to the client less his own expenses; and •in doing this Mr Gunner created insurance application forms, client file notes, client profiles and Statements of Advice that contained false information.

Formal investigation (an investigation 10/10/2012 Credit - Credit intermediaries Athol Halvorsen, Property and Gearing.Com False and misleading conduct - submitted loan applications Banned from engaging in credit activities and 12-249MR Sydney mortgage broker banned, 12-249MR commenced pursuant to s13 ASIC Act or s247 Pty Ltd (previously known as Australian which contained information that was false and misleading from providing financial services for six years Australian credit licence cancelled NCCP Act) Finance Club Pty Ltd) about the income and employment of the borrowers

Formal investigation (an investigation 19/03/2014 Market participant & OTC issuers - All Hartleys Limited Failure to comply with Rule 5.9.1 of the ASIC MIR, which Infringement notice issued - $35,000 14-054MR Hartleys Limited pays $35,000 14-054MR commenced pursuant to s13 ASIC Act or s247 imposes a strict obligation on Market Participants not to do infringement notice penalty NCCP Act) anything which results in a market for a Product not being both fair and orderly. RCD.0015.0003.0242

Public Results & Reports

Formal investigation (an investigation 26/06/2012 Market participant & OTC issuers - All AFT Finance Market Pty Ltd Carrying on a financial services business without holding an Court orders 12-138MR ASIC acts to wind up Australia AFT 12-138MR commenced pursuant to s13 ASIC Act or s247 AFS licence, and by making false or misleading statements to -declarations that AFT had contravened Finance Market NCCP Act) encourage people to buy financial products. various sections of the Corporations Act by carrying on a financial services business without holding an AFS licence, and by making false or misleading statements to encourage people to buy financial products; -that AFT be wound up, a liquidator appointed, and for AFT to pay ASIC's costs

Formal investigation (an investigation 24/06/2016 Market participant & OTC issuers - All Oliver Curtis Former banker, Oliver Curtis, used confidential information 2 years Imprisonment (to be released after 16-202MRInsider trader sentenced to full 16-202MR commenced pursuant to s13 ASIC Act or s247 between May 1 2007, and June 30 2008 to trade on shifts in serving one year of imprisonment upon time imprisonment NCCP Act) share prices—ultimately resulting in a total net profit of entering into a recognisance to be of good $1,432,228.85. behaviour for 12 months) Formal investigation (an investigation 2/12/2010 Market participant & OTC issuers - All John Joseph Hartman Mr Hartman engaged in the insider trading of contracts for 3 years imprisonment on 25 insider trading 11-285AD Appeal on sentence upheld for 11-285AD commenced pursuant to s13 ASIC Act or s247 difference products while in possession of information about related charges (with a single pre-release John Hartman NCCP Act) Orion’s trading intentions. period of 15 months)

In December 2009, Hartman consented to the forfeiture of approximately $1.57 million to the Commonwealth under the Proceeds of Crime Act 2002

Formal investigation (an investigation 2/04/2012 Financial Advisers - Insurance advice Barry Hassell Enforceable undertaking to permanently 12-60AD ASIC accepts permanent 12-60AD commenced pursuant to s13 ASIC Act or s247 •provided advice in circumstances where the advice was not refrain from providing financial services undertaking from Adelaide adviser NCCP Act) appropriate to the client; •did not give clients Statements of Advice (SOAs) and did not retain SOAs or records of advice as required; •did not give clients information about his remuneration (including commission) or other benefits, interests, associations or relationships that might reasonably be expected to have been capable of influencing him in providing advice; •did not give clients information about charges, loss of pecuniary or other benefits, or any other significant consequences of taking the recommended action, where his advice included recommendations that clients dispose of, or reduce their interest in, particular products and instead acquire, or increase their interest in, other products; and •at times fabricated SOAs and other documents relating to the financial services he provided to clients, falsified the signatures of clients where appearing on those documents and made false or misleading statements in the documents.

Formal investigation (an investigation 15/06/2015 Financial Advisers - Insurance advice Barry Hassell Dishonest conduct, providing ASIC with false or misleading Sentenced to 12 months imprisonment, to be 15-147MR Former director convicted of 15-147MR commenced pursuant to s13 ASIC Act or s247 information and failing to provide a disclosure document to released forthwith on his own recognisance dishonest conduct NCCP Act) clients of $100, to be of good behaviour for a period of 12 months. Formal investigation (an investigation 12/11/2012 Financial Advisers - Compliance & Susan Heathwood Dishonest conduct - falsified 65 insurance applications that led Sentenced to nineteen months imprisonment 12-273MR Former financial adviser sentenced 12-273MR commenced pursuant to s13 ASIC Act or s247 supervision to her collecting over $380,000 in commissions. and twenty two months imprisonment. The NCCP Act) periods of imprisonment were wholly suspended immediately upon Ms Heathwood entering into a two year good behaviour bond in the amount of $1,000. Previously banned permanently from providing financial services (MR 12-39 AD)

Formal investigation (an investigation 7/03/2012 Financial Advisers - Compliance & Susan Heathwood Falsified more than 60 insurance policies in order to collect the Banned permanently from providing financial 12-39AD ASIC permanently bans Sydney 12-39AD commenced pursuant to s13 ASIC Act or s247 supervision ensuing commissions. services financial adviser NCCP Act) Formal investigation (an investigation 17/02/2010 Financial Advisers - Compliance & Hedge Securities and Investments Pty Ltd Company had ceased to carry on a financial services business. Cancelled AFSL 10-27AD ASIC cancels financial services 10-27AD commenced pursuant to s13 ASIC Act or s247 supervision licence of Hedge Securities & Investments NCCP Act) RCD.0015.0003.0243

Public Results & Reports

Formal investigation (an investigatio n 8/02/2011 Martet participant & OTC issuers - All Hedge Securities and Investments Pty Limited Websites purported to offer o n line financfal services - some Wesbi tes dosed down. AFSL of Hedge 11- 2tAD ASIC action doses websites and commenced pursuant to s13 ASK Act or s247 sites were run by unlicensed operators Of other misconduct cancelled. firms behind them NCCP Act wasa arent. Formal investigation {an investigation 10/ 10/2011 Financfal Ad\lisers ·Compliance & Steven Hing Mr Hing Banned from providing financfal services for 11-?JBAQ ASK haps Sydney fipaocjal 3 nd commenced pursuant to s13 ASIC Act or s247 supervision •undertoot unauthorised discretionary t rading on client four years fi ¢1'te5 a&iser NCCP Act) accounts; • cont ravened section 911C{d) of the Corporations Act 2001 {the Corporations Act} by holding out t hat t he t rades were within t he authority given to him by Novus Capital Limited; and • engaged in m isleading and deceptive conduct under s1041H of the Corporations Act through his failure to inform the clients or Novus Capital Limited that trades were not

Formal investigation (an investigatio n 13/04/2010 Funds management· Other 8erlowitz Peter Aaron Concerns about the possible operatio n of a Ponzi-style Interim orders against Peter van de Steeg. lQ=?ZAQ fyQ:(h frpreg as ASIC jpyestirates commenced pursuant to s13 ASK Act o r s247 Van De Steeg Peter scheme. Jonathan E.uy, Peter Ber1owitz (all of Victoria ~ NCCP Act) Euy Jonathan Peter and Scott Walker (of Western Australia) and Van De Stegg Peter t heir 16 associated companies. Euy Jonathan Peter Walker Scott Kenneth Meloka Pty. Ltd. Contango Investments Pty. ltd. Dix-Walker Pty. ltd. Teronte Pty. Ud. Namrepus Pty. ltd. Atnah Pty. Ud.

Formal investigatio n (an investigatio n 21/04/2010 Martet participant & OTC issuers· All Roy Ho Contravent io n of section 1041G(1) · used nine d ients t rading Banned permanently from providing fi nancial 10-83AO Fonner Brisbane client advisor 10-83AO comme nced pursuant to s13 ASIC Act o r s247 accounts at Stonebridge to place buy and sell orders for share services banned for life NCCP Act) on t he ASX without permissio n from the authorised signatories to the accounts. He further falsified order entries in Stone.bridge's order system indicating he had received instructio ns from d ients regarding the trading when he had

Formal investigation (an investigatio n 21/05/2012 Financfal Al:Msers ·Compliance & Ja mes Hobson Misappropriated $307,000 and attempted to m isappropriate Sentenced on four counts to two years 12-l OOMR former Syt\'\ey financial adviser 12-lOOMR commenced pursuant to s13 ASK Act o r s247 supervision $120,000 of client funds while worting for Noall & Co. imprison.ment,, s uspended on the offender sentenced o n fraud charges NCCP Act) entering into a two year good behaviour bond, and on a fifth count,. sentenced to five years good behaviour. Banned permanently from providing financial services as a result his conviction.

Formal investigation (an investigatio n 22/02/2013 Financfal Al:Msers ·Other Jonathon Kur Th ree counts of fraud worth $7,.556,n3. Mr Kur intentionally Sentenced to four years jail. Previousty, in B-032MR former Hogan and Partners comme nced pursuant to s13 ASIC Act o r s247 hid trading losses he accum ulated o n t hree overseas client 2009, ASIC permanently banned Mr Kur from g ockbmt" zntenrgd to jajl We zoo;ms NCCP Act) accounts (refer 12-28SMR). providing financial services (refer A009-120}. ~

Formal investigation (an investigatio n 10/07/20<:8 Financfal Al:Msers ·Other Jonathon Kur Mr Kur Banned permanently from providing financial AQ09-120 f prmer Hpgan Pjrtnecy commenced pursuant to s13 ASK Act o r s247 a.engaged in misleading or deceptive conduct in relation to a services g ockbmters nermanentlv h a n pgd NCCP Act) fi nancial service; b.induced clients to trade in options by publishing a statement he knew was false; c.acted contrary to his d ients instructions; and d.engaged in dishonest conduct in t he provision of financial seMces. RCD.0015.0003.0244

Public Results & Reports

Formal investigation (an investigation 16/02/2016 Funds management - Responsible Tim Hornibrook Breached duties as an officer of a responsible entity of a Banned from providing financial services for a 16-035MR ASIC bans former director and 16-035MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes registered managed investment scheme by period of six years. responsible manager of Macquarie subsidiary NCCP Act) •failing to act honestly; •misusing the information he acquired as a director of MAFML in order to gain an improper advantage for himself, MAFML and/or Macquarie Crop Partners LP (MCP); and •misusing his position as director of MAFML to gain an advantage for MAFML and/or MCP.

Formal investigation (an investigation 14/07/2017 Funds management - Responsible Huntley Management Ltd False and misleading advertising that its investment projects Infringement notice issued ($50,000). 17-236MRHuntley Management Ltd ordered 17-236MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes were 'approved by the Australian Securities and Investments Additional orders to pay penalty for false and misleading NCCP Act) Commission'. •Post notices on the website about the advertising statements being misleading; and •Pay ASIC's litigation costs.

Formal investigation (an investigation 30/01/2012 Insurance - Other Craig Horsell Dishonestly obtained more than $400,000 from clients over a Permanently banned from providing financial 12-10AD ASIC permanently bans former SA 12-10AD commenced pursuant to s13 ASIC Act or s247 two-year period. services. director NCCP Act) Formal investigation (an investigation 17/05/2013 Insurance - Other Craig Horsell Mr Horsell acted dishonestly when he authorised the transfers Fined $75,000 and sentenced to three years 13-109MR Former director of South 13-109MR commenced pursuant to s13 ASIC Act or s247 of 89 insurance premium payments from clients into his in jail to be released immediately upon Australian insurance broker sentenced NCCP Act) personal bank account but did not purchase the insurance entering into a three year good behaviour products requested by the clients. bond after pleading guilty to three charges of dishonestly using his position to authorise payments into his account.

Formal investigation (an investigation 23/01/2014 Credit - Credit intermediaries Hyuk Hwang Involved in the submission of false documents to secure a loan Banned from engaging in credit activities for 14-012MR ASIC bans former Sydney 14-012MR commenced pursuant to s13 ASIC Act or s247 worth $250,000. three years mortgage broker and real estate agent NCCP Act) Formal investigation (an investigation 21/10/2015 Financial Advisers - Insurance advice Isaac Hakim Engaged in misleading and deceptive conduct in relation to the Permanently banned from providing financial 15-304MR ASIC permanently bans NSW 15-304MR commenced pursuant to s13 ASIC Act or s247 fees. False invoices sent to clients, charged clients broker fees services insurance broker NCCP Act) in excess of those disclosed in its FSG, also charged clients broker fees in circumstances where Leedham received a commission payment from the insurer, contrary to statements in the FSGs. Those excess fees totalled more than $3m.

Formal investigation (an investigation 19/11/2015 Financial Advisers - Insurance advice Leedam Pty Limited Ceased to carry on financial services business. Cancellation of AFSL 15-346MR ASIC cancels AFS licence of 15-346MR commenced pursuant to s13 ASIC Act or s247 insurance broker NCCP Act) Formal investigation (an investigation 14/05/2015 Market participant & OTC issuers - All ICAP Futures (Australia) Pty Ltd Failure to comply with Rule 3.1.11 of the ASIC MIR, which Infringement notice issued - $50,000 15-109MR ICAP Futures (Australia) Pty Ltd 15-109MR commenced pursuant to s13 ASIC Act or s247 imposes a strict obligation on Market Participants not to trade pays $50,000 infringement notice penalty NCCP Act) to the exclusion of others. Failure to comply with Rule 3.3.1A which ensures alignment with supervisory policy and procedure requirements to assist market participants comply with MIR, operating rules and the Act Formal investigation (an investigation 17/04/2014 Market participant & OTC issuers - All Instinet Australia Pty Ltd Entry of an erroneous order which resulted in the market for Infringement notice issued - $50,000 14-050MR Instinet Australia Pty Limited pays 14-050MR commenced pursuant to s13 ASIC Act or s247 Renison Consolidated Mines NL March 2012 convertible notes $50,000 infringement notice penalty NCCP Act) not being both fair and orderly. Formal investigation (an investigation 8/08/2013 Market participant & OTC issuers - All Instinet Australia Pty Ltd Failure to comply with Rule 5.6.1(1) of the ASIC MIR, which Infringement notice issued - $130,000 13-208MR Instinet Australia Pty Limited pays 13-208MR commenced pursuant to s13 ASIC Act or s247 requires trading participants to have appropriate automated $130000 infringement notice penalty NCCP Act) filters for their automated order processing (AOP) systems.

Formal investigation (an investigation 27/08/2013 Market participant & OTC issuers - All Interactive Brokers LLC Licence authorisation did not allow entity to provide margin Interactive Brokers LLC (IB) has stopped 13-232MR ASIC surveillance prompts 13-232MR commenced pursuant to s13 ASIC Act or s247 lending facilities. providing new margin loans to its Australian brokerage to stop new margin loans NCCP Act) clients after ASIC raised concerns.

Formal investigation (an investigation 16/12/2014 Market participant & OTC issuers - All Interactive Brokers LLC IB did not hold an Australian financial services licence (AFS) Under an EU, IB will refund approximately 14-336MR ASIC investigation leads to 14-336MR commenced pursuant to s13 ASIC Act or s247 licence which authorised the provision of margin loans. $1.5 million in fees and commission Interactive Brokers refunding $1.5 million to NCCP Act) Concerns that IB did not comply with its responsible lending payments to its retail margin lending Australian customers obligations when issuing margin loans by not verifying customers, pay $100,000 to Financial Rights customers’ financial information. Legal Centre for consumer education and engage an independent consultant. RCD.0015.0003.0245

Public Results & Reports

Formal investigation (an investigation 14/12/2017 Market participant & OTC issuers - All Interactive Brokers LLC Failure to comply with MIR (Chi-X Australia Market), which Infringement notice issued - $250,000 17-432MRInteractive Brokers LLC pays 17-432MR commenced pursuant to s13 ASIC Act or s247 prohibits a market participant from making bids for shares on Interactive Brokers has undertaken $250,000 infringement notice penalty NCCP Act) account of another person. significant steps to prevent recurrence of the conduct, by implementing further training and guidance to its senior trading desk staff, and increasing its compliance resources.

Formal investigation (an investigation 4/03/2010 Financial Advisers - Insurance advice Terrence Wayne McDonald ASIC found that Mr McDonald had engaged in conduct that Banned from providing financial services for 10-40AD ASIC bans Victorian man from 10-40AD commenced pursuant to s13 ASIC Act or s247 was likely to deceive the insurance broker and his clients by 10 years providing financial services for ten years NCCP Act) claiming that insurance payments had been forwarded to the broker's trust account and representing to his clients that they were insured, when this was not the case.

Formal investigation (an investigation 5/06/2012 Credit - Credit intermediaries Ravind Prasad, Jazzrozz Pty Ltd Providing false and misleading statements in credit licence Banned from engaging in credit activities for 12-115MR ASIC bans former broker for three 12-115MR commenced pursuant to s13 ASIC Act or s247 application. three years years NCCP Act) Formal investigation (an investigation 15/06/2017 Funds management - Other Colin Oxlade Mr Oxlade's disqualification follows the appointment of Disqualified former director from managing 17-187MRASIC bans South Australian director 17-187MR commenced pursuant to s13 ASIC Act or s247 liquidators to two companies he managed companies for four years. of failed companies for four years NCCP Act) •Vanilla Management & Investment Group Pty Ltd (ACN 140 550 787) •Africa Uranium Ltd (ACN 123 144 347)

ASIC also found that •Mr Oxlade has a history as the director of multiple failed companies and unpaid creditors over a period of at least 12 years; •in the case of three companies - Ox Marketing Pty Ltd, Vanilla Group and Africa Uranium - the amount owed to creditors was substantial; and •Mr Oxlade's own management of the companies contributed to their failure Formal investigation (an investigation 12/08/2016 Insurance - Other Timothy Charles Pratten Convicted on seven counts of dishonestly obtaining a financial Permanently banned Mr Pratten from 16-254MR ASIC bans former NSW director of 16-254MR commenced pursuant to s13 ASIC Act or s247 advantage from the Commonwealth by deception. providing financial services and from Australian financial services licensee from NCCP Act) engaging in credit activities. financial services and credit activities Mr Pratten was sentenced to five years jail with a two-year non-parole period.Automatically disqualified from managing corporations. Formal investigation (an investigation 20/07/2015 Credit - Other Eric-John Pryor, Peter McDonald Engaged in dishonest and misleading conduct when brokering Pryor and McDonald both permanently 15-189MR ASIC permanently bans Perth 15-189MR commenced pursuant to s13 ASIC Act or s247 motor vehicle financing for twelve clients. banned from engaging in credit activities and finance brokers NCCP Act) providing financial services. Misled vulnerable clients with poor credit histories to believe they would be approved for vehicle finance if their loan applications were supported by guarantors. Rather, Mr Pryor and Mr McDonald prepared loan applications solely in the names of the proposed guarantors without those persons' knowledge or consent. ASIC also found that, Mr Pryor and Mr McDonald •personally profited from the sale of vehicles to three clients in circumstances where they had sourced the vehicle, artificially inflated the sales price and failed to disclose their interests in the transaction •fabricated insurance policies in relation to five loans so as to mislead the lender about the existence of mandatory comprehensive insurance policies being in place for those clients.

Formal investigation (an investigation 27/10/2015 Credit - Credit intermediaries Get Approved Finance Brokers engaged in unfair conduct by having Esanda approve Negotiated outcome - Esanda agreed to 15-312MR Esanda compensates consumers 15-312MR commenced pursuant to s13 ASIC Act or s247 loans for consumers with poor credit histories, who otherwise compensate more than 70 borrowers for car for conduct by finance broker NCCP Act) did not meet Esanda's lending criteria. The brokers also sold loans. add-on products (such as insurance or warranties), on behalf of various insurers, to some borrowers without their knowledge or consent. RCD.0015.0003.0246

Public Results & Reports

Formal investigation (an investigation 9/12/2015 Credit - Other Rana Hepi ASIC found that Ms Hepi had engaged in dishonest and Banned from engaging in credit activities and 15-374MR ASIC bans Perth finance broker 15-374MR commenced pursuant to s13 ASIC Act or s247 misleading conduct when brokering motor vehicle financing. providing financial services for eight years. NCCP Act) Ms Hepi misled vulnerable clients with poor credit histories to believe they would be approved for vehicle finance if their loan applications were supported by guarantors. Ms Hepi then dishonestly prepared loan applications solely in the names of the proposed guarantors without those persons' knowledge or consent. ASIC also found that Ms Hepi •created and/or procured fictitious documents including ID certifications, vehicle inspection declarations and invoices for the purchase of vehicles and submitted those documents to Esanda in support of loan applications; •misrepresented the make and/or model of the vehicle to be financed so that she could increase the number of additional finance products also financed under the loan; •inflated loan amounts by selling and financing insurance and warranty products without her clients' knowledge or consent; •fabricated insurance policies so as to mislead Esanda that comprehensive insurance policies had been issued for the vehicles to be financed when in fact no such policies existed; and •destroyed and/or omitted documents to conceal adverse information from Esanda that might have caused it to reject the loan applications.

Formal investigation (an investigation 18/04/2016 Credit - Other Julie Vanzyl Engaged in dishonest and misleading conduct when brokering Banned permanently from engaging in credit 16-116MR ASIC permanently bans finance 16-116MR commenced pursuant to s13 ASIC Act or s247 motor vehicle financing. Mrs Vanzyl misled vulnerable clients activities and providing financial services. broker NCCP Act) with poor credit histories to believe they would be approved for vehicle finance if their loan applications were supported by guarantors. Mrs Vanzyl then dishonestly prepared loan applications solely in the names of the proposed guarantors without those persons' knowledge or consent.Mrs Vanzyl inflated loan amounts by selling and financing insurance products without her clients' knowledge or consent, and misled Esanda about the existence of insurance policies for clients who were settling loans.

Formal investigation (an investigation 10/08/2017 Funds management - Other Michael Samra Mr Samra through ALC Group Pty Ltd deceived investors to Six charges of decption totalling $1.902 17-267MRFormer company director 17-267MR commenced pursuant to s13 ASIC Act or s247 lend money to be on-lent to builders and property developers, million. Sentenced in the Adelaide District sentenced to 8 years, 9 months jail for NCCP Act) when in fact the monies were not on-lent and dishonestly Court to 8 years and 9 months imprisonment, deception benefited the ALC Group Pty Ltd or another party (refer 15- with a minimum of 4 years and 6 months to 126MR and 17-104MR). be served before becoming eligible for parole. Formal investigation (an investigation 9/05/2016 Credit - Other Grant Parker Engaged in misleading conduct when brokering motor vehicle Banned permanently from providing financial 16-132MR ASIC bans a fifth broker from Get 16-132MR commenced pursuant to s13 ASIC Act or s247 financing. services Approved Finance NCCP Act) Mr Parker misled vulnerable clients with poor credit histories to believe they would be approved for vehicle finance if their loan applications were supported by guarantors. Mr Parker then dishonestly prepared loan applications solely in the names of the proposed guarantors without those persons' knowledge or consent.

ASIC also found that Mr Parker facilitated the issuing of financial products in his clients' name and inflated loan amounts by selling and financing insurance and warranty products without his clients' knowledge or consent. RCD.0015.0003.0247

Public Results & Reports

Formal investigation (an investigation 14/10/2014 Credit - Credit intermediaries Malcolm Jones Fraud - one count of aggravated deception and one count of Permanently banned from providing financial 14-271MR ASIC permanently bans former 14-271MR commenced pursuant to s13 ASIC Act or s247 aggravated dishonestly dealing with a document. The offences services and engaging in credit activity. Mr South Australian finance broker NCCP Act) involved Mr Jones forging a memorandum of mortgage, which Jones was sentenced to imprisonment for he used to defraud $170,000 from an investor. two years and five months, with a 15 month non-parole period, on 10 September 2014.

Formal investigation (an investigation 23/07/2014 Financial Advisers - Compliance & Adam Joyner Engaged in dishonest conduct and was not of good fame or Banned permanently from providing financial 14-176MR ASIC permanently bans former 14-176MR commenced pursuant to s13 ASIC Act or s247 supervision character. Mr Joyner used client funds for purposes other than services Sydney financial adviser NCCP Act) instructed by the client. Mr Joyner also failed to cooperate with ASIC in responding to compulsory statutory notices and obstructed or hindered an ASIC officer.

Formal investigation (an investigation 19/03/2013 Funds management - Other China Environment Group, John Ullmann ASIC alleges that CEG, a company incorporated in the British Interim orders in the Federal Court stopping 13-053MR ASIC acts to stop offshore scam 13-053MR commenced pursuant to s13 ASIC Act or s247 Virgin Islands entered into an agreement with another China Environment Group and its director netting Australian investors NCCP Act) company for the sale of CEG shares, which were actually the from selling CEG shares and preventing them director's own shares. ASIC alleges that the sole director of from providing financial services in Australia. CEG, acquired 100M shares in CEG for one US cent each. Investors were then sold the director’s shares for US$1.00. ASIC further alleges that promotional materials were presented in a manner so as to deceive investors into believing that their money would be directed to CEG to enable it to develop clean air technologies in China.

Formal investigation (an investigation 16/05/2013 Funds management - Other China Environment Group, John Ullmann ASIC found that CEG, a company incorporated in the British The Federal Court orders prohibit CEG and Mr 13-107MR ASIC shuts down China 13-107MR commenced pursuant to s13 ASIC Act or s247 Virgin Islands entered into an agreement with another Ullmann (its sole director) from Environment Group share scam NCCP Act) company for the sale of CEG shares, which were actually the • offering securities (including shares) to any director's own shares. ASIC alleges that the sole director of person in Australia CEG, acquired 100M shares in CEG for one US cent each. • soliciting investment or receiving funds Investors were then sold the director’s shares for US$1.00. from members of the public intended for ASIC further alleges that promotional materials were investment in CEG, and presented in a manner so as to deceive investors into • carrying on a financial services business in believing that their money would be directed to CEG to enable Australia, including providing advice, or it to develop clean air technologies in China. arranging for any person to acquire a financial product Formal investigation (an investigation 7/05/2013 Insurance - Sales practices JustEzi Pty Ltd Potentially misleading content on the insurance comparison Negotiated outcome - removal of misleading 13-101MR ASIC concerns lead to insurance 13-101MR commenced pursuant to s13 ASIC Act or s247 website of JustEzi Pty Ltd. ASIC found the estimates may be content. comparison website changes NCCP Act) misleading because a consumer may consider •an ‘Ezi-Estimate’ to be the same as a quote obtained from an insurer’s website •the ranking (on price) given to insurers to be the same as the ranking (on price) if the quotes were obtained from the various insurers’ websites.

Formal investigation (an investigation 23/07/2014 Credit - Credit intermediaries Shilpa Karandikar Submitted a $243,000 home loan application on behalf of a Banned from engaging in credit activities for 14-173MR ASIC bans Melbourne mortgage 14-173MR commenced pursuant to s13 ASIC Act or s247 client in July 2012 that contained false payslips, false four years broker for submitting false documents NCCP Act) employment documents and a false bank statement.

Formal investigation (an investigation 14/12/2017 Credit - Credit intermediaries Shilpa Karandikar Contravention of the terms of ASIC banning order. Engaged in Permanently banned from engaging in credit 17-434MRASIC permanently bans Melbourne 17-434MR commenced pursuant to s13 ASIC Act or s247 credit activities while banning order was in force. activities. couple for contravening an ASIC banning NCCP Act) order and engaging in misleading and deceptive conduct Formal investigation (an investigation 14/12/2017 Credit - Credit intermediaries Shrikrishna Karandikar Contravention of the terms of ASIC banning order. Engaged in Permanently banned from engaging in credit 17-434MRASIC permanently bans Melbourne 17-434MR commenced pursuant to s13 ASIC Act or s247 credit activities while banning order was in force. activities. couple for contravening an ASIC banning NCCP Act) order and engaging in misleading and deceptive conduct RCD.0015.0003.0248

Public Results & Reports

Formal investigation (an investigation 10/05/2011 Financial Advisers - Compliance & Kevin Whiting Licensee failed to take reasonable steps to ensure its 3 month suspension of AFSL and four year 11-95AD ASIC suspends Victorian AFS licence 11-95AD commenced pursuant to s13 ASIC Act or s247 supervision representatives complied with financial services laws and banning of an authorised representative and bans adviser for four years NCCP Act) were adequately trained. The authorised representative •engaged in misleading and deceptive conduct under s1041H of the Corporations Act 2001 (the Corporations Act), •made false and misleading statements in breach of s1041E of the Act by describing an investment in BDT as a fixed interest investment when this was not the case, and •failed to determine the personal circumstances of his clients when giving advice, in breach of s945A(1)(a)(i) of the Corporations Act.

Formal investigation (an investigation 17/11/2009 Financial Advisers - Compliance & Martin Kennedy Failed to adequately explain the risks of trading in accordance Not to participate in the financial service 09-227AD ASIC accepts undertakings from 09-227AD commenced pursuant to s13 ASIC Act or s247 supervision with their strategy and failed to ensure that option trading for industry for a period of 4 years. former Macquarie advisors NCCP Act) all relevant clients was conducted in accordance with the mandated MEL framework.

Formal investigation (an investigation 17/11/2009 Financial Advisers - Compliance & Bradley David Dohrmann Failed to adequately explain the risks of trading in accordance Not to participate in the financial service 09-227AD ASIC accepts undertakings from 09-227AD commenced pursuant to s13 ASIC Act or s247 supervision with their strategy and failed to ensure that option trading for industry for a period of 2 years. former Macquarie advisors NCCP Act) all relevant clients was conducted in accordance with the mandated MEL framework.

Formal investigation (an investigation 9/11/2017 Funds management - Other Jana Jaros Operating a financial services business without a licence and 3 monthsimprisonment, to be released 17-378MROperators of 'binary options 17-378MR commenced pursuant to s13 ASIC Act or s247 lodging false documents to ASIC containing false or misleading immediately. Sentenced but released on trading boiler room' convicted and sentenced NCCP Act) material. condition of good behaviour for three years, with Ms Jaros on a $2,000 bond Formal investigation (an investigation 9/11/2017 Funds management - Other Jackson Capper Operating a financial services business without a licence and Sentenced but released on condition of good 17-378MROperators of 'binary options 17-378MR commenced pursuant to s13 ASIC Act or s247 lodging false documents to ASIC containing false or misleading behaviour for three years, on a $5,000 bond trading boiler room' convicted and sentenced NCCP Act) material. Formal investigation (an investigation 15/06/2010 Financial Advisers - Insurance advice Steven Ker Engaged in dishonest conduct by repeatedly representing to Banned permanently from providing financial 10-123AD ASIC permanently bans WA man 10-123AD commenced pursuant to s13 ASIC Act or s247 clients that they had insurances policies in place when services from providing financial services NCCP Act) insurance policies did not exist, exposing clients to potential losses. Formal investigation (an investigation 29/10/2012 Financial Advisers - Other Alec Khoo Failed to have a reasonable basis for advice that clients borrow Banned from providing financial services for 12-259MR ASIC bans Adelaide financial 12-259MR commenced pursuant to s13 ASIC Act or s247 funds through a margin lending facility and invest a substantial three years adviser for three years NCCP Act) portion of those funds in cash investments for up to three years (resulted in loss). Failed to provide statements of advice to clients when required to do so. Failed to include mandatory information about margin lending facilities in statements of advice and also provided a statement of advice to a client which contained information that was likely to mislead. Formal investigation (an investigation 8/08/2013 Market participant & OTC issuers - John Kay Jin Khoo Insider trading - Mr Khoo gained inside information of a Sentenced to a minimum of 14 months in jail, 13-209MR Former Royal Bank of Canada 13-209MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks proposed takeover and communicated the inside information to be released on his own recognisance in the employee jailed for insider trading NCCP Act) to Mr Jia Yao Mathew Tan, who was also sentenced. sum of $500 to be of good behaviour for the remaining 9 months, after pleading guilty to four charges of communicating inside information to two persons.

Formal investigation (an investigation 22/11/2017 Funds management - Responsible DanFX Trade, DanFX Investments Holdings Pty Operated an unregistered managed investment scheme that Supreme Court appointed receiver and 17-396MRASIC obtains orders against Gold 17-396MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Ltd, D&S Properties Pty Ltd, Daniel Farook Ali has raised approximately $13 million from more than 200 manager. Freezing orders were also made Coast company, DanFX Trade and Daniel Ali NCCP Act) investors restraining the disposal of any property RCD.0015.0003.0249

Public Results & Reports

Formal investigation (an investigation 24/06/2011 Financial Advisers - Other Kilara Financial Solutions Pty Ltd ASIC held concerns that Kilara Accepted an enforceable undertaking to 11-122AD Kilara Financial Solutions 11-122AD commenced pursuant to s13 ASIC Act or s247 •did not consider the clients’ existing superannuation fund modify aspects of its compliance culture and enforceable undertaking NCCP Act) when providing advice to switch superannuation funds to remedy past compliance concerns in the •did not consider, or in the alternative, failed to document the provision of financial advice to retail clients. consideration of the relevant personal circumstances, risk tolerance, goals and objectives of some of the clients •systematically provided defective Statement of Advice documents to clients; and •failed to provide a Statement of Advice document when advice was provided on a time critical basis in two instances.

Formal investigation (an investigation 17/08/2011 Financial Advisers - Other Kinetic Securities Pty Ltd Voluntary liquidation. Suspension of AFSL 11-175AD ASIC suspends Kinetic Securities 11-175AD commenced pursuant to s13 ASIC Act or s247 licence NCCP Act) Formal investigation (an investigation 14/09/2016 Credit - Credit intermediaries Kerrie King Five counts of obtaining property by deception, two counts of Permanently banned from providing any 16-310MR ASIC permanently bans Victorian 16-310MR commenced pursuant to s13 ASIC Act or s247 obtaining financial advantage by deception, and other financial services and engaging in any credit woman from providing financial services NCCP Act) unrelated charges. activities. Ms King stole funds from clients and forged loan documents in the names of these clients. She also provided false Sentenced to a five-year term of documentation relating to a loan application on her own imprisonment, with a non-parole period of behalf. The total value of the deceptions amounted to more three years. than $1.3 million. Formal investigation (an investigation 21/11/2014 Financial Advisers - Other Todd King Stealing two parcels of Wesfarmers Ltd shares valued at Sentenced to two years jail and was made 14-310MR Former financial adviser jailed for 14-310MR commenced pursuant to s13 ASIC Act or s247 approximately $1,479,050 from a client’s account to meet eligible for parole. two years NCCP Act) margin calls on Mr King’s mother’s margin lending account.

Formal investigation (an investigation 25/05/2011 Financial Advisers - Other Todd King ASIC found that Mr King engaged in misleading and deceptive Banned permanently from providing financial 11-106AD ASIC bans WA financial adviser 11-106AD commenced pursuant to s13 ASIC Act or s247 conduct between July 2007 and June 2008 in breach of the services NCCP Act) Corporations Act 2001 (the Act) by •Placing a scanned copy of a client’s signature on a document which made possible the unauthorised transfer of 40,000 client shares with a value of approximately $1.5 million, •Transferring funds from a client’s account for his own use in breach of an agreement with another client not to do so, •Accepting an appointment as a director of a client’s company and •Undertaking unauthorised discretionary trading on a client’s account. ASIC also found that Mr King operated managed discretionary accounts in contravention of ASANDAS’ Australian financial services (AFS) licence and in contravention of section 911B(1) of the Act.

Formal investigation (an investigation 10/11/2016 Funds management - Other Frederick Hansen Dishonestly used position as director with the intention of Sentenced in the Southport District Court to 4 16-386MR Former Gold Coast company 16-386MR commenced pursuant to s13 ASIC Act or s247 causing a detriment (unrelated personal debt) to the years imprisonment. director jailed after pleading guilty to NCCP Act) company. dishonestly dealing with millions of dollars of company funds Formal investigation (an investigation 3/02/2012 Funds management - Other Golden Sparrow Pty Ltd, GS Contracting Pty Operating an unlicensed and fraudulent financial services Court order for company to be wound up. 12-16AD ASIC obtains Supreme Court orders 12-16AD commenced pursuant to s13 ASIC Act or s247 Ltd, Michelle Bruhn business, defrauding 36 investors in excess of $350,000. against fraudulent Gold Coast financial NCCP Act) Also declarations services business -That Golden Sparrow, GS Contracting and Ms Bruhn carried on a financial services business without holding an Australian financial services (AFS) licence; and -For Ms Bruhn, Golden Sparrow and GS Contracting be restrained from carrying on a financial services business without holding an AFS licence. RCD.0015.0003.0250

Public Results & Reports

Formal investigation (an investigation 13/09/2010 Market participant & OTC issuers - All William Klusman Procured secret profits for relatives when purchasing shares Banned from providing financial services for 10-189AD ASIC bans Sydney stockbroker for 10-189AD commenced pursuant to s13 ASIC Act or s247 for Regional Express Holdings Limited (Rex) during the airline’s three years market manipulation and misleading and NCCP Act) on-market share buy-back. ASIC also found that Mr Klusman deceptive conduct engaged in misleading and deceptive conduct on 17 September 2008, when he made a statement that he had heard a rumour that Limited (Macquarie) was going to announce a rights issue.

Formal investigation (an investigation 18/04/2016 Funds management - Other Steven Hill Induced various investors to pay approximately $618,000 to Sentenced to 2 years and 9 months 16-118MR Former Company Director 16-118MR commenced pursuant to s13 ASIC Act or s247 acquire interests in a 'house and land' property development. imprisonment, with a minimum of 1 year and sentenced to 2 years and 9 months jail for NCCP Act) Misappropriated $281,000 of the invested funds. 9 months to be served before becoming fraudulent misappropriation eligible for parole. Formal investigation (an investigation 15/09/2016 Funds management - Other Steven William Hill Induced various investors to pay approximately $618,000 to Permanently banned from engaging in credit 16-312MR ASIC permanently bans former 16-312MR commenced pursuant to s13 ASIC Act or s247 acquire interests in a 'house and land' property development. activities and providing financial services. company director in relation to fraudulent NCCP Act) Misappropriated $281,000 of the invested funds. misappropriation

Formal investigation (an investigation 27/07/2012 Funds management - Other Senen Pousa, Investment Intelligence Carrying on a financial services business without holding an Obtaining interim court orders for 12-175MR ASIC freezes suspect funds held by 12-175MR commenced pursuant to s13 ASIC Act or s247 Corporation Pty Ltd Australian financial services (AFS) licence. - freezing of funds; unlicensed financial mentoring company NCCP Act) -prohibiting departure of director Formal investigation (an investigation 10/06/2014 Funds management - Other Sebastian Konjevic Mr Konjevic had engaged in misleading and deceptive because Banned from providing financial services for 14-124MR ASIC bans former Victorian client 14-124MR commenced pursuant to s13 ASIC Act or s247 he five years adviser for five years NCCP Act) •had not adhered to various UBS codes of conduct, including the Code of business conduct and ethics of UBS, Gifts policy and Corruption policy, and was in a position of conflict, and •was likely to have misled his employer and UBS Wealth Management Australia Ltd (UBS Wealth) into assuming that he was complying with the various codes of conduct and relevant policies, and was not in a position of conflict as required under those policies, when this was not the case.

Formal investigation (an investigation 12/03/2012 Market participant & OTC issuers - All Pawel Kulisiewicz Mr Kulisiewicz created an unapproved discretionary trading Banned from providing financial services for 12-48AD Former Stonebridge broker banned 12-48AD commenced pursuant to s13 ASIC Act or s247 authorisation form on StoneBridge letterhead and sent it to a three years for three years NCCP Act) client. In doing so, Mr Kulisiewicz engaged in misleading or deceptive conduct by holding out that it was within authority of the scope of his employment to provide discretionary trading services. Mr Kulisiewicz thereafter conducted a number of discretionary trades on that client’s account until 27 April 2010, contrary to the conditions of his employment.

Formal investigation (an investigation 27/05/2016 Financial Advisers - Bank advice Tak Simson Kwok In particular, ASIC found that Mr Kwok Banned permanently from providing financial 16-163MR Former Perth financial planner 16-163MR commenced pursuant to s13 ASIC Act or s247 • misled and deceived four individual clients into investing a services permanently banned from financial services NCCP Act) total of $1,975,000 that they falsely believed had been placed industry into a HSBC AP • misled and deceived a further two individual clients into investing or reinvesting a total of $2,295,000 into what the clients falsely believed was a HSBC AP Annuity investment • engaged in conduct that was dishonest, including forging documents and signatures to disguise the fact that client money had not been invested into a HSBC AP; and • misled and deceived HSBC into erroneously believing he was only providing recommendations to the clients about products on the HSBC AP list and in accordance with HSBC policies.

Formal investigation (an investigation 5/07/2011 Credit - Credit intermediaries Kristy Ann Lake Guilty of two charges of obtaining property by deception in Pemanently banned from engaging in credit 11-135AD ASIC permanently bans Victorian 11-135AD commenced pursuant to s13 ASIC Act or s247 breach of section 81 of the Crimes Act 1958 (Vic). Ms Lake activities finance broker NCCP Act) submitted loan applications to two financial institutions, falsely using another person’s name. Each of the applications was successful, resulting in Ms Lake obtaining a loan of $12,655 on the first occasion and $13,149 on the second occasion. RCD.0015.0003.0251

Public Results & Reports

Formal investigation (an investigation 5/12/2013 Credit - Credit intermediaries Award Mortgage Solutions Concerns relating to compliance with obligations as an Negotiated outcome - imposed an additional 13-326MR ASIC imposes condition on Award 13-326MR commenced pursuant to s13 ASIC Act or s247 Australian credit licensee, including licence condition. Mortgage Solutions credit licence NCCP Act) • general conduct • responsible lending, which is a key obligation of the National Credit Act, and • the appointment, supervision and training of its representatives, both in Australia and overseas.

Formal investigation (an investigation 3/09/2014 Credit - Credit intermediaries David Cacciola Gave information and documents to lenders, knowing or Banned from engaging in credit activities for 14-221MR ASIC bans former mortgage broker 14-221MR commenced pursuant to s13 ASIC Act or s247 reckless as to whether the information and documents were nine years for nine years NCCP Act) false or misleading. Formal investigation (an investigation 5/12/2012 Market participant & OTC issuers - All Joseph Levi Insider trading - tipping of inside information concerning the Sentenced to 18 months imprisonment, to be 12-305MR Former investment bank employee 12-305MR commenced pursuant to s13 ASIC Act or s247 acquisition of Valad Property Group Limited by affiliates of the released immediately on her own and friend sentenced for insider trading NCCP Act) Blackstone Group L.P. announced on the Australian Securities recognizance in the sum of $1,000, to be of Exchange good behaviour for two years for engaging in an insider trading scheme that netted over $24,000. Formal investigation (an investigation 29/03/2011 Credit - Credit intermediaries Yan Li Fraud offences – involved the creation of false and misleading Permanently banned from engaging in credit 11-63AD ASIC bans Sydney finance broker in 11-63AD commenced pursuant to s13 ASIC Act or s247 income and employment details included in loan applications activities. first permanent ban under National Credit Act NCCP Act) submitted to Suncorp Bank. Formal investigation (an investigation 15/02/2012 Market participant & OTC issuers - All Lifestyle Investor Services Pty Ltd Failed to comply with a condition of its licence requiring it to Suspension of AFSL 12-25AD ASIC suspends AFS licence of ‘Aussie 12-25AD commenced pursuant to s13 ASIC Act or s247 notify ASIC within five days of Mr Scott Goold resigning as the Rob’s’ Lifestyle Investor Services NCCP Act) responsible manager of LIS, and of other details as to a replacement responsible manager. Failed to maintain the competence to provide financial services following Mr Goold’s resignation as responsible manager, with no person appointed to replace him in the role and with Mr Goold unable to adequately perform this role from overseas.

Formal investigation (an investigation 5/09/2012 Funds management - Other Tania Oakley Among other things, gained a financial advantage by using Sentenced to 2 years jail. 12-216MR Former Queensland director jailed 12-216MR commenced pursuant to s13 ASIC Act or s247 approximately $766,900 of investor funds to purchase a NCCP Act) house. Formal investigation (an investigation 7/06/2013 Market participant & OTC issuers - All Murray Priestley Mr Priestly made misleading statements to a client when he Banned from providing financial services for 13-134MR ASIC Bans Murray Priestley of the 13-134MR commenced pursuant to s13 ASIC Act or s247 guaranteed the client that the 'Aussie Rob Lifestyle Trader' three years Lifestyle Group NCCP Act) software was not based on moving averages, when in fact he did not know how the software worked. ASIC also found that Mr Priestley was personally involved in the development and marketing of a product named 'Elite Investor' and that he engaged in misleading or deceptive conduct,. ASIC also found that Mr Priestley authorised inadequate, conflicting and confusing information about Elite Investor to be given to potential investors.

Formal investigation (an investigation 17/10/2013 Market participant & OTC issuers - All Robert Wilson Misleading and deceptive conduct in the marketing of the Banned from providing financial services for 13-282MR ASIC bans businessman ‘Aussie 13-282MR commenced pursuant to s13 ASIC Act or s247 software. five years Rob’ NCCP Act) Formal investigation (an investigation 16/04/2012 Market participant & OTC issuers - All Lifestyle Investor Services Pty Ltd (see 11-161 ASIC accepts ‘Aussie Rob’ enforceable undertaking Application to wind up company AD12-71 Lifestyle Trader Pty Ltd wound up on AD12-71 commenced pursuant to s13 ASIC Act or s247 and 12-25AD ASIC suspends AFS licence of ‘Aussie Rob’s’ ASIC’s application NCCP Act) Lifestyle Investor Services). Formal investigation (an investigation 27/05/2015 Funds management - Responsible James Appadoo Mr Appadoo used his position as Team Leader to steal $1m Banned permanently from providing financial 15-130MR ASIC permanently bans convicted 15-130MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes from a LMA client's account, by falsely signing withdrawal slips services fraudster NCCP Act) and crediting his own bank accounts. Formal investigation (an investigation 1/11/2012 Funds management - Other Secured Collateral Pty Ltd, Diversified Carrying on an unlicensed financial services business, involving Interim court orders, preventing operators of 12-265MR ASIC obtains orders freezing bank 12-265MR commenced pursuant to s13 ASIC Act or s247 Collateral Pty Ltd, Intra Management Pty Ltd, cold calling and a website to induce investors to deposit funds unlicensed financial services business from accounts of Brisbane ‘cold callers’ NCCP Act) Keiron Michael Weertman, Dylan Robson and into a number of bank accounts. carrying on their activities and freezing Shane Rodney Hasell money held in three bank accounts. The orders also prohibit Messrs Weertman, Robson and Hasell from leaving Australia without the consent of the court. RCD.0015.0003.0252

Public Results & Reports

Formal investigation (an investigation 22/03/2013 Funds management - Other Global Capital Wealth Scammers, via their websites, promotional material and cold ASIC warns consumers about the activities of 13-061MR ASIC warns consumers about 13-061MR commenced pursuant to s13 ASIC Act or s247 calling, appear to be fraudulently using the Australian business a cold-calling investment scam using the Global Capital Wealth NCCP Act) number, Australian company number and Australian financial name ‘Global Capital Wealth’. services licence number of Global Capital Resources Pty Ltd, a licensed financial services business with no connections to Global Capital Wealth.

Formal investigation (an investigation 29/04/2013 Funds management - Other • Collateral Pty Ltd ASIC alleged Secured Collateral Pty Ltd, Diversified Collateral ASIC has successfully applied to the Supreme 13-089MR ASIC obtains Supreme Court 13-089MR commenced pursuant to s13 ASIC Act or s247 • Diversified Collateral Pty Ltd Pty Ltd, Intra Management Pty Ltd and their respective sole Court of Queensland for three companies to orders against unlicensed and fraudulent NCCP Act) • Intra Management Pty Ltd directors operated an unlicensed and fraudulent financial be wound up with liquidators appointed. Gold Coast based financial services business • Keiron Weertman services business that defrauded investors of approximately • Dylan Robson $1,000,000. • Shane Hasell Formal investigation (an investigation 20/06/2014 Funds management - Other Ronald Willams Selection One borrowed funds from investors for 4 years and 3 months imprisonment with a 14-137MR Directors of Queensland lending 14-137MR commenced pursuant to s13 ASIC Act or s247 approximately 12 months at an interest rate of 3% per month non-parole period of 16 months. business sentenced on dishonesty charges NCCP Act) or 36% per annum. The director misrepresented the proportion of money that would be on-lent. Selection One's poor financial performance meant it was only able to survive by raising new investors funds to pay the high rate of interest promised to its existing investors.

Formal investigation (an investigation 20/06/2014 Funds management - Other David Maile Selection One borrowed funds from investors for 4 years and 3 months imprisonment with a 14-137MR Directors of Queensland lending 14-137MR commenced pursuant to s13 ASIC Act or s247 approximately 12 months at an interest rate of 3% per month non-parole period of 16 months. business sentenced on dishonesty charges NCCP Act) or 36% per annum. The director misrepresented the proportion of money that would be on-lent. Selection One's poor financial performance meant it was only able to survive by raising new investors funds to pay the high rate of interest promised to its existing investors.

Formal investigation (an investigation 6/05/2013 Financial Advisers - Other James Pearson Engaged in conduct inconsistent with the orderly operation of Banned from providing financial services for 13-099MR ASIC bans Perth financial adviser 13-099MR commenced pursuant to s13 ASIC Act or s247 a financial market. In particular, Mr Pearson created a false or three years for three years NCCP Act) misleading appearance of active trading.

Formal Investigation (an investigation 25/01/2010 Funds management - Other Rolf Koops, Ms Sandra Martin Breaches of directors duties pursuant to sections 180 to 184 of Orders to surrend passports. 10-10AD Directors of LKM Capital Limited 10-10AD commenced pursuant to s13 ASIC Act or s247 the Corporations Act. ordered to surrender passports NCCP Act) Formal investigation (an investigation 23/11/2017 Insurance - Other Sport & Events Promotions Pty Ltd, Prize Carrying on a business of dealing in financial products in Supreme Courts orders stopping the selling of 17-402MRASIC takes action against 17-402MR commenced pursuant to s13 ASIC Act or s247 Promotions Pty Ltd, Anna Bennett Australia without holding the required Australian financial insurance products and providing financial unlicensed financial services companies NCCP Act) services (AFS) licence services without being licensed

Formal investigation (an investigation 9/08/2013 Funds management - Responsible LM First Mortgage Income Fund Confilct of interest - concerns that administrators were not Receiver appointed to wind up fund. 13-211MR Receiver appointed to LM fund 13-211MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes putting the interests of unitholders of the FMIF before their NCCP Act) own Formal investigation (an investigation 12/03/2014 Credit - ADI lending David St Pierre Mr Pierre engaged in fraudulent conduct when preparing loan Administrative action by ASIC - permanently 14-043MR ASIC bans former Westpac bank 14-043MR commenced pursuant to s13 ASIC Act or s247 applications and was found not to be a fit and proper person banned from engaging in credit activities and home finance manager in relation to false NCCP Act) to engage in credit activities and not of good fame or providing financial services. loan applications character, making him an unsuitable person to provide financial services. Formal investigation (an investigation 27/09/2013 Funds management - Responsible Peter Drake LM Investment Management went into administration in Travel restaint and asset Freezing orders and 13-266MR Court orders surrender of LM 13-266MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes March 2013, with the company responsible for managing at founders passport freezes assets NCCP Act) least $750 million on behalf of almost 12,000 investors in Australia and overseas Formal investigation (an investigation 23/12/2016 Funds management - Responsible LM Investment Management Ltd, Peter Drake, No breach of directors' duties. Keep 16-461MR Directors of LM Investment 16-461MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Francene Mulder, Eghard van der Hoven, Management not found to have breached NCCP Act) Simon Tickner, Lisa Darcy their director's duties Formal investigation (an investigation 16/08/2013 Financial Advisers - Other Bradley Lofts Permanently banned from providing financial services Keep 13-216MR ASIC permanently bans 13-216MR commenced pursuant to s13 ASIC Act or s247 Queensland financial adviser NCCP Act) Formal investigation (an investigation 22/03/2017 Financial Advisers - Other LOGAN, Daniel Permanently banned from providing financial services Keep 17-074MR ASIC permanently bans 17-074MR commenced pursuant to s13 ASIC Act or s247 Queensland former financial planner for NCCP Act) dishonesty Formal investigation (an investigation 17/11/2014 Market participant & OTC issuers - All Scott Logan Banned from providing financial services for seven years Keep 14-304MR ASIC bans Victorian adviser from 14-304MR commenced pursuant to s13 ASIC Act or s247 providing financial services NCCP Act) Formal investigation (an investigation 20/12/2017 Funds management - Other Realestate Equity Investment Trust, Timeline Orders to wind up scheme Keep 17-450MRASIC winds up Victorian land 17-450MR commenced pursuant to s13 ASIC Act or s247 Project Management Pty Ltd banking scheme NCCP Act) RCD.0015.0003.0253

Public Results & Reports

Formal investigation (an investigation 28/11/2012 Funds management - Other Swiss Private Capital Ltd Swiss Private purports to be a Dubai-based private investment ASIC has warned consumers about the 12-293MR ASIC warns consumers against 12-293MR commenced pursuant to s13 ASIC Act or s247 firm with branch offices in New York, Frankfurt, Geneva and activities of Swiss Private Capital Ltd. purported investment firm NCCP Act) Melbourne. Swiss Private’s website claims to be ‘now managing Australian Super’ and to have average returns of over 35% per year for the last 5 years. Swiss Private is not a company registered in Australia and does not hold an AFS licence. The Melbourne address for Swiss Private is a virtual office and ASIC investigations have revealed no representatives of Swiss Private occupy or attend this address.

Formal investigation (an investigation 10/07/2013 Insurance - Claims handling Travers Loy Permanently banned from providing financial services Keep 13-169MR ASIC permanently bans Victorian 13-169MR commenced pursuant to s13 ASIC Act or s247 insurance claims manager NCCP Act) Formal investigation (an investigation 9/02/2016 Credit - Credit intermediaries Craig Eric Lynch Disqualified from managing corporations for 4 years and also Keep 16-028MR ASIC disqualifies and bans Sydney 16-028MR commenced pursuant to s13 ASIC Act or s247 banned from engaging in credit activities for 4 years. property adviser NCCP Act) Formal investigation (an investigation 24/01/2013 Credit - Credit intermediaries Daniel Minh Tuan Nguyen Pleaded guilting and received a 2-year good behaviour bond Keep 13-008MR Former mortgage broker convicted 13-008MR commenced pursuant to s13 ASIC Act or s247 (Court took into consideration consideration Mr Nguyen’s NCCP Act) level of cooperation with ASIC’s investigation, his good character and history and his remorse). Formal investigation (an investigation 11/11/2013 Credit - Credit intermediaries Daniel Minh Tuan Nguyen Providing false information and documents to banks to secure Permanently banned from engaging in any 13-337MR ASIC permanently bans former 13-337MR commenced pursuant to s13 ASIC Act or s247 approvals for home loans totalling more than $3 million over a credit activities and providing financial mortgage broker NCCP Act) five-month period services Formal investigation (an investigation 23/03/2009 Market participant & OTC issuers - Richard Macphillamy Spreading false and misleading information about Macquarie Banned from providing any financial services AD09-48 ASIC bans broker for spreading AD09-48 commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Group Limited and the Macquarie Cash Management Trust for 18 months misleading information NCCP Act) Formal investigation (an investigation 17/12/2013 Market participant & OTC issuers - Macquarie Bank Limited Failure to comply with Rule 2.2.6(a) of the ASIC MIR, which Infringement notice issued - $175,000 13-343MR Macquarie Bank Limited pays 13-343MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks imposes a strict, mandatory obligation on Market Participants AUD175000 infringement notice penalty NCCP Act) to deposit and maintain Client monies in Client Accounts designated as, segregated Client Accounts.

Formal investigation (an investigation 17/03/2016 Market participant & OTC issuers - Macquarie Bank Limited Breaches of the client money provisions of the Corporations Imposition of additional conditions on an 16-068MR ASIC imposes additional licence 16-068MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Act Australian financial services licence conditions on Macquarie Bank NCCP Act) Formal investigation (an investigation 28/06/2016 Market participant & OTC issuers - Macquarie Securities (Australia) Limited Failure to comply with Rule 5.6.1(1) of the ASIC MIR, which Infringement notice issued - $120,000 16-204MR Macquarie Securities (Australia) 16-204MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks requires trading participants to have appropriate automated Limited pays $120,000 infringement notice NCCP Act) filters for their automated order processing (AOP) systems. penalty Failure to comply with Rule 5.9.1, which prohibits a Market Participant from doing anything which results in a market for an Equity Market Product not being fair and orderly.

Formal investigation (an investigation 23/06/2017 Market participant & OTC issuers - Macquarie Securities (Australia) Limited Failure to comply with Rule 5.7.1(b)(i) of the ASIC MIR, which Infringement notice issued - $505,000 17-198MRMacquarie Securities pays 17-198MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks is directed at protecting against market misconduct and $505,000 in infringement notice penalty NCCP Act) promoting the disclosure of important market-related information. Failure to comply with Rule 5.6.1, which requires a market participant to have appropriate automated filters in relation to the use of \automated order processing (AOP).

Formal investigation (an investigation 10/12/2015 Market participant & OTC issuers - Macquarie Securities (Australia) Limited Failing to prevent a non-Designated Trading Representative Infringement notice issued - $110,000 15-377MR Macquarie Securities (Australia) 15-377MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks from submitting Trading Messages though the non-automated Limited pays $110,000 infringement notice NCCP Act) order processing component of its automated order penalty processing system, into the ASX Trading Platform.

Formal investigation (an investigation 23/09/2016 Funds management - Other Sandeep Madhoji Misuse of clients' funds by applying some clients' funds to Imprisonment. 16-322MR ASIC bans Brisbane financial 16-322MR commenced pursuant to s13 ASIC Act or s247 cover the loss made on other client portfolios. Making false Permanently banned from providing advisor NCCP Act) statements. Acting outside authority by making multiple financial services or engaging in credit unauthorised transfers and withdrawals Falsying client activity account statements. RCD.0015.0003.0254

Public Results & Reports

Formal investigation (an investigation 6/05/2011 Financial Advisers - Other Ian Weaver Breached provisions of the Corporations Act 2001 (the ASIC has banned Mr Ian John Weaver of Clear 11-90AD ASIC bans Gold Coast financial 11-90AD commenced pursuant to s13 ASIC Act or s247 Corporations Act) by providing financial advice to certain Island Waters, Queensland, from providing adviser NCCP Act) clients between September 2004 and March 2007 without financial services for five years.

•having a reasonable basis for the advice,

•providing Statements of Advice that complied with the requirements under the Corporations Act, and

•disclosing relevant benefits (including commissions) to his clients.

Formal investigation (an investigation 17/03/2015 Financial Advisers - Other John Weaver Providing advice without a reasonable basis and for making a Convicted and sentenced to 12 months jail on 15-057MR Former Gold Coast financial 15-057MR commenced pursuant to s13 ASIC Act or s247 number of false or misleading statements. each of four criminal counts, conditionally adviser sentenced NCCP Act) released upon entering into a two year good behaviour bond. Formal investigation (an investigation 5/07/2012 Funds management - Other West Trade Group Pty Ltd, West Trade Cars Investment scam resulting in 37 investors losing Court orders preventing the company from 12-157MR ASIC obtains court orders against 12-157MR commenced pursuant to s13 ASIC Act or s247 Pty Ltd, West Two Pty Ltd, Tiffany Lea approximately $680,000. Also carrying on a financial services carrying on its activities. Gold Coast-based investment scam NCCP Act) O’Donnell, Russell John Lewis, John Steven business without holding an Australian financial services (AFS) Pitcher licence. Formal investigation (an investigation 11/09/2017 Market participant & OTC issuers - All Daniel Gerard Manley Conduct that was misleading or deceptive, or likely to mislead Banned from providing financial services for 17-307MRASIC bans former financial adviser 17-307MR commenced pursuant to s13 ASIC Act or s247 or deceive, resulting in unathorised trading. five years. for five years NCCP Act) Formal investigation (an investigation 20/05/2016 Financial Advisers - Other Marigold Falconer International Limited Failure to hold current professional indemnity insurance. Australian financial services licence 16-152MR ASIC suspends Marigold Falconer 16-152MR commenced pursuant to s13 ASIC Act or s247 Failure to lodged audited financial statements with ASIC for suspended. licence NCCP Act) the 2015 financial year.

Formal investigation (an investigation 17/08/2016 Financial Advisers - Other Marigold Falconer International Limited AFSL Unable to satisfy ASIC that it could obtain insurance cover for Australian financial services licence 16-259MR ASIC cancels Marigold Falconer 16-259MR commenced pursuant to s13 ASIC Act or s247 the services it was authorised to provide under the licence. cancelled. licence NCCP Act) Formal investigation (an investigation 16/11/2011 Market participant & OTC issuers - All Mark Power Financial Pty Ltd, Mark Power Failure to comply with obligations as a financial services Australian financial services licence 11-257AD ASIC cancels licences of Mark 11-257AD commenced pursuant to s13 ASIC Act or s247 licensee cancelled. Power Financial Pty Ltd and Mark Raymund NCCP Act) Power Formal investigation (an investigation 30/04/2014 Credit - Credit intermediaries Andrew McClure Creating and submitting false documents to support home Banned from engaging in credit activities for 14-092MR ASIC bans former Melbourne 14-092MR commenced pursuant to s13 ASIC Act or s247 loan applications. five years credit representative NCCP Act) Formal investigation (an investigation 3/07/2014 Financial Advisers - Other Tina McPhee 181 counts of theft and receiving, totalling approximately $1.9 Administrative action by ASIC - permanently 14-151MR ASIC permanently bans former 14-151MR commenced pursuant to s13 ASIC Act or s247 million, while she was trustee of investment money for six of banned from financial services and engaging South Australian financial adviser NCCP Act) her clients - brain injury compensation payments for two of in credit activities after being convicted, in a her victims and compensation payments for four children who separate action, on 181 counts of theft. lost their mother and sibling in a car accident.

Formal investigation (an investigation 14/09/2015 Funds management - Responsible Macro Realty Developments Pty Ltd The proposed investment was to involve investors being ASIC has obtained an urgent injunction in the 15-250MR ASIC restrains Macro Realty 15-250MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Property Tuition Pty Ltd appointed as directors and shareholders of a company and Federal Court of Australia against Macro Developments Pty Ltd and Jamie McIntyre's NCCP Act) Education Holdings Pty Ltd creating a trust, whereby those companies would purchase Realty Developments Pty Ltd, Property 21st Century Property and 21st Century property and the investors paid a director's fee. Tuition Pty Ltd and Education Holdings Pty Education from promoting Pilbara property ASIC alleges that by agreeing to become a director of a Ltd. investment company where Macro will remain the sole decision maker for all business associated with the company, 21st Century and Macro are counselling and procuring investors to contravene their director's duties under the Corporations Act.

Formal investigation (an investigation 7/12/2015 Funds management - Responsible Midland Hwy Pty Ltd ASIC sought the wind-up orders as it considered it in the public Federal Court proceeding. 15-368MR Failed land banking company 15-368MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes interest for a proper investigation into the affairs of Midland Winding up orders. Midland Hwy to be wound up following ASIC NCCP Act) Hwy to be conducted by independent liquidators (refer 15- action 338MR). ASIC’s proceedings are part of ASIC's wider and ongoing investigation into land banking schemes (refer 15-214MR). RCD.0015.0003.0255

Public Results & Reports

Formal investigation (an investigation 17/03/2016 Funds management - Responsible Jamie Neville McIntyre, Dennis McIntyre Schemes are unregistered managed investment schemes and Appointed joint liquidators to the corporate 16-077MR Liquidators appointed to 21st 16-077MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes companies and directors have been unlawfully carrying on an respondents to ASIC’s proceeding that Century land banking companies associated NCCP Act) unlicensed financial services business. commenced in August 2015 (refer 15- with Jamie McIntyre 214MR). The Federal Court also granted ASIC leave to seek orders at the final hearing of the matter that •Jamie McIntyre be declared a shadow director of each of the corporate respondents; and •Jamie and Dennis McIntyre be disqualified from managing corporations.

Formal investigation (an investigation 20/10/2016 Funds management - Responsible Dennis McIntyre Unregistered managed investment schemes Orders that Jamie and Dennis McIntyre be 16-357MR Federal Court declares 21st 16-357MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes disqualified from managing corporations and Century land banking schemes to be unlawful NCCP Act) restrained from carrying on financial services and bans Jamie and Dennis McIntyre for 10 for a period of 10 years each, due to them years being officers of companies that had failed, by virtue of them being wound up, and which had also repeatedly contravened the Corporations Act .

Formal investigation (an investigation 20/10/2016 Funds management - Responsible Jamie McIntyre Unregistered managed investment schemes Orders that Jamie and Dennis McIntyre be 16-357MR Federal Court declares 21st 16-357MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes disqualified from managing corporations and Century land banking schemes to be unlawful NCCP Act) restrained from carrying on financial services and bans Jamie and Dennis McIntyre for 10 for a period of 10 years each, due to them years being officers of companies that had failed, by virtue of them being wound up, and which had also repeatedly contravened the Corporations Act .

Formal investigation (an investigation 6/01/2014 Funds management - Superannuation Media Super Limited Misleading advertising. Infringement notice. $10,200 penalty. 14-001MR Media Super pays infringement 14-001MR commenced pursuant to s13 ASIC Act or s247 Inaccurately represented the costs and benefits of the Media notice in relation to superannuation NCCP Act) Super funds compared to self-managed super funds. advertising

Formal investigation (an investigation 17/11/2017 Market participant & OTC issuers - All One Tech Media Limited, Ultra Solutions MG One Tech Media Limited (OTML) (based in the Seychelles and ASIC has sought final orders in ongoing 17-391MRASIC takes further action in Allianz 17-391MR commenced pursuant to s13 ASIC Act or s247 (UK) Ltd later in the Marshall Islands) and Ultra Solutions MG (UK) Ltd Federal Court proceedings Metro binary option trading investigation NCCP Act) (USMG) (based in the United Kingdom), offered binary options trading on the Websites to customers in Australia at various times during 2016 without holding an Australian financial services licence.

Engaged in misleading and deceptive conduct.

Engaged in unconscionable conduct Formal investigation (an investigation 20/10/2016 Credit - Credit intermediaries Bernard Meehan Creating and submitting false or misleading documents to Permanently banned from engaging in credit 16-358MR ASIC permanently bans Aussie 16-358MR commenced pursuant to s13 ASIC Act or s247 support loan applications. activities. Home Loans mortgage broker NCCP Act) Formal investigation (an investigation 30/08/2010 Market participant & OTC issuers - All Mega International Commercial Bank Co. Ltd Inadequate compliance procedures and supervision and Independent review of monitoring and 10-182AD Mega ICBC undertakes compliance 10-182AD commenced pursuant to s13 ASIC Act or s247 monitoring arrangements. compliance arrangemenets. review at ASIC'S request NCCP Act) Formal investigation (an investigation 22/01/2013 Financial Advisers - Insurance advice Paul Meier Creating and submitting false or misleading documents to Enforceable undertaking to permanently 13-006MR ASIC accepts permanent 13-006MR commenced pursuant to s13 ASIC Act or s247 support loan applications. refrain from providing financial services or undertaking from former Adelaide insurance NCCP Act) engaging in any credit activity. broker Formal investigation (an investigation 12/09/2017 Market participant & OTC issuers - Merrill Lynch (Australia) Futures Limited Inappropriate limits to varying degrees in respect of number Infringement notice issued - $60,000 17-311MRMerrill Lynch (Australia) Futures 17-311MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks of pathways to the ASX 24 Market. The limits were considered pays $60,000 in infringement notice penalty NCCP Act) to be inappropriate because they were set at ASX 24 Market default levels. For some of the pathways, the inappropriate default limits were et at both the downstream terminals level and at the upstream order system level. RCD.0015.0003.0256

Public Results & Reports

Formal investigation (an investigation 4/12/2017 Market participant & OTC issuers - Merrill Lynch Equities (Australia) Limited •executed orders contrary to wholesale clients' instructions to Infringement notice issued - $140,000 17-416MRMerrill Lynch Equities (Australia) 17-416MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks opt out of the 'best execution' rule; Ltd pays $140,000 in infringement notice NCCP Act) •failed to conduct adequate periodic reviews to ensure that it penalty could comply with those instructions; •failed to permit wholesale clients to opt out of its crossing systems by allowing trades to be executed on its crossing system; and •entered into transactions on behalf of clients without instructions to do so.

Formal investigation (an investigation 19/12/2014 Market participant & OTC issuers - All Monarch FX Group Pty Ltd Unlicensed and unauthorised conduct (foreign exchange Court Proceeding. 14-342MR ASIC action restrains FX business 14-342MR commenced pursuant to s13 ASIC Act or s247 trading through SMSF) Restrained from carrying on, either directly or and sole director from carrying on a financial NCCP Act) indirectly, a financial services business for services business four years. Formal investigation (an investigation 19/12/2014 Market participant & OTC issuers - All Quinten Hunter Unlicensed and unauthorised conduct (foreign exchange Court Proceeding. 14-342MR ASIC action restrains FX business 14-342MR commenced pursuant to s13 ASIC Act or s247 trading through SMSF) Restrained from carrying on, either directly or and sole director from carrying on a financial NCCP Act) indirectly, a financial services business for services business four years. Formal investigation (an investigation 12/08/2009 Financial Advisers - Other Nancy Karin Keep Misleading or deceptive conduct. Falsewly witnessing Banned from providing financial services for 09-144AD Victorian agribusiness adviser 09-144AD commenced pursuant to s13 ASIC Act or s247 applications for loan documentation in forestry products and five years banned for five years NCCP Act) powers of attorney. Formal investigation (an investigation 15/05/2013 Credit - Credit intermediaries Money Choice Pty Ltd Unlicensed lending. Credit licence cancelled. 13-106MR ASIC cancels Money Choices 13-106MR commenced pursuant to s13 ASIC Act or s247 Organising loans from an unlicensed developer licence and bans its director Matthew George NCCP Act) Giving misleading information to lenders Failing to meet responsible lending conduct obligations, including failing to verify investor’s financial situation Failing to have adequate arrangements in place to ensure clients were not disadvantaged by conflicts of interests that arose regarding commission payments. Formal investigation (an investigation 20/06/2014 Financial Advisers - Other Roy Whye Wah Moo Dealing with money which was the proceeds of crime. Permanently banned from providing financial 14-134MR ASIC permanently bans former 14-134MR commenced pursuant to s13 ASIC Act or s247 services and engaging in credit activity financial services and credit representative NCCP Act) Formal investigation (an investigation 7/09/2016 Market participant & OTC issuers - Morgan Stanley Australia Securities Limited Contravened subsection 798H(1) of the Corporations Act by Infringement notice issued - $123,750 16-297MR Morgan Stanley pays $123,750 in 16-297MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks reason of contravening a number of account reconciliation infringement notice penalty NCCP Act) rules in Part 2.3 of the ASIC Market Integrity Rules (ASX 24 Market) 2011 in relation to client monies.

Formal investigation (an investigation 18/12/2013 Financial Advisers - Other Braddon Investment and Finance Pty Ltd Debenture firm failed to enter into a trust deed, and appoint a Supreme Court wound up the company 13-352MR Court winds up Tasmanian 13-352MR commenced pursuant to s13 ASIC Act or s247 trustee before issuing debentures to the public. following an application by ASIC and made debenture firm NCCP Act) declarations of contravention. Formal investigation (an investigation 4/12/2017 Insurance - Other Tracey Burnell Ms Burnell's conduct went beyond that of a mere referrer of Permanent banning from providing financial 17-417MRASIC permanently bans Victorian 17-417MR commenced pursuant to s13 ASIC Act or s247 insurance contracts in that she services insurance product referrer NCCP Act) •issued invoices to clients for insurance premiums on LP&C stationery letterhead (and in some cases inflated the amount of the premium required to be paid by the client); and •accepted payments from clients in relation to those insurance premiums into a LP&C bank account; and •on occasions, failed to pass on those payments of insurance premiums to the insurance brokers, with whom referral agreements were in place.

Formal investigation (an investigation 11/08/2016 Financial Advisers - Other Christopher Moylan Liquidator appointed. Companies wound up with estimated Disqualified from managing corporations for 16-253MR Company director disqualified 16-253MR commenced pursuant to s13 ASIC Act or s247 unfunded liabilities of $10m. four years. from managing corporations NCCP Act) Formal investigation (an investigation 29/04/2009 Funds management - Other Dollarforce Financial Services Pty Ltd Concerns that, amongst other things Federal Court orders for the winding up of a 09-72AD Federal Court orders Dollarforce 09-72AD commenced pursuant to s13 ASIC Act or s247 •investors may have been misled regarding an investment number of companies within the Dollarforce wind up NCCP Act) promoted by BSD; Group. •the location of funds raised by BSD; •the books and records of APL may not accurately reflect the funds raised by APL; and •investors in APL were not informed that $3 million of ‘incentive payments’ were to be made to a company of which Mr Weerappah was a director. RCD.0015.0003.0257

Public Results & Reports

Formal investigation (an investigation 13/05/2009 Funds management - Other Clestus Weerappah and Ms Andrea Hawkins Concerns that, amongst other things Federal Court orders for the winding up of 09-84AD Federal Court orders Dollarforce 09-84AD commenced pursuant to s13 ASIC Act or s247 •investors may have been misled regarding an investment the two remaining companies to the action wind up NCCP Act) promoted by BSD; and injunctions extended against Mr Clestus •the location of funds raised by BSD; Weerappah and Ms Andrea Hawkins •the books and records of APL may not accurately reflect the funds raised by APL; and •investors in APL were not informed that $3 million of ‘incentive payments’ were to be made to a company of which Mr Weerappah was a director.

Formal investigation (an investigation 18/11/2015 Funds management - Other 1. Oceanic Asset Management Pty Ltd CHECK THIS Liquidators appointed 15-341MR Liquidator appointed to Oceanic 15-341MR commenced pursuant to s13 ASIC Act or s247 2. Oceanic Equities Pty Ltd Asset Management and associated entities NCCP Act) 3. Australian Global Capital Pty Ltd 4. Mulato Management Services Pty Ltd 5. Mulato Nominees Pty Ltd 6. Ridgeway House Pty Ltd Formal investigation (an investigation 4/02/2016 Funds management - Other Roger Munro, Kathleen Munro Carrying on a financial services business without holding an Injunctions aimed at restricting from 16-023MR Supreme Court permanently 16-023MR commenced pursuant to s13 ASIC Act or s247 AFS licence continuing to carry on a financial services restrains Roger Munro from operating NCCP Act) business in Australia. without an Australian financial services licence Formal investigation (an investigation 24/08/2016 Financial Advisers - Compliance & My Adviser Pty Ltd Poor and unauthorised advice provided to clients. Enforceable undertaking to 16-267MR ASIC accepts enforceable 16-267MR commenced pursuant to s13 ASIC Act or s247 supervision Failure to adequately supervisise and monitor representatives. • repay clients undertaking from My Adviser Pty Ltd NCCP Act) • engage an independent expert to review and report on compliance with sections 961B and 961G of the Corporations Act; and • prepare a remedial action plan to deal with the recommendations of the expert report.

Formal investigation (an investigation 7/11/2013 Credit - Credit intermediaries Tony Quach, TQ Smartchoice Pty Ltd Providing false or misleading information to lenders in relation Permanently banned from engaging in credit 13-305MR ASIC bans Melbourne mortgage 13-305MR commenced pursuant to s13 ASIC Act or s247 to home-loan applications. activities. broker NCCP Act) Formal investigation (an investigation 16/02/2009 Funds management - Other Dollarforce Financial Services Pty Ltd Concerns that, amongst other things Assets of companies frozen by the Federal AD09-18 ASIC obtains injunctions in AD09-18 commenced pursuant to s13 ASIC Act or s247 •investors may have been misled regarding an investment Court of Australia. Dollarforce investigation NCCP Act) promoted by BSD; •the location of funds raised by BSD; Judge also order that Mr Weerappah and Ms •the books and records of APL may not accurately reflect the Hawkins be restrained from applying for the funds raised by APL; and issue of any passport and be restrained from •investors in APL were not informed that $3 million of departing Australia or attempting to depart ‘incentive payments’ were to be made to a company of which the country. Mr Weerappah was a director.

Formal investigation (an investigation 16/12/2015 Credit - Credit intermediaries Aizaz Hassan Use of false documents in support of loan applications Convicted of conspiracy to defraud. -- commenced pursuant to s13 ASIC Act or s247 Sentenced to 5 year Community Corrections NCCP Act) Orders, with special conditions including to undertake 400 hours of community service.

Formal investigation (an investigation 16/12/2015 Credit - Credit intermediaries Mohamed Ahmed Use of false documents in support of loan applications Convicted of conspiracy to defraud. -- commenced pursuant to s13 ASIC Act or s247 Sentenced to 5 year Community Corrections NCCP Act) Orders, with special conditions including to undertake 400 hours of community service.

Formal investigation (an investigation 9/10/2017 Credit - Credit intermediaries Najam Shah Use of false documents in support of loan applications Convicted of conspiracy to defraud. 17-337MRMelbourne man sentenced to 5 17-337MR commenced pursuant to s13 ASIC Act or s247 Sentenced to 5 years' jail. years jail for role in hundred-million dollar NCCP Act) home loan fraud conspiracy Formal investigation (an investigation 1/10/2014 Deposit takers - Deposit products National Austrlia Bank Potentially misleading statements in a product disclosure Infringement notice. $10,200 penalty. 14-257MR NAB pays $10,200 penalty for 14-257MR commenced pursuant to s13 ASIC Act or s247 statement for the NAB Annuity Term Deposit. misleading statements in PDS NCCP Act) Formal investigation (an investigation 6/09/2016 Credit - Credit intermediaries Madhvan Nair Submission of false or misleading information to banks in Convicted and released upon entering into a 16-293MR Former Aussie mortgage broker 16-293MR commenced pursuant to s13 ASIC Act or s247 support of loan applications. recognizance in the amount of $1,000 on the convicted of submitting false or misleading NCCP Act) condition that he be of good behaviour for documents three years. Formal investigation (an investigation 27/01/2017 Credit - Credit intermediaries Madhvan Nair Submission of false or misleading information to banks in Permanently banned from providing financial 17-016MR Former Aussie Home Loans 17-016MR commenced pursuant to s13 ASIC Act or s247 support of loan applications. services and engaging in credit activity mortgage broker permanently banned by NCCP Act) ASIC RCD.0015.0003.0258

Public Results & Reports

Formal investigation (an investigation 21/12/2011 Funds management - Other GOLDSMITH AND ASSOCIATES PTY LTD This action is part of ASIC’s focus on targeting online financial Investor funds with a Victorian based 11-313AD ASIC takes urgent action to 11-313AD commenced pursuant to s13 ASIC Act or s247 services scams and educating consumers about the company operating an unlicensed financial preserve investor funds promoted on NCCP Act) importance of remaining vigilant when investing money - services business have been preserved goldsmithandassociates.com website particularly after receiving cold calls. following Federal Court orders obtained by ASIC. Formal investigation (an investigation 31/07/2012 Funds management - Other GOLDSMITH AND ASSOCIATES PTY LTD Online cold-calling scam. Goldsmith promoted investments in Investors to receive over $80,000 pursuant to 12-181MR ASIC obtains compensation for 12-181MR commenced pursuant to s13 ASIC Act or s247 financial products by cold calling investors around Australia court orders. The orders also prevent investors in cold-calling scam NCCP Act) who in turn were directed to false financial product Goldsmith from carrying on a financial information contained on a website services business for 10 years, and require goldsmithandassociates.com. the removal of all promotional material on any Goldsmith website. The company must also disconnect all company phone numbers used to promote the scam.

Formal investigation (an investigation 24/03/2016 Funds management - Other David Llewelyn Hicks Obtaining financial advantage by deception. In particular, Mr Permanently banned from providing any 16-093MR ASIC permanently bans Victorian 16-093MR commenced pursuant to s13 ASIC Act or s247 Hicks established a purported investment scheme, when he financial services and engaging in any credit man from financial services and credit NCCP Act) was not licensed to operate a financial services business, and activities. Sentenced to six years jail and activities made false representations about the use of investor funds, ordered to serve at least four years before resulting in losses being eligible for parole.

Formal investigation (an investigation 12/02/2013 Financial Advisers - Compliance & Gabriel Nakhl Concerned that investors’ money may not have been used Court Proceeding. 13-023MR ASIC obtains court orders against 13-023MR commenced pursuant to s13 ASIC Act or s247 supervision solely for the purposes represented to investors, but may have Restrained from disposing of, dealing with or Sydney financial adviser NCCP Act) beeb used for other purposes. otherwise diminishing certain assets, except in limited circumstances. Formal investigation (an investigation 18/11/2013 Financial Advisers - Compliance & Gabriel Nakhl Companies promoting alternative investments in Australia and Administrative action by ASIC - director 13-313MR Sydney adviser removed from 13-313MR commenced pursuant to s13 ASIC Act or s247 supervision their director were not holders of Australian financial services banned from providing financial services for 4 financial services NCCP Act) licences or authorised representatives of a licensee. years.

Formal investigation (an investigation 5/08/2010 Funds management - Other Moorhouse Shopping Centre Project, Cass Bay ASIC’s action follows the launch of an investigation into a Moved to appoint receivers to an additional 10-170AD Receivers appointed to 10-170AD commenced pursuant to s13 ASIC Act or s247 Spur Project, Mount Hutt Project, Tomasetti number of unregistered schemes and aims to protect the five unregistered property ventures unregistered property schemes following NCCP Act) Houser Joint Project, Aurora Park Project interests of more than 1000 individuals who invested about associated with Melbourne company ASIC action $80 million. director, Mr Mark Ronald Letten.

The court found that three of the schemes were not registered, contrary to requirements under the Corporations Act, and subsequently ordered they be wound-up and a receiver and manager appointed. Formal investigation (an investigation 26/02/2010 Funds management - Other Mark Letten ASIC alleged that Mr Letten promoted and sold investments in The Federal Court in Victoria made 10-35AD Federal court declarations regarding 10-35AD commenced pursuant to s13 ASIC Act or s247 commercial property joint venture projects that should have declarations that 11 joint venture property joint venture property projects NCCP Act) been registered as managed investment schemes under the projects associated with Melbourne based Corporations Act (the Act). ASIC believes that more than 1000 company director Mr Mark Ronald Letten investors placed more than $80 million in the projects. were unregistered managed investment schemes. ASIC is also seeking final declarations that Mr Letten carried on a financial services business without holding an Australian financial services licence and that he operated each managed investment scheme in circumstances where the schemes should have been registered under the Act.

ASIC has also applied for orders that Mr Letten be permanently restrained from operating a financial services business and from promoting or operating managed investment schemes.

Formal investigation (an investigation 14/08/2014 Funds management - Other Mark Letten A former director of LGH Holdings Ltd (in liquidation) and the Sentenced in the Melbourne County Court to 14-200MR South Yarra accountant jailed for 14-200MR commenced pursuant to s13 ASIC Act or s247 principal of the accounting firm admitted to dishonestly using five years and eight months imprisonment on operating illegal investment schemes NCCP Act) his position as a director involving the use of investor funds charges brought by ASIC, after pleading guilty more than $533,000 and of carrying on a financial services to 27 charges under the Corporations Act, business without an AFS licence. including operating 21 unregistered managed investment schemes relating to property development.

Formal investigation (an investigation 28/09/2016 Financial Advisers - Compliance & Gabriel Nakhl Knowingly engaging in dishonest conduct in relation to twelve Charged with engaging in dishonest conduct. 16-327MR Former financial adviser charged 16-327MR commenced pursuant to s13 ASIC Act or s247 supervision investors. over fraud NCCP Act) RCD.0015.0003.0259

Public Results & Reports

Formal investigation (an investigation 8/11/2016 Financial Advisers - Compliance & Gabriel Nakhl Unauthorised financial product advice Enforceable undertaking to not to manage a 13-313MRSydney adviser removed from 13-313MR commenced pursuant to s13 ASIC Act or s247 supervision Financial product advice given without a reasonable basis company for 15 years and permanently not financial services NCCP Act) False and misleading statements and engaged in misleading provide financial services. and deceptive conduct, regarding risks and returns Failure to carry out duties as a director with necessary care and diligence Improperly using position as a director to gain an advantage

Formal investigation (an investigation 20/05/2014 Funds management - Other Jeremy Nambiar Creation of a series of fictitious trading entries and a false Banned from providing financial services for 14-107MR ASIC bans former Sydney trader 14-107MR commenced pursuant to s13 ASIC Act or s247 document, to conceal losses of $1 million. eight years. NCCP Act) Formal investigation (an investigation 4/04/2017 Financial Advisers - Other Adrian Chenh, Billal El-Helou Breach of the best interests duty introduced under the Future Billal and Chenh both banned from providing 17-101MR ASIC bans two Melbourne men for 17-101MR commenced pursuant to s13 ASIC Act or s247 of Financial Advice reforms. financial services for a period of five years breaches of best interests duty NCCP Act) Formal investigation (an investigation 24/03/2016 Funds management - Other MACRO REALTY DEVELOPMENTS PTY LTD Misleading and deceptive conduct relating to promoting and Permanent injunction to restrain the 16-092MR ASIC obtains permanent injunction 16-092MR commenced pursuant to s13 ASIC Act or s247 PROPERTY TUITION PTY LTD EDUCATION marketing an investment proposal. marketing and promotion of property against Macro Realty Development and other NCCP Act) HOLDINGS PTY LTD investment. orders against companies associated with Jamie McIntyre

Formal investigation (an investigation 15/04/2016 Funds management - Responsible Bilkurra Investments Pty Ltd, Foscari Holdings ASIC is concerned that the development companies are Federal Court proceeding. 16-114MR Court appoints liquidators to 16-114MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Pty Ltd insolvent and that it is also just and equitable that the Winding up orders. companies operating land banking schemes NCCP Act) companies are wound up. ASIC's investigations suggest that Liquidators appointed. investors may have invested in the land banking schemes on the basis of misleading representations and that option agreements entered into by investors in Hermitage and Foscari purportedly allow for monies invested in the schemes to be used for any purpose whatsoever, and need not be used to progress the two land banking schemes. ASIC is also concerned that Hermitage and Foscari are not close to completion and appear to be incapable of completion due to the financial position of the development companies.

Formal investigation (an investigation 30/10/2017 Financial Advisers - Insurance advice NSG Services Pty Ltd (currently named Golden Breachs of the best interests duty introduced under the Future Federal Court proceeding. 17-365MRFinancial advice firm to pay $1 17-365MR commenced pursuant to s13 ASIC Act or s247 Financial Group Pty Ltd) of Financial Advice reforms. Civil penalty of $1 million. million penalty for breach of best interests NCCP Act) duty Formal investigation (an investigation 26/10/2017 Credit - Other Ermelia Suzanne Snoeks Failure to disclose a past criminal conviction in an application Permanently banned from engaging in credit 17-357MRASIC permanently bans Victorian 17-357MR commenced pursuant to s13 ASIC Act or s247 for an Australian credit licence activities and from providing financial mortgage broker NCCP Act) Lodging a false document in support of her being a fit and services. proper person False correspondence misrepresenting the fate of monies and in respect of her purportedly being legally represented Failure to disclose cessation of membership of an external dispute resolution scheme.

Formal investigation (an investigation 14/03/2011 Funds management - Other Empower Invest Pty Ltd, Newcastle Palais Promoted and operated an unregistered managed investment The Supreme Court of New South Wales has 11-48 AD ASIC obtains orders to wind up 11-48AD commenced pursuant to s13 ASIC Act or s247 Holdings Pty Ltd scheme. appointed liquidators to two companies. companies linked to Newcastle development NCCP Act) scheme Formal investigation (an investigation 24/11/2015 Credit - Credit intermediaries Tony Nguyen Submission of false or misleading information to banks in Permanently banned from the credit 15-352MR ASIC permanently bans former 15-352MR commenced pursuant to s13 ASIC Act or s247 support of loan applications. industry. NSW credit representative NCCP Act) Formal investigation (an investigation 5/06/2017 Market participant & OTC issuers - All Sean Nofal Substandard conduct by a financial services provider. Banned from providing financial services for 17-169MR ASIC bans former responsible 17-169MR commenced pursuant to s13 ASIC Act or s247 Inadequate judgment or skill; insufficient competence three years. executive from providing financial services for NCCP Act) required for roles in the financial services industry. three years Conduct potentially in contravention of, and likely to in the future contravene a financial services law. Formal investigation (an investigation 28/10/2015 Credit - Credit intermediaries John Cilmi, Northern Securities (Victoria) Pty Submission of false or misleading information to banks in Climi permanently banned from engaging in 15-316MR ASIC bans Melbourne mortgage 15-316MR commenced pursuant to s13 ASIC Act or s247 Ltd support of loan applications. credit activities. broker NCCP Act) Nothern Securities (Victoria) Ptd Ltd's Australian Credit Licence cancelled.

Formal investigation (an investigation 28/02/2012 Credit - Credit intermediaries Nova Home Loans Pty Limited Failure to obtain membership of an approved external dispute Australian credit licence cancelled. 12-33AD ASIC cancels credit licence of Sydney 12-33AD commenced pursuant to s13 ASIC Act or s247 resolution scheme. finance broker NCCP Act) RCD.0015.0003.0260

Public Results & Reports

Formal investigation (an investigation 6/02/2014 Financial Advisers - SMSF advice Lending Solutions International Pty Ltd Possible noncompliance by a group which operated as a 'one Federal Court proceeding. 14-024MR Court freezes assets and restrains 14-024MR commenced pursuant to s13 ASIC Act or s247 Nova Real Estate Pty Ltd stop shop', providing advice to clients on the establishment of Assets owned or otherwise held by group of travel following collapse of the Charterhill NCCP Act) EJ Property Developments Pty Ltd SMSFs, rollover of existing superannuation funds into an SMSF companies and founders frozen. group Financial Wellness Pty Ltd George Nowak Betty Nowak Formal investigation (an investigation 30/11/2015 Financial Advisers - SMSF advice Park Trent Properties Group Pty Ltd Park Trent carried on an unlicensed financial services business Supreme Court of NSW made orders against 15-358MR ASIC obtains final orders against 15-358MR commenced pursuant to s13 ASIC Act or s247 for over 5 years by providing advice to clients to purchase Park Trent, including declarations of Park Trent NCCP Act) investment properties through a self-managed super fund. unlawfully carrying on an unlicensed financial services business and a permanent injunction restraining them from such conduct.

Formal investigation (an investigation 28/07/2016 Financial Advisers - SMSF advice Ronald Cross Park Trent unlawfully carried on an unlicensed financial The Court permanently restrained Park Trent 16-240MR ASIC bans director and CEO of Park 16-240MR commenced pursuant to s13 ASIC Act or s247 services business for over five years by advising clients to from providing unlicensed financial product Trent Properties Group NCCP Act) purchase investment properties through a self-managed super advice to clients regarding SMSFs. ASIC fund. CEO and director was knowingly involved in banned CEO and director from providing contraventions. financial services for a period of four years.

Formal investigation (an investigation 13/09/2016 Financial Advisers - Other Barry Patrick Mr Patrick pleaded guilty to Sentenced to 6 years and 3 months 16-306MR Sunbury man sentenced to 6 years 16-306MR commenced pursuant to s13 ASIC Act or s247 •3 charges of obtaining property by deception, imprisonment. and 3 months imprisonment for fraud NCCP Act) •2 charges of obtaining a financial advantage by deception, and •1 charge of carrying on a financial services business without a license.

Formal investigation (an investigation 10/03/2015 Financial Advisers - SMSF advice George Nowak Possible noncompliance by a group which operated as a 'one Banned from providing financial services until 15-048MR Charterhill director George Nowak, 15-048MR commenced pursuant to s13 ASIC Act or s247 stop shop', providing advice to clients on the establishment of 3 July 2017. banned from providing financial services NCCP Act) SMSFs, rollover of existing superannuation funds into an SMSF

Formal investigation (an investigation 17/07/2012 Financial Advisers - Compliance & Colin Oberg Unauthorised use of client funds. Permanently banned from providing financial - 12-164MR commenced pursuant to s13 ASIC Act or s247 supervision services. Suppressed NCCP Act) Formal investigation (an investigation 16/02/2015 Market participant & OTC issuers - All Enfinium Pty Ltd ACN 129 298 442 (in ASIC was concerned Enfinium failed to have adequate risk Cancelled AFS licence. 15-026MR ASIC cancels licence of margin 15-026MR commenced pursuant to s13 ASIC Act or s247 liquidation) management systems, in particular, controls on its Meta foreign exchange provider NCCP Act) Trader 4 trading platform and a plug in device known as the 'Virtual Dealer.' Formal investigation (an investigation 3/11/2015 Market participant & OTC issuers - All O.C.M Online Capital Markets Pty Ltd False or misleading online advertising. Infringement notices. $30,600 penalty. 15-321MR OCM pays $30,600 penalty for 15-321MR commenced pursuant to s13 ASIC Act or s247 Foreign exchange trading platform. misleading advertising NCCP Act) Formal investigation (an investigation 28/09/2017 Market participant & OTC issuers - All Openmarkets Australia Limited Breached the market integrity rules in relation to both the ASX Infringement notice issued - $200,000 17-327MR OpenMarkets Australia pays 17-327MR commenced pursuant to s13 ASIC Act or s247 Market and Chi-X Australia Market that require market $200,000 infringement notice penalty NCCP Act) participants to have appropriate filters in place for use of their automated order processing (AOP) system.

Formal investigation (an investigation 9/05/2014 Market participant & OTC issuers - Lukas Kamay, Chis Hill Insider trading. Jail terms of 7 years and 3 months, and 3 15-058MR Two men sentenced in Australia’s 15-058MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks years and 3 months respectively. largest insider trading case NCCP Act) Lukas Kamay also permanently banned from financial services Formal investigation (an investigation 4/04/2008 Funds management - Other Lirim Emini,Anthony Blumberg. Julian Smith Trading irregularities (within Opes Prime) Federal Court proceeding. 08-66 Opes Prime 08-66 commenced pursuant to s13 ASIC Act or s247 Three directors of Opes Prime Stockbroking NCCP Act) Limited prevented from leaving Australia.

Formal investigation (an investigation 27/07/2011 Funds management - Other Lirim (Laurie) Emini Dishonestly using position as a director and recklessly using 2 imprisonment (to serve 12 months before 11-150MR Opes Prime directors jailed 11-150MR commenced pursuant to s13 ASIC Act or s247 position as a director to secure bank finance. being released on a recognisance release NCCP Act) order) Formal investigation (an investigation 27/07/2011 Funds management - Other Anthony Blumberg Dishonestly using position as a director and recklessly using 1 year imprisonment ( to serve six months 11-150MR Opes Prime directors jailed 11-150MR commenced pursuant to s13 ASIC Act or s247 position as a director to secure bank finance. before being released on a recognisance NCCP Act) release orde) Formal investigation (an investigation 6/09/2013 Funds management - Other Julian Smith Dishonestly breaching duties as director Not guilty. 13-251MR Verdict in Opes Prime director trial 13-251MR commenced pursuant to s13 ASIC Act or s247 NCCP Act) RCD.0015.0003.0261

Public Results & Reports

Formal investigation (an investigation 6/03/2009 Credit - Other Australia And New Zealand Banking Group Administration of Opes Prime Stockbroking Settlement offer for credior and court MR09-37 Opes Prime proposed settlement MR09-37 commenced pursuant to s13 ASIC Act or s247 Limited approval. and ANZ enforceable undertaking NCCP Act) Opes Prime Group Ltd. Leveraged Capital Pty. Ltd. Hawkswood Investments Pty Ltd Blumberg Anthony Charles Emini Lirim Smith Julian Formal investigation (an investigation 4/08/2009 Credit - Credit intermediaries Opes Prime Stockbroking Ltd Administration of Opes Prime Stockbroking Court and credit approval of settlement offer. AD 09-135 Opes prime schemes of AD 09-135 commenced pursuant to s13 ASIC Act or s247 Dividend of 37c in the dollar to creditors, arrangement approved NCCP Act) including investors. Formal investigation (an investigation 17/07/2012 Credit - Credit intermediaries Almaza Boutros Serious fraud offences Permanently banned from engaging in credit 12-163MR ASIC permanently bans Sydney 12-163MR commenced pursuant to s13 ASIC Act or s247 activities. woman from credit activities NCCP Act) Australian credit licence cancelled. Formal investigation (an investigation 21/12/2017 Financial Advisers - Insurance advice Christopher John Cannon, Danny Charles Failure to meet the standards required of a financial adviser. Both Cannon and Pianta agreed for the 17-454MRASIC accepts enforceable 17-454MR commenced pursuant to s13 ASIC Act or s247 Pianta Failure to comply with financial services laws. advice they provide to be overseen by an undertakings following advice deficiencies NCCP Act) independent expert for three years. Formal investigation (an investigation 9/07/2015 Financial Advisers - Other David Hodgson Failure to comply with obligations as a Responsible Entity Banned from providing financial services for 15-179MR Director of Responsible Entity 15-179MR commenced pursuant to s13 ASIC Act or s247 under the Corporations Act. two years. banned from providing financial services NCCP Act) Formal investigation (an investigation 15/04/2016 Financial Advisers - Other Paul Duncan Misleading and deceptive conduct. Banned from providing financial services for 16-113MR Variation to financial services 16-113MR commenced pursuant to s13 ASIC Act or s247 three years. banning of Paul Duncan NCCP Act) Formal investigation (an investigation 10/03/2017 Market participant & OTC issuers - All Andrew Peter Panayiotides Failed to act in the best interests of clients. Permanently banned from providing financial 17-058MR ASIC permanently bans former 17-058MR commenced pursuant to s13 ASIC Act or s247 Provided advice to clients in relation to exchange traded services Morgan Stanley Wealth Management NCCP Act) options (ETOs) that was inappropriate when considering the financial adviser from providing financial financial circumstances and objectives of the clients involved. services

Formal investigation (an investigation 16/11/2011 Financial Advisers - Compliance & Paritech Pty Ltd Failure to comply with obligations as a financial services Suspended Australian financial services 11-256AD ASIC suspends Paritech licence for 11-256AD commenced pursuant to s13 ASIC Act or s247 supervision licensee. licence for 12 months failing to lodge financial statements NCCP Act) • failed to lodge financial statements, auditor reports and auditor opinions over consecutive years • did not advise ASIC of these breaches. Formal investigation (an investigation 6/02/2013 Credit - Credit intermediaries Constantinos Patniotis Failure to maintain a trust account Permanently banned from engaging in credit 13-018MR ASIC permanently bans former WA 13-018MR commenced pursuant to s13 ASIC Act or s247 Unlicensed mortgage and finance broking activities credit representative NCCP Act) Misuse of funds Failure to obtain authority when in a position of conflict Failure to keep proper records. Formal investigation (an investigation 5/09/2011 Financial Advisers - Other James Edward Maurice Rowe Misleading and deceptive conduct. Permanently banned from providing financial 11-197AD ASIC permanently bans Sydney 11-197AD commenced pursuant to s13 ASIC Act or s247 Forged signatures of individuals applying for finance to services. man NCCP Act) purchase woodlots from FEA Plantation Ltd (FEA). Forged loan applications to FEA with a total value of approximately $300,000. Formal investigation (an investigation 23/07/2014 Financial Advisers - Other Marion Pearson, Colisa Pty Ltd Suspected misuse of use of investor funds, being largely self- Federal Court proceeding. 14-175MR ASIC obtains court orders against 14-175MR commenced pursuant to s13 ASIC Act or s247 managed superannuation funds. Asset preservation orders made by consent. former WA financial adviser NCCP Act) Interim consent orders restraining the provision of financial services advice or dealing in financial products, and from dealing with client accounts.

Formal investigation (an investigation 4/11/2015 Financial Advisers - SMSF advice Superannuation Warehouse Australia Pty Ltd False and misleading “Free SMSF Setup” advertising. Federal Court of Australia has made 15-322MR Court orders penalty for false and 15-322MR commenced pursuant to s13 ASIC Act or s247 declarations and ordered Superannuation misleading 'Free SMSF Setup' advertising NCCP Act) Warehouse Australia Pty Ltd to pay a penalty of $25,000. Formal investigation (an investigation 9/11/2015 Financial Advisers - Other Marion Joan Pearson In relation to SMSF Permanently banned from the financial 15-324MR ASIC permanently bans former 15-324MR commenced pursuant to s13 ASIC Act or s247 Engaged in conduct that was dishonest - including creating services industry. Perth financial adviser NCCP Act) false documents Engaged in conduct that was misleading or deceptive.

Formal investigation (an investigation 15/09/2017 Financial Advisers - Other Michael Davie False or misleading statements in documents submitted to Three charges of making false or misleading 17-314MRFinancial adviser sentenced for 17-314MR commenced pursuant to s13 ASIC Act or s247 ASIC. statements in documents submitted to ASIC. making false statements to ASIC NCCP Act) The court found each of the charges proven, and placed Mr Davie on a good behaviour bond for a twelve-month period, without recording a conviction. RCD.0015.0003.0262

Public Results & Reports

Formal investigation (an investigation 21/04/2016 Credit - Credit intermediaries Giulia Penna Knowingly submitted false documents for a number of clients Permanently banned from engaging in credit 16-122 MR ASIC permanently bans Sydney 16-122MR commenced pursuant to s13 ASIC Act or s247 who were seeking motor vehicle finance. activities and from providing financial finance broker NCCP Act) services.

Formal investigation (an investigation 16/01/2017 Market participant & OTC issuers - All Pershing Securities Pty Ltd Contravened subsection 798H(1) of the Corporations Act by Infringement notice issued - $40,000 17-006MR Pershing Securities pays $40,000 in 17-006MR commenced pursuant to s13 ASIC Act or s247 failing to comply with Rule 5.6.1(1) of the ASIC Market infringement notice penalty NCCP Act) Integrity Rules (ASX Market) 2010. This Rule requires trading participants to have appropriate automated filters for their automated order processing AOP) systems.

Formal investigation (an investigation 31/01/2014 Market participant & OTC issuers - All Pershing Securities Australia Pty Ltd Failing to give confirmations to Retail Clients for Market Infringement notice issued - $15,000 14-019MR Pershing Securities Australia Pty 14-019MR commenced pursuant to s13 ASIC Act or s247 Transactions entered into on the Retail Clients’ instructions. Ltd pays 15000 dollar infringement notice NCCP Act) penalty Formal investigation (an investigation 2/03/2012 Financial Advisers - Other Nenad Petrovic Misuse of client funds. Permanently banned from providing financial 12-37MR ASIC permanently bans former 12-37MR commenced pursuant to s13 ASIC Act or s247 Dishonestly withdrew more than $200,000 from client services Victorian company director and financial NCCP Act) accounts over a four-month period. adviser Formal investigation (an investigation 21/03/2016 Funds management - Superannuation Port Phillip Publishing Pty Ltd False and misleading advertising. Infringement notices. $21,600 penalty. 16-080MR Port Phillip Publishing pays 16-080MR commenced pursuant to s13 ASIC Act or s247 SMSF. $21,600 penalty for misleading NCCP Act) superannuation scare campaign Formal investigation (an investigation 16/09/2014 Credit - Credit intermediaries Shashi Kanta Prasad Creation and submission of false or misleading documents to Convicted. 14-234MR Sydney woman convicted for fraud 14-234MR commenced pursuant to s13 ASIC Act or s247 banks in support of loan applications. Good behaviour bond for 18 months. NCCP Act) Formal investigation (an investigation 19/05/2015 Credit - Credit intermediaries Shashi Prasad Creation and submission of false or misleading documents to Banned from engaging in credit activities and 15-115MR ASIC bans convicted finance broker 15-115MR commenced pursuant to s13 ASIC Act or s247 banks in support of loan applications. from providing financial services for 10 years. NCCP Act) Formal investigation (an investigation 7/09/2015 Credit - Credit intermediaries Raghwa Prasad Involved in the creation and submission of false or misleading Banned from engaging in credit activities and 15-244MR ASIC bans broker from financial 15-244MR commenced pursuant to s13 ASIC Act or s247 documents to banks in support of loan applications. from providing financial services for 4 years. services and credit activities NCCP Act)

Formal investigation (an investigation 20/12/2010 Financial Advisers - Compliance & Professional Investmant Services Non-compliance with monitoring, reporting, supervision and Enforceable Undertaking to engage an 10-275AD ASIC accepts enforceable 10-275AD commenced pursuant to s13 ASIC Act or s247 supervision risk management requirements. independent expert to review and make undertaking from Professional Investment NCCP Act) recommendations on its compliance with Services Pty Ltd specific areas addressed in the EU. Formal investigation (an investigation 21/05/2015 Financial Advisers - Other Jeffrey Revell-Reade An Australian was the mastermind of the boiler room fraud Administrative action by ASIC - permanently 15-119MR ASIC permanently bans Australian 15-119MR commenced pursuant to s13 ASIC Act or s247 scheme which snared more than 1000 British investors - UK's banned from providing financial services mastermind of UK fraud NCCP Act) Serious Frauds Office took action and he was convicted. following conviction over £70 million fraud in Great Britain. Formal investigation (an investigation 7/05/2015 Financial Advisers - SMSF advice Vanessa Ash, Bradley Grimm Unauthorised withdrawals of client funds and charging of fees. Federal Court proceeding. 16-286MR Court winds up Ostrava companies 16-286MR commenced pursuant to s13 ASIC Act or s247 SMSF context. Passports surrendered. and bans directors NCCP Act) Formal investigation (an investigation 1/09/2016 Financial Advisers - SMSF advice Ostrava Equities Pty Ltd, Ostrava Asset Serious misconduct and mismanagement of company affairs. Federal Court proceeding. 16-286MR Court winds up Ostrava companies 16-286MR commenced pursuant to s13 ASIC Act or s247 Management Pty Ltd, Ostrava Securities Pty Multiple breaches of financial services laws when acting as Winding up orders. and bans directors NCCP Act) Ltd, Ostrava Wealth Management Pty Ltd, financial adviser to SMSF clients. Beta Pharmacology Pty Ltd, Prometheus Capital Pty Ltd, Thrive Lending Pty Ltd, Trade BTC Pty Ltd and Equity Capital Partners Hedge Fund Pty Ltd

Formal investigation (an investigation 1/09/2016 Financial Advisers - SMSF advice Bradley Grimm Serious misconduct and mismanagement of company affairs. Federal Court proceeding. 16-286MR Court winds up Ostrava companies 16-286MR commenced pursuant to s13 ASIC Act or s247 Multiple breaches of financial services laws when acting as Winding up orders. and bans directors NCCP Act) financial adviser to SMSF clients.

Formal investigation (an investigation 1/09/2016 Financial Advisers - SMSF advice Vanessa Ash Serious misconduct and mismanagement of company affairs. Federal Court proceeding. 16-286MR Court winds up Ostrava companies 16-286MR commenced pursuant to s13 ASIC Act or s247 Multiple breaches of financial services laws when acting as Winding up orders. and bans directors NCCP Act) financial adviser to SMSF clients. RCD.0015.0003.0263

Public Results & Reports

Formal investigation (an investigation 20/02/2015 Funds management - Other Michael O'Sullivan Managing director of Provident Capital Limited 15-033MR ASIC bans former managing 15-033MR commenced pursuant to s13 ASIC Act or s247 • failed to exercise due care and diligence in the management director of Provident Capital Limited NCCP Act) and recording of the largest loan made by Provident Capital Administrative action by ASIC - banned through its Fixed Term Investment Portfolio Michael O’Sullivan from managing • caused Provident Capital to make misleading statements to corporations for five years and from ASIC and Australian Executor Trustees Limited providing financial services for seven years. • caused Provident Capital to issue a Debenture Prospectus in December 2010 to raise funds from the public which Mr O'Sullivan appealed ASIC's decision in the contained misleading statements, and AAT on 23 February 2015. On 2 May 2017 the • used his position improperly to gain financial advantages for AAT affirmed ASIC's decision. On 30 May himself and for a company of which he was formerly a 2017 Mr O'Sullivan lodged an appeal of the director. AAT's decision to the Federal Court. On 7 March 2018, the Federal Court set aside the AAT's decision, and ordered the matter be remitted to the AAT to be re-determined according to law.

The matter is currently before the AAT. Formal investigation (an investigation 3/07/2015 Funds management - Other John Sweeney A non-executive director of Provident Capital Limited engaged Administrative action by ASIC - banned John 15-173MR ASIC bans former director of 15-173MR commenced pursuant to s13 ASIC Act or s247 in misleading or deceptive conduct in relation to a financial Sweeney from providing financial services for Provident Capital Limited NCCP Act) product. This specifically related to when he approved two years. Provident Capital's Quarterly Reports and Benchmark Reports issued to ASIC and Australian Executor Trustees Limited. On 8 November 2017, the AAT affirmed ASIC's Decision of 29 June 2015 to ban Mr Sweeney from providing financial services for two years.

Mr Sweeney has served his banning period, which concluded on 1 July 2017. Formal investigation (an investigation 28/07/2015 Funds management - Other Trevor Seymour A former director of Provident Capital Limited breached his 15-199MR ASIC bans former director of 15-199MR commenced pursuant to s13 ASIC Act or s247 duties as a director and failed to comply with financial services Administrative action by ASIC - banned from Provident Capital Limited NCCP Act) laws. He also engaged in conduct that was misleading or managing corporations for three years and 17-455MR deceptive in relation to financial products by approving a providing financial services for three years. 17-455MR AAT affirams financial services number of documents issued by the company. banning of Trevor Seymour, former non- On 24 November 2017, the AAT affirmed executive director of Provident Capital ASIC's decision of 17 July 2015 to ban Mr Limited and sets aside disqualification from Seymour from providing financial services for managing companies 3 years, but set aside ASIC's decision to disqualify Mr Seymour from managing corporations for three years. (See new media release 17-455MR) Formal investigation (an investigation 2/06/2016 Funds management - Other Malcolm Bersten An executive director and in-house legal counsel of Provident 16-175MR ASIC bans former director and in- 16-175MR commenced pursuant to s13 ASIC Act or s247 Capital Limited breached his duties as a director and failed to house counsel of Provident Capital NCCP Act) comply with financial services laws - specifically, he failed to Administrative action by ASIC - banned from exercise due care and diligence in the management and managing corporations and providing reporting of a loan, allowed Provident Capital to make financial services for five years. inadequate and misleading statements to ASIC and its Trustee, allowed Provident Capital to issue a Debenture Prospectus ASIC and Mr Bersten settled the proceedings which contained misleading and inadequate statements and brought by Mr Bersten in the AAT for a allowed Provident Capital to make a loan to a related company review of ASIC's decision dated 19 April 2016. without obtaining adequate security.

The AAT has amended ASIC's decision by varying Mr Bersten's period of disqualification from managing corporations pursuant to s206F of the Corporations Act 2001 from five years to four years (to expire on 31 May 2020) and varying the period of Mr Bersten's banning from providing financial services pursuant to s920A of the Corporations Act 2001 from five years to three years and nine months (to expire on 29 February 2020). RCD.0015.0003.0264

Public Results & Reports

Formal investigation (an investigation 25/02/2016 Insurance - Sales practices Ace Insurance Limited/Combined Insurance Misconduct by sales representatives, including the making of Enforceable undertaking to appoint an 16-047MR Affected consumers to be 16-047MR commenced pursuant to s13 ASIC Act or s247 Company misleading statements to consumers and the sale of independent expert to review Combined's compensated as ASIC accepts EU from ACE NCCP Act) unsuitable combined insurance policies. compliance systems, implement a Insurance remediation plan to compensate affected consumers and make a donation of $1 million to financial counselling and financial literacy initiatives.

Formal investigation (an investigation 24/08/2016 Funds management - Superannuation R S Capital Partners Pty Ltd. Potentially misleading representations about the cost of Paid a $10,800 infringement notice penalty 16-266MR R S Capital Partners Pty Ltd pays 16-266MR commenced pursuant to s13 ASIC Act or s247 setting up a self-managed superannuation fund (SMSF) using issued by ASIC. infringement notice following 'free SMSF set NCCP Act) RS Capital's services. up' claims Formal investigation (an investigation 26/10/2010 Financial Advisers - Other David Radovan Concerns with the appropriateness of Mr Radovan's advice to Administrative action by ASIC - banned from 10-217AD ASIC bans WA financial adviser 10-217AD commenced pursuant to s13 ASIC Act or s247 retail clients, in which he failed to providing financial services for five years. NCCP Act) * have a reasonable basis for the advice he gave to retail clients * provide statements of advice when required * provide product disclosure statements and financial services guides when required * overexposed client portfolios to higher risk (niche) products in breach of Infocus’ policies * engaged in misleading and deceptive conduct in relation to the financial services he provided and/or induced clients to deal in the financial products he recommended.

Formal investigation (an investigation 5/11/2010 Financial Advisers - Other Danielle Marie Russell A former financial adviser ASIC accepted an EU including requirements 10-228AD Former Perth financial advisor 10-228AD commenced pursuant to s13 ASIC Act or s247 • failed to make an adequate determination of and make for CPE and supervision upon re-entry to the enters into enforceable undertaking with NCCP Act) reasonable inquiries into the relevant personal circumstances industry ASIC of clients who she made recommendations to regarding financial products • failed to give proper regard to information she obtained from clients and give proper consideration to her recommendations Formal investigation (an investigation 18/04/2016 Financial Advisers - Insurance advice Haydn Reimers Insurance broker engaged in misleading and deceptive Administrative action - permanent ban from 16-115MR ASIC permanently bans insurance 16-115MR commenced pursuant to s13 ASIC Act or s247 conduct by fabricating certificates of insurance and failing to providing financial services broker NCCP Act) notify a client that work insurnace was due. Formal investigation (an investigation 11/07/2012 Insurance - Other Phillip Paddison Failed to forward clients’ business and personal insurance Administrative action - permanent ban from 12-159MR ASIC permanently bans insurance 12-159MR commenced pursuant to s13 ASIC Act or s247 payments. These payments were meant to be forwarded to its providing financial services representative NCCP Act) financial services licensee but were paid to another company. In many cases Mr Paddison also failed to ensure clients were adequately insured.

Formal investigation (an investigation 16/09/2016 Funds management - Other Geoffrey Woodcock Companies promoting alternative investments in Australia and Administrative action by ASIC - director 16-313MR ASIC bans alternative investment 16-313MR commenced pursuant to s13 ASIC Act or s247 their director were not holders of Australian financial services banned from providing financial services for 4 spruiker for four years NCCP Act) licences or authorised representatives of a licensee. years.

Formal investigation (an investigation 5/04/2016 Credit - Other Capital Finance Australia Limited Failed on 55 occasions to provide customers with default Infringement notice issued ($493,000). 16-106MR Westpac car financier pays 16-106MR commenced pursuant to s13 ASIC Act or s247 notices prior to commencing enforcement proceedings to $493,000 for breaching consumer protection NCCP Act) repossess mortgaged vehicles. repossession laws On three occasions, did not provide customers with legally required information setting out their rights and the options available to them within the required time frame after it repossessed mortgaged vehicles.

Formal investigation (an investigation 30/06/2015 Financial Advisers - Other Lee Robin Engaged in conduct that was misleading or deceptive whilst Administrative action - permanent ban from 15-161MR ASIC permanently bans Brisbane 15-161MR commenced pursuant to s13 ASIC Act or s247 issuing unsecured fixed interest notes. ASIC also found he providing financial services financial adviser NCCP Act) failed to comply with financial services laws. Formal investigation (an investigation 7/11/2016 Financial Advisers - Other George Karakatsanis Engaged in conduct that was misleading or deceptive whilst Administrative action - permanent ban from 16-377MR ASIC permanently bans Brisbane 16-377MR commenced pursuant to s13 ASIC Act or s247 recommending clients invest in unsecured fixed interest notes. providing financial services financial adviser NCCP Act) ASIC also found he failed to comply with financial services laws. Formal investigation (an investigation 16/12/2016 Financial Advisers - SMSF advice Keira Keegan Engaged in misleading and deceptive conduct. In Administrative action by ASIC- banned from 16-443MR Sydney financial adviser banned 16-443MR commenced pursuant to s13 ASIC Act or s247 recommending that clients invest in financial products issued providing financial services for three years. for three years NCCP Act) by Protect Ensure, Ms Keegan made representations that the investments were a conservative and low risk option, when they were in fact unsecured and a high risk investment. RCD.0015.0003.0265

Public Results & Reports

Formal investigation (an investigation 8/06/2012 Funds management - Other Connaught Investment Group An unlicensed financial services business purporting to be Issued a public warning notice. 12-121MR ASIC issues warning about 12-121MR commenced pursuant to s13 ASIC Act or s247 based in the Sydney suburb of St Leonards, offering fake Connaught Investment Group NCCP Act) investment opportunities. Formal investigation (an investigation 16/05/2017 Funds management - Other Courtenay House Capital Trading Group Pty The Courtenay House companies had previously offered Orders for winding up and appointment of 17-142MR ASIC takes action to appoint 17-142MR commenced pursuant to s13 ASIC Act or s247 Ltd, Courtenay House Pty Ltd returns to investors on capital allegedly invested in foreign liquidators liquidators to Courtenay House companies NCCP Act) exchange and futures commodities when they were not licensed to do so. Formal investigation (an investigation 31/03/2017 Financial Advisers - Insurance advice Raymond Robinson Engaged in misleading and deceptive conduct in relation to Administrative action by ASIC - banned from 17-094MR ASIC bans former Victorian 17-094MR commenced pursuant to s13 ASIC Act or s247 business insurance by alterinh the insurance policies of clients providing financial services for 7 years. insurance broker for seven years NCCP Act) without their instruction, and misleading clients as to the level of cover held and the amount of fees for service he would charge. Formal investigation (an investigation 27/10/2011 Financial Advisers - Compliance & Romad Financial Services ASIC cancelled RFS’ AFS licence due to concerns that RFS had AAT granted a stay of a decision to cancel the 11–231AD AAT decision on licence 11–231AD commenced pursuant to s13 ASIC Act or s247 supervision not complied with its obligations as a financial services AFSL. cancellation of Romad Financial Services NCCP Act) licensee and would not, in the future, comply with financial services laws - specifically, RFS has failed to ensure its authorised representatives complied with financial services laws, lodge annual financial statements, auditor reports and opinions and notify of significant breaches.

Formal investigation (an investigation 2/05/2017 Credit - Other Grant Thorsby Ross Operating a financial services business without a licence. The Convicted and fined $6,000. 17-128MR Victorian man convicted over 17-128MR commenced pursuant to s13 ASIC Act or s247 offence related to a scheme promoted and operated by Mr unlicensed financial services NCCP Act) Ross that facilitated the illegal early release of superannuation funds of his clients through the creation of Self-Managed Superannuation Funds (SMSFs).

Formal investigation (an investigation 12/07/2012 Financial Advisers - SMSF advice Royale Capital Pty Ltd, ActiveSuper Pty Ltd, Two Australian SMSF advice companies were offering their Interim court orders made by Federal Court 12-161MR ASIC obtains court orders against 12-161MR commenced pursuant to s13 ASIC Act or s247 Jason Burrows, Justin Gibson SMSF clients shares in companies based in the US and the against the operators of two Queensland- Queensland-based self-managed super advice NCCP Act) British Virgin Islands, when the appropriate disclosure based self-managed superannuation advice companies documents had not first been lodged with ASIC. companies, preventing them from carrying on some of their activities following concerns ASIC was concerns included that they misled investors about their • operating an unlicensed financial services business investments. • requirement for adequate financial product disclosure to investors • unsolicited hawking of financial products, and • the provision of misleading and/or deceptive information to investors.

Formal investigation (an investigation 29/04/2013 Market participant & OTC issuers - All Lawson Donald Mr Donald dishonestly used his position as an employee of Pleaded guilty to one charge of dishonestly 13-091MR Former Bell Potter adviser 13-091MR commenced pursuant to s13 ASIC Act or s247 Bell Potter with the intention of directly or indirectly gaining using his position as an employee with the sentenced for dishonest conduct NCCP Act) an advantage for himself, or someone else, by rebooking share intention of directly or indirectly gaining an trades. advantage for himself or someone else - sentenced to a 2 year 6 month sentence, fully suspended upon entering a 2 year good behaviour bond for dishonest conduct involving more than $1.7 million.

Formal investigation (an investigation 16/07/2013 Market participant & OTC issuers - All Lawson Donald A client adviser dishonestly used his position as a Bell Potter Administrative action by ASIC - permanently 13-175MR ASIC permanently bans former Bell 13-175MR commenced pursuant to s13 ASIC Act or s247 employee with the intention of gaining a benefit for himself, banned from providing financial services Potter adviser after dishonest conduct NCCP Act) by rebooking share trades. after convicted of dishonesty offences. conviction

Formal investigation (an investigation 25/10/2013 Market participant & OTC issuers - All Lawson Donald Mr Donald was found to have dishonestly used his position as Original suspended sentence quashed and 13-290MR Former Bell Potter adviser jailed 13-290MR commenced pursuant to s13 ASIC Act or s247 an employee of Bell Potter with the intention of directly or been jailed for one year by the NSW Court of for dishonest conduct after Crown appeal NCCP Act) indirectly gaining an advantage for himself, or someone else, Criminal Appeal - he had pleaded guilty to by rebooking share trades, or transferring trades from one dishonest conduct involving more than $1.7 client account to another. million. RCD.0015.0003.0266

Public Results & Reports

Formal investigation (an investigation 19/11/2012 Financial Advisers - SMSF advice U.S. Realty Investments #1, LLC; U.S. Realty Two Australian SMSF advice companies were offering their Ex parte orders in the Federal Court of 12-289MR ASIC acts against offshore 12-289MR commenced pursuant to s13 ASIC Act or s247 Investments #2, LLC; U.S. Realty Investments SMSF clients shares in companies based in the US and the Australia appointing provisional liquidators to companies NCCP Act) #3, LLC; and U.S. Realty Investments #4, LLC British Virgin Islands, when the appropriate disclosure four companies based in the United States. documents had not first been lodged with ASIC.

ASIC was concerns included • operating an unlicensed financial services business • requirement for adequate financial product disclosure to investors • unsolicited hawking of financial products, and • the provision of misleading and/or deceptive information to investors.

Formal investigation (an investigation 19/03/2013 Financial Advisers - SMSF advice MOGS Pty Ltd (ACN 136 499 360) Two Australian SMSF advice companies were offering their Federal Court of Australia made orders 13-054MR Provisional liquidators appointed 13-054MR commenced pursuant to s13 ASIC Act or s247 SMSF clients shares in companies based in the US and the appointing joint and several provisional in SMSF investigation NCCP Act) British Virgin Islands, when the appropriate disclosure liquidators to MOGS Pty Ltd, a related documents had not first been lodged with ASIC. company.

ASIC was concerns included • operating an unlicensed financial services business • requirement for adequate financial product disclosure to investors • unsolicited hawking of financial products, and • the provision of misleading and/or deceptive information to investors.

Formal investigation (an investigation 24/09/2013 Financial Advisers - Other Spring Financial Group Pty Ltd Deficiencies in the group’s compliance measures, including ASIC accepted an EU including the 13-263MR ASIC review prompts Spring 13-263MR commenced pursuant to s13 ASIC Act or s247 • monitoring and supervision of authorised representatives requirement of an independent consultant to Financial Group into enforceable undertaking NCCP Act) activities to ensure compliance with the financial services law, conduct a review. and • insufficient training processes and education of authorised representatives.

Formal investigation (an investigation 23/05/2013 Financial Advisers - Compliance & Glenn Evans Mr Evans failed to invest money as agreed, provided false Sentenced in to five years jail with a non- 13-118MR Former Bell Potter adviser 13-118MR commenced pursuant to s13 ASIC Act or s247 supervision trading and performance reports, failed to repay the balance parole period of three years and nine months sentenced to 5 years jail NCCP Act) of the proceeds to the investors, and in some instances used for fraudulent conduct. clients' money as collateral for his personal trading account without their authorisation. Formal investigation (an investigation 12/11/2013 Financial Advisers - Compliance & EVANS, Glenn Russell Fraudulent conduct worth more than $1.6 million after Mr Administrative action by ASIC - permanently 13-307MR ASIC permanently bans jailed 13-307MR commenced pursuant to s13 ASIC Act or s247 supervision Evans had entered into contracts with individuals and self- banned from providing financial services financial services director NCCP Act) managed superannuation funds to invest in listed Australian after being jailed for fraud. equities and derivatives. Formal investigation (an investigation 10/11/2008 Funds management - Responsible Glenn Evans Reports provided to Kismet Trading clients as to the Winding up orders and continue asset AD08-59 ASIC obtains asset preservation AD08-59 commenced pursuant to s13 ASIC Act or s247 Entities & schemes performance of their investments may have been false and preservation orders against stockbroker orders against Sydney broker NCCP Act) misleading and that funds may have been misappropriated

Formal investigation (an investigation 29/05/2015 Financial Advisers - SMSF advice Craig Gore Misusing more than $4 million raised from self-managed Federal Court made an order where Craig 15-134MR Decision in ActiveSuper civil 15-134MR commenced pursuant to s13 ASIC Act or s247 superannuation fund investors. Gore was permanently banned from proceedings NCCP Act) providing financial services.

Formal investigation (an investigation 29/05/2015 Financial Advisers - SMSF advice Marina Gore Misusing more than $4 million raised from self-managed Federal Court made an order where Craig 15-134MR Decision in ActiveSuper civil 15-134MR commenced pursuant to s13 ASIC Act or s247 superannuation fund investors. Gore was permanently banned from proceedings NCCP Act) providing financial services.

Formal investigation (an investigation 29/05/2015 Financial Advisers - SMSF advice Mark Adamson Misusing more than $4 million raised from self-managed Federal Court made an order where Craig 15-134MR Decision in ActiveSuper civil 15-134MR commenced pursuant to s13 ASIC Act or s247 superannuation fund investors. Gore was permanently banned from proceedings NCCP Act) providing financial services.

Formal investigation (an investigation 29/05/2015 Financial Advisers - SMSF advice Jason Burrows Misusing more than $4 million raised from self-managed Federal Court made an order where Craig 15-134MR Decision in ActiveSuper civil 15-134MR commenced pursuant to s13 ASIC Act or s247 superannuation fund investors. Gore was permanently banned from proceedings NCCP Act) providing financial services. RCD.0015.0003.0267

Public Results & Reports

Formal investigation (an investigation 29/05/2015 Financial Advisers - SMSF advice Jeffrey George Misusing more than $4 million raised from self-managed Federal Court made an order where Craig 15-134MR Decision in ActiveSuper civil 15-134MR commenced pursuant to s13 ASIC Act or s247 superannuation fund investors. Gore was permanently banned from proceedings NCCP Act) providing financial services.

Formal investigation (an investigation 29/05/2015 Financial Advisers - SMSF advice Justin Gibson Misusing more than $4 million raised from self-managed Federal Court made an order where Craig 15-134MR Decision in ActiveSuper civil 15-134MR commenced pursuant to s13 ASIC Act or s247 superannuation fund investors. Gore was permanently banned from proceedings NCCP Act) providing financial services.

Formal investigation (an investigation 3/09/2015 Financial Advisers - SMSF advice Nicholas Hunter Mr Hunter contravened financial services laws and is bankrupt ASIC permanently banned former authorised 15-241MR Former financial advisor 15-241MR commenced pursuant to s13 ASIC Act or s247 he advised a number of SMSF clients to directly invest their representative, Nicholas Hunter, from the permanently banned from financial services NCCP Act) SMSF in property. In doing so, he failed to make adequate financial services industry. industry inquiries into the clients' existing financial circumstances, including their existing SMSF portfolio and investment strategy, and did not give advice appropriate to the clients.

Formal investigation (an investigation 19/04/2011 Financial Advisers - Compliance & The Hubb Organisation Pty Ltd Licensee made misleading and deceptive statements. A ASIC obtained permanent injunctions and 11-84MR ASIC obtains court orders against 11-84MR commenced pursuant to s13 ASIC Act or s247 supervision trading methodology business represented to members of the orders in the Federal Court, by consent, ‘Safety in the Market' for misleading or NCCP Act) public that users would be able to trade profitably in financial against the Hubb Organisation Pty Ltd, deceptive profitable trading statements products based on a proven methodology - however, there preventing it from making or publishing was no such evidence. misleading or deceptive representations about its Safety in the Market trading methodology. Formal investigation (an investigation 7/07/2015 Credit - Credit intermediaries Shiv Prakash Sahay A former credit rep made false documents and used false Convicted and sentenced to 350 hours of 15-176MR Sydney man sentenced on charges 15-176MR commenced pursuant to s13 ASIC Act or s247 documents in home loan applications submitted for his clients community service work on charges relating relating to $7 million home loan fraud NCCP Act) to and Suncorp Metway Limited. to a home loan fraud.

Formal investigation (an investigation 6/05/2015 Credit - Credit intermediaries Heritage Financial Solutions Australia Pty Ltd, Ongoing ASIC investigation into the conduct of a group of Cancelled ACL. 15-102MR ASIC cancels Australian credit 15-102MR commenced pursuant to s13 ASIC Act or s247 Heritage – Freedom & Security Pty Ltd, David people and companies related to Heritage Financial Solutions, licence of property spruiking firm NCCP Act) Parry Finance Pty Ltd involving advice to investors to establish an SMSF for investment in real estate in Queensland and arranging finance for those investments. ASIC has concerns about the way the loans and property ownership have been structured.

Formal investigation (an investigation 25/08/2015 Credit - Credit intermediaries Smithson & Baye Pty Ltd Smithson & Baye failed to keep adequate financial records, Cancelled ACL. 15-228MR ASIC cancels Australian credit 15-228MR commenced pursuant to s13 ASIC Act or s247 comply with notices to produce documents, comply with its licence of Queensland company involved with NCCP Act) licence conditions, ensure its representatives comply with the property promoting group credit legislation and ensure its representatives were adequately trained. Formal investigation (an investigation 22/09/2017 Credit - Other John Dimitropoulos ASIC found Mr Dimitropoulos Permanently banned from providing financial 17-322MRJohn Dimitropoulos permanently 17-322MR commenced pursuant to s13 ASIC Act or s247 •made false statements to ASIC in Sunpac Finance’s annual services or engaging in credit activity. banned by ASIC from financial services and NCCP Act) compliance certificates about Sunpac Finance’s compliance credit in connection with property and SMSF processes and procedures; spruiking •was involved in Sunpac Finance and Heritage Financial Solutions’ breaches of their general conduct obligations as credit licensees; •was involved in Heritage Financial Solutions carrying on a financial services business without a licence; and •engaged in conduct that demonstrated a fundamental lack of understanding of and regard for compliance with the law.

Formal investigation (an investigation 6/10/2015 Credit - Credit intermediaries Shiv Prakash Sahay A former credit rep made false documents and used false Administrative action by ASIC - permanently 15-284MR ASIC bans convicted finance broker 15-284MR commenced pursuant to s13 ASIC Act or s247 documents in home loan applications submitted for his clients banned from credit and financial services NCCP Act) to Bankwest and Suncorp Metway Limited. industries.

Formal investigation (an investigation 18/09/2015 Credit - Credit intermediaries Fernando Morais Mr Morais contravened credit legislation by recklessly Administrative action by ASIC - banned from 15-261MR ASIC bans former car loan broker 15-261MR commenced pursuant to s13 ASIC Act or s247 providing false documents to BMW Australia Finance Ltd in engaging in credit activities for ten years and cancels licence NCCP Act) relation to applications for credit he made on behalf of others.

Formal investigation (an investigation 18/09/2015 Credit - Credit intermediaries Sanfern Pty Ltd Mr Morais contravened credit legislation by recklessly ACL cancelled 15-261MR ASIC bans former car loan broker 15-261MR commenced pursuant to s13 ASIC Act or s247 providing false documents to BMW Australia Finance Ltd in and cancels licence NCCP Act) relation to applications for credit he made on behalf of others. RCD.0015.0003.0268

Public Results & Reports

Formal investigation (an investigation 24/09/2014 Funds management - Other Ishan Sappideen Misled investors about having access to an exclusive deal Administrative action by ASIC - permanently 14-248MR ASIC permanently bans Sydney 14-248MR commenced pursuant to s13 ASIC Act or s247 involving the Facebook initial public offering, created false banned from providing financial services. man from providing financial services NCCP Act) documents and was not of good fame or character. At the time of the conduct, Mr Sappideen did not hold an Australian financial services licence and was an authorised representative of an AFS licensee. Formal investigation (an investigation 1/10/2015 Credit - Credit intermediaries United Financial Services Pty Ltd Suspected loan fraud concerning loans submitted by UFS that Additional conditions imposed on Australian 15-281MR ASIC imposes licence conditions on 15-281MR commenced pursuant to s13 ASIC Act or s247 secured car loans totalling more than $7.8 million, including Credit Licence. United Financial Services Pty Ltd NCCP Act) using false payslips that overstated the consumer’s income when providing documents to UFS when it was arranging credit for the consumer, then submitting those to ANZ.

Formal investigation (an investigation 4/12/2012 Financial Advisers - Compliance & Melinda Scott Repeatedly and persistently engaged in dishonest conduct Court orders - permanently banned from 12-302MR ASIC obtains court orders 12-302MR commenced pursuant to s13 ASIC Act or s247 supervision when providing financial services, obtaining $3.6M from 56 providing financial services and disqualified permanently banning Sydney financial adviser NCCP Act) separate clients, which Ms Scott generally used for her own from managing corporations for 25 years personal benefit knowing that this was not in accordance with the clients’ instructions.

Formal investigation (an investigation 4/12/2012 Financial Advisers - Compliance & Roach Graham Scott Pty Ltd Repeatedly and persistently engaged in dishonest conduct Court orders - permanently banned from 12-302MR ASIC obtains court orders 12-302MR commenced pursuant to s13 ASIC Act or s247 supervision when providing financial services, obtaining $3.6M from 56 providing financial services and disqualified permanently banning Sydney financial adviser NCCP Act) separate clients, which Ms Scott generally used for her own from managing corporations for 25 years personal benefit knowing that this was not in accordance with the clients’ instructions.

Formal investigation (an investigation 26/09/2016 Funds management - Superannuation LT Management Pty Ltd Potentially misleading statements about the cost of setting up Infringement notice issued ($10,800). 16-324MR LT Management pays infringement 16-324MR commenced pursuant to s13 ASIC Act or s247 a self-managed superannuation fund on website. notice in relation to free SMSF set-up claims NCCP Act) Formal investigation (an investigation 21/05/2012 Financial Advisers - Compliance & Melinda Scott, Roach Graham Scott Pty Ltd, Suspected fraud by a financial adviser. NSW Supreme Court made orders preventing 12-99MR ASIC obtains court orders against 12-99MR commenced pursuant to s13 ASIC Act or s247 supervision Roach Scott Pty Ltd a director from carrying on a financial Sydney financial adviser NCCP Act) services business, as well as preventing the companies from carrying on a financial services business and restraining them from the disposing of any property (including monies and securities).

Formal investigation (an investigation 10/02/2015 Financial Advisers - Compliance & Melinda Scott Repeatedly and persistently engaged in dishonest conduct Convicted and will serve three years and ten 15-018MR Former financial adviser jailed for 15-018MR commenced pursuant to s13 ASIC Act or s247 supervision when providing financial services, obtaining $3.6M from 56 months in jail before being eligible for parole. $5.9 million fraud NCCP Act) separate clients, which Ms Scott generally used for her own personal benefit knowing that this was not in accordance with the clients’ instructions.

Formal investigation (an investigation 5/07/2011 Funds management - Responsible Seagrims Pty Ltd The licensed company AFSL suspended until 27 November 2011 11-134AD ASIC acts re Trio Seagrims licence 11-134AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes • Failed to take reasonable steps to ensure its authorised suspended and directors banned NCCP Act) representatives made reasonable inquiries about client’s personal circumstances before recommending Astarra products to clients; • Failed to provide information in its Financial Services Guide about fees and revenue it received from Astarra for recommending Astarra’s products to clients; • Failed to comply with a condition of its AFS licence that it establish and maintain compliance measures that ensure it complies with financial services laws; • Failed to comply with a condition of its AFS licence that it has total assets that exceed total liabilities or adjusted assets that exceeded adjusted liabilities; and • Failed to notify ASIC of a significant breach RCD.0015.0003.0269

Public Results & Reports

Formal investigation (an investigation 5/07/2011 Funds management - Responsible Peter Seagrim The licensed company Financial Services banning - 6 months 11-134AD ASIC acts re Trio Seagrims licence 11-134AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes • Failed to take reasonable steps to ensure its authorised suspended and directors banned NCCP Act) representatives made reasonable inquiries about client’s personal circumstances before recommending Astarra products to clients; • Failed to provide information in its Financial Services Guide about fees and revenue it received from Astarra for recommending Astarra’s products to clients; • Failed to comply with a condition of its AFS licence that it establish and maintain compliance measures that ensure it complies with financial services laws; • Failed to comply with a condition of its AFS licence that it has total assets that exceed total liabilities or adjusted assets that exceeded adjusted liabilities; and • Failed to notify ASIC of a significant breach Formal investigation (an investigation 5/07/2011 Funds management - Responsible Anne-Marie Seagrim The licensed company Financial Services banning - 6 months 11-134AD ASIC acts re Trio Seagrims licence 11-134AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes • Failed to take reasonable steps to ensure its authorised suspended and directors banned NCCP Act) representatives made reasonable inquiries about client’s personal circumstances before recommending Astarra products to clients; • Failed to provide information in its Financial Services Guide about fees and revenue it received from Astarra for recommending Astarra’s products to clients; • Failed to comply with a condition of its AFS licence that it establish and maintain compliance measures that ensure it complies with financial services laws; • Failed to comply with a condition of its AFS licence that it has total assets that exceed total liabilities or adjusted assets that exceeded adjusted liabilities; and • Failed to notify ASIC of a significant breach. Formal investigation (an investigation 19/11/2015 Funds management - Other Robert Semple, Chronos Capital Pty Limited Chronos, a licensed financial services company Semple - Permant;y banned from financial 15-348MR ASIC cancels Chronos Capital Pty 15-348MR commenced pursuant to s13 ASIC Act or s247 • breached financial services laws by representing on its services Limited's AFS licence and permanently bans NCCP Act) website that it was authorised to provide Managed Chronos Capital Pty Limited's AFSL cancelled Robert Lachlan Semple Discretionary Account services to clients in circumstances where it was not authorised to do so under its AFS licence; • breached its licence conditions by providing MDA services to three clients; and • breached financial services laws by misrepresenting an offer to clients as an investment in a debenture when the offer was in fact an unsecured loan.

Formal investigation (an investigation 11/12/2013 Credit - Credit intermediaries Wen Yao Hsish Mr Hsieh submitted 7 loan applications on behalf of 6 Permanent credit banning 13-336MR ASIC permanently bans Sydney 13-336MR commenced pursuant to s13 ASIC Act or s247 borrowers that contained false information to AMP, Westpac credit brokers NCCP Act) and Bendigo and Adelaide Bank. He was also responsible for arranging the false creation of Notices of Assessment used to support the applications. Formal investigation (an investigation 11/12/2013 Credit - Credit intermediaries Chia Min Shen Mr Hsieh submitted 7 loan applications on behalf of 6 Permanent credit banning 13-336MR ASIC permanently bans Sydney 13-336MR commenced pursuant to s13 ASIC Act or s247 borrowers that contained false information to AMP, Westpac credit brokers NCCP Act) and Bendigo and Adelaide Bank. He was also responsible for arranging the false creation of Notices of Assessment used to support the applications. Formal investigation (an investigation 14/05/2014 Financial Advisers - Compliance & LCL Capital Pty Ltd A financial advice company failed to ASIC accepted an EU in which the company 14-101MR ASIC accepts enforceable 14-101MR commenced pursuant to s13 ASIC Act or s247 supervision • ensure that financial services were provided efficiently, will submit to a supervision, review and audit undertaking from LCL Capital Pty Ltd NCCP Act) honestly and fairly; regime of its authorised representatives by • take reasonable steps to ensure that authorised an ASIC-approved expert. representatives complied with financial services law; • demonstrate adequate resources were available to provide financial services and carry out supervisory arrangements; and • ensure that authorised representatives were adequately trained and competent to provide financial services.

Formal investigation (an investigation 4/09/2013 Financial Advisers - SMSF advice Brad Sherwin Mr Sherwin was the director of eight companies which formed Administrative action by ASIC - permannetly 13-247MR ASIC bans Wickham Securities 13-247MR commenced pursuant to s13 ASIC Act or s247 a part of a group of companies known as the Sherwin Group banned from financial services as a result of chairman Brad Sherwin NCCP Act) which collapsed in early 2013. While ASIC's investigation was Mr Sherwin's bankruptcy. ongoing, Mr Sherwin filed for bankruptcy. RCD.0015.0003.0270

Public Results & Reports

Formal investigation (an investigation 28/05/2014 Credit - Other Riyanka Puteri Shiraz Finance broker committed fraud by using the identities of Convicted of two fraud charges and ordered 14-118MR Former finance broker convicted 14-118MR commenced pursuant to s13 ASIC Act or s247 former clients to defraud a finance company to purchase two to enter into two good behaviour bonds of 18 of fraud NCCP Act) cars, sell them to friends and keep the cash from the sale. months and two years, to be served concurrently.

Formal investigation (an investigation 23/02/2016 Funds management - Other Richard Li ASIC's investigation found that ASIC accepted an EU from the AFS licensee 16-042MR ASIC accepts enforceable 16-042MR commenced pursuant to s13 ASIC Act or s247 • the company had not lodged financial statements for the company and its sole director. undertaking from Sino Investment Services NCCP Act) financial years 2013-15; and director, Richard Li • as at 31 December 2014, there was a $355,144 deficiency of cash held in the trust accounts on behalf of the clients; • the clients had not consented to certain withdrawals being made from the trust accounts; and • Mr Li had authorised the withdrawals as the sole director of SIS.

Formal investigation (an investigation 12/08/2009 Market participant & OTC issuers - All Jeremy Slater Engaged in market manipulation, misleading and deceptive Administrative action by ASIC - banned from AD09-141 Former Findlay Securities broker AD09-141 commenced pursuant to s13 ASIC Act or s247 conduct and unauthorised discretionary trading. providing financial services for three years. banned for seven years NCCP Act) Formal investigation (an investigation 22/05/2013 Credit - Credit intermediaries Keith Son Engaged in dishonest conduct - Mr Son helped numerous Administrative action by ASIC - permanently 13-113MR ASIC permanently bans motor 13-113MR commenced pursuant to s13 ASIC Act or s247 customers apply for motor vehicle finance and arranged for banned from providing financial services and vehicle finance and insurance broker NCCP Act) the loan proceeds, totalling approximately $150,000 - he failed engaging in credit activities. to pay the loan funds to the motor vehicle dealerships for which they were intended and instead used the money for his own purposes. Also arranged insurance policies on vehicles and collected premium payments but failed to pass on payments to insurers. Formal investigation (an investigation 9/07/2010 Financial Advisers - Other Scott Murray Sonray was incorporated in 2003 and was one of the first Mr Murray (former CEO) gave an undertaking 10-152AD Sonray CEO provides undertaking 10-152AD commenced pursuant to s13 ASIC Act or s247 Australian companies to provide advice regarding Contracts to Federal Court that he will not leave to Federal Court NCCP Act) for Difference. Voluntary administrators were appointed to Australia without consent of Court and will Sonray Capital Markets Pty Ltd and three other associated provide ASIC with an affidavit of assets and companies on 22 June 2010. liabilities. Mr Johnson (former director) handed his passport to ASIC, undertaking to give 14 days notice of intention to travel outside Australia.

Formal investigation (an investigation 14/10/2011 Financial Advisers - Other Scott Murray Former CEO of a CFD advice company pled guilty to Sentenced to 5 years in jail on 10 charges 11-222MR Former Sonray CEO jailed 11-222MR commenced pursuant to s13 ASIC Act or s247 •six charges of false accounting involving fictitious deposits brought by ASIC. NCCP Act) totalling $36,439,588 and USD $9,779,395.25 and false withdrawals totalling $7,800,923; •two charges of theft totalling $2,256,500; •one charge of obtaining a financial advantage by deception; and •one charge of misleading an auditor concerning a capital injection of $5,200,000.

Formal investigation (an investigation 1/02/2012 Financial Advisers - Compliance & A/S Saxo Bank A/S was the former provider of the trading platform Additional licence conditions will be included 12-14AD ASIC finalises investigation into Saxo 12-14AD commenced pursuant to s13 ASIC Act or s247 supervision for collapsed broker, Sonray Capital Markets Pty Ltd. Saxo on the AFS licence under which it will Bank A/S following Sonray collapse NCCP Act) Bank has held an AFSL authorising it to provide financial continue to conduct its business in Australia, services on a wholesale basis. including appointing an expert. ASIC’s investigation focused upon the risk management practices of Saxo Bank arising out of its relationship with Sonray, one of its white label clients operating in Australia. Sonray went into liquidation and its CEO and sole director were charged with an array of offences.

Formal investigation (an investigation 17/04/2014 Financial Advisers - Other Russell Johnson Former sole director of Sonray, CFD advice company, was Former sole director convicted and sentenced 14-085MR Sonray director jailed following 46 14-085MR commenced pursuant to s13 ASIC Act or s247 charged with multiple offences, including false accounting, to six-and-a-half years in jail by Victorian million dollar collapse NCCP Act) theft and deception and conspiracy to steal. Supreme Court.

Formal investigation (an investigation 14/09/2012 Funds management - Other Commonwealth Bank of Australia CBA's $136 million of additional compensation is intended to ASIC reached a settlement with the CBA to 12-227MR ASIC and CBA reach Storm 12-227MR commenced pursuant to s13 ASIC Act or s247 ensure that each CBA investor (or investor group) who takes make available up to $136 million as Financial settlement NCCP Act) part in the settlement will get compensation of approximately compensation for losses suffered on 55% of that part of their total loss allocated to CBA under the investments made through Storm Financial ASIC compensation model. The settlement was reached Limited. without any admission of liability by CBA. RCD.0015.0003.0271

Public Results & Reports

Formal investigation (an investigation 25/05/2013 Funds management - Other Macquarie Bank Limited ASIC’s various actions in connection with Storm continue, ASIC appealed the recent decision of the 13-120MR ASIC appeals decision in 13-120MR commenced pursuant to s13 ASIC Act or s247 including its proceeding (brought in part on behalf of two Federal Court of Australia to approve the Macquarie Bank class action settlement NCCP Act) former Storm investors) against Macquarie Bank, Bank of settlement between former Storm Financial Queensland Limited, and Senrac Pty Limited, with ASIC clients and Macquarie Bank Limited. alleging unconscionable conduct in connection with their dealings with Storm investors. ASIC has also alleged that Macquarie Bank, along with , was knowingly concerned in the conduct by Storm of an illegal managed investment scheme.

Formal investigation (an investigation 29/05/2013 Credit - Other Bank of Queensland Limited, Senrac Pty ASIC alleged unconscionable conduct of Macquarie, BOQ and ASIC settled legal proceedings commenced 13-122MR ASIC settles in Storm Financial 13-122MR commenced pursuant to s13 ASIC Act or s247 Limited, Macquarie Bank Limited Senrac in connection with their dealings with Storm investors. against BOQ, Senrac and Macquarie on behalf proceedings NCCP Act) of two former Storm investors. Without admission, BOQ, Senrac and Macquarie have agreed to pay $1,100,000, which will fully compensate Barry and Deanna Doyle for their financial loss arising from their Storm investments.

Formal investigation (an investigation 22/09/2014 Funds management - Other Bank of Qld ASIC alleged unconscionable conduct of Macquarie, BOQ and BOQ agreed to pay approximately $17 million 14-244MR ASIC and Bank of Queensland 14-244MR commenced pursuant to s13 ASIC Act or s247 Senrac in connection with their dealings with Storm investors. as compensation for losses suffered on reach Storm Financial settlement NCCP Act) investments made through Storm Financial Limited. Formal investigation (an investigation 25/03/2014 Financial Advisers - Other Phillip Spark ASIC found Mr Spark Administrative action by ASIC - permanently 14-056MR ASIC permanently bans former 14-056MR commenced pursuant to s13 ASIC Act or s247 •had made statements to a client that were false and banned from providing financial services. authorised representative NCCP Act) misleading to induce the acquisition of a financial product when Mr Spark knew, or ought to have known them to be false or misleading; and •engaged in misleading and deceptive conduct by concocting the existence of the Trust.

Formal investigation (an investigation 23/05/2014 Credit - Credit intermediaries Kieu Thi-Thanh Huynh Convicted in the Supreme Court of Victoria of 27 charges of Administrative action by ASIC - permanently 14-111MR ASIC bans convicted Victorian 14-111MR commenced pursuant to s13 ASIC Act or s247 obtaining property by deception and one charge of attempting banned from engaging in credit activities finance broker from credit activities NCCP Act) to obtain property by deception - helped create fraudulent following conviction of serious fraud loan applications, for which she received up front and trailing offences. commissions, as well as cash payments for creating false payslips. Formal investigation (an investigation 9/02/2017 Credit - ADI lending David St Pierre Dishonestly used his position and submitted loan applications Sentenced to 3 years imprisonment, to be 17-025MR Former Westpac Home Finance 17-025MR commenced pursuant to s13 ASIC Act or s247 for approval when he knew they contained false information released after 6 months on a recognisance Manager sentenced to 3 years imprisonment NCCP Act) and false documents. order, after pleading guilty to three counts of after pleading guilty to dishonest use of his dishonest use of his position, with the position intention of directly or indirectly gaining an advantage for himself or others.

Formal investigation (an investigation 17/07/2015 Funds management - Other Tiy Loy Chinese Community Incorporated, Tiy ASIC was concerned that Tiy Loy was taking deposits from its Following an ASIC investigation, Tiy Loy will 15-187MR Chinese community group 15-187MR commenced pursuant to s13 ASIC Act or s247 Loy & Co Ltd members and consequently issuing debentures, a financial now provide its members with information improves protections for its members NCCP Act) product. Tiy Loy did not have an AFS licence or compliance about itself, the terms and conditions of its systems in place. members' deposits, handle deposits in appropriate ways and comply with the Anti- Money Laundering and Counter-Terrorism Financing Act 2006. RCD.0015.0003.0272

Public Results & Reports

Formal investigation (an investigation 19/12/2011 Credit - Other Star Alliance Financial Services Pty Ltd Administrative action by ASIC - cancelled ACL 11-307MR ASIC permanently bans Melbourne 11-307MR commenced pursuant to s13 ASIC Act or s247 • The company's Australian credit licence application was false and permanently banned director. director from engaging in credit activities and NCCP Act) in a material particular or materially misleading because it cancels company's credit licence failed to state that the AMP Bank had cancelled Mr Wijesekara accreditation as a broker; • Mr Wijesekara knew, or was reckless as to whether, an answer in the ACL application was false in a material particular or materially misleading; • ASIC had reason to believe that Mr Wijesekara was not a fit and proper person to engage in credit activities on the basis that he submitted false or misleading information to ASIC and provided falsified documents and false or misleading information to the AMP Bank in support of a loan application in 2010.

Formal investigation (an investigation 22/12/2011 Financial Advisers - Compliance & Trevor Benson In advising clients to adopt the Storm model of investment, Mr ASIC accepted an EU, including specified 11-315AD ASIC accepts enforceable 11-315AD commenced pursuant to s13 ASIC Act or s247 supervision McCulloch only advised clients to invest in accordance with professional education, and supervision by an undertakings from financial advisers NCCP Act) the Storm model of investment without considering whether independent senior financial planner. any other strategy would meet their needs. ASIC was also concerned that their advice involved the implementation of a gearing strategy and they failed to advise clients that the advice provided to them was not necessarily appropriate or tailored to meet their financial goals and objectives.

Formal investigation (an investigation 24/02/2011 Financial Advisers - Compliance & Stuart Drummond False and misleading statements and provided inappropriate Administrative action by ASIC - banned from 11-32AD ASIC bans former Storm financial 11-32AD commenced pursuant to s13 ASIC Act or s247 supervision advice to a number of his clients. providing financial services for four years. adviser NCCP Act) Formal investigation (an investigation 20/11/2014 Funds management - Other Vault Market Pty Ltd and MD Anamul Amin Vault Market carried on a financial services business without Banned from financiaol services - 8 years 14-309MR ASIC shuts down unlicensed FX 14-309MR commenced pursuant to s13 ASIC Act or s247 holding an Australian financial services licence and that it business and removes its director from the NCCP Act) wrongly held out that it had an AFS licence. In addition, Vault industry Market had engaged in misleading and deceptive conduct by publishing numerous statements on its website, including its Product Disclosure Statement, Financial Services Guide and Terms and Conditions

Formal investigation (an investigation 22/12/2011 Financial Advisers - Compliance & Carey Fraser In advising clients to adopt the Storm model of investment, Mr ASIC accepted an EU, including specified 11-315AD ASIC accepts enforceable 11-315AD commenced pursuant to s13 ASIC Act or s247 supervision McCulloch only advised clients to invest in accordance with professional education, and supervision by an undertakings from financial advisers NCCP Act) the Storm model of investment without considering whether independent senior financial planner. any other strategy would meet their needs. ASIC was also concerned that their advice involved the implementation of a gearing strategy and they failed to advise clients that the advice provided to them was not necessarily appropriate or tailored to meet their financial goals and objectives.

Formal investigation (an investigation 22/12/2011 Financial Advisers - Compliance & David McCulloch In advising clients to adopt the Storm model of investment, Mr ASIC accepted an EU, including specified 11-315AD ASIC accepts enforceable 11-315AD commenced pursuant to s13 ASIC Act or s247 supervision McCulloch only advised clients to invest in accordance with professional education, and supervision by an undertakings from financial advisers NCCP Act) the Storm model of investment without considering whether independent senior financial planner. any other strategy would meet their needs. ASIC was also concerned that their advice involved the implementation of a gearing strategy and they failed to advise clients that the advice provided to them was not necessarily appropriate or tailored to meet their financial goals and objectives.

Formal investigation (an investigation 26/08/2016 Financial Advisers - Bank advice Emmanuel Cassimatis, Julie Cassimatis Directors of Storm Financial breached their duties as directors Federal Court declaration of contravention. 16-277MR Directors of Storm Financial found 16-277MR commenced pursuant to s13 ASIC Act or s247 and Storm Financial provided inappropriate "one size fits all" Matter will be listed for a further hearing at a to have breached their duties under the NCCP Act) advice to certain investors. later date to determine what civil penalties Corporations Act and disqualification orders should be imposed.

Formal investigation (an investigation 9/11/2012 Financial Advisers - Other James Mousa Mr Mousa did not demonstrate that he had a reasonable basis ASIC accepted an EU including the 12-270MR Cairns financial adviser agrees to 12-270MR commenced pursuant to s13 ASIC Act or s247 for some advice provided or that he had determined the risk requirement for professional development supervision following ASIC concerns NCCP Act) tolerance of clients before providing advice. courses and supervision by an independent senior financial planner for 2 years.

Formal investigation (an investigation 30/11/2012 Financial Advisers - Other Walter Fullerton-Smith Former Storm Financial financial adviser engaged in Administrative action by ASIC - permanently 12-296MR ASIC bans financial adviser for 12-296MR commenced pursuant to s13 ASIC Act or s247 misleading and deceptive conduct and failed to comply with banned from providing financial services. failing to comply with financial services laws NCCP Act) financial services laws. RCD.0015.0003.0273

Public Results & Reports

Formal investigation (an investigation 17/12/2013 Financial Advisers - Other Walter Fullerton-Smith Misled an elderly couple with the intent to obtain a financial Charged with making a false or misleading 13-347MR Former Storm Financial adviser 13-347MR commenced pursuant to s13 ASIC Act or s247 advantage for himself and his wife. statement to obtain a financial advantage. charged NCCP Act) Formal investigation (an investigation 21/11/2012 Financial Advisers - Bank advice Terence Webb A Storm Financial adviser only advised clients to invest in ASIC accepted an EU including the 12-291MR ASIC accepts enforceable 12-291MR commenced pursuant to s13 ASIC Act or s247 accordance with the single investment strategy predominantly requirement for professional development undertaking from financial adviser NCCP Act) recommended by Storm. Further, ASIC was concerned that he courses and supervision by an independent failed to warn those clients that this advice may not have been senior financial planner for 2 years. tailored to meet their financial goals and objectives.

Formal investigation (an investigation 4/02/2009 Financial Advisers - Other Storm Financial Limited $2 million was transferred from a bank account of Storm ASIC obtained orders from the Supreme AD09-11 Storm Financial – court order AD09-11 commenced pursuant to s13 ASIC Act or s247 Financial Limited on 15 December 2008, within one month of Court of Queensland freezing a payment of freezing $2 million payment NCCP Act) the appointment of voluntary administrators to the company. $2 million from Storm Financial Limited to a ASIC is concerned that, on the information available to it, bank account held by Emmanuel Cassimatis & there does not seem to be a proper basis for the payment. Associates Pty Ltd.

Formal investigation (an investigation 11/03/2011 Funds management - Responsible Graham Werry, DTC No.1 Pty Ltd, Weriton Concerns that Mr Werry, DTC No.1 Pty Ltd and Weriton Enforceable undertaking under which Mr 11-45AD ASIC accepts enforceable 11-45AD commenced pursuant to s13 ASIC Act or s247 Entities & schemes Finance Pty Ltd Finance Pty Ltd were carrying on a financial services business Werry, DTC No.1 Pty Ltd and Weriton Finance undertaking from Sydney solicitor and NCCP Act) without holding an Australian financial services licence, issuing Pty Ltd must pay investors the principal and property developer financial products to retail clients without providing product interest on their promissory notes by 31 disclosure statements, and offering interests in an March 2011. Mr Werry, DTC No.1 Pty Ltd and unregistered managed investment scheme. Weriton Finance Pty Ltd can only issue promissory notes to new and existing investors and provide advice in relation to those promissory notes if they are authorised to do so under an Australian financial services licence. They must also ensure that they operate and offer investments in the Australian Residential Finance Trust in full compliance with the Corporations Act.

Formal investigation (an investigation 25/03/2009 Financial Advisers - Other Storm Financial Limited Directors of Storm Financial breached their duties as directors Decision of the Federal Court in Brisbane to AD09-50 ASIC welcomes court decision on AD09-50 commenced pursuant to s13 ASIC Act or s247 and Storm Financial provided inappropriate "one size fits all" order that Storm Financial Limited be placed Storm NCCP Act) advice to certain investors. into liquidation. Formal investigation (an investigation 22/12/2016 Credit - ADI lending Suncorp-Metway Limited Suncorp failed to provide consumers with the required Paid infringement notice penalties issued by 16-459MR Suncorp-Metway pays $530,000 16-459MR commenced pursuant to s13 ASIC Act or s247 written notice regarding a change in loan repayments and ASIC totalling $270,000 together with for breaching consumer credit notification NCCP Act) failed to provide consumers with a direct debit default notice. remediation of $260,000. laws

Formal investigation (an investigation 8/06/2017 Funds management - Other Synergy Financial Markets Pty Ltd False or misleading statements on its website, stating Paid an infringement notice penalty of 17-175MRSynergy Financial Markets Pty Ltd 17-175MR commenced pursuant to s13 ASIC Act or s247 investors who invest in its managed discretionary accounts will $10,800 issued by ASIC. pays $10,800 penalty for misleading NCCP Act) only pay Synergy ‘when your account profits', when in fact advertising there was an annual management fee and brokerage fees and commissions. Formal investigation (an investigation 25/11/2014 Credit - Credit intermediaries Net Finance (Corp) Pty Ltd Net Finance failed to provide credit activities honestly, Cancelled ACL. 14-312MR ASIC cancels credit licence and 14-312MR commenced pursuant to s13 ASIC Act or s247 efficiently and fairly. Net Finance induced a consumer to make bans director for 10 years NCCP Act) a false business declaration when applying for a loan by requesting a handwritten note falsely setting out that the loan was for business purposes. Formal investigation (an investigation 25/11/2014 Credit - Credit intermediaries Graham Tandy Net Finance failed to provide credit activities honestly, Cancelled ACL. 14-312MR ASIC cancels credit licence and 14-312MR commenced pursuant to s13 ASIC Act or s247 efficiently and fairly. Net Finance induced a consumer to make bans director for 10 years NCCP Act) a false business declaration when applying for a loan by requesting a handwritten note falsely setting out that the loan was for business purposes. Formal investigation (an investigation 25/11/2014 Credit - Credit intermediaries John Murphy Net Finance failed to provide credit activities honestly, Cancelled ACL. 14-312MR ASIC cancels credit licence and 14-312MR commenced pursuant to s13 ASIC Act or s247 efficiently and fairly. Net Finance induced a consumer to make bans director for 10 years NCCP Act) a false business declaration when applying for a loan by requesting a handwritten note falsely setting out that the loan was for business purposes. Formal investigation (an investigation 30/07/2012 Funds management - Other Leigh Barker False or misleading statements and misleading and deceptive Banned from engaging in financial services 12-177MR ASIC bans Sydney businessman 12-177MR commenced pursuant to s13 ASIC Act or s247 conduct in relation to a parallel imports business. for 5 years. from engaging in financial services NCCP Act) Formal investigation (an investigation 8/01/2014 Financial Advisers - Compliance & Mervyn Tarrant Numerous breaches of financial services laws including failure Banned from providing financial services for 7 14-003MR AAT affirms ASIC's banning of a 14-003MR commenced pursuant to s13 ASIC Act or s247 supervision to disclose commissions, making false or misleading years. AAT affirmed ASIC's original decision. Wollongong financial planner NCCP Act) statements and/or engaging in misleading and deceptive conduct in relation to expected remuneration and benefits and failure to have a reasonable basis for advice provided. RCD.0015.0003.0274

Public Results & Reports

Formal investigation (an investigation 1/09/2014 Market participant & OTC issuers - All Taylor Collison Ltd (MIR) Failing to prevent the entry into the ASX Trading Platform of Infringement notice issued - $30,000 14-217MR Taylor Collison Limited pays 14-217MR commenced pursuant to s13 ASIC Act or s247 an erroneous Order which resulted in a market for BC Iron $30,000 infringement notice penalty NCCP Act) Limited ordinary shares not being both fair and orderly.

Formal investigation (an investigation 3/07/2014 Credit - Other Teleloans Pty Ltd and Finance & Loans Direct Mis-use of short-term credit exemption to avoid responsible Civil proceedings in the Federal Court of 14-150MR ASIC takes action against payday 14-150MR commenced pursuant to s13 ASIC Act or s247 Pty Ltd lending obligations Australia. lending businesses NCCP Act) Formal investigation (an investigation 8/09/2016 Financial Advisers - Other The Sharemarket College Failure to comply with obligations as a financial services AFSL Cancelled 16-299MR ASIC cancels AFS licence of The 16-299MR commenced pursuant to s13 ASIC Act or s247 licensee. Sharemarket College for making misleading NCCP Act) statements and bans responsible managers

Formal investigation (an investigation 8/09/2016 Financial Advisers - Other Graeme Allan Roggers Failure to comply with obligations as a financial services 3 year financial services banning 16-299MR ASIC cancels AFS licence of The 16-299MR commenced pursuant to s13 ASIC Act or s247 licensee. Sharemarket College for making misleading NCCP Act) statements and bans responsible managers

Formal investigation (an investigation 8/09/2016 Financial Advisers - Other Jill Rogers Failure to comply with obligations as a financial services 4 year financial services banning 16-299MR ASIC cancels AFS licence of The 16-299MR commenced pursuant to s13 ASIC Act or s247 licensee. Sharemarket College for making misleading NCCP Act) statements and bans responsible managers

Formal investigation (an investigation 20/06/2014 Financial Advisers - Other Grant Thompson Engaging in conduct counter to financial services laws. In Subject permanently banned from providing 14-135MR ASIC permanently bans former 14-135MR commenced pursuant to s13 ASIC Act or s247 particular, devising strategies to assist a client deceive financial services on the basis that he was not Southport based financial adviser NCCP Act) creditors about the fate of assets, with the intention of of good fame or character. avoiding debts owed to creditors. Formal investigation (an investigation 16/04/2013 Credit - Credit intermediaries Arthur Sperling Engaging in false or misleading conduct. Subject submitted 10 Banned from engaging in credit activities for 13-080MR ASIC bans Sydney mortgage broker 13-080MR commenced pursuant to s13 ASIC Act or s247 home loan applications containting false or misleading 5 years and cancellation of Australian credit and cancels his Australian credit licence NCCP Act) information. The amount of these loans totalled $4.132 lic ence. million. Formal investigation (an investigation 10/02/2017 Financial Advisers - Insurance advice Darren Tindall Failure to comply with financial services laws. Including, Banned from providing financial services for 5 17-026MR ASIC bans financial adviser for five 17-026MR commenced pursuant to s13 ASIC Act or s247 engaging in misleading and deceptive conduct on a client's years. years NCCP Act) behalf by failing to disclose their pre-existing medical conditions on an insurance application; engaging in dishonest conduct by not disclosing the medical conditions in transferring that insurance obtained to a new insurer; and recklessly making misleading comparisons about superannuation products to four clients, which induced those clients to switch their superannuation.

Formal investigation (an investigation 19/02/2014 Financial Advisers - Compliance & Manish Babulal Jani Failure to uphold a number of general obligations expected of Enforceable Undertaking preventing subject 14-033MR ASIC accepts enforceable 14-033MR commenced pursuant to s13 ASIC Act or s247 supervision a director of an Australian financial services (AFS) licensee. from managing a corporation for 5 years and undertaking from former director NCCP Act) from having any involvement in financial services for 2 years. Formal investigation (an investigation 18/04/2014 Financial Advisers - Compliance & AIE Fiduciary Services Pty Ltd Failure to properly monitor and supervise certain authorised Cancellation of AFS licence. 14-052MR ASIC cancels Australian financial 14-052MR commenced pursuant to s13 ASIC Act or s247 supervision representatives. General concerns about the management of services licence of AIE Fiduciary Services Pty NCCP Act) the subject company and its compliance with AFS licence Ltd obligations. Formal investigation (an investigation 28/11/2013 Financial Advisers - Other Kevin Whitting Providing inappropriate advice and providing false and Convicted in Frankston Magistrates Court for 13-321MR Former financial adviser convicted 13-321MR commenced pursuant to s13 ASIC Act or s247 misleading statements in relation to a managed investment providing inappropriate advice to 5 clients and ordered to pay back money NCCP Act) scheme. and ordered to pay back the more than $684,000 they collectively invested and fined $5000. Subject pleaded guilty to 5 charges of providing inappropriate advice and admitted a further 5 charges of providing false and misleading statements.

Formal investigation (an investigation 7/12/2010 Financial Advisers - Compliance & Jenny Tran Failure to comply with financial services laws, including Banned from providing financial services for 5 10-260AD Sydney financial adviser banned 10-260AD commenced pursuant to s13 ASIC Act or s247 supervision dishonest conduct, misleading and deceptive conduct, failure years. NCCP Act) to act in accordance with client instructions, unauthorised discretionary trading and misleading and deceptive conduct regarding the transfer of funds from the company to client accounts. Formal investigation (an investigation 15/05/2014 Funds management - Responsible Australian Mutual Holdings Limited Misleading statements in product disclosure statements. Infringement notices issued ($20,400 in total) 14-102MR Australian Mutual Holdings pays 14-102MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes penalties for misleading statements NCCP Act) RCD.0015.0003.0275

Public Results & Reports

Formal investigation (an investigation 6/11/2014 Funds management - Responsible Trident Investment Management Pty Limited Misleading representations in the promotion of investment Infringement notice ($10,200) and removal of 14-292MR Trident Investment Management 14-292MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes funds. It was stated that returns for the income fund were misleading statements from the company Pty Ltd pays $10,200 penalty for misleading NCCP Act) 9.27% for a six-month period. But the percentage stated failed website. statements to include the Income Fund's negative capital growth which meant that actual returns were significantly lower.

Formal investigation (an investigation 12/08/2011 Funds management - Responsible Shawn Richard Dishonest conduct while providing financial services and Subject convicted of two charges of dishonest 11–169MRFormer Astarra investment 11-169MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes making false statements in relation to a financial product. conduct while providing financial services. manager sentenced to jail NCCP Act) Sentenced in the NSW Supreme Court to 3 years and 9 months imprisonment with a minimum term of two years and 6 months.

Formal investigation (an investigation 6/03/2013 Funds management - Responsible Eugene Liu Misconduct related to the collapse of Trio Capital Limited. Subject permanently banned from providing 13-041MR Former Astarra investment 13-041MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Subject director engaged in dishonest conduct and conduct financial services for failure to comply with manager permanently banned from financial NCCP Act) that was misleading or likely to mislead. financial services laws. services industry Formal investigation (an investigation 28/07/2017 Market participant & OTC issuers - All Avalon Pacific Capital Pty Ltd Dealing in securities of five overseas registered companies ASIC accepted an enforceable undertaking. 17-250MRASIC accepts enforceable 17-250MR commenced pursuant to s13 ASIC Act or s247 listed on the National Stock Exchange of Australia - ASIC is Avalon Pacific has undertaken to cancel its undertaking from NSX market participant NCCP Act) concerned that Avalon Pacific ought reasonably to have NSX market participant status and not to deal suspected that orders were placed with the intention of in NSX listed companies via another market creating a false or misleading appearance of the price of the participant. securities. Formal investigation (an investigation 20/12/2017 Funds management - Other Realestate Equity Investment Trust, Timeline Orders to wind up scheme Keep 17-450MRASIC winds up Victorian land 17-450MR commenced pursuant to s13 ASIC Act or s247 Project Management Pty Ltd banking scheme NCCP Act) Formal investigation (an investigation 4/07/2011 Funds management - Responsible Rex Phillpott Misconduct related to the collapse of Trio Capital Limited. Enforceable Undertaking preventing subject 11-133MR Former directors of Trio Capital 11-133MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes from acting as a director of any corporation prevented from working in financial services NCCP Act) or in any role within the financial services industry industry for 15 years. Formal investigation (an investigation 4/07/2011 Funds management - Responsible Natasha Beck Misconduct related to the collapse of Trio Capital Limited. Enforceable Undertaking preventing subject 11-133MR Former directors of Trio Capital 11-133MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes from acting as a director of any corporation prevented from working in financial services NCCP Act) or in any role within the financial services industry industry for 15 years. Formal investigation (an investigation 11/08/2011 Funds management - Responsible David Andrews Misconduct related to the collapse of Trio Capital Limited. Enforceable Undertaking prevent subject 11-166MR Trio former chairman and director 11-166MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes from acting in any role within the financial agrees to nine year exclusion from financial NCCP Act) services industry or acting as a director of any services industry corporation for 9 years (with one listed exception.) Formal investigation (an investigation 24/08/2011 Funds management - Responsible Keith Finkelde Misconduct related to the collapse of Trio Capital Limited. Enforceable Undertaking preventing subject 11-182MR Remaining Trio former directors 11-182MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes from acting in any role within the financial excluded from financial services industry for NCCP Act) services industry or acting as a director of any four years corporations for 4 years. Formal investigation (an investigation 24/08/2011 Funds management - Responsible David O’Bryen Misconduct related to the collapse of Trio Capital Limited. Enforceable Undertaking preventing subject 11-182MR Remaining Trio former directors 11-182MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes from acting in any role within the financial excluded from financial services industry for NCCP Act) services industry or acting as a director of any four years corporations for 4 years. Formal investigation (an investigation 19/12/2013 Financial Advisers - Other Thanh Quoc Tu Financial adviser involved in suspected fraud. Interim (Airport Watch List) Orders 13-354MR ASIC obtains court orders against 13-354MR commenced pursuant to s13 ASIC Act or s247 preventing subject from leaving Australia and Queensland financial adviser NCCP Act) requiring subject to surrender his passports and visas for any other country to the Registrar of the Supreme Court in Brisbane.

Formal investigation (an investigation 22/07/2014 Financial Advisers - Other Thanh Quouc Tu Adviser acting dishonestly in relation to clients' funds and Subject permanently banned from providing 14-171MR ASIC permanently bans 14-171MR commenced pursuant to s13 ASIC Act or s247 engaging in conduct designed to conceal dishonest behaviour. financial services. Queensland financial adviser NCCP Act) Formal investigation (an investigation 18/01/2016 Financial Advisers - Other Thanh Quoc Tu Dishonestly inducing 18 separate individual investors to invest Subject sentenced to 9.5 year imprisonment 16-007MR Former Brisbane financial advisor 16-007MR commenced pursuant to s13 ASIC Act or s247 approximately $9Million by misleading investors and by giving in the Brisbane District Court for 33 counts of jailed after pleading guilty to fraud charges NCCP Act) some investors false Certificates of Investment in a ficititious fraud and 21 counts of fraudulent falsification Fund. of records.

Formal investigation (an investigation 15/06/2017 Market participant & OTC issuers - UBS Securities Australia Limited Operation, use and monitoring of a crossing system known as Infringement notice issued - $280,000 17-185MRUBS Securities pays $280,000 in 17-185MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks UBS Price Improvement Network; and, incorrect disclosures in infringement notice penalties NCCP Act) crossing confirmations about execution venue and trading as principal, and the provision of incorrect regulatory data to market operators. RCD.0015.0003.0276

Public Results & Reports

Formal investigation (an investigation 9/12/2011 Market participant & OTC issuers - All Hoong Kee Tang Charges of market manipulation, and one charge of making a Convicted on four counts of market 11-286MR Former company director 11-286MR commenced pursuant to s13 ASIC Act or s247 false or misleading statement to ASIC. manipulation and one count of making false convicted of market manipulation NCCP Act) or misleading statements to ASIC, and fined a total of $10,000. Formal investigation (an investigation 22/10/2013 Market participant & OTC issuers - UBS Securities Australia Limited Conduct which resulted in a market for a put option not being Infringement notice issued - $50,000 13-287MR UBS Securities Australia Ltd pays 13-287MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks both fair and orderly. $50,000 infringement notice penalty NCCP Act) Formal investigation (an investigation 17/03/2011 Financial Advisers - Compliance & UBS Wealth Management Australia Ltd Failure to provide Statements of Advice to 764 retail clients. Enforceable Undertaking to modify key 11-52MR ASIC accepts legally enforceable 11-52MR commenced pursuant to s13 ASIC Act or s247 supervision aspects of compliance culture and undertaking from UBS Wealth Management NCCP Act) frameworks and remedy past compliance Australia failures in the provision of financial advice to retail clients, including setting up a claims process. Formal investigation (an investigation 21/01/2015 Insurance - Sales practices Neni Vijayant Tiwary, Gargi Tripathi Failure to keep adequate written records of companies' Tiwary and Tripathi both banned from 15-006MR ASIC bans former directors from 15-006MR commenced pursuant to s13 ASIC Act or s247 finances and failure to exercise duties as a director with care managing companies for 3 years. managing companies NCCP Act) and diligence. Formal investigation (an investigation 24/08/2016 Funds management - Responsible Macquarie Investment Management Ltd Failure to comply with duties as a responsible entity, including Supreme Court of New South Wales ordered 16-271MR Macquarie Investment 16-271MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes failure to exercise the required degree of care and diligence subject to pay a civil pecuniary penalty of Management penalised over Corporations NCCP Act) and failure to make adequate and timely enquiries. $400,000 and $200,000 for ASIC's legal costs. Act contraventions

Formal investigation (an investigation 4/07/2014 Funds management - Responsible Mark Hildebrandt Improper use of position as an employee of a responsible Subject sentenced in the Supreme Court of 14-156MR Former portfolio manager 14-156MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes entity of a registered scheme, including dishonest conduct and Victoria to 22 months imprisonment (to be sentenced to jail NCCP Act) breach of trust. released after 8 months with a 12 month good behaviour bond). Formal investigation (an investigation 20/04/2011 Financial Advisers - Compliance & Brian Veitch Failure to comply with financial services laws including Subject permanently banned from providing 11-85AD ASIC permanently bans former 11-85AD commenced pursuant to s13 ASIC Act or s247 supervision engaging in dishonest counduct and engaging in misleading financial services. Wealthsure financial adviser NCCP Act) and deceptive conduct in relation to client monies.

Formal investigation (an investigation 1/07/2014 Financial Advisers - Compliance & Brian Veitch Fraudulent transfer of client funds without their knowledge or Subject sentenced to 6 years and 2 months 14-145MR Former WealthSure financial 14-145MR commenced pursuant to s13 ASIC Act or s247 supervision authority and providing a client with a false portfolio imprisonment with a 4 year non parole adviser jailed for $500,000 fraud NCCP Act) statement. period. Formal investigation (an investigation 29/04/2014 Insurance - Sales practices Virgin Money (Australia) Pty Limited Misleading online and television advertising in relation to the Infringement Notices issued x 3 ($30,600 in 14-091MR Virgin Money pays 30600 dollar 14-091MR commenced pursuant to s13 ASIC Act or s247 'Quick & Easy' life insurance product. In particular, that no total) penalty for misleading advertising NCCP Act) health and lifestyle questions would be asked, when in fact they were asked and the answers provided were used to calculate premiums. Further that weight was not a factor affecting coverage of the product, when weight could be a factor determining the coverage offered.

Formal investigation (an investigation 22/12/2014 Market participant & OTC issuers - All First Prudential Markets Pty Ltd First Prudential's compliance processes for detecting and ASIC accepted an EU under which First 14-345MR ASIC accepts enforceable 14-345MR commenced pursuant to s13 ASIC Act or s247 dealing with potentially manipulative client trading may not Prudential is required to engage an undertaking from First Prudential Markets on NCCP Act) have been adequate. independent expert, among other things. compliance processes

Formal investigation (an investigation 28/11/2017 Credit - Other Volkswagen Financial Services Australia Pty Misleading advertising, in particular, failure to give sufficient Infringement Notices issued x 20 ($216,000 in 17-410MRVolkswagen Financial Services 17-410MR commenced pursuant to s13 ASIC Act or s247 Ltd prominence to important conditions and failure to adequately total) Australia pays $216,000 penalty for NCCP Act) explain how some of the conditions operated. misleading advertising

Formal investigation (an investigation 7/01/2009 Market participant & OTC issuers - All KIRWAN MICHAEL MELVILLE ASIC expressed concerns that Mr Kirwan ASIC has accepted an enforceable AD09-01 ASIC accepts enforceable AD09-01 commenced pursuant to s13 ASIC Act or s247 •caused bids to be placed on the Australian Securities undertaking. The EU requires Mr Kirwan not undertaking from former Victorian NCCP Act) Exchange (ASX) which were likely to maintain an artificial price to provide any financial services for five stockbroker for Senetas shares; years. •may have acted in a way that was likely to create a false or misleading appearance in the market regarding the trading price for Senetas shares; •failed to disclose to clients a conflict of interest in relation to Senetas shares; and •failed to accurately maintain records of clients’ instructions regarding trading on the ASX. Formal investigation (an investigation 16/08/2013 Market participant & OTC issuers - All Jonathan Jin Ti Ang Insider trading - Using inside information about the acquisition Convicted for insider trading and sentenced 13-217MR Former analyst convicted of insider 13-217MR commenced pursuant to s13 ASIC Act or s247 of Norton Gold Fields Limited by Zijin Mining Group Co Ltd to a two-year good behaviour bond. trading NCCP Act) that was announced on the ASX, for a gross profit of $4172.60.

Formal investigation (an investigation 22/05/2017 Credit - Credit intermediaries Thuy Thi Vu Submitting false or misleading information in support of loan Convicted of 9 charges of submitting false or 17-147MR Former finance analyst convicted 17-147MR commenced pursuant to s13 ASIC Act or s247 applications. misleading information in support of loan on charges relating to falsified car loan NCCP Act) applications. Required to enter into a applications recognizance of $2000 and a 12 month good behaviour bond. RCD.0015.0003.0277

Public Results & Reports

Formal investigation (an investigation 24/07/2017 Credit - Credit intermediaries VU, Thuy Thi Submitting false or misleading information in support of loan Subject permanently banned from the credit 17-247MRASIC permanently bans former 17-247MR commenced pursuant to s13 ASIC Act or s247 applications. and financial services industries. finance analyst NCCP Act) Formal investigation (an investigation 4/07/2013 Insurance - Other Pavan Vyas Falsification of documents to earn commissions. Including Subject permanently banned from providing 13-163MR False identities used in ASIC 13-163MR commenced pursuant to s13 ASIC Act or s247 submitting applications for life insurance for people that did financial services. insurance ‘tombstoning’ case NCCP Act) not exist. Formal investigation (an investigation 5/03/2014 Insurance - Other Pavan Vyas Submitting false insurance applications in the names of dead Sentenced to 2 years imprisonment to be 14-039MR Former financial adviser convicted 14-039MR commenced pursuant to s13 ASIC Act or s247 or fictitious people. served by way of an Intensive Correction for dishonest conduct NCCP Act) Order (ICO). Formal investigation (an investigation 15/04/2014 Insurance - Other Pavan Vyas Submitting false insurance applications in the names of dead Subject permanently banned from engaging 14-078MR ASIC bans convicted former 14-078MR commenced pursuant to s13 ASIC Act or s247 or fictitious people. in credit activities following conviction for adviser from credit industry NCCP Act) dishonest conduct. Formal investigation (an investigation 11/04/2014 Funds management - Other Wealth Within Limited Misleading online advertisments overstating investment Infringement Notices issued x 2 ($20,400 in 14-075MR Wealth Within Ltd pays $20,400 in 14-075MR commenced pursuant to s13 ASIC Act or s247 returns. total) penalties over misleading advertising NCCP Act) Formal investigation (an investigation 2/09/2013 Financial Advisers - Other Wealthsure Pty Ltd, Wealthsure Financial Recurring compliance deficiencies. Insufficient priority to risk Enforceable Undertaking requiring subject to 13-240MR ASIC accepts enforceable 13-240MR commenced pursuant to s13 ASIC Act or s247 Services Pty Ltd management resulting in consumer detriment. complete a program to address its failure to undertaking from Wealthsure Pty Ltd, NCCP Act) foster and maintain a proper commitment to Wealthsure Financial Services Pty Ltd and its compliance obligations. Program to be their former CEO reviewed by an independent expert who will report to ASIC regularly until 2018.

Formal investigation (an investigation 2/09/2013 Financial Advisers - Other Darren Pawski Recurring compliance deficiencies. Insufficient priority to risk Enforceable Undertaking requiring subject to 13-240MR ASIC accepts enforceable 13-240MR commenced pursuant to s13 ASIC Act or s247 management resulting in consumer detriment. complete a program to address its failure to undertaking from Wealthsure Pty Ltd, NCCP Act) foster and maintain a proper commitment to Wealthsure Financial Services Pty Ltd and its compliance obligations. Program to be their former CEO reviewed by an independent expert who will report to ASIC regularly until 2018.

Formal investigation (an investigation 30/05/2013 Funds management - Responsible Wellington Capital Limited, Perpetual Responsible Entity failing to exercise its powers in accordance ASIC appealed successfully to the Full Court 13-127MR Wellington Capital distribution to 13-127MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes Nominees Limited, Asset Resolution Limited with the Constitution of the Registered Scheme in breach of of the Federal Court. Court ordered unit holders found to be invalid NCCP Act) section 601FB(1) of the Corporations Act. declarations that RE did not have the power to make an in speciedistribution of shares as opposed to cash and acted contrary to the Constitution of the Registered Scheme in doing so. RE ordered to pay ASIC's costs.

Formal investigation (an investigation 6/11/2014 Funds management - Responsible Wellington Capital Limited Responsible Entity failing to exercise its powers in accordance High Court unanimously dismissed an appeal 14-293MR Wellington Capital's High Court 14-293MR commenced pursuant to s13 ASIC Act or s247 Entities & schemes with the Constitution of the Registered Scheme in breach of by the RE challenging decision of the Full appeal dismissed NCCP Act) section 601FB(1) of the Corporations Act. Court of the Federal Court. High Court agreed with ASIC that pursuant to the Constitution, the RE could only make distributions to the unit holders of the Registered Scheme in cash and not shares.

Formal investigation (an investigation 17/09/2014 Deposit takers - Deposit products Westpac Potentially misleading statements in a Product Disclosure Infringement Notices issued x 2 ($20,400 in 14-236MR Westpac pays $20,400 penalty for 14-236MR commenced pursuant to s13 ASIC Act or s247 Statement and other promotional material in relation to the total) misleading statements NCCP Act) investment returns on an Annuity Deposit product.

Formal investigation (an investigation 17/12/2009 Credit - Other Westpac Banking Corporation Potential contravention of section 12DL of the ASIC Act 2001 Federal Court found no contravention of 09-257AD ASIC notes Federal Court decision 09-257AD commenced pursuant to s13 ASIC Act or s247 section 12DL. First time a Court has regarding Westpac unsolicited Debit NCCP Act) considered the operation of section 12DL. Mastercards

Formal investigation (an investigation 1/03/2017 Credit - ADI lending Westpac Banking Corporation Breach of responsible lending provisions of the National Credit Civil penalty proceedings commenced in the 17-048MR ASIC commences civil penalty 17-048MR commenced pursuant to s13 ASIC Act or s247 Act. ASIC alleging failure by Westpac to properly assess Federal Court. proceedings against Westpac for breaching NCCP Act) whether borrowers could meet their repayment obligations home-loan responsible lending laws before entering into home loan contracts, and reliance on cost of living benchmarks instead of actual expenses.

Formal investigation (an investigation 27/06/2017 Market participant & OTC issuers - Westpac Banking Corporation Breach of the ASIC Derivative Transactions (Reporting) Rules Infringment notice ($127,250) 17-208MRWestpac pays $127,250 to comply 17-208MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks 2013 (ASIC) during particular period. with infringement notice penalty NCCP Act) RCD.0015.0003.0278

Public Results & Reports

Formal investigation (an investigation 28/10/2016 Financial Advisers - Other Linda Whelan Misused of position as treasurer of an organisation by drawing Subject permanently banned from providing 16-366MR ASIC bans former Gladstone 16-366MR commenced pursuant to s13 ASIC Act or s247 cheques from the organisation's account which Ms Whelan financial services or engaging in credit financial advisor NCCP Act) subsequently cashed for her own benefit. activity following imprisonment for fraud and stealing charges brought by the Queensland DPP. Subject ordered to pay $33,419.11 in compensation. Formal investigation (an investigation 23/12/2013 Market participant & OTC issuers - National Australia Bank Failure by NAB to have adequate monitoring and control Enforceable Undertaking - NAB has agreed to 13-365MR ASIC accepts enforceable 13-365MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks systems in place in relation to the 18 October 2012 share price adopt specific monitoring and control undertaking from National Australia Bank NCCP Act) spike of the ASX 200. systems for its direct market access trading and ASIC will supervise the certification of those systems for the next three years. NAB also made a $2M voluntary contribution to financial literacy programs within Australia.

Formal investigation (an investigation 9/08/2013 Financial Advisers - Insurance advice Bruce Wickett Serious fraud offences including the theft of insurance 18 month custodial sentence. 13-210MR Former insurance broker 13-210MR commenced pursuant to s13 ASIC Act or s247 premiums totalling $662,198.31 sentenced to jail for $660,000 theft for online NCCP Act) love Formal investigation (an investigation 23/12/2013 Financial Advisers - Insurance advice Bruce Wickett Serious fraud offences including the theft of insurance Subject permanently banned from providing 13-361MR ASIC permanently bans former 13-361MR commenced pursuant to s13 ASIC Act or s247 premiums totalling $662,198.31 financial services. CEO of Wickett Investments following NCCP Act) $660,000 fraud Formal investigation (an investigation 25/02/2015 Financial Advisers - Compliance & David Wilkins Authorised representative engaging in misleading conduct, Subject banned from providing financial 15-038MR ASIC bans Queensland financial 15-038MR commenced pursuant to s13 ASIC Act or s247 supervision providing inappropriate advice and failing to make appropriate services for 5 years. advisor for five years NCCP Act) enquiries about the personal circumstances of clients.

Formal investigation (an investigation 4/07/2017 Financial Advisers - Insurance advice Jeff Bailey Director of AFS licensee involved in breaches of the law, Subject permanently banned from the 17-223MRPerth insurance broker 17-223MR commenced pursuant to s13 ASIC Act or s247 including failure to lodge audited financial accounts within the financial services industry. permanently banned from the financial NCCP Act) required timeframe and failure to lodge a breach report with services industry ASIC within the appropriate time frame.

Formal investigation (an investigation 9/11/2010 Market participant & OTC issuers - All Lim Theam Chye Grounds to believe Mr Lim had failed to comply with a Banned former client adviser, Mr Lim Theam 10-230AD ASIC bans Melbourne client adviser 10-230AD commenced pursuant to s13 ASIC Act or s247 financial services law, and there was reason to believe that he Chye, of Melbourne, from providing financial for market manipulation NCCP Act) would not comply with a financial services law in the future. services for five years.

Formal investigation (an investigation 15/02/2016 Financial Advisers - Compliance & Darren Wise Dishonestly gaining a benefit, making and using false Subject permanently banned from providing 16-032MR ASIC permanently bans financial 16-032MR commenced pursuant to s13 ASIC Act or s247 supervision documents. financial services. adviser Darren Wise NCCP Act) Formal investigation (an investigation 15/11/2016 Financial Advisers - Compliance & Darren Wise Financial adviser forging client signatures, using false marging Subject sentenced to 7 years imprisonment. 16-388MR Former financial adviser jailed for 16-388MR commenced pursuant to s13 ASIC Act or s247 supervision lending applications to fraudulently induce lender to provide forgery and misuse of client assets NCCP Act) margin loans for personal gain. Formal investigation (an investigation 15/05/2017 Financial Advisers - Other Stuart Arnold-Levy, David Heycock Failure to advice ASIC of unlicensed conduct and providing Arnold Levy - 4 year financial services 17-136MR ASIC bans two Victorian men from 17-136MR commenced pursuant to s13 ASIC Act or s247 clients with financial advice that was inappropriate and not in banning providing financial advice NCCP Act) their best interests. Heycock - 6 year financial services banning

Formal investigation (an investigation 18/11/2016 Financial Advisers - Other James McCarthy Creating false documents and forging client signatures for the Banned from providing financial services until 16-398MR ASIC bans former AMP Financial 16-398MR commenced pursuant to s13 ASIC Act or s247 purpose of complying with an internal audit. 14 November 2024. Planning representative from providing NCCP Act) financial services for eight years

Formal investigation (an investigation 18/08/2017 Financial Advisers - Other Daniel Noonan Misappropriated a total of $2,495,117 from 14 clients over a Subject permanently banned from the credit 17-273MRASIC permanently bans former 17-273MR commenced pursuant to s13 ASIC Act or s247 period of nine years. and financial services industries following a Tasmanian financial adviser NCCP Act) conviction in the Supreme Court of Tasmania. Subject sentenced to 6.5 years imprisonment with a non-parole period of half that sentence. Formal investigation (an investigation 22/12/2015 Misconduct in OTC markets Angus Aitken, Bell Potter Securities Limited ASIC's investigation identified concerns in the way Mr Aitken Mr Aitken to undertake various training and 15406MRASIC accepts EUs from Institutional 15-406MR commenced pursuant to s13 ASIC Act or s247 handled and disclosed information about an institutional compliance measures, and Bell Potter to Stockbroker and Hedge Fund Trader for NCCP Act) client's possible selling intentions in securities of Ten Network implement various compliance measures in concerns about misuse of confidential client Holdings Ltd relation to Mr Aitken, including the recording information of telephone calls made to and from Mr Aitken's business phone and conducting reviews of client trades executed by Mr Aitken.

Will make a voluntary contribution of $80,000 to Financial Literacy Australia Limited RCD.0015.0003.0279

Public Results & Reports

Formal investigation (an investigation 14/01/2016 Financial Advisers - Compliance & Ben Cheung Misleading and deceptive conduct including forging client Subject banned from providing financial 16-004MR ASIC bans former ANZ bank 16-004MR commenced pursuant to s13 ASIC Act or s247 supervision signatures and creating false documents. services for 10 years. adviser for ten years NCCP Act) Formal investigation (an investigation 16/06/2017 Financial Advisers - Other Robert Hutchison Misleading and deceptive conduct including double charging Subject permanently banned from providing 17-188MR ASIC permanently bans Perth 17-188MR commenced pursuant to s13 ASIC Act or s247 clients and failing to comply with proper processes for financial services. financial adviser NCCP Act) remitting and reporting fees for personal gain.

Formal investigation (an investigation 6/12/2017 Financial Advisers - Other Mathew Manson Submitting false insurance applications to maximise Permanent banning from providing financial 17-420MRASIC permanently bans directors of 17-420MR commenced pursuant to s13 ASIC Act or s247 commissions received. services Found Financial for dishonest and deceptive NCCP Act) conduct Formal investigation (an investigation 6/12/2017 Financial Advisers - Other Rochelle Manoharan Submitting false insurance applications to maximise Permanent banning from providing financial 17-420MRASIC permanently bans directors of 17-420MR commenced pursuant to s13 ASIC Act or s247 commissions received. services Found Financial for dishonest and deceptive NCCP Act) conduct Formal investigation (an investigation 8/06/2016 Financial Advisers - Compliance & Wayne Meadth Failure of a financial adviser to be adequately trained or Subject banned from providing financial 16-188MR ASIC bans former ANZ financial 16-188MR commenced pursuant to s13 ASIC Act or s247 supervision competent to provide financial services. Failure to provide services for 1 year. adviser NCCP Act) written docuementation of recommendations to clients about their investment portfolio. Formal investigation (an investigation 26/07/2016 Financial Advisers - SMSF advice Craig Scott Miller Financial planner engaging in misleading conduct or conduct Subject banned from providing financial 16-239MR ASIC bans North Queensland 16-239MR commenced pursuant to s13 ASIC Act or s247 that was likely to mislead including, signing documents on services for 18 months. financial adviser NCCP Act) behalf of clients, making clients sign incomplete documents, altering documents after they had been signed by a client.

Formal investigation (an investigation 12/12/2016 Financial Advisers - Compliance & Andrew TambyRajah Misleading and deceptive conduct including creating false Subject banned from providing financial 16-433MR ASIC bans former ANZ Financial 16-433MR commenced pursuant to s13 ASIC Act or s247 supervision documents and falsely amending documents. services for 5 years. Planning adviser from financial services NCCP Act) Formal investigation (an investigation 23/08/2017 Financial Advisers - Insurance advice Neil Bruce Trower Failing to provide a Statement of Advice at the the time of Subject permanently banned from providing 17-277MRASIC permanently bans former 17-277MR commenced pursuant to s13 ASIC Act or s247 providing financial advice and forging client signatures on financial services. Queensland financial adviser NCCP Act) internal and external documents for the purpose of passing an internal compliance audit. Formal investigation (an investigation 10/10/2016 Financial Advisers - Other Troy Andrew Rodney Williams Financial adviser providing false statements in relation to his Subject permanently banned from providing 16-342MR ASIC permanently bans former 16-342MR commenced pursuant to s13 ASIC Act or s247 qualifications to clients and submitting false certificates financial services. Tasmanian financial adviser NCCP Act) evidencing his qualifications to his employer.

Formal investigation (an investigation 3/11/2010 Financial Advisers - Remediation Commonwealth Financial Planning Limited Inappropriate financial advice (Commonwealth Financial Negotiated Outcome. Implementation of a 10-226AD CBA subsidiary responds to ASIC 10-226AD commenced pursuant to s13 ASIC Act or s247 Planning) major client compensation program following concerns over former financial adviser NCCP Act) an ASIC investigation. Independent expert to review the implementation of the program and the compensation offers. ASIC to monitor the progress and outcomes of the program on a monthly basis.

Formal investigation (an investigation 26/10/2011 Financial Advisers - Remediation Commonwealth Financial Planning Limited Insufficient risk management framework and failure to Enforceable Undertaking - CFP to undertake a 11–229MR ASIC accepts enforceable 11–229MR commenced pursuant to s13 ASIC Act or s247 properly monitor and supervise CFP representatives. comprehensive review of its risk undertaking from Commonwealth Financial NCCP Act) management framework and legal and Planning regulatory obligations regarding the provision of financial services, financial advice and the monitoring and supervision of its representatives. CFP will also develop a plan to address unresolved deficiencies. Plan will be subject to review and ongoing reporting by an independent expert to ASIC over a 2 year period.

Formal investigation (an investigation 10/03/2011 Financial Advisers - Bank advice Don Nguyen Inappropriate financial advice (Commonwealth Financial Subject banned from providing financial 11-42AD Clients of Commonwealth Financial 11-42AD commenced pursuant to s13 ASIC Act or s247 Planning) services for 7 years. Planning compensated and ASIC bans former NCCP Act) financial adviser for seven years

Formal investigation (an investigation 10/01/2012 Financial Advisers - Bank advice Simon Langton Failure to meet various obligations as a financial adviser Enforceable Undertaking - subject has agreed 12-02AD ASIC accepts enforceable 12-02AD commenced pursuant to s13 ASIC Act or s247 (Commonwealth Financial Planning) not to provide financial services in any undertaking from former Commonwealth NCCP Act) capacity for a minimum of 2 years and Financial Planning adviser undertake appropriate professional education requirements. Subject must adhere to strict supervision requirements for 12 months upon re-entry to the financial services industry. RCD.0015.0003.0280

Public Results & Reports

Formal investigation (an investigation 4/06/2012 Financial Advisers - Bank advice Joe Chan Failure to meet various obligations as a financial adviser Enforceable Undertaking - subject has agreed 12-111MR ASIC accepts enforceable 12-111MR commenced pursuant to s13 ASIC Act or s247 (Commonwealth Financial Planning) not to provide financial services in any undertaking from former Commonwealth NCCP Act) capacity for a minimum of 2 years. Subject Financial Planning adviser must adhere to strict supervision requirements for 6 months upon re-entry to the financial services industry.

Formal investigation (an investigation 4/04/2012 Financial Advisers - Bank advice Christopher Baker Failure to meet various obligations as a financial adviser Enforceable Undertaking - subject has agreed 12-63AD ASIC accepts enforceable 12-63AD commenced pursuant to s13 ASIC Act or s247 (Commonwealth Financial Planning) not to provide financial services in any undertaking from former COMMONWEALTH NCCP Act) capacity for a minimum of 5 years and Financial Planning adviser undertake appropriate professional education requirements. Subject must adhere to strict supervision requirements for 6 months upon re-entry to the financial services industry. Formal investigation (an investigation 30/04/2012 Financial Advisers - Bank advice Jane Duncan Failure to comply with the fundamental duties and obligations Subject banned from providing financial 12-80MR Former Commonwealth Financial 12-80MR commenced pursuant to s13 ASIC Act or s247 under the Corporations Act when providing financial product services for 3 years. Planning Limited adviser banned for three NCCP Act) advice. years Formal investigation (an investigation 30/04/2012 Financial Advisers - Bank advice Anthony Awkar Failure to comply with the financial services laws including Subject permanently banned from providing 12-81MR ASIC permanently bans former 12-81MR commenced pursuant to s13 ASIC Act or s247 forging client signatures, making false statements about financial services. Commonwealth Financial Planning adviser NCCP Act) expected returns that were likely to induce persons to apply for financial products, failure to provide Statements of Advice and Product Disclosure Statements.

Formal investigation (an investigation 9/11/2012 Financial Advisers - Other Ricky Gillespie A former Commonwealth Financial Planning Limited financial Administrative action by ASIC - permanently 12-269MR ASIC bans former financial planner 12-269MR commenced pursuant to s13 ASIC Act or s247 planner forged client signatures and failed to comply with banned from providing financial services. for failing to comply with financial services NCCP Act) financial services laws. laws Formal investigation (an investigation 13/12/2017 Financial Advisers - Other Ricky Gillespie A former Commonwealth Financial Planning Limited financial Sentenced in the Magistrates Court for the 17-431MRFormer CBA financial planner 17-431MR commenced pursuant to s13 ASIC Act or s247 planner forged client signatures and failed to comply with forgery of client documents - fined $3,000, sentenced NCCP Act) financial services laws. with no conviction recorded. Formal investigation (an investigation 7/10/2015 Financial Advisers - Other Stuart Jamieson A former Commonwealth Financial Planning Limited financial Administrative action by ASIC - banned from 15-288MR ASIC bans former Commonwealth 15-288MR commenced pursuant to s13 ASIC Act or s247 planner failed to provide a Statement of Advice within the providing financial services for five years. Financial Planning adviser NCCP Act) required timeframe on more than 500 occasions, despite warnings from CFPL. Also engaged in misleading and deceptive conduct by not disclosing his previous employment with CFPL and their investigation into him

Formal investigation (an investigation 31/03/2015 Financial Advisers - Bank advice Rebecca Locksley A former Commonwealth Financial Planning Limited employee Administrative action by ASIC - banned from 15-070MRASIC bans Commonwealth 15-070MR commenced pursuant to s13 ASIC Act or s247 engaged in misleading and deceptive conduct - prepared file providing financial services for 18 months. Financial Planning employee NCCP Act) notes containing fictional conversations , prepared and backdated around 40 other documents, including records of advice, to give the impression they had been prepared properly. Formal investigation (an investigation 18/04/2013 Market participant & OTC issuers - Jia Yao Mathew Tan Acquired 10,000 contracts for difference in Macarthur Coal Sentenced to 200 hours of community 13-083MR Former director sentenced for 13-083MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks Limited on 8 July 2011 while in possession of inside service and fined $40,000 on an insider insider trading NCCP Act) information. trading charge. Formal investigation (an investigation 4/04/2014 Financial Advisers - Bank advice Jade Zaice A former Commonwealth Financial Planning Limited financial Administrative action by ASIC - banned from 14-068MR ASIC bans former Commonwealth 14-068MR commenced pursuant to s13 ASIC Act or s247 planner engaged in misleading and deceptive conduct by providing financial services for 7 years. Financial Planning adviser from financial NCCP Act) • conducting unauthorised transactions on several client services and credit activities accounts • including false information in three documents for the purpose of recording client instructions that were not in fact given, and • backdating four records of advice contained on client files.

Formal investigation (an investigation 10/12/2013 Misconduct in OTC markets David Thien Anh Luong Insider trading - possessing important information concerning Convicted and fined $30,000 and agreed to a 13-333MR Third man convicted in insider 13-333MR commenced pursuant to s13 ASIC Act or s247 a takeover, a former analyst purchased shares and contracts pecuniary penalty order under the Proceeds trading investigation NCCP Act) for difference. of Crime Act, in the amount of $15,002.94 after pleading guilty to one count of insider trading. RCD.0015.0003.0281

Public Results & Reports

Formal investigation (an investigation 18/12/2017 Insurance - Sales practices CommInsure Misleading and deceptive statements are likely to have been CommInsure will pay $300,000 towards a 17-443MRCommInsure pays $300,000 17-443MR commenced pursuant to s13 ASIC Act or s247 made on some of CommInsure's websites about the extent to consumer advice service and have its following ASIC concerns over misleading life NCCP Act) which customers would be entitled to cover for trauma if they advertising sign-off processes independently insurance advertising suffered a heart attack. reviewed. The review will look at whether CommInsure's processes and procedures ensure compliance with the ASIC Act, and make recommendations to improve compliance if required.

Formal investigation (an investigation 22/02/2017 Market participant & OTC issuers - All Shun Yuen Ken Li Pleaded guilty to two counts of dishonestly using his position Sentenced to a community service order of 17-040MR Sydney man sentenced to 350 17-040MR commenced pursuant to s13 ASIC Act or s247 as an employee with the intention to gain an advantage for 350 hours. hours community service after pleading guilty NCCP Act) two clients. to dishonest use of his position Formal investigation (an investigation 6/06/2017 Market participant & OTC issuers - All Shun Yuen Ken Li Convicted of two counts of dishonestly using his position as an Permanently banned from providing financial 17-170MR ASIC permanently bans Sydney 17-170MR commenced pursuant to s13 ASIC Act or s247 employee of GAIN Capital Australia Pty Ltd (GAIN Capital) with services man from providing financial services NCCP Act) the intention of gaining an advantage for two clients, contrary to section 184(2)(a) of the Corporations Act 2001.

Formal investigation (an investigation 5/12/2012 Market participant & OTC issuers - All Elisa Rietbergen Insider trading - tipping of inside information concerning the Sentenced to 18 months imprisonment, to be 12-305MR Former investment bank employee 12-305MR commenced pursuant to s13 ASIC Act or s247 acquisition of Valad Property Group Limited by affiliates of the released immediately on her own and friend sentenced for insider trading NCCP Act) Blackstone Group L.P. announced on the Australian Securities recognizance in the sum of $1,000, to be of Exchange good behaviour for two years for engaging in an insider trading scheme that netted over $24,000. Formal investigation (an investigation 6/10/2015 Financial Advisers - Bank advice Sharnie Kent Sharnie kent contavened financial services laws by Finacial Services banning - 8 years 15-286MR ASIC bans former Commonwealth 15-286MR commenced pursuant to s13 ASIC Act or s247 Financial Planning adviser for eight years NCCP Act) • not providing a statement of advice to a client before providing a further financial service; • submitting insurance applications and alteration requests that contained incorrect information amounting to conduct likely to mislead and deceive; • writing purported signatures of clients on insurance alteration requests and superannuation withdrawal forms amounting to conduct likely to mislead and deceive; • advising a share brokerage fee that was not properly payable by the client amounting to conduct likely to mislead and deceive; and • charging an excessive adviser fee, represented that the fee would be refunded and did not take timely steps to refund the free amounting to unconscionable conduct.

Formal investigation (an investigation 29/01/2013 Financial Advisers - Bank advice Macquarie Equities Limited Macquarie failed to address recurring compliance deficiencies ASIC accepted an EU from Macquarie which 13-010MR ASIC accepts enforceable 13-010MR commenced pursuant to s13 ASIC Act or s247 that involved a significant number of its advisers. including a review of its licence risk, undertaking from Macquarie Equities Ltd NCCP Act) operating model and systems and its legal and regulatory obligations. Formal investigation (an investigation 6/08/2015 Financial Advisers - Bank advice Hickman Shawn Engaged in unauthorised discretionary trading on his clients' Administrative action by ASIC - banned from 15-213MR ASIC bans former representative of 15-213MR commenced pursuant to s13 ASIC Act or s247 accounts and created false records. providing financial services for 6 years. Macquarie Equities Limited NCCP Act) Formal investigation (an investigation 25/05/2015 Financial Advisers - Bank advice Brett O'Malley Engaged in unauthorised discretionary trading on his clients' Administrative action by ASIC - banned from 15-121MR ASIC bans former representative of 15-121MR commenced pursuant to s13 ASIC Act or s247 accounts and created false records. providing financial services for 5 years. Macquarie Equities Limited NCCP Act) Formal investigation (an investigation 18/01/2016 Financial Advisers - Other Ben Rickman A Macquarie Equities employee gave advice to his clients Administrative action by ASIC - banned from 16-006MR ASIC bans former representative of 16-006MR commenced pursuant to s13 ASIC Act or s247 which involved the drafting of legal documents such as wills, providing financial services for 3 years. Macquarie Equities Limited NCCP Act) and the giving of legal advice about those documents - he had no legal qualifications despite representing he was a solicitor. RCD.0015.0003.0282

Public Results & Reports

Formal investigation (an investigation 22/12/2015 Misconduct in OTC markets Philip King, Regal Funds Management Pty Ltd Defendant sold approximately 4 million shares after receiving Mr King and Regal have also agreed under 15406MRASIC accepts EUs from Institutional 15-406MR commenced pursuant to s13 ASIC Act or s247 information that ASIC belived he, knew, or ought reasonably the EUs to implement training and Stockbroker and Hedge Fund Trader for NCCP Act) to have known, that the information he received was, or may compliance measures, including the concerns about misuse of confidential client have been, confidential. appointment of an independent compliance information expert to review Regal's policies and procedures and for the review of trades conducted by Mr King and other Regal staff.

Will also make a voluntary contribution of $80,000 to Financial Literacy Australia Limited

Formal investigation (an investigation 20/09/2016 Financial Advisers - Insurance advice Damian O'Rourke Failure to provide appropriate advice, failure to provide Subject permanently banned from providing 16-318MRASIC permanently bans former 16-318MR commenced pursuant to s13 ASIC Act or s247 Statements of Advice, borrowing significant sums of money financial services. AMP financial planner Damian O'Rourke NCCP Act) from clients, most of which were not repaid. Formal investigation (an investigation 24/08/2016 Financial Advisers - Other Sarah Gardner Ms Gardner was involved in the creation of a falsely executed Administrative action by ASIC - banned from 16-269MR ASIC bans former Macquarie 16-269MR commenced pursuant to s13 ASIC Act or s247 and backdated client authority form, and lied to Macquarie providing financial services for 1 year. adviser Sarah Kate Gardner NCCP Act) about the validity of this document. Formal investigation (an investigation 24/08/2016 Financial Advisers - Other Anthony Sourris Mr Sourris was involved in the creation of a falsely signed and Administrative action by ASIC - banned from 16-270MR ASIC bans former Macquarie 16-270MR commenced pursuant to s13 ASIC Act or s247 backdated client authority form, and lied to Macquarie about providing financial services for 2.5 years. adviser Anthony Jason Sourris NCCP Act) the validity of this document. Formal investigation (an investigation 17/08/2016 Funds management - Other Nicholas Kerr Engaged in unauthorised discretionary trading on his client Administrative action by ASIC - banned from 16-260MR ASIC bans former representative of 16-260MR commenced pursuant to s13 ASIC Act or s247 accounts, provided inappropriate advice and created false providing financial services for 5 years. Macquarie Equities Limited NCCP Act) records. Formal investigation (an investigation 23/03/2017 Funds management - Other WILSON ANTHONY A former representative of Macquarie's advice did not appear ASIC accepted an EU, which included 17-080MR ASIC accepts enforceable 17-080MR commenced pursuant to s13 ASIC Act or s247 to meet the standards required of a financial adviser and failed undertaking not to provide financial services undertaking from former Macquarie Equities NCCP Act) to comply with financial services laws. for 4 years. Limited adviser

Formal investigation (an investigation 26/04/2016 Financial Advisers - Other Hardik Bhimani Misappropriated advice fees owed to his employer, charged Administrative action by ASIC - permanently 16-124MR ASIC permanently bans former 16-124MR commenced pursuant to s13 ASIC Act or s247 his clients excessive fees, and failed to provide a client with banned from providing financial services. NAB financial planner NCCP Act) statements of advice. Formal investigation (an investigation 3/03/2016 Financial Advisers - Bank advice Gerard McCormack Engaged in misleading and deceptive conduct by Administrative action by ASIC - banned from 16-059MR ASIC bans former NAB adviser for 16-059MR commenced pursuant to s13 ASIC Act or s247 • falsely representing that he was a member of the super fund providing financial services for 5 years. five years NCCP Act) in order to obtain information on that fund member's account when not authorised to do so; • witnessing his client phone and falsely represent he was the same member of the super fund to gain further personal super account information about, as it transpired, a third party; and • assisted his client complete and lodge false withdrawal forms, using the information previously obtained relating to that member's super account, so that all funds were improperly transferred to his client.

Formal investigation (an investigation 16/09/2015 Financial Advisers - Other Alfie Chong A finanical adviser provided inappropriate advice, failed to Administrative action by ASIC - banned from 15-259MR ASIC bans former Meritum 15-259MR commenced pursuant to s13 ASIC Act or s247 determine clients' relevant personal circumstances or failed to providing financial services for 5 years. Financial Group adviser NCCP Act) conduct reasonable investigations into the subject matter of his advice. He also engaged in misleading or deceptive conduct in relation to a client signature. Further, he provided personal advice without giving clients a SoA, failed to provide sufficient detail about the basis on which the advice was given and arranged for clients to implement advice and transactions before providing clients with an SOA.

Formal investigation (an investigation 1/06/2017 Financial Advisers - Bank advice Patrick Mitchell Misappropriating a total of $2,354,497 from a client of his Administrative action by ASIC - permanently 17-167MR ASIC permanently bans Tasmanian 17-167MR commenced pursuant to s13 ASIC Act or s247 financial services practice to fund an extravagant lifestyle. banned from providing financial services man from providing financial services NCCP Act) after being convicted of stealing.

Formal investigation (an investigation 4/02/2016 Financial Advisers - Bank advice Shane Andrew Thompson Contravened financial services laws, not a fit and proper Administrative action by ASIC - banned from 16-022MR ASIC bans former NAB bank 16-022MR commenced pursuant to s13 ASIC Act or s247 person to also engage in credit activities. providing financial services for 7 years. adviser for seven years NCCP Act) Formal investigation (an investigation 27/10/2017 Financial Advisers - Bank advice Shane Andrew Thompson Completed 22 false 'Change of Adviser' forms and submitted Convicted on two charges that he forged and 17-362MRFormer NAB adviser sentenced for 17-362MR commenced pursuant to s13 ASIC Act or s247 them to MLC Ltd in order to transfer NAB clients to his submitted financial planning documents for forging documents NCCP Act) personal financial planning client list, without client his own personal gain. knowledge or consent for additional remuneration. RCD.0015.0003.0283

Public Results & Reports

Formal investigation (an investigation 13/08/2015 Financial Advisers - Insurance advice Martin Hodgetts Submitted false insurance policy proposals to the bank in Administrative action by ASIC - permanently 15-218MR Former Westpac financial planner 15-218MR commenced pursuant to s13 ASIC Act or s247 order to obtain benefits for himself. Further, Mr Hodgetts banned from providing financial services. permanently banned NCCP Act) used the bank’s internal software system to dishonestly alter certain details of two of the false policies after they were submitted in order to avoid detection.

Formal investigation (an investigation 26/09/2016 Financial Advisers - Insurance advice Micahel Mahoney Engaged in conduct that was misleading and deceptive. Administrative action by ASIC - banned from 16-323MR ASIC bans former Westpac 16-323MR commenced pursuant to s13 ASIC Act or s247 Specifically, entered false information regarding various providing financial services for 4 years. financial adviser NCCP Act) clients' health or health-risk factors in telephone applications for insurance policies issued by Westpac Life Insurance Services. Formal investigation (an investigation 15/10/2015 Financial Advisers - Bank advice Amanda Ritchie Falsely created documents, engaged in misleading and Administrative action by ASIC - permanently 15-294MR ASIC permanently bans former 15-294MR commenced pursuant to s13 ASIC Act or s247 deceptive conduct and transferred funds from clients' banned from providing financial services. Magnitude Group adviser NCCP Act) accounts without authorisation. Formal investigation (an investigation 8/06/2017 Financial Advisers - Bank advice Sudhir Sinha Mr Sinha, a Westpac employee, systematically failed to meet Administrative action by ASIC - banned from 17-178MRASIC bans former Westpac adviser 17-178MR commenced pursuant to s13 ASIC Act or s247 his ongoing advice service obligations over a period of six providing financial services for 5 years. for five years NCCP Act) years while he was employed by Westpac. This included a failure to conduct ongoing reviews for at least nine clients. The clients had paid for ongoing advice services and were entitled to receive these reviews.

Formal investigation (an investigation 11/07/2013 Credit - Credit intermediaries Mathew Schmelzkopf A finance broker falsified documents to support the loan Administrative action by ASIC - banned from 13-170MR ASIC bans Perth finance broker for 13-170MR commenced pursuant to s13 ASIC Act or s247 applications of his clients. ASIC believed that Mr Schmelzkopf engaging in credit activities for 3 years. falsifying documents NCCP Act) may not be a fit and proper person to engage in credit activities. Formal investigation (an investigation 18/11/2014 Market participant & OTC issuers - All YoutradeFX YoutradeFX is not regulated by ASIC, nor is it licensed to trade ASIC cautions Australian investors dealing 14-306MR ASIC issues warning about 14-306MR commenced pursuant to s13 ASIC Act or s247 in margin FX in Australia, as has been stated by several with YoutradeFX for trading in margin foreign unlicensed FX dealer YoutradeFX NCCP Act) websites that review and comment upon FX trading. exchange.

Formal investigation (an investigation 12/04/2012 Financial Advisers - Other Your Trading Room Pty Ltd ASIC enquiries revealed that Your Trading Room Pty Ltd has no Supreme Court appointed provisional 12-68AD Provisional liquidators appointed to 12-68AD commenced pursuant to s13 ASIC Act or s247 director and had vacated its Australian business premises in liquidators to YTR as requested by ASIC. Your Trading Room Pty Ltd NCCP Act) Brisbane. Formal investigation (an investigation 24/09/2015 Financial Advisers - Insurance advice Lucas Zelka A life insurance financial advier's advice relating to the Administrative action by ASIC - banned from 15-269MR ASIC bans life insurance financial 15-269MR commenced pursuant to s13 ASIC Act or s247 replacement of personal insurances did not meet the providing financial services for 3 years. adviser NCCP Act) standards expected of a financial adviser and he had failed to comply with financial services laws. Formal investigation (an investigation 22/12/2015 Market participant & OTC issuers - UBS AG and UBS Securities ASIC was concerned that UBS Securities’ control framework UBS Securities is undertaking remedial steps ASIC finalises its enquiries into UBS Securities 15-405MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks relating to its research function, and its compliance with that to improve its control framework relating to research function NCCP Act) framework, at the relevant times was not adequate for an its research function. These include the investment bank of UBS’s size and complexity. following changes in structure, policies, procedures and training.

Formal investigation (an investigation 19/07/2013 Financial Advisers - SMSF advice Sherwin Group The companies of which Bradley Sherwin was a Director, had Obtained various interim orders in the 13-185MR ASIC extends freezing orders in 13-185MR commenced pursuant to s13 ASIC Act or s247 contravened or were knowingly aiding contraventions of the Federal Court of Australia restraining the Wickham Securities Ltd collapse NCCP Act) Corporations Act and the ASIC Act by Sherwin and his transfer of assets. companies with respect to Sherwin's financial services clients' SMSF accounts by issuing securities without a disclosure document, breaching financial services obligations and making false and misleading statements with respect to financial products. RCD.0015.0003.0284

Public Results & Reports

Formal investigation (an investigation 30/09/2015 Deposit takers - Deposit products Bank of Queensland, DDH Graham Ltd An investigation was commenced into the Sherwin Group of ASIC undertook a lengthy investigation in 150276MR ASIC writes to Sherwin Group 15-276MR commenced pursuant to s13 ASIC Act or s247 companies (including Sherwin Financial Planners Pty Ltd relation to BOQ and DDH's past/current clinets about Bank of Queensland and DDH NCCP Act) ("SFP")) and the activities of the directors of those companies management of the MMDA accounts. Wrote Graham Limited investigation Bradley Sherwin on 9 January 2013 (the investigation). As a to former Sherwin clients in relation to the result of receving Information and documents during the investigation and a class action is proceeding course of the investigation, ASIC became concerned about the in the Federal Court. processing of transactions on Money Market Deposit Accounts that were held by the clients of the Sherwin companies with the BOQ. The accounts were managed by GOQ's agent, DDH. ASIC was concerned that BOQ and/or DDH were in breach of s.912A by failing to provide financial servies efficiently, honestly and fairly, failing to have adequate risk management systems in place and/or failing to take reasonable steps to ensure that its representatives complied with the financial services laws.

Formal investigation (an investigation 8/02/2011 Financial Advisers - Other Guardian Wealth Guardian Wealth's website www.guardianwealthcreation.com ASIC's investigation has disclosed that the 11- 21ADASIC action closes websites and 11-21AD commenced pursuant to s13 ASIC Act or s247 contains a number of false and misleading statements webhost of www.guardianwealthcreation is firms behind them NCCP Act) including a claim it is based in Sydney and registered and based in the United States. ASIC is presently regulated by the ASX. Further, it misrepresents itself as an working with US regulators to have the Australian company and quotes the Australian Financial website closed down. Services Licence number of a legitimate organisation with no association with Guardian Wealth.

Formal investigation (an investigation 24/06/2014 Funds management - Superannuation Industry Fund Services Ltd/Industry Super ASIC was concerned that consumers may be misled by Industry Super Australia will ensure that 14-138MRIndustry Super Australia agrees to 14-138MR commenced pursuant to s13 ASIC Act or s247 Australia Pty Ltd - 'Compare the Pair' advertsing future versions of the campaign change comparative advertising NCCP Act) • clarify the terms ‘Average Retail Super Fund’ and ‘Average Industry Super Fund’ by providing details about the samples used in the comparison, including the number of retail and industry funds in the samples, and • include a voiceover clarifying that past performance is not a reliable indicator of future performance.

Formal investigation (an investigation 6/07/2017 Financial Advisers - Other Skyllex Pty Ltd ASIC is concerned that Skyllex’s website contains false, ASIC is warning the public not to use a 17-225MRASIC warns investors not to engage 17-225MR commenced pursuant to s13 ASIC Act or s247 misleading or deceptive statements in relation to financial website which promotes financial with ‘Skyllex’ NCCP Act) services. investments offered by 'Skyllex', a company incorporated in Australia. Surveillance 12/09/2008 Funds management - Responsible Wellington Investment Management Limited ASIC considers that unit holders require additional information ASIC commenced proceedings yesterday in AD08-09 Premium income fund AD08-09 Entities & schemes in order to make informed decisions at a proposed meeting of the Supreme Court of Queensland seeking to unit holders delay a meeting of unit holders in the old MFS Premium Income Fund (PIF). ASIC is seeking an order restraining Wellington Investment Management Limited (WIM) as the Responsible Entity of the Premium Income Fund from proceeding with a meeting of unit holders scheduled for 18 September 2008.

Surveillance 9/02/2010 Funds management - Responsible Tankstream Funds Management Limited Unsolicited offers made and Offer documents and PDS do not ASIC issued final stop orders on unsolicited 10-21AD ASIC issues final stop orders in 10-21AD Entities & schemes adequately disclose information required under the offers made by Tankstream Funds relation to unsolicited offers made to Corporations Act. EG Failed to identify Tankstream as the Management Limited (Tankstream) to investors in Centro MCS syndicates offeror, or clearly explain the nature of the Pelorus Property investors in 16 unlisted Centro MCS property Trust (PPT) investment. Not adequately explain Tankstream’s syndicates. Offers can still be made so long as basis for estimating the fair value of interests in the relevant the Offer document and PDS comply with Centro MCS syndicate or the value of interests in PPT. Further, relevant Acts. the PDS implied that interests in PPT would be able to be traded on the Australian Securities Exchange without complying with Corporations Act requirements designed to ensure that listing is promptly achieved. RCD.0015.0003.0285

Public Results & Reports

Surveillance 15/03/2010 Funds management - Responsible City Pacific Limited Investors in the City Pacific First Mortgage Fund (now known After speaking with the liquidators, ASIC 10-51ad-asic cancels city pacifics australian 10-51ad Entities & schemes as the Pacific First Mortgage Fund) voted to remove City cancelled City Pacific's AFS Licence subject to financial services licence Pacific as responsible entity of the Fund, and replace it with a specification that it continues to the extent Trilogy Funds Management Limited. Shortly afterwards, the necessary to enable City Pacific, under the Federal Court of Australia ordered the winding up of City control of the liquidators, to take steps to Pacific and the appointment of Andrew Wily and David Hurst wind up the City Pacific Income Fund. as joint liquidators. City Pacific remains the responsible entity of a smaller managed investment scheme known as the City Pacific Income Fund.

Surveillance 24/09/2010 Funds management - Responsible Opus Capital Limited Failure to rectify an ongoing breach of the NTA condition of its Refer to line 74. The Administrative Appeals 10-203AD AAT sets aside ASIC action against 10-203AD Entities & schemes licence to the ASIC's satisfaction. Also refer to line 74 Tribunal (AAT) has set aside a decision by the Opus Capital ASIC to cancel the Australian financial services (AFS) licence held by Opus Capital Limited (Opus). Opus is the responsible entity for 14 unlisted property funds.

Surveillance 13/10/2011 Funds management - Responsible Opus Capital Limited Breach by a responsible entity for 14 unlisted property funds Enforceable undertaking (EU). Under the EU 11-220MR ASIC accepts Opus Capital Limited 11-220MR Entities & schemes of a condition of its Australian financial services (AFS) licence. Opus has agreed to enforceable undertaking Also refer to line 21 •not rely on deferred tax assets or sale and performance fee assets for the purposes of meeting its Net Tangible Asset (NTA) conditions •classify these assets as intangible assets in all financial reports •not recognise the sale and performance fee that may arise on the sale of properties held by schemes managed by Opus as revenue except to the extent that a particular fee relates to an asset that has been sold, and •use an amortised cost of the sale and performance fee of zero rather than its fair value. NOTE Opus appealed ASIC's decision to the AAT who set aside ASIC's decision. ASIC then appealed to the High Court who set aside AAT's decision to set aside ASIC's decision

Surveillance 12/06/2012 Funds management - Other Michael Grochowski of Sovereign MF Limited. Failure to comply with financial services laws by failing to Banned from providing financial services for 12-125MR ASIC bans Melbourne man from 12-125MR •ensure all the assets of the Fund were properly identified and four years. providing financial services registered as assets of the Fund, resulting in the loss of property assets of the Fund; •remedy defective disclosure documents for the Fund, such that the documents did not contain information about a material change to circumstances affecting property assets of the Fund; •provide members of the Fund with timely ongoing disclosure about material changes to circumstances affecting property assets of the Fund; and •lodge annual financial reports for Sovereign and the Fund.

Surveillance 16/08/2012 Funds management - Responsible Lion Advantage Limited & David Hickie Breaches are in relation to the failure to have adequate AFSL cancelled and David Hickie banned from 12-199mr-asic cancels licence of lion 12-199MR Entities & schemes professional indemnity insurance in place, lodge audited providing financial services for two years. advantage and bans CEO fianancial reports on time, hold membership with an external dispute resolution scheme approved by ASIC , to notify ASIC of signficant events and failure to not have compliance measures in place Surveillance 1/07/2013 Funds management - Responsible BT Financial Group (BT Wrap & BT SuperWrap) Consumers of BT Wrap and SuperWrap products were charged BT refunded over charged customers. 13-159MR BT to refund customers after 13-159MR Entities & schemes adviser service fees in excess of the disclosed percentage review of fees disclosed and charged ranges. RCD.0015.0003.0286

Public Results & Reports

Surveillance 30/07/2013 Funds management - Responsible Australian Public Trustees Limited ASIC surveillance found that APT failed to comply with the ASIC has cancelled the Australian financial 13-194MR ASIC cancels licence of Australian 13-194MR Entities & schemes financial conditions of its licence, and lodge audited financial services (AFS) licence of Australian Public Public Trustees Limited reports on time for APT and the schemes it operated. Trustees Limited (APT) after it was found they had breached a number of the financial, reporting and other obligations of a financial services licensee.

Surveillance 2/09/2013 Funds management - Responsible Trilogy Funds Management Limited Trilogy Funds Management Limited is the responsible entity of ASIC has placed interim stop orders on the 13-242MR ASIC issues interim stop orders on 13-242MR Entities & schemes Trilogy Monthly Income Fund and Trilogy Melbourne Office product disclosure statements and associated Trilogy Funds Management Limited schemes Syndicate – Cheltenham. ASICs concerns relate to advertising for Trilogy Monthly Income Fund •use of headline rates of return and Trilogy Melbourne Office Syndicate – •comparisons of the schemes to other financial products Cheltenham. without appropriate disclosure •failure to address benchmark disclosures or meet disclosure principle information standards •use of ratings statements without adequate details about the meaning of the rating or where investors could obtain further details of the rating, and •clear concise and effective disclosure of structure and nature of product offered.

Surveillance 28/04/2014 Funds management - Other Banksia Mortgages Limited Banksia Mortgages one of four subsidiaries of the Victoria- ASIC cancelled Banksia Mortgages' AFS 14-087MR ASIC cancels Banksia's AFS licence 14-087MR based Banksia Financial Group, which collapsed in 2012. In licence. August 2013, the Supreme Court of Victoria made orders authorising Banksia Mortgages to wind up the Banksia Mortgage Fund on the basis that it was just and equitable to do so. Surveillance 2/05/2014 Funds management - Responsible NAB Wealth System error during 2006 and 2012, resulting in some In 2012, compensation to the value of $1.9 14-093MR NAB Wealth to refund customers 14-093MR Entities & schemes customers having incorrect income allocated to their account. million was paid to approximately 43,000 after review of system error In 2012, about $1.9m has been paid to about 43,000 customers. customers in compensation. At ASIC's request, NAB appointed PWC to review the issues noted under Actions or Outcome NAB Wealth has subsequently completed a (column I) review of this matter and identified the need to pay a smaller amount of additional compensation to impacted customers.

At ASIC's request, NAB Wealth also appointed Pricewaterhouse Coopers, to review

•The adequacy of compensation already paid and the process adopted to identify customers potentially impacted. •NAB Wealth's relevant operating system and its capability for correctly allocating income to customers as well as their commitment to strengthening these controls. •NAB Wealth's breach identification, reporting and management processes. RCD.0015.0003.0287

Public Results & Reports

Surveillance 25/09/2014 Funds management - Responsible C&F Nominees Mortgage Securities Limited ASIC was concerned that C&F did not have adequate Additional conditions imposed on C&F's AFS 14-251MR ASIC imposes additional AFS 14-251MR Entities & schemes arrangements in place to ensure it was complying with its licence. licence conditions on mortgage scheme general obligations as an AFS licensee relating to, among other operator things ASIC varied the AFS licence for C&F to include •conditions of its AFS licence conditions requiring the appointment of an •breach reporting obligations independent compliance consultant and for •dispute resolution C&F to review, assess and report on the •risk management systems, adequacy of the procedures on all aspects of •and disclosure obligations. the its arrangements for compliance with its general AFS licensee obligations.

The independent expert to also provide recommendations about changes needed to improve C&F's compliance with its obligations and guide it in implementing a compliance framework that is of the required standard.

Surveillance 13/03/2015 Funds management - Responsible Dunfo Capital Pty Ltd (formerly GSM Financial ASIC was concerned that Dunfo Capital ASIC suspended the Australian Financial 15-055MR ASIC suspends licence of wholesale 15-055MR Entities & schemes Group Pty Ltd) •failed to lodge financial statements and auditor report for the Services (AFS) Licence of Dunfo Capital Pty service provider financial year ended 30 June 2014 within the required Ltd until 31 August 2015. timeframe •failed to meet its Net Tangible Assets requirements •failed to maintain the competence to provide financial services •failed to comply with the key person condition on its AFS Licence •did not advise ASIC of the above breaches within 10 business days

Surveillance 17/06/2015 Funds management - Responsible Macquarie Investment Management Limited System errors occurred between 2001 and 2014, on a number In discussion with ASIC, Macquarie appointed 15-150MR Macquarie Investment 15-150MR Entities & schemes of products using the Macquarie Wrap Platform. Deloitte as an independent third party Management to refund clients after review of consultant to assess the controls and system errors The system errors included processes around Macquarie’s remediation •failing to apply sufficient tax credits to the GST portion of and compensation arrangements to ensure client fees that •charging administration fees which exceeded the maximum •all affected clients are identified and disclosed in the product offering documents. appropriately compensated . *Admin fee issues in the offering document •Macquarie's controls and processesare adequate to prevent a similar error occurring in future.

Deloitte’s review identified a third error, relating to the administration fee in an offering document.

All three errors were rectified and Macquarie to commence compensation (including all interest due) to clients from 17 June 2015 onwards. Clients who exited affected products more than 12 months ago to be contacted by Macquarie to discuss refund arrangements.

Surveillance 24/07/2015 Funds management - Responsible NAB Wealth System issues led to incorrect tax estimation and income NAB Wealth announced the resolution of its 15-194MR NAB Wealth refunds additional 15-194MR Entities & schemes estimation on the Navigator Wrap platform leading to compensation program due to issues with its customers following ASIC action member detriment Navigator Wrap platform, with $25 million in compensation to be paid to approximately 62,000 customers. RCD.0015.0003.0288

Public Results & Reports

Surveillance 5/08/2015 Funds management - Responsible Ausbil Investment Management Limited An overcharging of fees of approximately $18m occurred Ausbil completed the payment of 15-208MR Ausbil to pay $18 million in 15-208MR Entities & schemes between December 2004 and January 2014 due to an compensation to direct investors and at the compensation to investors inconsistency between the fees outlined in the Fund's Product time of the media release was in the process Disclosure Statement and the fees permitted under the Fund's of assisting platforms to make payment to constitution. their underlying clients impacted by the fee error. Surveillance 29/09/2015 Funds management - Responsible Dunfo Capital Pty Ltd (now known as Eagle Dunfo Capital had its licences suspended after it failed to ASIC initially suspended the AFSL for 6 15-273MR ASIC cancels licence of wholesale 15-273MR Entities & schemes Aetos Capital Pty Ltd) •failed to lodge financial statements and auditor report for the months so Dunfo Capital could address the service provider financial year ended 30 June 2014 within the required noted issues, however, ASIC suspended the timeframe licence as the issues were not addressed. •failed to meet its Net Tangible Assets requirements •failed to maintain the competence to provide financial services •failed to comply with the key person condition on its AFS Licence •did not advise ASIC of the above breaches within 10 business days

Surveillance 22/10/2015 Funds management - Responsible Narrow Lane Investments Pty Ltd ASIC cancelled the AFSL of Narrow Lane after it •Failed to ASIC originally cancelled the AFSL for 6 15-307MR ASIC cancels licence of wholesale 15-307MR Entities & schemes comply with the "key person" condition on its AFS licence - months to allow Narrow Lane to address service provider "key persons" will usually be named on the licence in a "key issues. However, Narrow Lane requested person" condition which imposes additional obligations on the ASIC to cancel its licence. ASIC cancelled the licensee; AFS licence effective 6 October 2015. •Did not have adequate financial and human resources; •Did not have the competence to provide the services covered by its AFS licence; and •Failed to provide breach notifications to ASIC relating to the above breaches.

Surveillance 1/06/2016 Funds management - Responsible TMK Index Limited (previously known as Fish TMK Index Limited failed to comply with a number of key Cancelled AFSL. 16-173MR ASIC cancels licence of AFS 16-173MR Entities & schemes Capital Securities Ltd) obligations, including requirements around the lodgment of wholesale service provider accounts, breach notifications, meeting Net Tangible Asset requirements and maintaining adequate, competent staffing arrangements. Surveillance 27/06/2016 Funds management - Responsible Kovacs Property Group Pty Ltd ASIC was concerned that Kovacs Property Group Pty Ltd's Kovacs paid a $10,800 penalty to comply with 16-203MR Kovacs Property Group pays 16-203MR Entities & schemes website emphasised the safety of the investment in terms of an ASIC infringement notice after producing penalty for misleading advertising the return of capital and sustainable quarterly returns without potentially misleading advertisements online. providing an explanation of the key risks involved in the investment. Surveillance 29/06/2016 Funds management - Responsible Ergo Capital Pty Ltd Ergo Capital Pty Ltd failed to comply with its obligations as a Cancelled AFSL. 16-208MR ASIC cancels licence of AFS 16-208MR Entities & schemes financial services licensee, including wholesale service provider •lodgement of its financial statements within the required timeframe; •financial resource requirements; •notifying ASIC of significant breaches within 10 days; and •maintaining the competence to provide financial services authorised under its AFS licence.

Surveillance 30/06/2016 Funds management - Responsible Macquarie Bank Limited Additional conditions were imposed by ASIC concerning Conditions imposed required an independent 16-211MR Macquarie Bank Limited - 16-211MR Entities & schemes multiple self-identified breaches of the client money expert approved by ASIC to review, assess conclusion of works undertaken by external provisions of the Corporations Act. Breaches included failing to and report on the adequacy of Macquarie's expert deposit monies into a designated client trust account, and application of procedures for ensuring making withdrawals that were not permitted from such an compliance with the client money account. requirements under the Act and make recommendations for improvements. Macquire complied with such conditions and following an independent report by KPMG, ASIC removed the additional conditions imposed. RCD.0015.0003.0289

Public Results & Reports

Inquiry 8/07/2016 Funds management - Responsible I.O.O.F. Holdings Limited and its subsidiaries ASIC commenced inquiries into allegations made against Concurrent with ASIC's inquiries, IOOF 16-221MR ASIC's inquiry into IOOF 16-221MR Entities & schemes (IOOF) I.O.O.F. Holdings Limited and its subsidiaries (IOOF), including appointed PricewaterhouseCoopers to issues raised by a former employee of IOOF. Some of the conduct an independent review of its allegations concerned an IOOF staff member's involvement in regulatory breach reporting policy and insider trading when they traded in securities prior to the procedures and the control environment release of IOOF research reports relating to those securities. within its research team. IOOF has made significant changes to their policies and procedures as a result. ASIC has now finalised its inquiries. Surveillance 4/08/2016 Funds management - Responsible Pacific Millennium International Investment Pacific Millennium International Investment Group Pty Ltd had Cancelled AFSL. 16-245MR ASIC cancels licence of Pacific 16-245MR Entities & schemes Group Pty Ltd (PMIIG) breached its licence obligations by failing to Millennium International Investment Group •maintain the competence to provide the financial services Pty Ltd covered by its AFS licence; •comply with the financial requirements of its AFS licence; •lodge financial reports and auditor's reports on time, or not at all; and •did not advise ASIC of the above breaches within 10 business days.

Surveillance 7/09/2016 Funds management - Superannuation ING Bank (Australia) Limited ASIC had concerns that statements made in ING Bank's ING Bank compensated around 24,500 16-296MR ING Bank compensates Living 16-296MR promotional material about the fees paid in connection with members approximately $5.38 million. Super customers due to potentially its Living Super product were potentially misleading. misleading costs and fees statements

Surveillance 4/10/2016 Funds management - Responsible Lotus Securities Ltd Lotus Securities failed to comply with a number of its key Cancelled AFSL. 16-337MR ASIC cancels AFS licence of Lotus 16-337MR Entities & schemes obligations as a financial services licensee, including Securities • lodging its financial reports within the required timeframe; • lodging compliance plan audits and financial reports for the managed investment schemes it operates within the required timeframe; • complying with its financial resource requirements; • complying with a Notice issued by ASIC; • maintaining membership with an external dispute resolution scheme approved by ASIC; and • notifying ASIC of significant breaches within 10 days.

Surveillance 6/12/2016 Funds management - Responsible ULTIQA Lifestyle Points Limited and ULTIQA Followed complaints received from consumers and other In response to ASIC's enquiries, ULTIQA 16-418MR Timeshare operator to revise 16-418MR Entities & schemes Lifestyle Promotions Limited (ULTIQA Group), regulatory agencies alleging misleading and deceptive Group has disclosure and sales practices following ASIC statements and unconscionable conduct by the ULTIQA Group 1. amended its PDSs to give additional surveillance (a timeshare operator), ASIC made extensive enquiries. prominence to cooling-off rights, bonus weeks and split weeks; 2. amended point-of-sale documents to ensure applicants are aware of their cooling- off rights; 3. modified its monitoring and supervision of sales agents' compliance with and adherence to ULTIQA Group's sales processes and procedures; 4. removed and clarified potentially misleading statements from the members' kit and agreed to monitor sales practices; and 5. revised sales processes and practices

Surveillance 17/01/2017 Funds management - Responsible Members Plan Pty Ltd (Memplans) ASIC raised concerns with Memplans that it was Memplans has cooperated fully with ASIC in 17-009MR ASIC closes self-funded health plan 17-009MR Entities & schemes •operating an unregistered managed investment scheme, addressing its concerns by which was required to be registered under the Corporations • ceasing to operate the scheme including Act; taking down the Memplans website; •engaging in activities which required it to hold an Australian • contacting all members and advising them Financial Services (AFS) licence, including dealing in financial of the cessation of the scheme and products and providing financial product advice, without requesting that they immediately cease holding an AFSL; and payments to Memplans until further notice; •issuing interests in a managed investment scheme to retail and clients, without providing appropriate disclosure in the form of • refunding the members' account balances a Product Disclosure Statement or Financial Services Guide. to them. RCD.0015.0003.0290

Public Results & Reports

Surveillance 2/02/2017 Funds management - Responsible NULIS Nominees (Australia) Limited (NULIS) The conditions were imposed on NULIS following ASIC's Additional licence conditions imposed on the 17-022MR ASIC imposes licence conditions on 17-022MR Entities & schemes enquiries into a breach reports lodged by NAB’s wealth Australian financial services (AFS) licence. NAB’s superannuation trustee entities. The breaches involved a breakdown in risk management and communication procedures following the transfer in 2012 and 2013 of all members in a number of products to MLC MasterKey Business Super (MKBS) and MLC MasterKey Personal Super (MKPS), as well as changes made to the death and total and permanent disablement (TPD) insurance of MKBS and MKPS members. Approximately 400,000 members were impacted by the insurance changes.

System breakdowns included •inadequate disclosure of insurance changes to members; •inadequate training for staff, and •insurance policies not being updated.

Surveillance 15/02/2017 Funds management - Responsible Sovereign MF Ltd Sovereign MF Ltd (in liquidation) ACN 104 964 555 (Sovereign) ASIC cancelled the Australian Financial 17-031 ASIC cancels AFS licence of Sovereign 17-031MR Entities & schemes is the responsible entity for The Sovereign Tarneit Land Fund Services (AFS) licence. MF Ltd (in liquidation) and The Sovereign Aged Care Property Fund (the Schemes). Sovereign was placed into liquidation on 24 May 2013 following a creditors' resolution on the basis that Sovereign was insolvent. The liquidators are currently engaged in the final stages of winding up the Schemes. The wind up has involved completing the residential development of the Westbourne Fields Estate in outer Melbourne and the realisation of all lots within the development.

Surveillance 12/04/2017 Funds management - Responsible DD&D Securities Ltd In particular, ASIC found that DD&D Securities failed to Cancelled the Australian financial services 17-113MR ASIC cancels AFS licence of 17-113MR Entities & schemes •maintain membership with an external dispute resolution (AFS) licence. responsible entity DD&D Securities scheme approved by ASIC; •lodge its financial reports within the required timeframe; •lodge compliance plan audits for the managed investment scheme it operates within the required timeframe; and •notify ASIC of significant breaches within the required timeframe.

Surveillance 28/04/2017 Funds management - Responsible Australia Wealth Capital Group Pty Ltd Failing to comply with a number of key obligations as a Suspended the Australian financial services 17-123MR ASIC suspends AFS licence of 17-123MR Entities & schemes financial services licensee, including (AFS) licence until 3 October 2017. Australia Wealth Capital Group •establishing and maintaining compliance measures to ensure, as far as reasonably practical, that the licensee complies with financial services laws; •lodging its financial reports within the required timeframe; •maintaining the competence to provide the financial service under its licence; and •notifying ASIC of significant breaches within 10 days.

Review 4/07/2017 Funds management - Superannuation Multiple entities - 21 ASIC undertook a review of 21 super trustees' compliance with ASIC requested the 21 trustee's to comply 17-222MR ASIC acts to improve transparency 17-222MR mandatory "transparency information (TI)" requirements on with s29QB of SIS Act. As a result, seven of super websites their websites. All 21 were found to be non-complying to trustees disclosed the required information, various degree. TI comprises remuneration, governance and five made it easier to find the information other information related to the fund; for example trustee and trustees of two small funds, who did not directors’ remuneration for the last two financial years, fund have websites, sought relief from TI trust deeds and product disclosure statements, a summary of obligations. Seven trustees transferred fund significant event notices sent to fund members in the last two members to another fund before winding up years and a summary of how the trustee voted in the last the fund. Two trustees also improved their financial year in relation to listed shares held by the fund. procedures for ensuring that TI is up to date.

Surveillance 7/07/2017 Funds management - Responsible National Australia Bank Group (NAB Group) An ASIC investigation of a number of advice licensees within Corrective disclosure made to customers 17-229MR NAB makes corrective disclosure 17-229MR Entities & schemes the National Australia Bank Group (NAB Group), for failing to to customers about relationships within its disclose relationships between advisers, advice licensees, and wealth management business other members of the NAB Group that issue investment products. RCD.0015.0003.0291

Public Results & Reports

Surveillance 10/08/2017 Funds management - Superannuation Australia and New Zealand Banking Group ASIC has been monitoring the resolution of a number of $10.5 million in compensation for 160,000 17-266MR ANZ pays further $10.5 million to 17-266MR (ANZ)(as parent of OnePath) OnePath breaches. This has resulted in ANZ (the parent superannuation customers. consumers for OnePath breach company of OnePath) providing further compensation, mainly in relation to incorrect processing of superannuation contributions and failure to deal with lost inactive member balances correctly. Surveillance 18/09/2017 Funds management - Responsible Theta Asset Management Ltd (Theta). The stop order was due to concerns about Product Disclosure ASIC issued a stop order on Product 17-316MR ASIC issues stop order on Theta 17-316MR Entities & schemes Statements for Sterling Income Trust (SIT) Inadequate Disclosure Statements issued by Theta Asset product disclosure statements disclosure of risks and conflicts of interests, omission of Management Ltd (Theta). material information about the investment, presentation of prospective information about target returns, and outdated and incorrect references. Surveillance 31/01/2008 Credit - Credit intermediaries United Financial Services (Qld) Pty Ltd (UFSQ) Responsible lending. ASIC examined approximately 200 Payment of $98,000 by United Financial 08-11 Finance broker pays $98,000 to support 08-11 personal loans arranged by UFSQ for Indigenous borrowers in Services (Qld) Pty Ltd (UFSQ) to the Indigenous communities in Far North Far North Queensland. The majority of these loans had been Indigenous Consumer Assistance Network Queensland arranged through banks between 2003 and 2005, and were (ICAN) in Cairns. used by borrowers to purchase second-hand vehicles. UFSQ made the payment as part of a package of solutions to resolve concerns raised by ASIC in relation to its finance broking business. Surveillance 27/03/2009 Deposit takers - Deposit products Westpac Banking Corporation Misleading advertising. The Westpac Choice account was Westpac decided to extend the promotiuon AD09-51 Westpac responds to concerns AD09-51 advertised as being free of monthly account keeping fees for of no monthly account keeping fees an regarding advertising customers depositing at least $2,000 per month. ongoing feature of the Choice account. It ASIC was concerned the advertisements created the also took a number of steps to ensure that its impression the removal of monthly service fees applied existing customers have not been misled, automatically to existing account holders, as well as new including writing to all of them. account holders when that was not the case.

Surveillance 9/11/2009 Credit - ADI lending National Australia Bank Unsolicited distribution of credit cards potentially in breach of NAB wrote to all of its Qantas Gold account 09-222AD NAB responds to ASIC’s concerns 09-222AD the Australian Securities and Investments Commission Act customers. They will either give customers regarding unsolicited companion credit card 2001 (Cth) (ASIC Act).ASIC was concerned because the who have already used the companion cards distribution distribution of American Express cards as a companion card to the choice not to retain the card (via an opt- an existing credit card already held by a customer was not out process) or give customers who have not made in response to a request in writing and not a card sent used the companion cards the opportunity to in renewal, replacement or substitution of an existing card. confirm that they wish to retain the card in writing (via an opt-in process), otherwise the companion card will be automatically deactivated.

Surveillance 1/12/2009 Insurance - Sales practices Citigroup Pty Ltd ASIC raised concerns with Citigroup Pty Ltd (‘Citi’) that some Citigroup implemented a number of changes 09-238AD Citigroup responds to ASIC 09-238AD telephone sales of consumer credit insurance products to the calling script for its telephone concerns about telephone sales between August 2008 and January 2009 may have been operators. misleading.Citi sold CCI to cardholders who had not agreed to Citigroup wrote to all customers (other than purchase it, using the word ‘activate’ when referring to the those who had already made a claim on their purchase of CCI and not the credit card activation. Citi also policies) who purchased the CCI while represented that the cost of CCI was free if the customer paid activating their card between August 2008 their bills which was not the case. Telephone operators for Citi and January 2009 to ensure that they were kept cardholders ‘captive’ on the telephone by persisting with aware that they purchased CCI, and that they the sale of CCI despite the cardholder saying ‘No’ more than were aware of its terms and conditions. Citi once –and on some occasions three or more times. also considered remediation to customers who were not aware they had purchased CCI.

Surveillance 10/08/2011 Credit - Other Shield Mercantile Pty Ltd ASIC has taken action over the debt collection practices of Shield Mercantile reviewed its compliance 11–165MR ASIC acts on Shield Mercantile 11–165MR Shield Mercantile Pty Ltd (Shield Mercantile) following system and processes and implemented a debt collection practices complaints from consumers about harassment. number of changes, including •a telephone call recording system Among the complaints were concerns regarding unduly •regular audits of debt collecting telephone frequent contact with debtors, contact with third parties, calls inappropriate and aggressive phonecalls and inadequate •improvement in the training of staff internal dispute resolution policies and procedures. •improvement in internal dispute resolution procedures, and •appointment of a Quality Assurance Manager, Compliance Manager and Group Coordinator. RCD.0015.0003.0292

Public Results & Reports

Surveillance 1/12/2011 Credit - ADI lending Westpac Banking Corporation ASIC was concerned that products – including margin loans, Westpac Banking Corporation (Westpac) 11-277MR Westpac reviews use of 'stress- 11-277MR exchange traded funds and self funding instalments – were agreed to cease using the phrase 'stress-free' free' in response to ASIC’s concerns being marketed in print media, online and within a brochure in its marketing of geared investment using the line ‘Stress-free strategies to accelerate your wealth strategies. – A guide to borrowing to invest in shares.’ASIC's concern is that there are risks involved in gearing to invest in shares which would make it unlikely that any such strategy would be 'stress-free'.

Surveillance 12/01/2012 Credit - ADI lending The Commonwealth Bank of Australia Misleading advertising. CBA’s home loan ads promoting its The Commonwealth Bank of Australia (CBA) 12–03MR CBA to change Wealth Package 12–03MR Wealth Package loans did not include the Wealth Package changed advertised comparison rates for its loan comparison rates $350 annual fee in the advertised comparison rate. Wealth Package loans to take into account the Wealth Package fee of $350 to more truly reflect the cost of the loan.

Surveillance 24/02/2012 Credit - ADI lending American Express Australia Limited Where a card holder had defaulted in making their minimum American Express Australia Limited changed 12–31MR American Express agrees to change 12–31MR monthly repayment three or more times over 12 months or on its approach to the charging of a higher credit card interest rate policy for defaulting one repayment for more than 3 months, AMEX’s policy was to ‘default’ rate of interest to credit card cardholders increase the interest rate on the whole balance. The increase customers who have defaulted in their in rates for affected customers was up to 6% for a 12-month payment obligations. As a result of the period. ASIC was concerned that this policy was potentially in changes the holders of those accounts conflict with the restrictions on the charging of default interest received a reduction in interest rate of up to under the National Credit Code. 6%.

Surveillance 11/04/2012 Insurance - Claims handling Elders Insurance Elders inadvertently underpaid customers when paying total Elders Insurance repaid customers 12-67AD Elders Insurance repays customers 12-67AD loss claims for market value insured motor vehicles – a approximately $5.3 million including $5.3 million following underpayment error problem going back over a number of years. interest. Elders had failed to include the stamp duty amounts when paying total loss market value claims. Surveillance 18/04/2012 Credit - ADI lending HSBC Misleading Advertising. The ads featured a headline claim that HSBC agreed to change the wording to more 12-73AD HSBC to change home loan 12-73AD consumers could receive ‘Up to 0.95% p.a. off a HSBC Home clearly disclose the discounts on offer. advertising Smart Loan’. The ads also stated that the minimum loan amount for the offer was $250,000. The campaign was widely promoted using online, print and outdoor advertising. Only loans of $1,500,000 or larger were eligible for the full 0.95% discount, with smaller loan amounts starting from $250,000 receiving smaller discounts. ASIC was concerned that as the loan amount that applied to the 0.95% discount was very large and was not prominently disclosed in the ad, consumers may be misled into believing they would receive a higher discount than what was actually available to them.

Surveillance 23/04/2012 Credit - Other Peter Barratt Pty Ltd Peter Barratt Pty Ltd, which has six BCC car yards across The company agreed to 12-76AD ASIC takes action on car finance 12-76AD Brisbane, promised ‘Guaranteed Finance’ via its website and •cease publication of any advertisement for advertising under credit legislation other promotional material. ASIC was concerned that this loan products containing the term claim was either ‘Guaranteed Finance’, and •misleading because the company did not in fact guarantee to •not include the term 'Guaranteed Finance' provide finance regardless of the customer’s financial in future advertising. circumstances, or •if the company did provide such a guarantee, that it was in breach of the responsible lending obligations under the National Consumer Credit Protection (NCCP) Act. RCD.0015.0003.0293

Public Results & Reports

Surveillance 24/04/2012 Credit - ADI lending Westpac Banking Corporation Between February 2012 and March 2012 via email, credit card Messages sent to its customers about credit 12-79MR Westpac withdraws unsolicited 12-79MR statements and its website, Westpac notified customers about card limit increases were withdrawn and credit card limit increase invitation in changes to the law regarding credit limit increase invitations modified by Westpac. response to ASICs concerns and requested that customers provide their consent to continue to receive credit limit increase invitations. Approximately 3700 customers provided their consent as a result of these messages.

ASIC formed the view that the messages were misleading as they •suggested that if they did not consent, customers could miss out on accessing additional funds in future, and •created the impression that customers needed to act urgently, which may have led customers to respond without properly considering their options.

Surveillance 4/06/2012 Credit - Other Bank of Western Australia Misleading advertising. Bankwest claimed that the Breeze The Bank of Western Australia Ltd (Bankwest) 12-110MR Bankwest amends credit card 12-110MR MasterCard was ‘Australia’s Cheapest Credit Card’. The has agreed to make changes to its advertising advertising following ASIC action advertisement prominently disclosed that this claim was and to contact consumers who have taken based on a recent award the Breeze MasterCard had received out the Breeze MasterCard since the from Money magazine. advertisements were published to more ASIC reviewed the award issued by Money magazine and accurately explain the nature of the claim. discovered that the Breeze MasterCard was only the cheapest credit card when compared with credit cards offered by other banks. In fact, there were some other credit card issuers (such as credit unions) that offered cheaper credit cards. ASIC was concerned that the claim ‘Australia’s Cheapest Credit Card’ was a strong, definitive claim likely to attract consumers’ attention. It was not clear in the advertising that the credit card had won this award only when compared to other banks.

Surveillance 14/06/2012 Insurance - Sales practices Toyota Finance Australia Limited Overcharging of premiums on consumer credit insurance (CCI) 370 consumers refunded a total of $635,860 12-128MR More than $630,000 refunded to 12-128MR by several Toyota motor vehicle dealerships in Australia. .Toyota Finance also agreed to implement Toyota customers following overcharged Personnel at the Toyota dealerships concerned benefitted new compliance processes and tighter premiums from selling consumers a commercial rather than a consumer procedures to prevent the possibility of a policy, because they received a commission of up to 50% of recurrence of the problem the policy premium. Under the National Credit Code, which regulates consumer credit and associated insurance, car dealers are not allowed to receive, and insurers are not allowed to pay, more than 20% in commission on CCI policies.

Surveillance 19/06/2012 Insurance - Other Australian Life Insurance Distribution Pty Ltd ALI Group failed to comply with a number of its obligations as Imposition of additional compliance 12-132MR ASIC imposes licence conditions on 12-132MR an Australian financial services (AFS) licensee, in that it conditions.ASIC required ALI Group to insurance group •failed to notify ASIC of the appointment of all Authorised employ an external compliance consultant to Representatives (ARs) regularly report to ASIC until 30 June 2013. •failed to include the relevant ARs' details on ALI Group’s The consultant to report on matters including Financial Service Guides (FSGs), and the number of ARs appointed, the number of •engaged in activities that weren’t part of their licence terms. insurance policy applications submitted by ARs, and the adequacy of compliance resources used by ALI Group.

Surveillance 19/06/2012 Credit - Other Resi Mortgage Corporation Pty Ltd Misleading advertising. Comparison rate wasn’t prominent Resi Mortgage Corporation Pty Ltd (RESI) 12-133MR ASIC takes action on RESI home 12-133MR enough and although the required statutory warning about agreed to make corrections to its online loans advertising the accuracy of the comparison rate was given, there was no home loan advertising to address ASIC's clear reference to that warning. concerns. Website included a table of other home loan products together with their interest rates but did not include any comparison rates. RCD.0015.0003.0294

Public Results & Reports

Surveillance 20/06/2012 Credit - Credit intermediaries BMW Australia Finance Limited BMW Finance had been extending credit to car buyers to pay More than 2400 consumers were refunded a 12-134MR More than $1 million to be 12-134MR for tyre and rim insurance premiums where the period of that total of $1,392,667 by BMW Australia Finance refunded to BMW finance customers insurance was for three years. Limited.BMW Finance implemented a process to refund the financed premiums for The National Credit Code prohibits lenders financing those customers, whilst allowing the consumers to premiums where the insurance is for a period longer than 12 retain the benefit of the policy. ASIC to months. Buying and financing insurance for more than one undertake an industry-wide review of the year in advance has a number of drawbacks for consumers, financing of tyre and rim insurance premiums including paying interest on premiums not yet due, and being to ensure compliance with the National ‘signed-up’ with one insurer for a long period. Credit Code and its predecessor the Uniform Consumer Credit Code.

Surveillance 20/06/2012 Insurance - Sales practices Avant Insurance Limited Misleading advertising. The advertising in a table comparing Avant Insurance Limited (Avant) agreed to 12-135MR Avant to change insurance policy 12-135MR the cover provided by Avant’s policy against that of four other •make clear to consumers that cover is advertising competitors created the impression that Avant’s policy subject to applicable terms, conditions and provided more cover than its competitors in some areas, when exclusions of the policy where key this was not necessarily the case statements are made about policy features; In particular •place disclaimers in close proximity to any •references to cover for ‘unpaid healthcare activities’ were key statements about the features of the not qualified to alert the consumer to applicable exclusions; policy; and •stop the use of comparisons that may not •references to cover for ‘supervised acts’ were not qualified to accurately represent the scope of cover alert the consumer to the existence of conditions and provided by Avant and its competitors; and exclusions for practice staff under supervision. •update its internal marketing guidelines to reflect ASIC’s Regulatory Guide 234 Advertising financial products and advice services Good practice guidance (RG 234) and work with marketing staff to improve disclaimers and warnings.

Surveillance 25/06/2012 Credit - Other Money3 Corporation Limited Money3, a lender which specialises in providing small amount Money3 Corporation Limited (Money3) 12-136MR ASIC takes action on car finance 12-136MR loans as well as car finance and leasing, promised, 'When agreed to change its car finance advertising.It advertising everyone else says no! We say yes!* No application refused'. has •removed from display all posters containing ASIC was concerned this claim was either the ‘No application refused statement’, and •misleading because the company did not in fact provide finance to all applicants who had been refused finance by •withdrawn and destroyed all pamphlets other lenders regardless of their financial circumstances, or from Money3 branches containing the •if the company did provide finance to all applicants that had statement been refused finance elsewhere, it was in breach of the responsible lending obligations under the National Consumer Credit Protection (NCCP) Act.

Surveillance 27/06/2013 Insurance - Other Suncorp Metway Insurance Limited, ASIC requested an independent review of Suncorp's The agreed to enhance its 13-155MR Suncorp Groups Life and General 13-155MR Australian Associated Motor Insurers Limited, compliance systems following its own examination of a compliance system across its life and general Insurance businesses to improve compliance GIO General Limited, AAI Limited, Australian significant number of breaches reported by the group for insurance businesses. Suncorp committed to systems following independent expert review Alliance Insurance Company Limited, Suncorp general and life insurance.In the period from June 2010 to improve the processes for Life & Superannuation Limited, Suncorp 2013 over 849,000 customers were affected by reported •monitoring and supervising representatives Financial Services Pty Ltd, Standard Pacific breaches, requiring refunds of approximately $23 million.The in its life and general insurance businesses Consulting Limited and Guardianfp Ltd. breaches included the failure to provide advertised discounts •reporting incidents and breaches in its life to customers and a failure to disclose significant policy and general insurance businesses upgrades to some life insurance customers. •adminis ering insurance policy customer discounts in its general insurance business, and •training representatives in its general insurance business. RCD.0015.0003.0295

Public Results & Reports

Surveillance 17/07/2013 Insurance - Sales practices Woolworths Limited Woolworths promoted that customers who switched to Woolworths Limited agreed to change an ad 13-177MR ASIC concerns prompt Woolworths 13-177MR Woolworths car insurance would save on average $240 in campaign for its car insurance product to change insurance ads premiums without sufficiently disclosing that there were following ASIC concerns it was potentially potential differences between Woolworths’ insurance product misleading. and the product consumers switched from. Woolworths car Insurance provided a lower range (than that offered by some other insurers) for customers to choose from when determining the agreed value of their vehicle. ASIC identified that this had the potential to impact on represented savings.

While the ads included a disclaimer that stated the cover and benefits may differ between the policies being compared, this was not sufficiently prominent to effectively qualify the savings claim (this was particularly the case for ads that appeared on buses where consumers had less time to scrutinise the ads), and was unlikely to correct any misleading impressions created by viewing the savings claim.

Surveillance 26/07/2013 Credit - Credit intermediaries Yellow Brick Road Finance Pty Ltd YBR has directly authorised over 100 individuals working in ASIC concerns have prompted Yellow Brick 13-192MR Credit licensee updates its 13-192MR YBR branches as credit representatives. ASIC considered that Road Finance Pty Ltd (YBR) to change the way licensing structure the national credit licensing framework also required YBR to it authorises companies and individuals to authorise the companies which operate the branches. This was offer loan advice through branches operated because the companies also act as intermediaries between the under its Australian credit licence. licensee and the consumer.

Surveillance 26/07/2013 Credit - Other Dale Cleves Music Pty Ltd, ASIC was concerned that the terms of the rental contract did Dale Cleves Music Pty Ltd, trading as Winston 13-193MR ASIC acts on rent to buy 13-193MR not give consumers the right to buy the instrument. Instead Music, has stopped advertising its musical advertisements they provided that the consumer may make an offer to buy instrument rental agreements as 'rent to buy' the instrument which Winston Music may or may not accept, following ASIC concerns it was misleading. and they incorrectly advertised these arrangements as ‘rent to buy’. Unless a consumer has a right to buy the goods under a goods rental contract, it is misleading to advertise the arrangement as being ‘rent to buy’.

Review 28/07/2013 Credit - Other Australia and New Zealand Banking Group ASIC’s industry-wide review found improper financing of tyre More than 30,000 car owners will be paid 13-231MR ASIC review prompts car financiers 13-231MR Limited (Esanda),Capital Finance Australia Pty and rim insurance premiums by some of Australia's largest car back over $15 million following an ASIC to refund more than 15 million dollars Ltd,Yamaha Motor Finance Australia Pty financiers.The National Credit Code allows the financing of review into the financing of tyre and rim Ltd,,BOQ Credit Pty Ltd (BOQ Finance),Toyota premiums for only one year. Financing of car insurance insurance premiums. Finance Australia Ltd,Nissan Financial Services premiums for more than a year can lead to customers paying Australia Pty Ltd,Volkswagen Financial undue interest on premiums and being unfairly locked into Services Australia Pty Ltd,GE Automotive longer contracts with one insurer. Financial Services,St George Finance Limited and St George Motor Finance Limited,Macquarie Leasing Pty Ltd,Automotive Financial Services Pty Ltd,RACV Finance Limited,Kawasaki Motor Finance,Branded Financial Services Pty Ltd

Surveillance 28/08/2013 Credit - Other V Mall Rentals Pty Ltd, Regional Rentals Pty ASIC undertook a surveillance of all Zaam franchisees and ASIC’s crackdown on credit providers’ 13-235MR ASIC takes action against rental 13-235MR Ltd, Aradhya Pty Ltd BDS Rentals Pty Ltd found they operated in a similar manner to Zaam Rentals. That responsible lending obligations continues companys franchisees is, they targeted Indigenous consumers and did not make with the regulator taking action against Zaam reasonable inquiries about customers’ financial situations or Rentals’ franchisees.The directors, Mr Vikas provide important credit guides and other information. Mall, Mr Ishan Gupta, Mr Ajay Sharma and Mr Ramandeep Singh, have been excluded from the industry by entering into written undertakings with ASIC stating they will not engage in credit activities for three and a half years. RCD.0015.0003.0296

Public Results & Reports

Surveillance 3/09/2013 Credit - Other Jasmin World Enterprises Pty Ltd (Gurwinda ASIC undertook a surveillance of all Mobile Rentals’ The franchisees’ directors have been 13-245MR ASIC removes Mobile Rentals 13-245MR Singh Sidhu and Mukhdeep Singh), Mobile franchisees of a household goods rental provider and found excluded from the industry by entering into franchisees from industry Rentals Thomastown Pty Ltd (Yajuvendra Bist), that while they did not use one standard form of contract written undertakings with ASIC stating they Mobile Rentals Ballarat Pty Ltd (Ashiok Kumar, across the franchise, they still operated with the same will not engage in credit activities for three- Amajot Singh and Karamjeet Singh), Mobile disregard for the credit laws as the franchisor. and-a -half years. Consumers have also been Rentals Werribee Pty Ltd (Pankaj Kumar released from their obligations under the Sharma), Universal Investments Group A review of consumer files of the franchisees, the majority of contracts and now own the goods. (Mukhdeep Singh) and Mohit & Somia Pty Ltd which were unlicensed, found they took none of the required (Mohit Bansal). responsible lending steps when entering into rental agreements. Surveillance 22/10/2013 Credit - ADI lending Bank of Queensland In response to a request from ASIC, Bank of Queensland BoQ agreed to expand the scope of a review 13-286MR ASIC action sees BOQ extend 13-286MR Limited as agreed to expand the scope of a review into its into its compliance systems and remediation independent expert review compliance systems and remediation processes following processes. BOQ will refund an additional further reports of errors in its interest rates and fees. This $34.5 million and pay another $11.5 million included a $12 million customer error following a failure to to fix additional errors. These failures have link mortgage offset accounts to some eligible home loan impacted approximately 46,000 customers accounts over several years. Following this, ASIC action with refunds and remediation costs of $58 resulted in the bank appointing an independent expert to million. make sure its compliance systems work properly and BoQ also to report to ASIC regularly over the customers are refunded. BOQ's internal review had identified next year with updates of its repayments. further errors, some dating back to 2004, resulting in customers being overcharged in fees and underpaid in interest.

Surveillance 24/10/2013 Credit - Other Mr Rental Port Augusta a franchisee of Mr The franchisee of a national household goods rental business The consumers' agreements were 13-288MR ASIC action sees Indigenous 13-288MR Rental Australia Ltd targeted Indigenous consumers in remote South Australia. terminated, the customers owed no further consumers released from contracts More than 40 consumers were asked to sign several money, and the customers became the documents together with a lease agreement, none of which owners of their rented goods. were explained to them and included a ‘customer declaration’ indicating they understood all the paperwork and that they were not intoxicated.

Surveillance 28/10/2013 Insurance - Sales practices Insure 247 Pty Ltd ASIC was concerned that certain websites gave the impression Insure 247 made changes to its online 13-291MR ASIC concerns result in changes to 13-291MR consumers were accessing an online tool which compared the insurance websites. online advertising by Insure 247 features and the cost of different insurance products (eg ‘Greatchoice and our partners compare thousands of Insure 247 changed the content of its Insurances from fifty different insurers’). ASIC’s review found websites to prominently state, on the home there was no evaluation or comparison of the products. pages and every product page, that it is not a market comparison service. Insure 247 also Further, ASIC found Insure 247 displayed the logos of corrected the use of logos and made it clear insurance providers that were not offering quotes for the to consumers that when seeking an insurance product featured on that page of the website. For some quote, only one quote may be provided for insurance products, only one insurance provider received some products. consumer details through the website when consumers were likely to think their details would be passed on to many insurers.

Surveillance 18/11/2013 Credit - Credit intermediaries Catherine Anne Thompson of Mortgage Defrauding 24 investors of more than $4 million. Permanently banned from engaging in any 13-312MR Former WA mortgage broker 13-312MR Miracles Pty Limited credit activities and providing financial removed from the industry Between 2007 and 2008 Ms Thompson convinced her clients, services. including friends and members of her church, to part with hundreds of thousands of dollars for an investment scheme. The former mortgage broker was also sentenced to five years and one month in gaol, along with being ordered to pay compensation to her victims. RCD.0015.0003.0297

Public Results & Reports

Review 5/12/2013 Deposit takers - Other a number of banks and mutual Authorised ASIC found a number of banks and mutual Authorised deposit- Following discussions with the Australian 13-325MR ASIC acts on advertising of 13-325MR deposit-taking institutions taking institutions (ADIs) were using the term ‘deeming Bankers’ Association (ABA) and the Customer pensioner deeming accounts account’ to promote a basic to pension Owned Banking Association (COBA), industry recipients. These accounts were marketed as having a agreed that members offering these products connection with the Government’s ‘deeming rules’, which will work to ensure form part of the Government’s social security income test. •the word ‘deeming’ is not used in a savings account name where that might mislead ASIC was concerned that the advertising could mislead consumers about the interest rates being consumers into believing the interest rates on offer would be offered the same as the deeming rates. In most cases, the savings •features of these accounts are not described accounts offered lower interest rates than the deeming rates, as being ‘comparable to’, ‘compatible with’, particularly for lower account balances.ASIC was also ‘guided by’, ‘reflective of’ the Commonwealth concerned about consumers being unable to clearly identify Government deeming rates where this is not the interest rates that apply to different account balances the case, and (known as ‘banded’ or ‘tiered’ interest rates). •where ‘banded’ interest rates are offered, this is clearly disclosed, and information about different bands and applicable rate made easily accessible to consumers.

Surveillance 9/12/2013 Credit - Other MyRate Pty Ltd Concerns that home loan interest rates advertised on the MyRate made changes to its website to 13-329MR ASIC concerns prompt MyRate to 13-329MR website were likely to mislead consumers. prominently state on the home page that the change website advertised rate only applies to new loans. ASIC was concerned the website gave the impression the advertised rate for a variable home loan applied to both MyRate also agreed to write to all affected existing and new loans when, in reality, it only applied to new customers to confirm the advertised rate only home loans only. This meant some customers with existing applied to new loans. variable rate home loans were charged interest over the advertised rate. MyRate will provide their internal dispute resolution contact details and customers are encouraged to contact MyRate if they have any concerns that they may have been misled about the interest rate on their loan, or other questions about their loan.

Surveillance 20/01/2014 Insurance - Sales practices TAL Direct Pty Limited Concerns regarding TAL’s advertising of funeral insurance. TAL withdrew its existing funeral insurance 14-007MR ASIC continues to focus on funeral 14-007MR advertisements in June 2013, and announced insurance ASIC was concerned that in TAL’s advertising of its funeral the introduction of its new range of funeral insurance product insurance products, with policy features •premium increases and stepped premiums (where the including insurance premium increases each year as you get older) •level premiums for the life of the policy; and were not adequately disclosed or explained; •capped premiums. •qualifications relating to advertised prices were not sufficiently prominent; and ASIC to continue its engagement with funeral •quoted prices were not representative of the imagery used in insurance providers. the advertising, including the age of the actors. ASIC’s view was there was a risk that some consumers may be misled about these matters. RCD.0015.0003.0298

Public Results & Reports

Surveillance 5/02/2014 Credit - Other Jeremy (WA) Pty Ltd The marketing representations, which offered 'guaranteed car Paid $20,400 in penalties in compliance with 14-022MR Finance broker pays 20400 dollars 14-022MR finance' to consumers, were published on websites operated two infringement notices. infringement notice penalty by the company at guaranteedcarfinance.com.au and yes- loans.com.au and using the Google Adwords service which linked to the company's website at getapproved.com.au.

ASIC was concerned the representations were false or misleading under the national consumer law because an unconditional guarantee that finance can be provided is inconsistent with responsible lending laws.

Surveillance 18/02/2014 Credit - Credit intermediaries Mr Parmjit Singh Between 2010 and 2013, the mortgage broker failed to verify Cancellation of mortgage broker's Australian 14-030MR ASIC concerns about loan 14-030MR documents supplied in support of about 40 loan applications credit licence. applications result in cancellation of to various banks. mortgage brokers licence Mr Singh also agreed not to apply for a ASIC found that in preparing loan applications, Mr Singh licence or participate in the consumer credit obtained information from home loan applicants, but failed to or financial services industries for five years. verify payslips, bank statements and employment references in circumstances where suspicions should have been raised as to whether these documents were valid.

Surveillance 26/03/2014 Insurance - Sales practices Australia and New Zealand Banking Group Consumers may have been misled by advertising that ANZ agreed to waive fine print qualifications 14-058MR ASIC concerns about ANZ 14-058MR Limited promoted an ANZ Visa gift card when applying for income to the offer. ANZ also sent gift cards to over advertising protection insurance. 700 consumers.

The advertisements for income protection insurance with a bonus offer of a $100 ANZ Visa gift card ran in newspapers and online between 3 November 2013 and 14 December 2013.

However, under the terms of the offer consumers did not qualify for the gift card unless they maintained their policy for an initial year and paid all premiums when due.

While these conditions were disclosed in the advertisement’s fine print, ASIC believed they were not sufficiently prominent to ensure that consumers would not be misled.

Surveillance 18/08/2014 Credit - Other Aldi Einkauf GmbH & Co. oHG (German parent ASIC was concerned that ALDI did not Undertaking by ALDI to improve signage and 14-204MR ASIC acts to ensure better 14-204MR company) •consistently disclose in all of its stores that there is a 0.5% other point-of-sale communication about the disclosure by ALDI of credit card and surcharge for consumers paying by credit card, and disclosure of credit card surcharges in its contactless payment surcharges •specifically disclose that transactions made using 'tap and go' supermarkets contactless payment systems are also subject to the 0.5% surcharge, which applies in ALDI stores where either a credit card or debit card is used.

Surveillance 17/09/2014 Credit - Other National Australia Bank Potentially misleading advertising of a UBank home loan Paid $40,800 in penalties after ASIC issued 14-235MR NAB pays $40,800 penalty for 14-235MR product.The advertising campaign promoted an offer of a four infringement notices. ASIC’s concerns misleading UBank advertisements $2,014 EFTPOS gift card for consumers who obtained a home also led to UBank providing a $2,014 gift card loan with UBank. to all consumers who applied for a loan ASIC was concerned that some details of UBank’s offer were during the relevant period and subsequently not disclosed in some of the advertisements and, in others, settled their loan. were not disclosed in a clear and prominent manner. These included •a minimum loan amount of $350,000 •a requirement to use an electronic settlement process for refinanced loans •all documents to be provided within five days, and •a cap on the number of consumers eligible to receive the offer. RCD.0015.0003.0299

Public Results & Reports

Review 23/09/2014 Credit - ADI lending AFSH Nominess Pty Ltd Before the introduction of responsible lending laws in 2010, ASIC’s review of 12 lenders found that 14-245MR 'Low doc' lenders tighten lending 14-245MR Redzed Lending Solutions Pty Ltd some lenders did not verify a borrowers financial situation for lenders had tightened their ‘low doc’ lending practices La Trobe Financial Services Pty Limited ‘low doc’ loans. Instead, lenders often simply relied on a practices since the introduction of the Australian and New Zealand Group Limited statement from the borrower that they could meet their responsible lending laws. For example National Australia Bank Limited repayments. This led, in some cases, to borrowers not being •Lenders are providing ‘low doc’ loans to a Resimac Limited able to pay back the loan, or only being able to do so by selling narrower range of borrowers. ‘Low doc’ loans Bank of Western Australia (a division of Comm their home. are only being offered to the self-employed Bank) or those who do not have a readily verifiable Pepper Australia Pty Ltd income, rather than borrowers with a regular Suncorp-Metway Limited income stream that can be readily verified by Bendigo and Adelaide Bank Limited documents such as payslips. Liberty Financial Pty Ltd •Lenders are obtaining additional MKM Capital Pty Ltd information to verify a self-employed borrower’s income, such as business bank account statements and/or letters from accountants. •Lenders have additional processes in place to ensure the reliability of information provided by mortgage brokers.

Surveillance 8/10/2014 Deposit takers - Deposit products Commonwealth Bank of Australia ASIC was concerned that CBA forfeited funds left on its CBA CBA agreed to release $2.2 million for 14-262MR ASIC concerns see CBA release 14-262MR Travel Money Cards for 12 months after expiry and that this approximately 45,000 customers who had $2.2 million for 45,000 travel card customers was a potential unfair contract term. money left on expired CBA Travel Money Cards.

CBA also made changes to all its Travel Money Cards so consumers will not forfeit any funds left on expired cards. Instead, any expired funds will be held by the CBA for three years and, if they remain unclaimed by consumers, will be treated as unclaimed money. This will allow consumers to retrieve the money at any time in the future. ASIC is reviewing 13 products from nine issuers as part of its b oader work in this area Surveillance 10/10/2014 Credit - ADI lending Westpac Banking Corporation Between July 2008 and June 2010, Mr St Pierre a mortgage Decision by Westpac to offer to make 14-264MR ASIC welcomes Westpac's 14-264MR manager of Westpac engaged in behaviour including payments to an additional seven investors payments to CGIC investors •submitting loan applications to Westpac for approval when who had contact with Mr St Pierre. he knew they contained false information and were supported by false documents and •enabling and encouraging customers to borrow funds from Westpac to invest in a scheme earning a financial advantage in the form of cash bonuses on the loans, in addition to his base salary, despite knowing that they were either elderly, a pensioner, a carer or suffering from a disability, and would not be able to repay the loan if the scheme failed. RCD.0015.0003.0300

Public Results & Reports

Review 22/10/2014 Credit - Other Sunshine Loan Centres Pty Ltd and the ASIC was concerned that the Cash Loan Money Centres and Cash Loan Money Centres and Sunshine 14-278MR ASIC continues crackdown on 14-278MR following companies which operated under a Sunshine Loans were using business models which Loans agreed to stop offering 'leaseback' payday lending avoidance models model promoted by Courthouse Holdings Pty deliberately attempted to avoid the protections for consumers arrangements to consumers who wanted a Ltd (trading as Cash Loan Money Centres) contained in the small amount lending provisions in the payday loan. •A. & W. Edwards Investments Pty Ltd ACN National Consumer Credit Protection Act 2009 (National Credit 059 914 742 Act). •Advance Cash Lending Co Pty Ltd ACN 112 550 802 For example, consumers who approached a Cash Loan Money •CLMC Pty Ltd ACN 113 241 160 Centre for a payday loan were signed up to an arrangement •C L Money Pty Ltd ACN 059 615 262 where the consumer 'sold' a household item such as a washing •Gold Coast Cash Loans Pty Ltd ACN 115 923 machine or fridge to the business, in return for a sum of 870 money, and simultaneously 'leased' the goods back from the •Gold Vision Finance Pty Ltd ACN 106 172 767 business. In practice, the goods never changed hands, and the •Indijye Pty Ltd ACN 139 394 988. business never actually saw the household goods, or •Inspyer Pty Ltd ACN 119 508 673 confirmed the current market value before 'purchasing' them •Lucky4Leaf Pty Ltd ACN 126 950 829 from the consumer. •Mulley Investments Pty Ltd ACN 056 644 378 •Namax Pty Ltd ACN 108 584 292 ASIC wasmainly concerned that, consumers were charged •Northam Park Pty Ltd ACN 005 974 701 considerably more than the amount allowed under the •Nuit Pty Ltd ACN 107 973 544 legislative cap on costs for payday loans. •P & V Jackson Holdings Pty Ltd ACN 113 928 368 •Stonehenge Holdings Pty Ltd ACN 009 451 843, and •Tamdanic Investments Pty Ltd ACN 107 693 210.

Surveillance 27/10/2014 Credit - ADI lending National Australia Bank A NAB promotional wraparound published in The Sydney NAB to run corrective advertisements in 14-282MR ASIC concerns prompt NAB to 14-282MR Morning Herald and The Age claimed the bank ‘had the lowest issues of The Sydney Morning Herald and The correct misleading home loan claims standard variable rate for more than five years’. Age.

The claim was false as NAB failed to qualify its claim with words to the effect 'of the four major banks'. Outside the major banks, NAB did not have the lowest standard variable rate over the past five years.

Surveillance 25/11/2014 Credit - Other Abaz Pty Ltd Failure to obtain required account statements from Abaz paid a $42,500 penalty after ASIC issued 14-313MR Payday lender penalised for 14-313MR borrowers. it with an infringement notice. It also breaching new responsible lending laws updated its responsible lending policies and procedures to comply with the new requirements and appointed an independent compliance consultant to review these practices. Surveillance 2/12/2014 Credit - Credit intermediaries Mortgage House of Australia Pty Ltd Inappropriately using an ASIC trademark "Moneysmart" to sell Mortgage House was censured by ASIC. 14-322MR Mortgage House rebuked over 14-322MR one of its loan products. ‘MoneySmart’ loan offer MoneySmart is a registered trademark of ASIC and is ASIC’s Mortgage House also renamed the loan dedicated website for consumers and retail investors. product, undertook corrective advertising on its website and provided ASIC with an Using ASIC’s brand could have misled borrowers to believe the undertaking to rectify its advertising company was in some way endorsed or approved by ASIC or compliance processes. ASIC’s MoneySmart.

Surveillance 9/12/2014 Credit - Other Fast Easy Loans Pty Ltd Charging consumers a brokerage fee where it was prohibited Agreed to refund more than 2,000 consumers 14-328MR ASIC crackdown stops another 14-328MR from doing so. a total of $477,900. payday lender from overcharging consumers

From September 2010 to June 2013, Fast Easy acted as the Easy Finance also engaged an external legal broker for a related lender, Easy Finance Loans Pty Ltd (Easy firm to conduct a compliance review on their Finance), and unlawfully charged consumers a brokerage fee current business model to ensure it meets in excess of certain state and territory interest rate caps. In the requirements of the National Consumer charging a brokerage fee, Fast Easy engaged in credit activities Credit Protection Act 2009. without a credit licence. RCD.0015.0003.0301

Public Results & Reports

Surveillance 2/02/2015 Insurance - Claims handling QBE Insurance (Australia) Ltd Concerns about the manner in which QBE had outsourced QBE agreed to make changes to its 15-010MR ASIC ensures QBE meets expected 15-010MR complaint and dispute resolution to an Australian law firm. outsourcing of escalated complaints and outsourcing standards for dispute resolution dispute resolution. In particular, ASIC was concerned that some QBE customers were receiving written communication on the letterhead of a QBE agreed to ensure that all future law firm (rather than QBE-branded letterhead), and that this communication with customers (relating to could create a potential barrier for those customers to resolve escalated complaints and dispute resolution) their disputes as they could is QBE-branded, even where QBE may have •feel intimidated and possibly dissuaded from pursuing their received assistance from a law firm in complaint; and preparing the correspondence. •feel the need to seek unnecessary and costly legal representation.

ASIC was also concerned that this practice was inconsistent with QBE's Australian financial services licence (AFSL) obligations in relation to dispute resolution as well as the Australian Standard for complaints handling.

Surveillance 3/02/2015 Insurance - Other Davantage Group Pty Ltd ASIC was concerned with the following statement on National Agreement to remove statements on its 15-011MR ASIC concerns prompt national 15-011MR Warranty Company's (NWC) website 'This reputation together website that implied that being regulated and warranty company to remove a potentially with regulation by ASIC and the Australian Financial Services licensed by ASIC would assist future claims by misleading representation Licence go a long way in assuring our customers that the consumers. products they purchase today will be there to assist them if needed in the future.' NWC offered discretionary risk products which meant that it had a discretion as to whether to pay a valid claim.

ASIC was concerned that the wording of this statement may give the false and misleading impression that holding an Australian financial services licence and being regulated by ASIC meant that NWC was more likely exercise its discretion to pay on future valid claims.

Surveillance 3/02/2015 Credit - ADI lending Wide Bay Australia Limited Concerns with the way the group was assessing its customers' Wide Bay (WB) to improve its responsible 15-013MR ASIC concerns prompt Wide Bay to 15-013MR suitability for home loans. lending practices. review lending standards

ASIC was concerned that Wide Bay relied too heavily on WB to update their application forms to limited information provided by FTS Finance Brokers Pty Ltd ensure they capture relevant information rather than checking directly with the borrower about their about a borrower's requirements and requirements and objectives. objectives, as well as improving their processes when insufficient or inconsistent information is provided.

Surveillance 11/02/2015 Credit - Other Goldhype Pty Ltd (trading as Smart Link The businesses offered leases to consumers for household Agreement to refund consumers for rental 15-019MR ASIC action leads to refunds and 15-019MR Rentals)Innova Enterprise Pty Ltd (trading as items and consumer electronics, such as mobile phones, payments made. savings totalling over $230,000 for consumers Ezi Keep Rentals) computers and televisions, when they were not licensed to ATM Ventures Pty Ltd (trading as Rent To provide consumer leases. Over $230,000 refunded to 115 consumers, Keep and Rent2Keep) the majority of whom were in receipt of Karma USSB Pty Ltd (trading as Rent Ezi Centrelink benefits, who entered into Appliance Rentals), and contracts with these lease providers. Gattcorp Holdings Pty Limited (trading as Want It Rent It). RCD.0015.0003.0302

Public Results & Reports

Surveillance 3/03/2015 Insurance - Sales practices Allianz Australia Insurance Ltd Between August 2010 and March 2012 Following earlier court action by ASIC against 15-044MR Allianz agrees to refund $400K in 15-044MR •The Cash Store (TCS) sold CCI to 182,838 customers TCS, Allianz agreed to refund consumers 'useless' payday insurance premiums •these customers paid $2,278,404 in premiums for cover, and $400,016 in insurance premiums. •only 43 claims were paid to consumers, totalling only $25,118. ASIC's concern was that this product was unlikely to Allianz also agreed to appoint an be of any use to customers for a payday loan and certainly independent external firm to review its useless for those who were unemployed. supervision of third parties to address the risk of this type of conduct occurring again.

Surveillance 6/03/2015 Insurance - Sales practices AAI Limited The television and online advertisements included the AAI Limited (trading as AAMI) paid $20,400 in 15-046MR AAMI Pays $20,400 penalty for 15-046MR headline claim 'AAMI FLEXI-PREMIUMS COULD SAVE YOU AN penalties after ASIC issued two infringement misleading car insurance advertising AVERAGE OF $357 OFF YOUR NEW POLICY' and a verbal notices. representation stating 'Switch your car insurance and AAMI Flexi- Premiums could save you an average of $357 off your new policy.'

ASIC was concerned that the representations were false or misleading because they •were likely to give the impression that savings could be achieved by consumers if they switched their car insurance to AAMI. In fact, the specified savings were based on a comparison between different AAMI premiums with different levels of excess chosen, rather than between a competitor’s product and AAMI’s product. •did not adequately convey that AAMI customers would need to choose the maximum level of excess in preference to the minimum level of excess to achieve the specified dollar savings. Based on AAMI’s analysis of a sample of their own customers, AAMI was aware that most customers did not choose the maximum excess.

Surveillance 30/04/2015 Insurance - Other Allianz Australia Insurance Limited and Allianz ASIC's concern related to two breaches- the first breach Allianz Australia Insurance Limited and 15-089MR Allianz repays more than 15-089MR Australia Life Insurance Limited failure to refund stamp duty amounts owed to customers with Allianz Australia Life Insurance Limited $1,400,000 after overcharging customers consumer credit insurance policies. refunded over $1.4 million to approximately 20,000 customers. The second breach the overcharging of 2,591 customers who paid their insurance premium by monthly instalments.

Surveillance 25/05/2015 Credit - ADI lending Bank of Queensland Limited Bank of Queensland was using a benchmark figure, the Bank of Queensland Limited (Bank of 15-125MR ASIC concerns prompt Bank of 15-125MR Henderson Poverty Index (HPI), to estimate the living Queensland) improved its lending practices. Queensland to improve lending practices expenses of consumers applying for home loans, rather than It updated its home loan application forms to asking borrowers about their actual expenses. obtain more information about a customer's living expenses. The bank was also to carry In ASIC's view, the lack of enquiry about actual expenses, and out an assessment of the suitability of a loan reliance solely on HPI (which is used as a measure for using the higher of either the living expense estimating the minimum amount of money families of figure supplied by the customer or an different sizes need to cover basic essential needs) was not appropriate benchmark figure. consistent with responsible lending obligations imposed by the National Credit Act. The bank will review the circumstances of borrowers who go into hardship or default to ensure that they have not been disadvantaged by a loan provided prior to the change in policy. RCD.0015.0003.0303

Public Results & Reports

Surveillance 30/06/2015 Insurance - Sales practices One Big Switch Pty Ltd One Big Switch describing itself as a 'consumer goup network' ASIC granted an AFS licence, imposing a 15-163MR ASIC action sees One Big Switch 15-163MR encouraged 74,000 consumers to sign up to its 2014 home condition requiring the company to appoint come under review insurance campaign. ASIC's concern was that it conducted an independent consultant to review its business without an Australian financial services (AFS) licence. compliance with financial services laws, and rectify any deficiencies identified by the expert. Kemp Strang Lawyers (the independent consultant) delivered an initial report to ASIC which identified that One Big Switch’s advertising of its recent insurance campaigns contained potentially false and misleading statements. Kemp Strang Lawyers to undertake a further review of One Big Switch and report to ASIC by the end of September 2015.

Surveillance 1/07/2015 Credit - Other MONEY3 Corporation Limited ASIC was concerned that Money3’s ‘fixed fee’ loan was likely Money3 stopped offering its two payments 15-168MR Money3 provides over $100,000 in 15-168MR to be unsuitable for most of the financially vulnerable ‘fixed fee’ loan arrangement and agreed to refunds to consumers as ASIC’s payday customers who obtained it, and in breach of the national refund more than $100,000 to consumers. lending crackdown continues responsible lending obligations. Consumers may also have been misled into believing the terms of the loan enabled flexible repayments when the contract in fact disclosed that a large fee could be charged if the consumer asked for a variation of the repayment schedule.

Surveillance 7/07/2015 Insurance - Sales practices CGU Insurance Limited, Accident and Health ASIC's court action against The Cash Store was in respect of its CGU, together with AHI, agreed to refund 15-175MR CGU Insurance and Accident and 15-175MR International Underwriting Pty Ltd conduct between August 2010 and March 2012. In this period consumers over $2,000,000 in payday loan Health International to refund $2 million in •The Cash Store sold the CCI product to 182,838 customers consumer credit insurance (CCI) premiums 'useless' payday insurance premiums •these customers paid $2,278,404 in premiums for cover and fees. •only 43 claims were paid to consumers, totaling only $25,118.ASIC's concern was that this product ofefred little The agreement followed earlier court action value to consumers. by ASIC against The Cash Store, in which the Federal Court found that The Cash Store had acted unconscionably in selling a payday loan CCI product (CCI product).

Review 25/08/2015 Deposit takers - Deposit products Australia and New Zealand Banking Group Travel money cards issued by ANZ, (issuer of the Following ASIC's industry-wide review of 16 15-229MR Consumers can reclaim funds on 15-229MR Limited, Cuscal Limtied Limited Westpac card) and the Bank of China (issuer of the Australia travel cards by eight issuers, travel money expired travel money cards following ASIC Post Load&Go China card) not allowing customers to reclaim cards currently issued in Australia will now action leftover funds even after expiry of the card. allow customers to reclaim leftover funds.

ASIC's review of travel money cards led to three additional card issuers changing their terms and conditions so that customers do not forfeit their funds when the cards expire. This is in line with all other travel money card issuers in Australia.

Surveillance 28/08/2015 Credit - Credit intermediaries Financial Broking Consultants Pty Ltd Financial Broking Consultants breached a licence condition by ASIC cancelled the Australian credit licence of 15-234MR ASIC cancels Financial Broking 15-234MR failing to appoint an appropriate and competent person to Financial Broking Consultants. Consultants' Australian Credit Licence operate the business, despite ASIC raising concerns with the company. The delay and lack of engagement by Financial Broking Consultants over this issue suggested that it was likely to contravene further obligations under the National Consumer Credit Protection Act 2009 (Cth).

Surveillance 13/10/2015 Credit - Credit intermediaries Elite Mortgage Brokers ASIC was concerned that the following statements, which Elite Mortgage Brokers, a Melbourne-based 15-292MR Mortgage broking firm responds to 15-292MR were made in Chinese, were misleading or deceptive or likely Chinese mortgage broking firm, agreed to ASIC’s concerns about misleading advertising to mislead or deceive make changes to its website and print in Chinese language •100% success rate advertisements in response to concerns •pre-approvals within 15 minutes raised by ASIC. •Melbourne’s largest Chinese mortgage broker; and •matching of all banks’ interest rates. RCD.0015.0003.0304

Public Results & Reports

Surveillance 19/10/2015 Credit - Other Commonwealth Bank of Australia CBA failed to apply fee waivers and ongoing benefits to Commonwealth Bank of Australia (CBA) will 15-298MR CBA to refund $7,600,000 after 15-298MR AgriAdvantage Plus package (the package) holders over a refund around 8,400 customers failing to apply benefits number of years. approximately $7.6 million. The package (launched in 2005 but no longer available to new customers) applied to a range of products including lending facilities, business overdrafts, savings and transaction accounts. There were a range of interest rate and fee concessions on eligible products like discounted lending rates, preferential savings rates, and fee waivers.

Surveillance 22/10/2015 Credit - Other Green Light Auto Group Pty Ltd ASIC’s surveillance uncovered Carboodle’s systems and ASIC has imposed conditions on the 15-299MR ASIC imposes licence conditions on 15-299MR procedures were not sufficient to ensure it was complying Australian credit licence of Green Light Auto car financier with national consumer credit laws, including meeting its Group Pty Ltd which trades as responsible lending obligations. In addition, it failed to obtain Carboodle.While it has made changes to its written consent to enter a property when repossessing leased processes and procedures, the licence motor vehicles. conditions will require Carboodle to appoint an independent compliance consultant to review its overall compliance arrangements and provide a report to ASIC.

Surveillance 26/10/2015 Credit - Other National Australia Bank Some of NAB’s debt collection letters may have been In response to ASIC’s concerns NAB has 15-310MR NAB changes debt collection 15-310MR misleading, deceptive or unconscionable. ASIC was concerned removed from its debt collection letters practices following concerns by ASIC that NAB was sending debt collection letters to customers •references to Fairhalsen Collections and using letterheads for "Fairhalsen Collections" and "Brunswick Brunswick Collection Services Collections Services", which may have given the incorrect •representations in relation to face-to-face impression that NAB had sold, outsourced or otherwise contact, legal action and bankruptcy (unless escalated a debt when this was not the case .ASIC was also such action is likely to occur). concerned that letters sent to some customers during the collection process stated that if the debt was not paid, or contact made, NAB may take legal action, or make face-to-face contact. In fact, for the majority of recipients, such action was either unlikely or would only be considered at a later stage in the collection process.

Surveillance 29/10/2015 Insurance - Sales practices Westpac Banking Corporation Westpac charged customers for loan protection insurance Westpac agreed to write to more than 10,600 15-318MR Westpac to refund premiums for 15-318MR when the customer did not have a loan on foot and where the insurance customers and offer to refund any unwanted insurance cover customer did not intend to be covered for that period. premiums paid for insurance cover they did Customers affected include those who took out a Mortgage not need. Secure or Home Loan Protection insurance policy when they applied for a home loan.

Surveillance 9/11/2015 Credit - Other Latitude Financial Services Australia Holdings GE Money's advertising was potentially misleading. The GE Money has changed its advertising of 15-325MR GE Money changes advertising 15-325MR Pty Ltd advertisements claimed 'One of the best rates in the market, personal loans and debt consolidation loans following ASIC concerns from 12.99% (comparison rate 14.20%) for loans over $10,000 for new customers.'In fact, a consumer applying for the product would be offered an interest rate between 12.99% p.a. and 34.95% p.a. ASIC was concerned that the advertising was misleading as only some consumers qualified for the lowest rate. The use of the qualifying term 'from,' in the context of risk-based pricing with a significant variation between lowest and highest cost, was insufficient to prevent consumers being potentially misled.Risk based pricing is where the interest rate offered to the consumer is dependent on the consumer's credit risk profile, as assessed by the credit provider.

Surveillance 12/11/2015 Deposit takers - Deposit products Australia and New Zealand Banking Group ANZ failed to accurately apply bonus interest to Progress Saver Australia and New Zealand Banking Group 15-330MR ANZ to pay $13 million after failing 15-330MR Limited, Cuscal Limtied Bank of China Limited Accounts for a number of years. ANZ misaligned the monthly (ANZ) is compensating around 200,000 to accurately apply bonus interest cycle it applied to determine whether a customer was eligible customers approximately $13 million. The for bonus interest payments and the monthly cycle it applied refund payment includes an additional to calculate bonus interest payments. amount to recognise the time elapsed since the initial breach. RCD.0015.0003.0305

Public Results & Reports

Surveillance 25/11/2015 Credit - Other Commonwealth Bank of Australia Failing to apply fee waivers, interest concessions and other Commonwealth Bank of Australia (CBA) will 15-355MR Commonwealth Bank to refund 15-355MR benefits since 2008. CBA relied on staff to manually apply refund approximately $80 million to around $80 million after failing to apply benefits many of the discounts available under the Wealth Package. 216,000 Wealth Package customers.CBA has Investigations revealed that an exception reports, which was simplified the Wealth Package by reducing designed to detect when the discounts were not properly the number of options and products on offer. applied, was not working properly. These changes have not removed benefits that existing package holders were entitled to receive for existing eligible products.

Surveillance 2/12/2015 Insurance - Other TAL Direct Pty Limited (trading as False or misleading television advertisements promoting TAL Direct Pty Limited, trading as 15-361MR InsuranceLine penalised for 15-361MR InsuranceLine) income protection product. Concern that fine print InsuranceLine (InsuranceLine), paid a penalty misleading advertising statements in advertisements including waiting periods, of $10,200 after ASIC issued an infringement payout periods, limitations and exclusions, were insufficient to notice for false or misleading television correct any misleading impression created on viewing due to advertisements promoting its income lack of details, clarity and prominence. protection product. InsuranceLine immediately ceased broadcasting the advertisement after being notified of ASIC's concerns. Review 20/01/2016 Credit - ADI lending Westpac Banking Corporation Failure to make reasonable inquiries about some consumers' Westpac committed to 16-009MR Westpac pays $1 million following 16-009MR income and employment status before increasing their credit •Changing its credit limit increase processes ASIC's concerns about credit card limit card limit. In particular, ASIC was concerned that Westpac, in to ensure that, at a minimum, reasonable increase practices relying largely on its automated processes, was not making inquiries are made about a customer's reasonable inquiries of individual cardholders, which is not income and employment status to ascertain consistent with the responsible lending obligations under the their financial situation before the limit is National Consumer Credit Protection Act 2009. increased; •A remediation program involving a review of credit limit increases previously provided where a cardholder experiences financial difficulty, with consumer refunds paid where appropriate; •Engaging an independent external expert to provide assurance of the effectiveness of the remediation program; •Contribute $1 million over four years to support financial counselling and literacy. Westpac suspended sending credit limit increase invitations until ASIC's concerns were resolved and Westpac's processes improved.

Surveillance 28/01/2016 Insurance - Other ACE Insurance Limited ASIC was concerned that the ACE Insurance and Tigerair's Following concerns raised by ASIC, ACE 16-014MR ASIC stops misleading website 16-014MR promotion of ACE Insurance's Tigerinsure travel insurance Insurance Limited (ACE Insurance) and Tiger advertising by ACE Insurance, Tigerair and policies on their websites were not consistent with the cover Airways Australia Pty Limited (Tigerair) Priceline as set out in the policies and product disclosure statements. removed misleading promotional statements In a separate matter, the Priceline Protects Bill Protection on their websites about ACE Insurance travel insurance policy was promoted on the Priceline website as insurance policies.ACE Insurance agreed to providing 'up to $2,500 cover per month' with 'competitive contact all Priceline Protects Bill Protection premiums from $2.80* per week.' However, in order to Insurance policyholders about their policies receive this maximum cover per month, premiums would cost and offer them a full refund of the premiums around $13 per week, over four times more than the paid. advertised price. ASIC was concerned that referring to the maximum benefit of cover ('up to $2,500') in conjunction with the minimum premium payable ('from $2.80 per week'), could mislead consumers about the price of the benefit being promoted.

Formal investigation (an investigation 9/02/2016 Credit - Other Fair Go Finance Pty Ltd Overcharging interest and establishment fees on payday loans. Fair Go Finance Pty Ltd has paid $34,000 in 16-027MR Payday lender penalised for 16-027MR commenced pursuant to s13 ASIC Act or s247 infringement notices. Fair Go Finance will overcharging consumers NCCP Act) also refund approximately 550 consumers around $34,500 for the interest and fees it collected from consumers in excess of the maximum amount allowed under the NCA. RCD.0015.0003.0306

Public Results & Reports

Surveillance 15/03/2016 Insurance - Other OnePath Custodians Pty Ltd, OnePath Life ASIC sought a review following a significant number of ANZ agreed to an independent review of its 16-069MR Independent compliance review of 16-069MR Limited, OnePath Funds Management Limited breaches reported by the ANZ Group in relation to its life, One Path subsidiaries' compliance functions. ANZ's OnePath following breaches resulting and OnePath General Insurance Pty Limited, general insurance, superannuation and funds management in compensation of approximately $4.5 ANZ Group activities. From early 2013 to mid-2015, around 1.3M million customers were affected by breaches, requiring refunds and compensation of around $4.5M, rectifications and other remediation of approximately $49M. ASIC was concerned that the breaches together reflected compliance issues which could impact on AFS licence obligations of entities in the ANZ Group.

Surveillance 23/03/2016 Credit - Other Nimble Australia Pty Ltd ASIC identified significant deficiencies in Nimble's compliance Nimble will refund over 7,000 customers 16-089MR Payday lender Nimble to refund 16-089MR with the responsible lending laws when providing loans of more than $1.5 million. $1.5 million following ASIC probe short duration to consumers, in particular •Nimble had not properly assessed the financial circumstances of many consumers before providing them with loans. •Nimble failed to consistently recognise where consumers had obtained repeat loans from payday lenders within a short period of time. •Nimble failed to make proper inquiries of consumers' requirements and objectives, and inquiries that were made were of a general nature and resulted in not enough information for Nimble to fully understand the consumer's needs.

Surveillance 30/03/2016 Deposit takers - Deposit products Australia and New Zealand Banking Group ANZ failed to properly apply some fee reductions and fee ANZ is refunding around 25,000 customers 16-098MR ANZ to refund $5 million to basic 16-098MR waivers for customers who held an ANZ Access Basic account approximately $5 million. account holders for incorrect late payment and who also held an ANZ consumer credit card or ANZ and overlimit fees Everyday Visa Debit Card since 2007. The fees included over limit and late payment fees on consumer credit cards and overdrawn fees on Everyday Visa Debit cards.

Surveillance 30/05/2016 Credit - Other Rescue Credit Pty Ltd ASIC was concerned that Rescue Credit, an online lender, Following intervention by ASIC, Rescue Credit 16-167MR On-line lender to refund $35,000 16-167MR which offers medium amount credit contracts (MACCs), may has repaid in excess of $35,000 to consumers. after over-charging consumers have breached a number of its obligations under the National Consumer Credit Protection Act, including •applying fees and charges to MACCs in the range of 56% to 68%, which are in excess of the permitted annual cost rate of 48%; •providing unsuitable loans to consumers who had defaulted on existing credit contracts or were experiencing financial hardship; and •failing to provide consumers with legally required information the first time they defaulted on a direct debit payment.

Surveillance 10/06/2016 Insurance - Sales practices Allianz Australia Insurance Limited Petplan's website promoted the Petplan insurance product Allianz Insurance compensated 740 Petplan 16-191MR ASIC curbs misleading pet 16-191MR with a headline statement that the policy provided a 100% insurance customers over $231,000 and its insurance advertising rebate on claims for veterinary bills. A small-print disclaimer agent, Petplan Australasia Pty Ltd (Petplan), then qualified this by stating that the 100% rebate excluded a corrected its Petplan advertising. fixed excess and non-claimable items.

ASIC was concerned that the representation about the 100% rebate on veterinary bills created an impression that Petplan customers were entitled to receive the full value of the 100% rebate on claims for veterinary bills. RCD.0015.0003.0307

Public Results & Reports

Review 30/06/2016 Credit - Credit intermediaries Ace Mortgage Market Pty Ltd; Aus Realty ASIC had concerns about advertisements from mortgage The four mortgage broking firms will change 16-212MR ASIC targets misleading Chinese 16-212MR Group Pty Ltd; Apex Finance & Mortgage; brokers targeting Chinese speaking home buyers included their home loan advertising. language home loan advertising Trans Australia Mortgage Finance Pty Ltd •representations in Chinese such as 'lowest fixed rate' and 'no proof of income' – which may be false and misleading statements, or indicate a breach of the responsible lending obligations, •heavy reliance on disclaimers (such as 'terms and conditions apply') that did not explain qualifying terms and conditions in the same advertising; •failure to disclose the required comparison rate when quoting an annual percentage interest rate, •failure to disclose the required warning about the accuracy of the comparison rates, and •failure by their promoters to regularly review the advertisements to ensure accuracy and compliance with the law.

Surveillance 12/07/2016 Insurance - Other Optus Insurance Services Pty Ltd ASIC’s concerns arose after Optus reported a breach about its Optus agreed to refund approximately $2.4 16-222MR Optus to refund more than $2 16-222MR failure to provide certain customers with a Product Disclosure million (including interest) to around 175,000 million to mobile phone insurance customers Statement and a Financial Services Guide for mobile phone Optus mobile customers and to write to following ASIC concerns insurance. Following ASIC's inquiries, Optus reported four around 500,000 customers who may be further breaches. affected. ASIC was concerned that these breaches indicated that Optus had inadequate compliance systems and processes, such as training, monitoring and supervision of staff.

Surveillance 5/09/2016 Deposit takers - Deposit products Australia and New Zealand Banking Group ANZ failed to clearly disclose when certain periodical payment ANZ is refunding $28.8 million to 376,570 16-291MR ANZ to refund nearly $29 million 16-291MR Limited fees would apply. ANZ discovered that it was charging fees on retail accounts, and 17,230 business account. to more than 390,000 accounts as a result of payments made between accounts held in the customer's own unclear fee disclosures name, contrary to its definition of a 'periodical payment'. ANZ subsequently reported the matter to ASIC as a significant breach of its financial services obligations.

Surveillance 8/09/2016 Credit - ADI lending Westpac Banking Corporation Following a customer complaint, Westpac notified ASIC that Westpac refunded approximately $20 million 16-298MR Westpac refunds $20 million in 16-298MR customers may have been incorrectly charged foreign to around 820,000 customers for not clearly credit card foreign transaction fees, as ASIC transaction fees for Australian dollar transactions processed disclosing the types of credit card warns consumers on foreign transaction fees by overseas merchants. Because Westpac's terms and transactions that attract foreign transaction for Australian dollar transactions conditions did not clearly state that foreign transaction fees fees. Westpac has updated its disclosure to would be charged for such Australian dollar transactions, clarify that Australian dollar transactions – Westpac commenced a process to identify impacted when they are processed by overseas customers and provide refunds with interest. merchants – will also attract a foreign transaction fee Surveillance 13/09/2016 Deposit takers - Deposit products Westpac Banking Corporation Westpac failed to waive fees on Westpac and St. George Westpac refunded approximately $9.2 million 16-304MR Westpac refunds $9.2 million after 16-304MR branded savings and transaction accounts over six years. to 161,414 customers. failing to waive bank account fees for eligible customers Surveillance 12/10/2016 Insurance - Claims handling The Colonial Mutual Life Assurance Society Investigation relates to a range of concerns regarding ASIC undertook an extensive range of 16-348MR Update on ASIC's investigation into 16-348MR Limited CommInsure's life insurance business, including its claims enquiries into the concerns raised. See 17- CommInsure handling practices and procedures.This included the use of 443MR for final outcome. medical definitions in trauma policies that were out of date with prevailing medical practice, specifically for heart attack and severe rheumatoid arthritis. Concerns also included potentially misleading or deceptive information in advertising and promotion of life insurance policies to consumers in the period before March 2016.

Surveillance 23/11/2016 Credit - Other S & S Enterprises Pty Ltd ASIC found that Rent to Own Appliances had entered into Cancelled Australian Credit Licence. 16-403MR ASIC cancels credit licence of Rent 16-403MR credit contracts where it charged consumers an annual To Own Appliances interest rate higher than the 48 per cent maximum allowable under the National Credit Act, at a rate of interest as high as 208 per cent. RCD.0015.0003.0308

Public Results & Reports

Surveillance 6/12/2016 Credit - Other BMW Australia Finance Limited ASIC had previously issued 58 infringement notices to BMW BMW Finance entered an EU including a $5M 16-417MR ASIC action sees BMW Finance pay 16-417MR Finance and added a licence condition of an independent community benefit payment and a $77 million in Australia's largest consumer expert to conduct a review in relation to their lending and remediation program of at least $72M. ASIC credit remediation program collection activities. BMW Finance was still to compensate also amended BMW Finance's Australian customers for its responsible lending failures. Credit Licence to extend an external consultant's oversight and introduce 'live review' testing of credit applications.

Surveillance 22/12/2016 Credit - ADI lending Suncorp-Metway Limited ASIC found that between November 2015 and March 2016, Paid infringement notice penalties totalling 16-459MR Suncorp-Metway pays $530,000 16-459MR Suncorp $270,000. Suncorp has implemented a for breaching consumer credit notification •failed to provide consumers with the required written notice $260,000 remediation plan refunding any laws regarding a change in loan repayments; and default fees and any interest customers •failed to provide consumers with a direct debit default incurred and has paid some consumers notice. some consumers were subject to collections activity reasonable compensation where appropriate. Suncorp has written to all consumers who were affected by the failures. Suncorp has also agreed to engage an external compliance consultant to review its processes and procedures in relation to the causes of the breaches. The consultant's report will be provided to ASIC.

Surveillance 2/02/2017 Deposit takers - Deposit products Bankwest, Commonwealth Bank of Australia Failure to link offset accounts to home loan accounts for some Refund approximately 10,800 customers 17-021MR Bankwest refunds almost $5 17-021MR customers who had open accounts between 2007 and June more than $4.9 million. Bankwest has million for overcharging interest on home 2016, resulting in customers being overcharged interest. contacted those customers it has identified as loans being affected to explain the impact and has arranged refunds. Bankwest has since updated its systems and processes, including the automatic linking of new offset accounts.

Surveillance 21/02/2017 Credit - Credit intermediaries Inhouse Finance Group (Sydney) Pty Ltd Charged consumers an interest rate higher than the maximum Refund more than $400,000 to 177 17-037MR Car loan provider Inhouse Finance 17-037MR allowable under the National Consumer Credit Protection Act consumers. Group to repay more than $400,000 to 2009. ASIC accepted an enforceable undertaking consumers which will require Inhouse to • undertake a remediation program, overseen by an independent auditor, who will report to ASIC to ensure that affected consumers do not pay more than the maximum allowable interest rate of 48 per cent, and make refunds where appropriate; and • engage an independent expert to review its current business operations and compliance with the consumer credit regime and report to ASIC accordingly. RCD.0015.0003.0309

Public Results & Reports

Formal investigation (an investigation 23/03/2017 Insurance - Claims handling The Colonial Mutual Life Assurance Society ASIC conducted an extensive investigation and examination of Key outcomes of ASIC's investigation are 17-076MR ASIC releases findings of 17-076MR commenced pursuant to s13 ASIC Act or s247 Limited CommInsure's practices outlined in 16-348MR including 1. CommInsure had trauma policies with CommInsure investigation NCCP Act) reviewing over 60,000 documents and interviewing staff. ASIC medical definitions that were out of date obtained files from dispute resolution schemes, spoke to with prevailing medical practice, specifically consumer advocacy organisations, and obtained independent for heart attack and severe rheumatoid medical and legal advice. arthritis. However, this was not against the law. 2. CommInsure has updated its medical definitions, including for heart attack and severe rheumatoid arthritis and apply it back to May 2014. 3. No evidence to support allegations that CommInsure claims managers applied undue pressure on doctors to change or alter their medical opinions. 4. ASIC identified a number of areas for improvements in claims handling processes. Areas of improvement were also identified by Deloitte in their independent review. 5. ASIC was continuing to investigate concerns that CommInsure's advertising and promotion of life insurance policies to consumers contained potentially misleading or deceptive information in the period before March 2016.(see 17-443MR for that outcome).

Surveillance 28/03/2017 Credit - Credit intermediaries Emparo Enterprises Pty Ltd, Quick Cash Failed to hold membership of an approved external dispute Cancellation of Australian credit licences. 17-087MR ASIC cancels credit licences of 17-087MR Advance Pty Ltd, Jarrod Tuendemann resolution scheme. Emparo Enterprises Pty Ltd and Quick Cash Advance Pty Ltd Surveillance 31/03/2017 Credit - ADI lending Citigroup Pty Ltd Failure to properly disclose that credit card international Refunded approximately $5 million to around 17-093MR Citibank refunds $5 million in 17-093MR transaction fees apply to Australian dollar transactions where 230,000 customers. credit card international transaction fees, as the merchant uses an entity based overseas to process its ASIC warns consumers about international transactions. transaction fees Surveillance 3/05/2017 Credit - Other Capital Debt Solutions Australia Pty Ltd, Debt Misleading advertising by debt resolution firms Capital Debt Solutions has paid an 17-130MR ASIC crackdown on misleading 17-130MR Assist Aust Pty Ltd, Bankruptcy Experts Pty Ltd •Capital Debt Solutions claiming it was 'trusted and infringement notice of $10,800; Debt Assist advertising by debt management firms recommended by more than 6,000 Australians' when there Aust and Bankruptcy Experts have removed was no basis for this claim; misleading statements online. •Capital Debt Solutions and Debt Assist Aust claiming their debt agreements were 'Government Approved'; •Bankruptcy Experts had testimonials on their websites from customers that were unable to be substantiated. Surveillance 24/05/2017 Credit - Credit intermediaries Motor Finance Wizard, Affordable Car Loan Failure to meet responsible lending obligations when ASIC has accepted an enforceable 17-150MR Motor Finance Wizard to pay over 17-150MR Pty Ltd, DTGN1 Pty Ltd, DTGQ1 Pty Ltd, DTGS1 providing consumer leases and loans for second-hand cars. undertaking from Motor Finance Wizard, $11 million in remediation over responsible Pty Ltd, DTGV1 Pty Ltd Motor Finance Wizard failed to make reasonable inquiries which includes lending concerns about consumers' income and expenses; and to take •over $11 million in refunds and write-offs to reasonable steps to verify consumers' expenses. 1,511 customers •$100,000 payment to a community benefit program funding consumer initiatives •re-assessing each consumer's capacity to make payments under the consumer lease or loan under a remediation program overseen by an independent auditor who will report to ASIC •giving affected consumers the option to remain in or terminate the consumer lease or loan •allowing consumers to keep the car at the end of the lease term, if they elect to keep the lease •engaging an independent expert to review its current business operations and compliance with the consumer credit regime and report to ASIC RCD.0015.0003.0310

Public Results & Reports

Review 20/06/2017 Insurance - Sales practices Virginia Surety Company, Inc. ASIC found that Virginia Surety had stated that the life cover in Refund over $330,000 in insurance premiums 17-189MR Virginia Surety to refund over 17-189MR the add-on insurance policies was underwritten by TAL Life to more than 500 customers and have a $330,000 to add-on insurance customers Limited, without TAL's permission. This meant there was a risk condition imposed on its Australian financial that consumers would have a life claim rejected, even though services licence for improperly selling they paid for the policy. consumer credit insurance policies. Where a consumer has a valid claim under an affected add-on insurance policy, TAL agreed to honour the life cover and pay the claim, even though the cusomer will receive a refund from Virginia Surety.

Surveillance 20/07/2017 Credit - Other King Quartet Pty Limited (trading as The Failure to meet responsible lending obligations when renting Paid $100,000 to regional customers. After 17-243MR The Rental Guys refund more than 17-243MR Rental Guys) white goods and furniture. Concerns that The Rental Guys July 2017, unclaimed refunds will be paid to a $100,000 to vulnerable consumers failed to make proper inquiries, conduct verification and carry community organisation to be approved by out unsuitability assessments when entering certain ASIC. Eligible customers will still be able to customers into new contracts. The customers are mainly from claim a refund after this period. regional Indigenous communities.

Surveillance 26/07/2017 Deposit takers - Deposit products MyState Bank Limited Following a customer complaint, and after a review of its Refunded more than $230,000 in over- 17-249MR MyState refunds more than 17-249MR accounts, MyState found that some customers did not have charged interest and fees to more than 1,040 $230,000 of over-charged fees and interest their offset accounts linked to their mortgages (meaning they customers with mortgage offset accounts. were over-charged interest); were charged 'offset account' MyState has worked with ASIC to improve its fees after their loan had been discharged or changed to a kind internal processes, including by ensuring that could not be linked to an offset account. employees have appropriate account administration training.

Review 2/08/2017 Insurance - Sales practices QBE Insurance (Australia) Ltd Customers mis-sold QBE Guaranteed Asset Protection and QBE to refund more than 35,000 add-on 17-258MR QBE refunds $15.9 million in add- 17-258MR Consumer Credit Insurance through car dealerships between insurance customers up to $15.9 million. on insurance premiums 2011 and 2017 where the insurance provided little or no benefit. Surveillance 14/08/2017 Insurance - Sales practices Commonwealth Bank of Australia Commonwealth Bank sold 'CreditCard Plus', CCI insurance for Refund over 65,000 customers approximately 17-268MR Commonwealth Bank to refund 17-268MR credit card repayments, to 65,000 customers who were $10 million, and also approximately $586,000 over $10 million for mis-sold consumer credit unlikely to meet the employment criteria and would be unable in premiums to 10,000 customers. insurance to claim under the insurance. Commonwealth Bank also over- insured around 10,000 customers for Home Loan Protection consumer credit insurance taken out with a Commonwealth Bank home loan, resulting in the over-charging of premiums.

Review 24/08/2017 Credit - ADI lending Commonwealth Bank of Australia, National Failure to take sufficient steps to ensure standard form small The banks have now agreed to 17-278MR Big four banks change loan 17-278MR Australia Bank, Westpac Banking Corporation, business loans comply with obligations under the unfair specific changes with ASIC to eliminate unfair contracts to eliminate unfair terms Australia and New Zealand Banking Group contract terms law. terms from their contracts. The four banks Limited will shortly commence contacting all relevant small business customers who entered into or renewed a loan from 12 November 2016, about the changes to their loans.

Surveillance 27/10/2017 Credit - Credit intermediaries William Barry Young Failed to hold membership of an approved external dispute Cancellation of Australian credit licence. 17-361MR ASIC cancels Cairns car dealer's 17-361MR resolution scheme, and therefore ineligible to hold a credit credit licence licence. Surveillance 9/11/2017 Credit - ADI lending Citigroup Pty Ltd Failure to refund customers when credit card accounts were Citibank will refund more than $3.3 million to 17-377MR Citibank refunds $3.3 million to 17-377MR closed with an outstanding credit balance. around 39,500 current and former customers credit card customers Citibank is writing to eligible customers by 30 November 2017 to advise that they will receive a refund of the credit balance with interest. Citibank has strengthened its systems so that cheques for credit balances are issued to customers automatically when they close their accounts. RCD.0015.0003.0311

Public Results & Reports

Surveillance 9/11/2017 Deposit takers - Other Citigroup Pty Ltd Misstated the bank’s obligations around unauthorised Citibank has refunded around 4,000 current 17-376MR Citibank refunds $1 million 17-376MR transactions on customers’ accounts. Citibank had refused and former customers more than $1 million. following misleading statements made to customers’ requests to investigate unauthorised transactions Citibank has also reviewed its processes to customers about their rights under the because it claimed the requests were made outside the time ensure there are no further ePayments Code period permitted under the Visa and MasterCard scheme miscommunications about its obligations chargeback protections. under the ePayments Code.

Surveillance 29/11/2017 Insurance - Sales practices Youi Pty Ltd Concerns about Youi's home and car insurance sales practices. Youi refunded 102 consumers approximately 17-411MR Youi pays $164,000 for poor 17-411MR Some sales staff were charging consumers for insurance $14,000 in total, and will pay $150,000 as a insurance sales practices policies without their consent to purchase. This included community benefit payment to the Financial where consumers only made an inquiry to get an insurance Rights Legal Centre's Insurance Law Service. quote. Concerns that Youi's remuneration and bonus EY were engaged to conduct an independent structures incentivised sales staff to prioritise sales ahead of review of Youi's risk culture and sales consumers' interests. practices and will conduct a follow-up review to assess the implementation and test effectiveness of the recommendations made.

Surveillance 14/12/2017 Credit - ADI lending Westpac Banking Corporation Error in Westpac's systems meant that some interest-only Westpac will provide 13,000 owner-occupiers 17-436MR Westpac refunds $11 million to 17-436MR home loans for owner occupiers who had an interest-only loan who have interest-only home loans with an interest-only customers with Westpac between 1993 and August 2016 were not interest refund, an interest rate discount for automatically switched to principal and interest repayments at the remaining term of the loan, or both. The the end of the contracted interest-only period. As a result, refunds amount to $11 million for 9,400 of affected customers did not start paying any principal on their those customers. ASIC and Westpac are loans at the time agreed with the bank, and now have less continuing to discuss an appropriate time to repay the principal amount of their loans. These remediation program for investor customers customers would also have paid more in interest. with interest-only loans affected by the same system error.

Review 19/12/2017 Insurance - Sales practices Swann Insurance Swann mis-sold six different add-on insurance products Swann agreed to offer to refund 67,960 17-446MR Swann Insurance refunds $39 17-446MR through car and motorbike dealerships that were of low or no customers $39 million in premiums paid. million in add-on insurance premiums value. Swann will be writing to affected consumers until 30 Sptember 2018, after which time it will make a community benefit payment based on the refunds that have not been claimed. Surveillance 19/12/2017 Credit - ADI lending National Australia Bank Between April 2010 and August 2017, NAB failed to link some NAB has refunded $1.7 million to 966 home 17-444MR NAB refunds $1.7 million for 17-444MR offset accounts to broker originated loans, which resulted in loan customers so that they are only charged overcharging interest on home loans those customers overpaying interest on their home loan. interest that would have been payable had the mortgage offset account been properly linked from the commencement of the home loan. NAB has also engaged PWC to review the remediation approach and to ensure NAB's compliance systems will prevent a similar error from occuring in future.

Surveillance 21/12/2017 Insurance - Sales practices Hallmark General Insurance Company Ltd Mis-sold involuntary unemployment insurance to personal Latitude Finance will provide refunds of 17-457MR Latitude Insurance refunds almost 17-457MR (trading as Latitude Insurance) loan customers who were ineligible to claim because they did approximately $1.1 million to 905 customers $1.1 million for poor consumer credit not work the required minimum 20 hours per week. by insurance sales and claims handling • Refunding premiums and interest to Incorrectly denied claims to credit card CCI customers because personal loan involuntary unemployment it failed to properly apply the exclusion definition of 'casual insurance customers who were ineligible to employment.' claim. Customers also have the option to retain their policy and will not be subject to the minimum working hours condition for past or future claims; and • Paying claim amounts and interest to credit card CCI customers that had incorrectly denied claims. RCD.0015.0003.0312

Public Results & Reports

Surveillance 22/12/2017 Credit - Credit intermediaries Wealth First Lending Pty Ltd Failed to have adequate arrangements in place to ensure ASIC cancelled the Australian credit licence of 17-462MR ASIC cancels Wealth First credit 17-462MR compliance with its general conduct obligations under the mortgage broker, Wealth First Lending Pty licence National Consumer Credit Protection Act 2009 (National Credit Ltd. Act); comply with the conditions on its licence; and lodge its annual compliance certificate.

In addition, failed to respond to a Notice issued by ASIC requiring the company to lodge a written statement about its credit activities.

Review 1/03/2016 Insurance - Sales practices Industry - home insurers Following a survey of 23 home insurance brands covering 12 In response to ASIC's recommendations from 16-053MR ASIC calls for further 16-053MR insurers, ASIC is calling for further improvements across the October 2014, insurers have made a range of improvements from home insurers sector to help consumers make good decisions about their improvements. home insurance cover. Review 29/02/2016 Insurance - Sales practices Industry - add on products in car finance ASIC's report, The sale of life insurance through car dealers ASIC reviewed five major life insurers, 16-049MR Insurers take car buyers for a ride 16-049MR Taking consumers for a ride (REP 471), found that life estimated to make up 90 per cent of this insurance sold through car dealers is often substantially more market, and obtained detailed data about the expensive than comparable life insurance products, provides way in which these products operate. very low claim payouts relative to premiums, and is sold by car dealers who are paid high commission by insurers on sales.

Review 21/01/2016 Credit - ADI lending Industry - margin lenders ASIC reviewed the lending practices of six margin lenders, Following an ASIC review, margin lenders 16-010MR Margin lenders improve lending 16-010MR covering 90% of the market, and found that five of the six have moved to better address the different standards following ASIC review margin lenders approved 'double geared' margin loans. levels of risk for investors seeking margin loans, especially in relation to double geared margin loans. Review 19/11/2015 Insurance - Sales practices Industry -General Insurance Consumers reported that they had already purchased Following an ASIC review, six insurers have 15-345MR ASIC drives better disclosure of 15-345MR insurance with another insurer by the time they discovered agreed to better inform consumers about automatic renewal of car insurance that their previous car insurer had automatically renewed the their car insurance renewal practices to insurance cover. In other cases, consumers reported having reduce the risk of consumers being caught by their bank account overdrawn by unexpected direct debits. surprise by automatic renewals.

Review 29/10/2015 Insurance - Sales practices Industry - funeral insurance Funeral insurance premiums tend to rise steeply for the over- 'ASIC has made a number of 15-315MR ASIC report on funeral insurance 15-315MR 50s and that many people cancel their policy in the first few recommendations for insurers to assist highlights increasing premiums and high years, losing the benefit of premiums already paid. consumers better understand the product cancellation rates they are purchasing. We also urge buyers of funeral insurance to better inform themselves about the product and ensure they have a clear understanding of the premiums to be paid long-term

Review 20/08/2015 Credit - ADI lending Industry - banks and non-banks ASIC’s review of more than 140 consumer loan files from bank ASIC released a report that found lenders 15-220MR Lenders to improve standards 15-220MR and non-bank lenders identified providing interest-only mortgages need to lift following interest-only loan review •In 40% of files reviewed, the affordability calculations their standards to meet important consumer assumed the borrower had longer to repay the principal on protection laws. the loan than they actually did •In over 30% of files reviewed, there was no evidence that the lender had considered whether the interest-only loan met the borrower's requirements •In over 20% of files reviewed, lenders had not considered the borrower’s actual living expenses when approving the loan, but relied instead on expenditure benchmarks.

Review 27/07/2015 Insurance - Sales practices Industry - funeral insurance Indigenous consumer advocates and legal groups regularly tell Compliance officers from Australia's 15-195MR ASIC helps Indigenous consumers 15-195MR ASIC that a lack of understanding and knowledge about the consumer protection agencies will be avoid a funeral rip-off features and range of funeral products leads to consumers reviewing contracts for various funeral signing up to products that are expensive and do not suit their products and scrutinising claims made in needs advertising and promotions. RCD.0015.0003.0313

Public Results & Reports

Review 2/06/2015 Insurance - Sales practices General insurance ASIC’s review of 17 credit card brands, issued by a range of Following the review, the credit card issuers 15-136MR ASIC welcomes improved credit 15-136MR credit card issuers, including the big four Australian banks, and their insurers have agreed to make the card travel insurance disclosure followed complaints made to ASIC from the general public and following improvements disputes data published by the Financial Ombudsman Service •clarify when the insurance cover is (FOS). These complaints included uncertainty around who was 'activated,' particularly where a minimum covered by the policy, the extent of exclusions and eligibility spend threshold needs to be met to activate requirements. the insurance cover •clarify if and when the use of reward points to pay for travel costs will activate the insurance cover •clarify whether supplementary cardholders can benefit from the policy •provide clearer and more prominent information about the documentation needed to make a claim.

Review 26/02/2015 Insurance - Claims handling Motor vehicle insurance This furthers the work of a previous report published by ASIC ASIC has released a report shedding light on 15-040MR ASIC sheds light on no-claims 15-040MR in relation to claims handling and internal dispute resolution in the operation of no-claims discount (NCD) discount schemes motor vehicle insurance, where we identified some issues schemes for motor vehicle insurance policies. concerning the accuracy and clarity of disclosure in relation to The report found that these schemes do not NCD schemes see Report 245 Review of general insurance operate in the way consumers might claims handling and internal dispute resolution procedures reasonably expect. (REP 245). ASIC found that NCD schemes create an impression that claims history has been separated from other factors that determine the price of an insurance policy. ASIC found that this is not the case in practice, and consumers may not understand the full impact a claim may have on their premium.

Review 9/12/2014 Credit - ADI lending Banks and non-bank lenders The review follows concerns by regulators about higher-risk ASIC will conduct a surveillance into the 14-329MR ASIC to investigate interest-only 14-329MR lending, following strong house price growth in Sydney and provision of interest-only loans as part of a loans Melbourne. broader review by regulators into home- lending standards. Through the Council of Financial Regulators, ASIC, APRA, the Reserve Bank of Australia (RBA) and the Treasury are working The probe will look at the conduct of banks, together to monitor, assess and respond to risks in the housing including the big four, and non-bank lenders market. and how they are complying with important consumer protection laws, including their Interest-only loans as a percentage of new housing loan responsible lending obligations. approvals by banks reached a new high of 42.5% in the September 2014 quarter (this includes owner-occupied and housing investment loans) Surveillance 28/10/2014 Insurance - Other Suncorp The breaches reported by Suncorp included failure to provide Suncorp Group (Suncorp) has finalised the 14-284MR Suncorp finalises review of 14-284MR promoted discounts to independent review and remediation of its compliance systems •eligible multi-policy general insurance customers compliance systems requested by ASIC. The •some Seniors Card holders on their home and contents Board of Suncorp has provided ASIC with a policies, and report endorsing the completion of its system •some customers who purchased contents insurance with a remediation program. portable cover option online.

The breaches also included failure to disclose significant policy upgrades to some life insurance customers. RCD.0015.0003.0314

Public Results & Reports

Review 28/10/2014 Insurance - Sales practices Home insurance The report reviews and makes findings in relation to the sale ASIC has released two reports exploring 14-285MR ASIC sets out areas for 14-285MR of home building insurance through telephone sales (which consumer experiences with the sale of home improvement in home insurance sales included the review of 400 telephone sales call recordings), building insurance. practices online sales, online calculators, advertising and promotional The two reports are materials, and staff training and monitoring. •Report 415 Review of the sale of home insurance (REP 415), and ASIC's review also found a number of examples of potential •Report 416 Insuring your home Consumers’ misconduct in relation to the advertising of home insurance experiences buying home insurance (REP products. ASIC is currently communicating with some insurers 416). and is considering undertaking further regulatory action with other relevant insurers, in relation to these issues.

Review 5/09/2013 Insurance - Sales practices General insurance ASIC’s review identified concerns about disclosure in some pet After ASIC raised these concerns with the 13-249MR ASIC welcomes improved pet 13-249MR insurance PDSs and promotional online material. relevant pet insurers and distributors, they insurance disclosure agreed to address the issues by improving disclosure in the PDSs and promotional materials, including websites.

Review 31/07/2013 Insurance - Claims handling Consumer credit insurance Consumers sold a policy without being made aware at the ASIC report found that there is significant 13-195MR Claiming on consumer credit 13-195MR time that important exclusions and conditions on their policy room for improvement on consumers' claims insurance – a mixed bag could or did apply to them, and generally thought that if their experiences for credit card-related consumer credit card provider had offered them their policy then they credit insurance (CCI). This includes cases must be covered. where consumers received a payment or benefit under their policy.

Review 4/07/2013 Deposit takers - Deposit products Authorised Deposit Taking Institutions Following a previous report ASIC was concerned about ASIC released a report that highlights 13-161MR ASIC releases follow-up term 13-161MR disclosure to investors about the risk of dual pricing and about improved industry practice and better deposit report what will happen when their term deposit matures. outcomes for investors in relation to the automatic rollover of term deposits. The report reveals that consumer outcomes on rollovers of term deposits have improved by billions of dollars. Review 13/03/2013 Credit - Credit intermediaries Mortgage brokers ASIC found the licensees implemented various monitoring and An ASIC review has prompted significant 13-046MR ASIC review sharpens credit 13-046MR supervision processes prior to the review, ASIC also identified improvements to credit licensees' practices licensees' supervision of representatives a number of compliance risks, including licensees for ensuring their mortgage broker engaged in mortgage broking representatives' compliance with national •not being able to identify all instances of credit assistance responsible lending laws. being provided by each of their credit representatives •not having direct access to preliminary assessments, or the Improvements include licensees documents that form the basis of the assessment, and •commencing regular formal reviews of their •not having appropriate practices in place to undertake representatives' compliance compliance reviews of their credit representatives. •upgrading IT systems to better track credit assistance provided by their representatives •ensuring they have direct access to their representatives' preliminary assessments of whether a credit contract will be unsuitable for a consumer and all documents supporting those assessments, and •considering a broader range compliance risks when undertaking compliance reviews. RCD.0015.0003.0315

Public Results & Reports

Review 11/10/2017 Credit - ADI lending Lenders and mortgage brokers ASIC conduced a targeted industry surveillance examining ASIC found that Australia's major banks have 17-341MR ASIC update on interest-only home 17-341MR whether lenders and mortgage brokers are inappropriately cut back their interest-only lending by $4.5 loans recommending more expensive interest-only loans. billion over the past year. However, other lenders have partially offset this decline by increasing their share of interest-only lending.

ASIC's interest-only lending review has also found •Borrowers who used brokers were more likely to obtain an interest-only loan compared to those who went directly to a lender •Borrowers approaching retirement age continue to be provided with a significant number of interest-only owner-occupier loans

ASIC has now moved into the second stage of its review, and will be reviewing individual loan files from both lenders and mortgage brokers.

Review 1/08/2017 Credit - ADI lending Authorised Deposit Taking Institutions Following regulatory action taken in the US against Wells While not identifying systemic unlawful 17-254MR ASIC reports on Australian bank 17-254MR Fargo ASIC wanted to ensure similar conduct was not conduct, the results of the audits indicated audits following Wells Fargo misconduct •ANZ occurring in Australia. that improvements should be made to the •Bank of Queensland sale of consumer credit insurance (CCI), •Citibank The misconduct at Wells Fargo involved widespread secret which is leading to further action announced •Commonwealth Bank opening of accounts by employees in order hit sales targets today (refer 17-255MR). •HSBC spurred by compensation incentives. In most cases, customers •NAB were completely unaware that the accounts had been opened. •Suncorp •Westpac

Review 16/05/2017 Credit - ADI lending ANZ,Commonwealth Bank, NAB, Westpac Potential unfair contract terms such as 'entire agreement The Big 4 banks have committed to remove 17-139MR ASIC and ASBFEO hold banks to 17-139MR clauses', unilater variation clauses, non-monetary defualt and/or limit these clauses. account on unfair contract terms clauses and broad indemnity clauses in small business contracts. The banks have agreed to contact all small business customers who entered into or renewed a loan from 12 November 2016, about the changes to their loans. In many cases, banks have agreed to implement the changes so that they apply to all existing applicable small business customers.

Review 3/04/2017 Credit - ADI lending • Australia and New Zealand Banking Group Targeted industry surveillance to examine whether lenders ASIC will shortly commence a surveillance to 17-095MR ASIC announces further measures 17-095MR Limited and mortgage brokers are inappropriately recommending identify lenders and mortgage brokers who to promote responsible lending in the home • Bendigo and Adelaide Bank Limited more expensive interest-only loans. are recommending high numbers of more loan sector • Commonwealth Bank of Australia expensive interest-only loans. Data will be • Firstmac Limited gathered using ASIC's compulsory • ING Bank (Australia) Limited information-gathering powers from large • Macquarie Bank Limited banks, other banks, mutual banks and non- • National Australia Bank Limited bank lenders. • Pepper Group Limited.

Review 9/03/2017 Credit - ADI lending Banks and non-bank lenders Potential unfair contract terms such as 'entire agreement Australian lenders including the country's big 17-056MR ASIC and ASBFEO join forces to 17-056MR clauses', unilater variation clauses, non-monetary default four banks have substantial work to do to ensure bank lenders meet unfair contract clauses and broad indemnity clauses in small business eliminate unfair terms from their loan laws contracts. agreements. ASIC and the ASBFEO reviewed small business loan contracts from eight lenders and found there’s been a failure to take sufficient steps to comply with their new obligations under unfair contract terms (UCT) legislation. RCD.0015.0003.0316

Public Results & Reports

Review 3/03/2017 Insurance - Sales practices Industry - add on products in car finance ASIC implemented the prohibition because of poor outcomes ASIC announced today that it will prohibit 17-049MR ASIC acts to address unfair 17-049MR for consumers and because flex commissions operate in a way 'flex commissions' in the car finance market. outcomes from flex commissions in car that is unfair under the National Consumer Credit Protection The prohibition will still allow lenders to pay finance market Act 2009 (National Credit Act). other types of commissions to car dealers.

Flex commissions allow car dealers to arrange car loans at a higher interest rate than the lowest available rate (700 basis points higher – or more), and thereby earn a much higher commission. As a result, some consumers can end up paying thousands of dollars more in interest charges over the life of the car loan.

Surveillance 22/12/2016 Insurance - Sales practices ANZ OnePath ASIC required an independant review following a significant ASIC confirmed the completion of an 16-457MR ANZ's OnePath implements 16-457MR number of breaches by the ANZ Group in relation to its life independent review by PwC of Australia and improvements arising out of an independent insurance, general insurance, superannuation and funds New Zealand Banking Group's (ANZ) compliance review overseen by ASIC management activities operated through its wholly-owned OnePath's compliance functions that was OnePath group of companies. announced in March 2016.

Review 12/10/2016 Insurance - Claims handling Life insurers ASIC sought to identify whether there were systemic issues ASIC found that, while life insurers are paying 16-347MR ASIC issues industry review of life 16-347MR across the industry, as well as concerns relating to particular the considerable majority of claims, there are insurance claims products or firms. The review also assessed whether industry significant shortcomings in a number of areas data indicated the need for further, more targeted of life insurance claims handling, and there is surveillance work. a clear need for public reporting on life insurance claims outcomes – at an industry and individual insurer level.

Review 14/09/2016 Credit - Credit intermediaries Mortgage brokers Review of interest-only home loans Mortgage brokers’ ASIC identified practices that place brokers at 16-307MR ASIC reports on mortgage brokers' 16-307MR inquiries into consumers’ requirements and objectives' on the increased risk of non-compliance with their responsible lending practices in relation to responsible lending practices of 11 large mortgage brokers responsible lending obligations, and interest only home loans with a particular focus on how they inquire into and record identified opportunities for brokers to consumers' requirements and objectives. improve their practices.

It also examined how the changes implemented by lenders in Australia's home loans industry has improved response to the findings from ASIC’s report into interest-only its performance over the past year, adopting home loans from 12 months ago last year (refer Report 445) better 'responsible lending' practices, the have flowed through to mortgage brokers. review has, though there is still room for improvement. RCD.0015.0003.0317

Public Results & Reports

Review 12/09/2016 Insurance - Sales practices Consumer credit insurance sold in car yards ASIC found that consumers are being sold expensive, poor Insurers have notified ASIC that they intend 16-301MR ASIC puts insurers on notice to 16-301MR value products; products that provide consumers very little to to implement a 20 per cent cap on address serious failures in the sale of add-on no benefit; and a sales environment with pressure selling, very commissions, which is a positive step. insurance through car dealers high commissions and conflicts of interest. (In report 492) Insurers in this market will be also providing ASIC with data on prices, premiums and claims on a regular basis so that we can monitor the impact of changes on consumers

The key commitments we are seeking from insurers are •A significant reduction in the amount of commissions paid to anyone who sells an add on insurance product through car dealers •A significant improvement in the value offered by these products, through substantial reductions in price and better product design and cover •A move away from single upfront premiums that are financed through the loan contract, given the adverse financial impact this has on consumers •Providing refunds to consumers who have been sold policies in circumstances that were unfair, such as where a policy has been sold to a consumer who was never eligible to claim under the policy

Review 5/12/2012 Insurance - Sales practices Insurance and credit comparison websites ASIC identified a number of concerns with some comparison ASIC warned operators of insurance and 12-304MR ASIC warns comparison websites 12-304MR websites, including that some of the websites credit comparison websites of the need to •only compare a limited number of brands/products from a ensure they comply with their obligations limited number of providers. This may not be clearly disclosed under consumer protection laws. which creates the impression that the extent of comparison is much broader than it actually is In light of the growth in comparison websites, •use ‘ratings’ and ‘rankings’ for products without a clear ASIC is focused on ensuring they are explanation of the basis for those ratings and rankings providing accurate information and not •refer to ‘special offers’ and ‘featured products’ without misleading consumers. properly explaining the basis of selection of certain products. RCD.0015.0003.0318

Public Results & Reports

Review 18/09/2012 Credit - ADI lending Banks and non-bank lenders ASIC conducted a review to assess industry's compliance with 12-231MR ASIC reports on review of early 12-231MR the law in this area following the publication of ASIC's ASIC’s report identifies factors that increase termination fees for residential loans entered guidance in Regulatory Guide 220 Early termination fees for the likelihood of an early termination fee into before 1 July 2011 residential loans unconscionable fees and unfair contract being declared unconscionable, and makes terms (RG 220). The 20 lenders reviewed charged an early recommendations for lenders on how they termination fee on approximately 75,000 occasions between 1 can reduce the likelihood of this happening. July 2010 and 15 February 2011 and there were approximately Fees identified as being at increased 1.5 million loans on which an early termination fee would likelihood of being declared unconscionable have been payable as at 15 February 2011. included fees which

•did not reduce over time; •were calculated by reference to the loan amount; and •did not account for lenders' recovery (or ‘clawback’) of commissions paid to mortgage brokers when a loan is terminated early.

As a result of the review, several lenders made changes to their fee structures. Some lenders also indicated they will be reviewing early termination fees to be charged in the future on a loan by loan basis to ensure that no individual consumer is overcharged.

Review 25/05/2012 Deposit takers - Other Banks and ATM providers ASIC’s Indigenous Outreach Program participated in a Treasury ASIC welcomed moves by the Australian 12-104MR ASIC welcomes remote community 12-104MR and Reserve Bank of Australia taskforce, set up in response to banking sector and two major independent fee-free ATM transactions the release of Financial Counselling Australia’s report ATM ATM providers to provide free ATM Fees in Indigenous Communities. The taskforce observed first transactions at 76 ATMs in remote hand the limited services banking facilities available to Indigenous communities. Indigenous consumers in rural and remote Indigenous communities and investigated the difficulties they faced in conducting basic transactions.

Review 3/02/2012 Insurance - Sales practices Funeral insurance ASIC is specifically monitoring funeral insurance marketing to Key findings of the research, published today 12-170MR How will you pay for your funeral? 12-170MR ensure consumers are not faced with misleading or deceptive in Report 292 Paying for funerals how practices. consumers decide to meet the costs (REP 292) include We explored consumer awareness and understanding of three •Many people did not understand the overall common products that consumers use to meet future funeral cost of funerals. costs •People were not aware of the alternative ways to meet funeral costs, such as prepaying by instalments or buying funeral bonds. •The term ‘funeral plan’ was used to describe the three different funeral products in advertising material, making it difficult for consumers to differentiate between them. •Many people did not understand some of the key features of funeral insurance increasing premiums, total cost when compared to the real cost of a funeral, and what will happen if they miss payments. •People struggled to find clear information about the different types of funeral products and the features of each type. RCD.0015.0003.0319

Public Results & Reports

Review 17/11/2011 Credit - Credit intermediaries Mortgage brokers ASIC undertook this review to assess how the home loan While the review didn’t find evidence of 11-259MR ASIC reports on review of 11-259MR industry was complying with the new responsible lending equity stripping, it identified some risks of mortgage brokers’ responsible lending obligations in the early days of the regime. non-compliance with the responsible lending conduct requirements, particularly where credit Loans promoted as low doc were a particular focus given the assistance was provided for loans promoted role these products played in the lead up to the US sub-prime as low documentation (low doc). crisis and in equity stripping as identified in ASIC’s March 2008 report, Protecting Wealth in the Family Home.’ (REP 119) ASIC followed up specific concerns with individual brokers and will be worked with industry bodies to promote compliance more widely

Review 19/10/2011 Insurance - Sales practices Consumer credit insurance ASIC conducted a review following compliance action that There are significant improvements that can 11–224MR ASIC seeks improvement in CCI 11–224MR ASIC had taken against three companies that mis-sold CCI. In be made to the practices of banks, credit sales practices light of these specific investigations ASIC wanted to assess unions and building societies that offer how CCI is sold across the industry more broadly. consumer credit insurance (CCI) to reduce the risk the product may be mis-sold, an ASIC review has found.

The review has prompted ASIC to issue 10 recommendations to improve the way in which CCI is sold. The recommendations cover the areas of sales practices, disclosure, training programs and monitoring systems.

Review 17/08/2011 Credit - Other Credit providers The warning follows a credit provider voluntarily agreeing to ASIC has warned businesses and companies 11-174MR Credit licensees warned against 11-174MR stop using ASIC’s name and logo on its website after ASIC licensed by ASIC to not use the ASIC name or misuse of ASIC name and logo found the use of the name and logo breached its intellectual logo when promoting their businesses or the property and was potentially misleading. fact that they hold a licence with ASIC.

Review 10/08/2011 Insurance - Claims handling General insurance ASIC’s review of more than 1.2 million claims made during The review also makes a number of 11–163MR ASIC reviews motor vehicle 11–163MR 2009 found only 3317 (0.3%) were formally denied. The report recommendations including that insurers insurance claims also found a relatively low level of claims-related complaints should record information relating to both with 5885 of the total 26,500 complaints received by denied and withdrawn claims, and should participating insurers in 2009 being progressed to an internal regularly analyse and review that dispute resolution team. information. In addition to the very small percentage of claims that were denied, more than 7% of claims made in 2009 were withdrawn. Surveillance 10/12/2010 Deposit takers - Deposit products Rock ASIC raised concerns with The Rock Building Society Limited As a result of ASIC enquiries, The Rock has 10-267AD ASIC works with the Rock Building 10-267AD (The Rock) about charging errors on certain accounts. agreed to implement improved compliance Society to correct charging errors systems. This included the incorrect charging of fees on some fee-free accounts, incorrect charging of interest on certain loan The Rock is giving refunds and/or interest accounts and the incorrect charging of default fees in relation adjustments to affected deposit and loan to customer repayments made on some loan accounts. accounts. RCD.0015.0003.0320

Public Results & Reports

Surveillance 15/09/2010 Credit - ADI lending Abacus Australian Mutuals The entity reviewed its industry advertising campaign – ‘It all While Abacus maintain that the 10-193AD Abacus reviews advertising in 10-193AD comes back to you’ – in response to ASIC concerns that advertisements in their original form were response to ASIC’s concerns consumers were at risk of being misled about the nature of not misleading, they agreed that in future the savings in the advertisements. advertisements they would clearly disclose the types of rates used in any comparison The Abacus advertising campaign included representations, by and the selective nature of any comparison. way of a comparison with major banks, about home loan Where a claim is made about future savings, savings that could be achieved with a credit union or building Abacus will disclose the fact that interest society. rates will change in the future, and that any potential savings may be affected by such change.

Abacus will also ensure that any comparisons have a reasonable basis, including the appropriate selection of points in time – and the use of reasonable assumptions – when calculating example savings.

Review 1/03/2010 Deposit takers - Deposit products Authorised Deposit Taking Institutions ASIC conducted this review against the background of The review confirmed that the Australian 10-37AD ASIC releases results of term deposit 10-37AD significant growth in term deposits, with total term deposits in term deposit market is strong and working health check Australian Deposit Institutions (ADIs) growing by over 20 per well, we have made a number of cent from June 2008 to June 2009. recommendations to industry to improve the advertising and disclosure around term ASIC’s review found that seven out of the eight ADIs reviewed deposits promoted their term deposits by advertising only the highest term deposit rates, while maintaining lower rates for all other deposit periods. The periods on which the advertised higher rates were offered varied over time.

Surveillance 10/09/2009 Credit - Credit intermediaries Streetwise Group of Companies The foreclosure proceedings, seeking to enforce ‘Low-Doc’ ASIC intervened in the proceedings, pursuant 09-169AD Streetwise investors' retain homes 09-169AD loans, commenced by Tonto Home Loans Australia Pty Ltd to section 1330 of the Corporations Act 2001, (Tonto) and Permanent Trustee Company Ltd (Permanent to assist the Court in relation to the Trustee), sought to repossess the homes of the Streetwise construction and application of the legal and investors which had been mortgaged to secure moneys lent to regulatory framework that applies to them by Tonto and by the ANZ bank through a lending enforcement of ‘Low Doc’ loans where program managed by Tonto (known as The Origin Program). intermediaries - brokers, loan originators and The assets of the program owned by the ANZ bank were held managers - have been interposed between by Permanent Trustee. the lender and the borrower, there is reliance on the intermediary and the loans were The Court found that the loan agreements and mortgages ‘rebadged’ as the brokers. entered into by the defendant Streetwise investors were unjust in the circumstances relating to the contracts at the The judgment of Justice Derek Price handed time that they were made. down on Friday 4 September 2009 will enable the defendant investors who had invested with the Streetwise Group of Companies (Streetwise) to re ain their homes.

Review 7/05/2009 Credit - ADI lending Lenders and mortgage brokers Helping home borrowers in financial hardship (REP 152), found The report examined industry practices as at 09-76AD ASIC releases financial hardship 09-76AD that while some lenders are responding well to the needs of late 2008 and there are already moves within report their customers, there is generally room for improvement and some sectors to improve. provides guidance to industry on how to improve practices. On 5 April 2009, the Federal Treasurer announced an agreement with the four major banks wherein they commit to assist borrowers who are experiencing financial difficulty as a result of the global recession’ RCD.0015.0003.0321

Public Results & Reports

Review 16/04/2009 Deposit takers - Deposit products Authorised Deposit Taking Institutions The growth of term deposits and their importance has ASIC will conduct a review of the marketing MR09-62 Term deposits ASIC releases an 09-62MR prompted ASIC to do two things first, to prepare a guide to and disclosure associated with term deposits investor and consumer guide and announces remind investors and consumers and to alert new investors to test their adequacy. a review and consumers on issues to consider when investing in term deposits. Secondly, to do a health check on marketing and disclosure around term deposits to ensure it is proper and fair.

Surveillance 28/07/2008 Credit - Other Debt collectors and creditors Some of the conduct raising concerns for ASIC included The information obtained during the phone- 08-170 ACCC/ASIC debt collection phone-in 08-170 •heavy-handed collection tactics, including persistent and in day was planned be used to assess possible day unreasonable levels of contact; breaches of the ASIC Act. •misrepresenting the consequences of non-payment; •unconscionable conduct in relation to the establishment of repayment agreements; •inappropriate contact with, or representations to, family members, work colleagues and other third parties in breach of privacy laws; •assignment or sale of the debt without notifying the debtor; or •misidentification of alleged debtors and inappropriate credit default listing.

Surveillance 13/03/2008 Credit - Credit intermediaries Mortgage brokers ‘Protecting wealth in the family home’ (REP 119) examines the The Australian Securities and Investments 08-53 Refinancing in response to financial 08-53 experience of a small number of borrowers to obtain an Commission (ASIC) today released a report stress – ASIC report understanding of how borrowers can make poor refinancing that examines the risks for homeowners of choices and the costs and consequences of those choices. The inappropriate refinancing in response to risks for borrowers under mortgage stress refinancing with mortgage stress. fringe lenders at great expense but without resolving their underlying financial problems. The report includes a checklist for borrowers on the costs they should consider when they are looking to refinance to see if it is worth it, and a series of questions for their broker.

Review 11/02/2008 Credit - ADI lending Authorised Deposit Taking Institutions ASIC responded to the Treasurer’s initiatives around switching The review focused on making information 08-21 ASIC response to Treasurer’s initiatives 08-21 fees on home loans. that is clear and comparable on these fees on switching fees on home loans available to the market as soon as possible. ASIC had also committed to enhancing the complaints This included collecting data on them. mechanisms available to consumers on banking products and services to ensure consumers are directed to the right ASIC planned to consult with industry and regulator or disputes scheme if they feel they have problems. consumer groups to examine the level of exit and entry fees on home loans, the industry rationale for charging them, how they work in practice and the current disclosure of these fees. We also planned to look at the exit and entry fees on home loans in other countries so we can see how Australia compares.

Surveillance 31/10/2014 Deposit takers - Deposit products ANZ ANZ reported breaches to us after overcharging interest to Australia and New Zealand Banking Group ASIC Annual Report 2013-2014 (page 35) ASIC Annual borrowers due to errors calculating interest rates for linked Limited (ANZ) announced it would refund Report 2013- mortgage offset accounts and a failure to apply agreed over $75 million to approximately 235,000 2014 (page 35) interest rate discounts to some eligible home loan accounts. customer accounts.

Surveillance 8/08/2012 Credit - Credit intermediaries Pump Financial Pty Limited Holding an ACL whilst not being a member of an approved Cancelled Australian credit licence. 12-187MR ASIC cancels Australian credit 12-187MR external dispute resolution scheme. licence of Brisbane aggregator, finance and mortgage broker Formal investigation (an investigation 25/06/2013 Credit - Credit intermediaries John Sharp •engage in unlicensed credit activity 12-month good behaviour bond (NSW 13-151MR Former Director sentenced for 13-151MR commenced pursuant to s13 ASIC Act or s247 •advertise on its website that it was able to engage in credit Magistrates Court) credit offences NCCP Act) activity in breach of the National Credit Legislation.

Surveillance 17/07/2013 Credit - Credit intermediaries Eric Ying Ching Chu ASIC's investigation found that after falsifying the letter, Mr A Perth-based mortgage broker has been 13-179MR ASIC permanently bans mortgage 13-179MR Chu then forwarded that letter to a settlement agent so that permanently banned from engaging in credit broker the Commonwealth Bank would issue a loan in the amount of activities after an ASIC investigation found $256,000. that he had falsified a letter stating finance approval had been provided for a client. RCD.0015.0003.0322

Public Results & Reports

Surveillance 9/08/2013 Credit - Other Amandeep Sharma An ASIC investigation found Ray Rentals was providing credit ASIC has banned Victorian-based household 13-207MR ASIC hits Ray Rentals with a four 13-207MR Ray Rentals Pty. Ltd. without an Australian credit licence and was promoting this goods rental company Ray Rentals Pty Ltd, year credit ban activity on its website. and its sole director, Mr Amandeep Sharma, from offering credit for four years. Between 23 May 2012 and 24 July 2012, Ray Rentals was found to have offered household items on ‘rent to buy’ terms, in regional NSW and Victoria, to 111 people, many of whom lived in remote indigenous communities. Surveillance 30/08/2013 Credit - Credit intermediaries Mike Morgan Loans ASIC warning consumers about the activities of a person ASIC warning consumers about the activities 13-238MR ASIC warns consumers about Mike 13-238MR trading as Mike Morgan Loans and who is operating through of a person trading as Mike Morgan Loans Morgan Loans the website www.mmloans.com. and who is operating through the website www.mmloans.com. The website appears to be based in South Africa. The site falsely states that •Mike Morgan Loans is a licensed credit provider, when it is not; and •that a licensed Australian company is trading as Mike Morgan Loans, when it is not. Surveillance 6/09/2013 Credit - Other Same Day Money Pty Ltd The AAT found Mr Sullivan was not a fit and proper person to The Administrative Appeals Tribunal (AAT) 13-250MR ASIC ban for director increased in 13-250MR Lawrence James Sullivan engage in credit activities because he authorised a false has increased the ban imposed by ASIC to 5 the Administrative Appeals Tribunal statement made by Same Day Money in its annual compliance years on he director of Same Day Money Pty certificate lodged with ASIC, contravened credit legislation, Ltd (Same Day Money), Mr Lawrence James engaged in serious dishonest conduct, did not have the Sullivan. appropriate knowledge and skills to engage in credit activities, did not exhibit the requisite diligence in his operations, and In reaching its decision, the AAT also upheld had shown little contrition in relation to his conduct and failed ASIC’s cancellation of the Australian credit to demonstrate any genuine insight into his errors. licence of Same Day Money.

Surveillance 15/10/2013 Credit - Credit intermediaries ALEXANDER BARCLAY DRYDEN Mr Dryden contravened the National Consumer Credit Banned from engaging in credit activities, and 13-276MR Adelaide broker banned for failing 13-276MR Protection Act 2009 (Cth) (National Credit Act) by Australian credit licence suspended for six to lodge annual compliance certificate •failing to lodge an annual compliance certificate within 45 months. days after the licensing anniversary of his Australian credit licence and •threatening to lodge a caveat to induce a consumer to pay an amount to him for his credit assistance.

Formal investigation (an investigation 16/10/2013 Credit - Credit intermediaries David John Barrett Fraudulent concealment of property from a liquidator. Mr Barrett was convicted without passing 13-279MR Sydney man convicted for 13-279MR commenced pursuant to s13 ASIC Act or s247 sentence under section 20(1)(a) of the Crimes concealing property from a liquidator NCCP Act) Mr Barrett failed to provide details of a company bank account Act 1914 (Cth) upon entering into a that was receiving trailing commissions from the loans that recognizance release order with a condition had been secured for consumers. Mr Barrett failed to provide to be of good behaviour for 2 years. As a the details of the bank account to the liquidator until 2 result of the conviction Mr Barrett was September 2008. During this period the account transactions automatically disqualified from managing were approximately $40,000. corporations for 5 years.

Surveillance 28/03/2014 Credit - Other Arden Rodrick Wittensleger Submitting fraudulent loan applications to obtain a benefit of Permanently banned from providing financial 14-061MR ASIC permanently bans former WA 14-061MR around $6.5 million. services and engaging in credit activity. accountant

Other outcomes Convicted on 23 August 2013 in the District Court of Western Australia of 86 counts of gaining a benefit by fraud following the Western Australia Police investigation. On 14 October 2013, was sentenced to a total term of imprisonment of eight years.

Surveillance 26/02/2015 Credit - ADI lending Ravinesh Singh Dishonestly obtaining financial advantage by deception. Permanently banned from providing financial 15-041MR ASIC bans former Westpac home 15-041MR Throughout 2011 and 2012, Mr Singh withdrew over $113,000 services and engaging in credit activities. finance manager from ATMs after obtaining eight credit cards using false names. RCD.0015.0003.0323

Public Results & Reports

Surveillance 1/12/2015 Credit - Other Bassem Fares Mr Fares admitted to creating false income verification ASIC has permanently banned Bassem Fares, 15-360MR ASIC permanently bans former 15-360MR documents and false letters of employment in support of six a former lending officer at Firstfolio Services lending officer applications seeking loans totalling over $3 Pty Ltd, from engaging in any credit activities, million during the period from December 2013 to March 2014. following an investigation and subsequent administrative hearing.

Surveillance 21/12/2015 Funds management - Other Nicholas Francis John Bolton ASIC has disqualified Mr Nicholas Francis John Bolton of The companies were placed into liquidation 15-403MR ASIC disqualifies Melbourne 15-403MR Melbourne from managing corporations for three years between 4 February 2010 and 19 May 2014. director following his involvement in the failure of 13 companies. The Across the 13 companies, liquidators disqualification follows an ASIC investigation into Australian reported that the total deficiencies owed to Style Investments Pty Ltd ACN 109 510 198 which found that creditors exceeded $25 million. Mr Bolton breached his duties as a director and that he failed to hold adequate records to explain the financial position of the company.

Surveillance 10/02/2016 Credit - Credit intermediaries Angie Skouras ASIC found that Mr Skouras failed to ensure that Global Edge ASIC has banned Mr Angie Skouras for four 16-030MR ASIC bans mortgage broker and 16-030MR complied with its obligations under the credit legislation. years from engaging in any credit activities cancels licence Global Edge failed to and cancelled the Australian credit licence of •Lodge Annual Compliance Certificates for the 2014 and 2015 Global Edge Finance Group Pty Ltd (Global years; Edge) following an investigation and •Hold current membership with an ASIC approved external subsequent administrative hearing. dispute resolution scheme; and •Comply with two adverse determinations made by the Credit and Investments Ombudsman requiring the payment of $197,231 and $129,021 respectively. Formal investigation (an investigation 23/05/2016 Financial Advisers - Other Andrew Peter Cosgrove ASIC's investigation found that Mr Cosgrove generated and Mr Cosgrove pleaded guilty to dishonestly 16-155MR Former director and financial 16-155MR commenced pursuant to s13 ASIC Act or s247 issued invoices to three Vangrove (financial planning using his position as a director of the adviser pleads guilty to breaching director's NCCP Act) company) clients for payment of fees for financial advice company with the intention of gaining an duties provided to them. The invoices instructed the clients to make advantage for someone else (three charges of payments to the Cosgrove Investment Trust rather than to breaching directors duties). Mr Cosgrove was Genesys, as authorised by the Administrator. discharged without conviction upon entering into recognisance in the sum of $3,000 on condition that he would be of good behaviour for three years.

Formal investigation (an investigation 10/04/2017 Credit - Other Graeme Edward John Healy An ASIC investigation found that in May 2014, while the Convicted and ordered to pay $3,000 in the 17-109MR Director of motor finance company 17-109MR commenced pursuant to s13 ASIC Act or s247 company was under external administration, Mr Healy agreed Bundaberg Magistrates Court for engaging in convicted of concealing a company debt NCCP Act) to repay Affordable Finance Facilities Pty Ltd $6,691.90 on conduct that resulted in the concealment of a behalf of a third party who borrowed the money from the debt. company before it was placed in external administration.

After receiving payments from the third party, Mr Healy failed to pass on the money to Affordable Finance Facilities Pty Ltd. Mr Healy subsequently provided false documentation to the administrator claiming the funds had been paid in full.

Surveillance 2/08/2012 Financial Advisers - Compliance & DAVID ANTHONY ARMSTRONG Morrison Carr Financial Services did not have in place Cancelation of both AFSL and ACL of Morrison 12-183MR ASIC cancels licences of Morrison 12-183MR supervision Morrison Carr Financial Services Pty Limited adequate compensation arrangements; Carr Financial Service and permanently ban Carr and permanently bans sole director Mr Cardakaris was not of good fame and character or a fit and Mr Dennis Cardakaris from providing proper person to engage in credit activities in that he provided financial services and engaging in credit false information in relation to an application for professional activities. indemnity insurance and arranged for the transfer of business from a previous AFS licence, Morrison Carr Australia and in doing so, affected the ability of claimants of the previous licensee to pursue their claims;

Surveillance 30/05/2008 Funds management - Other Entity did not hold AFSL however may be Misleading conduct in relation to an unsolicited share offer After discussions with ASIC, Share Express 08-113 ASIC stops unsolicited offers to 08-113 within Terms of Reference under paragraph made by Share Express Pty Ltd (Share Express). wrote to Telstra shareholders who had purchase shares by Share Express Pty Ltd (c) ASIC was concerned that the offer may have misled accepted the offer informing them that the shareholders to believe that they could not revoke their transfer of their shares could not proceed acceptance. ASIC was also concerned that the offer failed to under the offer. tell shareholders that Share Express could withdraw the offer, although generally not within one month of the date of the offer. RCD.0015.0003.0324

Public Results & Reports

Review 9/07/2013 Market participant & OTC issuers - All Bizzell Capital Partners Pty Ltd Inappropriate transactions deciding the control companies. ASIC intervened in transactions and made an 13-165MR ASIC enforces standards in 13-165MR Abuse of the rights issue and underwriting exceptions. application to Takeovers Panel. As a result of takeovers ASIC’s actions, the transactions were altered.

Surveillance 13/03/2008 Financial Advisers - Other Raymond John Ilott (AR number 225776) ASIC’s action follows an investigation which found Mr Ilott had ASIC has permanently banned Mr Raymond 08-51 ASIC bans authorised representative – 08-51 been authorised by his client to invest money on her behalf John Ilott, of North Beach, Western Australia, WA but instead used the funds to satisfy personal debts. from providing financial services.

Surveillance 8/06/2011 Financial Advisers - Compliance & iPlan Financial Serivces Pty Ltd (AFSL 311824) iPlan entered into an agreement regarding an investment ASIC has imposed additional conditions on 11-114AD ASIC imposes conditions on iPlan 11-114AD supervision platform which created a conflict of interest. Specifically, ASIC the Australian financial services (AFS) licence. licence found •iPlan may have advised clients to transfer from existing financial products to the platform without disclosing a reasonable basis for the advice; •the disclosures in relation to iPlan’s conflict of interest, relevant to the advice provided, were insufficient; and •a number of clients sustained financial detriment as a result of the advice.

Surveillance 15/08/2014 Financial Advisers - Remediation Macquarie Equities Ltd (AFSL 237504) Flawed financial advice by MEL’s financial adviser network, MEL to begin writing to current and former 14-201MR Macquarie Equities’ financial 14-201MR Macquarie Private Wealth (MPW). clients about possible remediation for flawed advice remediation financial advice.

This remediation process was part of ASIC’s enforceable undertaking with MEL, which was imposed in January 2013.

Surveillance 5/05/2016 Financial Advisers - Remediation Macquarie Equities Limited (AFSL 237504) Following the conclusion of a 2 year EU, ASIC announced some ASIC confirmed finalisation of the 12-month 16-131MR Macquarie Equities Limited - 16-131MR reforms by Macquarie Equities Limited under the EU had not program of work agreed to by Macquarie. conclusion of 12-month program of work yet been tested by the Independent Expert, KPMG. Furthermore, despite significant improvements in the quality of documentation on client files since the EU started, and that KPMG identified no inappropriate advice, ASIC believed MEL had to do further work to improve the quality of its advice files and consequently its ability to manage its advice risk.

Surveillance 30/06/2016 Financial Advisers - Remediation Macquarie Equities Limited (AFSL 237504) Additional conditions were imposed on Macquarie following ASIC has removed the additional conditions 16-211MR Macquarie Bank Limited - 16-211MR an investigation by ASIC into a series of reports lodged by imposed by ASIC on Macquarie's AFS licence. conclusion of works undertaken by external Macquarie concerning self-identified breaches of the client expert money provisions of the Corporations Act.

Surveillance 18/07/2011 Financial Advisers - Compliance & JB Global Pty Ltd Inappropriate advice, failure to adequately investigate clients’ Imposed licence conditions and obtained 11-144MR ASIC imposes licence conditions on 11-144MR supervision situations and inadequate consideration of the characteristics corrective disclosure. JB Global and risks of the structured products. Marketing material may have been misleading, by accentuating the potential benefits of the investment without balancing those benefits against the risks. PDS did not adequately disclose the structure of the investment, the notional nature of the compulsory limited recourse loans provided by the company to investors who acquired the Units and the reasons for the low interest rate (5.25 per cent per annum) of those loans.

Surveillance 16/07/2013 Financial Advisers - Compliance & Commonwealth Bank of Australia Potentially misleading representations regarding capital Commonwealth Bank of Australia and HSBC 13-176MR ASIC concerns see CBA and HSBC 13-176MR supervision HSBC Bank protection or a capital guarantee. Inappropriate marketing Bank changed their advertising for certain change advertising and advice directed at retail investors where an investor’s retail structured products. capital was at risk. Surveillance 17/07/2013 Financial Advisers - Remediation Professional Investment Services Pty Ltd (AFSL The expert monitoring program follows the conclusion in An independent expert will monitor for 9 13-178MR Professional Investment Services 13-178MR 234951) March 2012 of an EU ASIC accepted from PIS in December months the way Professional Investment enters into monitoring program 2010 (refer 10-275AD). ASIC had concerns that compliance and Services Pty Ltd (PIS) gives financial advice to audit functions required further work. This action ensure that its advice processes meet the demonstrates that ASIC will follow up on EU outcomes where standards set out in a major enforceable necessary. undertaking (EU).

The expert will report back to ASIC each quarter. RCD.0015.0003.0325

Public Results & Reports

Surveillance 4/09/2013 Financial Advisers - Compliance & Credit Suisse Investments Services (Australia) ASIC was concerned that Credit Suisse’s and UBS’ use of the Investment banks Credit Suisse Investments 13-246MR ASIC concerns prompt banks to 13-246MR supervision Limited terms ‘contingent capital protection’ and ‘conditional Services (Australia) Limited and UBS AG change promotional materials UBS AG (Australia branch) protection’, respectively, in their promotional material for (Australia branch) have changed their ‘capital at risk’ structured products, was inappropriate. promotional materials for complex financial products following ASIC concerns that they were potentially misleading.

Surveillance 5/09/2013 Financial Advisers - Compliance & Anne Street Partners Financial Services Pty Ltd ASIC’s surveillance of ASP identified concerns surrounding the Australian financial services licence holder 13-248MR ASIC concerns prompt Anne Street 13-248MR supervision (AFSL 258853) appropriateness of advice provided to clients regarding the Anne Street Partners Financial Services Pty Partners to change their financial advice establishment of a self-managed superannuation fund (SMSF). Ltd (ASP) has agreed to address ASIC practices concerns relating to the provision of its financial product advice to clients.

Surveillance 17/09/2013 Financial Advisers - Compliance & Moneywise Securities Pty Ltd ASIC’s surveillance found concerns relating to ASIC imposed an additional licence condition 13-259MR ASIC imposes licence condition on 13-259MR supervision on Moneywise Moneywise Securities •advice that did not adequately consider the specific needs of the client but recommended the client establish a margin loan An independent expert to be appointed to or SMSF review, assess and make recommendations •compliance with the disclosure requirements when the regarding advice provided to clients included the replacement of one •the advice provided by Moneywise to clients financial product with another. The concerns related to in relation to margin lending and SMSFs inadequate cost and feature comparisons between the clients’ •the adequacy of Moneywise’s conflicts existing superannuation and the recommended SMSF, and management arrangements •the management of conflicts of interest where the advice •Moneywise’s measures for monitoring and provided to clients resulted in transactions with a related supervision of representatives, and entity of Moneywise. •the adequacy of Moneywise’s internal dispute resolution system. The independent expert to report to ASIC and Moneywise over the next 18 months to ensure ASIC’s concerns are addressed.

Surveillance 3/10/2013 Financial Advisers - Compliance & Chambers Investment Planners Pty Ltd Failure to obtain professional indemnity insurance and Cancellation of Chambers' AFS licence. 13-269MR ASIC cancels the licences of 13-269MR supervision entered voluntary administration. Chambers Investment Planners Pty Ltd ASIC also cancelled the Australian credit licence of Chambers after it ceased to engage in credit activities.

ASIC to conduct enquiries into the conduct of the officers and representatives of Chambers.

Surveillance 2/12/2013 Financial Advisers - Other Alistair Frank McCreath Financial adviser became an undischarged bankrupt. Banned from providing financial services for 9 13-322MR ASIC removes bankrupt financial 13-322MR months. adviser from industry Surveillance 18/12/2013 Financial Advisers - Compliance & SMSF Property Capital Pty Ltd (AFSL 420843) Making potentially misleading statements about ‘ASIC Paid a $10,200 penalty to comply with an 13-351MR SMSF Property Capital pays 13-351MR supervision approved’ financial products. ASIC infringement notice. penalty for ads promoting ASIC approved financial products Surveillance 12/02/2014 Financial Advisers - Compliance & Capital Advisers Pty Ltd (AFSL 220622) Not having adequate compensation and insurance Cancellation of Capital Advisers' AFS licence 14-027MR ASIC cancels Capital Advisers 14-027MR supervision arrangements and failing to have measures in place to ensure and credit licence. licence their organisational competence.

Following ASIC’s concerns, Capital Advisers stopped offering financial services and appointed external administrators.

Surveillance 18/03/2014 Financial Advisers - Compliance & SuperHelp Australia Pty Ltd (ACN 061 126 663) Making potentially misleading statements about the cost of Company paid a $10,200 infringement notice 14-051MR SuperHelp Australia Pty Ltd pays 14-051MR supervision setting up a self-managed superannuation fund (SMSF) using penalty. infringement notice in relation to FREE SMSF its administration services. fund setup claims Company also took steps to correct its advertising and to develop improved processes for the sign-off of advertisements.

Surveillance 28/03/2014 Financial Advisers - Other Allan Burt Vissenjoux (AR number 237233) Providing financial services while an undischarged bankrupt. Banned from providing financial services until 14-062MR ASIC bans bankrupt financial 14-062MR 29 May 2016. adviser RCD.0015.0003.0326

Public Results & Reports

Surveillance 16/05/2014 Financial Advisers - Remediation Commonwealth Financial Planning Limited The original process developed to compensate customers of Imposition (by agreement) of licence 14-104MR ASIC to impose licence conditions 14-104MR (AFSL 231139) and Financial Wisdom Limited two former CFPL advisers was not applied consistently across conditions on the AFS licences of two on two Commonwealth Bank financial (AFSL 231138) all impacted customers of the two businesses, disadvantaging financial planning businesses owned by CBA. planning businesses some customers. The conditions to require both businesses to The measures in the compensation process that were not undertake significant further work in relation consistently applied were to the compensation process for customers •upfront communication with affected customers of advisers and to put in place independent monitoring where there were concerns about the quality of advice, of that work. advising them of those concerns, informing them that there would be a review of the advice previously provided to them Corrective measures to be subject to and providing an opportunity to raise issues, and oversight by an ASIC-appointed independent •the offer of $5,000 to customers to obtain independent expert. advice in order to help them assess whether the review of their advice and any compensation offer was adequate.

Surveillance 10/06/2014 Financial Advisers - Other Kelvin William Roy Fair Financial adviser, an undischarged bankrupt, represented to Banned from providing financial services for 14-122MR ASIC bans bankrupt financial 14-122MR his AFS licensee that he was not a bankrupt and in so doing six months. adviser deprived the AFS licensee of the opportunity to disclose his bankruptcy to the AFS licensee’s insurer. The advisor also failed to comply with his obligations as a bankrupt.

Surveillance 4/07/2014 Financial Advisers - Compliance & Financial Technology Securities Pty Ltd (AFSL Concerns FTS had provided inappropriate advice to some Suspended AFS licence for six weeks. FTS 14-154MR ASIC suspends AFS licence of 14-154MR supervision 300219) clients. unable to provide advice to new or existing Financial Technology Securities Pty Ltd clients during this period. ASIC found up until August 2012 FTS had a policy of recommending double gearing strategies to some clients Note also regardless of their personal circumstances. - ASIC put in place a comprehensive communication strategy for clients, representatives and related product providers of FTS; - FTS ceased the practice as a result of ASIC’s investigation of the matter Surveillance 21/07/2014 Financial Advisers - Compliance & Custom Wealth Solutions Dealer Services Pty The business entered into receivership on 11 June 2014. Suspended AFS licence for an initial term of 14-168MR ASIC suspends AFS licence of 14-168MR supervision Ltd three months. Custom Wealth Solutions Dealer Services

Surveillance 22/07/2014 Financial Advisers - Compliance & Accountants Plus Pty Ltd (AFS licence 273964) Failure to lodge audited annual statements. Cancellation of eight AFS licences. 14-172MR ASIC acts on licensees failing to 14-172MR supervision Benchmark Holdings Pty Ltd (AFS licence lodge annual statements 240875) In addition to cancellations, ASIC Citywide Investment Services Pty Ltd (AFS •suspended two AFS licences for failure to licence 336698) lodge audited annual statements Lateral Thinking Pty Ltd (AFS licence 287975) •achieved voluntary compliance by 38 AFS Mariner Insurance Pty Ltd (AFS licence licensees who have lodged all outstanding 239036) documents, and TIS Logistics Pty Ltd (AFS Licence 286178) •prompted 17 entities to voluntarily cancel Graeme Bartlett & Associates Pty Ltd (AFS their AFS licences as they are no longer Licence 246223) operating a financial services business. Neville Krynauw & Associates Pty Ltd (AFS licence 239188) Cabot Square Financial Planning Pty Ltd (suspended) (AFS licence 303510), and Southpoint Insurance Brokers Pty Ltd (suspended) (AFS Licence 241736). RCD.0015.0003.0327

Public Results & Reports

Surveillance 30/07/2014 Financial Advisers - Compliance & PGW Financial Services Pty Ltd (AFSL 384713) Deficiencies in company's advice to clients and arrangements Accepted an enforceable undertaking (EU) 14-183MR ASIC accepts enforceable 14-183MR supervision for supervising its authorised representatives. from the company. undertaking from Adelaide-based AFS licensee PGW agreed to implement a regime of supervision, review and audit, by an ASIC- approved compliance expert for a period of at least 15 months. This to incorporate the implementation and review of any remedial action plans that are developed to resolve any deficiencies identified by the compliance expert.

Surveillance 4/08/2014 Financial Advisers - Compliance & N/A Licensees not having an adequate professional indemnity ASIC 14-187MR ASIC surveillance results in 14-187MR supervision insurance policy. •cancelled seven AFS licences cancellation of seven AFS Licences •referred three licensees for further action Came out of a review targeting licensees which had not for failure to have adequate compensation requested a release of a security bond that was required to be arrangements lodged with ASIC under a previous licensing regime. •released, or is in the process of releasing, 54 security bonds •prompted 17 entities to voluntarily cancel their AFS licences as they were no longer operating a financial services business, and •confirmed the professional indemnity insurance arrangements of the remaining licensees.

Surveillance 12/08/2014 Financial Advisers - Compliance & Melissa McInnes t/a Your Super Accountants Made potentially misleading statements about the cost of Paid a $2,040 infringement notice penalty. 14-195MR Your Super Accountant pays 14-195MR supervision setting up a self-managed superannuation fund (SMSF) using infringement notice in relation to ‘FREE’ SMSF its administration services. set up claims Surveillance 18/09/2014 Financial Advisers - Compliance & Invast Financial Services Pty Ltd (AFSL 438283) ASIC was concerned that an email to prospective clients and Paid $20,400 in penalties after ASIC issued 14-241MR Invast Financial Services pays 14-241MR supervision statements on the website misled consumers about the two infringement notices. $20,400 penalty for making misleading inherent risks of trading foreign exchange and derivatives. representations The company also took steps to correct its website. Surveillance 22/09/2014 Financial Advisers - Insurance advice Michael Richard Irwin (AR number 235949) Former advisor did not have a reasonable basis for advice and Banned from providing financial services for 14-243MR ASIC bans former Queensland- 14-243MR failed to provide Statements of Advice (SOAs) that disclose the five years. based adviser basis on which his advice was given.

In particular, Mr Irwin failed to •take into account clients' existing insurance arrangements when recommending clients take out insurance products, and •adequately disclose to clients why the asset portfolio implemented for the clients departed from the asset allocation set out in the SOAs.

Surveillance 30/09/2014 Financial Advisers - Compliance & Protect Ensure Pty Ltd (AFSL 235949) Failure to lodge true and fair annual accounts, together with Suspension of Protect's AFS licence until 19 14-256MR ASIC suspends Protect Ensure's 14-256MR supervision an auditor’s report before 31 October of the relevant year, and December 2014. AFS licence failure to report this significant breach to ASIC.

The group also failed to ensure it had adequate financial resources to provide its services and to carry out supervisory arrangements of its representatives. RCD.0015.0003.0328

Public Results & Reports

Surveillance 1/10/2014 Financial Advisers - Compliance & Interprac Financial Planning Pty Ltd (AFSL Concerns relating to advice provided to some clients about self Interprac agreed to undertake a number of 14-258MR AFS licensee addresses ASIC 14-258MR supervision 246638) managed superannuation funds (SMSFs). measures to improve its advice processes and concerns on SMSF advice to ensure clients receive appropriate financial There were concerns relating to advice. These included •the advice not being sufficiently tailored to the needs of each •appointing a compliance expert to review, client, and assess and, if necessary, make •inadequate comparison of clients’ existing superannuation to recommendations regarding SMSF advice the recommended SMSF. provided by Interprac to clients •writing to all clients who may have received poor advice to inform them of their internal dispute resolution and external dispute resolution rights •requiring advisers to undertake additional training with a particular emphasis on replacement product disclosure and the best interests duty •requiring all advisers providing SMSF advice to clients to complete specialist SMSF training •employing an additional compliance resource, and •placing some advisers on a pre-vet program.

Interprac also required to report back to ASIC regarding the implementation of the agreed measures to confirm ASIC's concerns have been addressed.

Surveillance 11/12/2014 Financial Advisers - Other Seamus O'Brien t/a Cambridge Financial ASIC was concerned that Mr O’Brien failed to ASIC accepted an enforceable undertaking 14-331MR ASIC Accepts enforceable 14-331MR Planning •demonstrate a reasonable basis for the advice provided (EU) from Mr O’Brien after he failed to meet undertaking from Victorian financial adviser •adequately provide replacement product advice to clients his obligations as a financial adviser. •comply with the record keeping obligations relating to personal advice, and Under the EU, Mr O’Brien agreed not to •comply with the Statement of Advice requirements. provide financial services in any capacity for a minimum of one year. Should he decide to re- enter the financial services industry after this exclusion period, he must adhere to strict supervision requirements for 12 months and have each piece of advice audited by his new licensee before it is provided to the clients.

Surveillance 17/12/2014 Financial Advisers - Compliance & Protect Ensure Pty Ltd (AFSL 235949) Following a suspension of its AFS licence (see 14-256MR), ASIC cancelled Protect's AFS licence. This 14-338MR ASIC cancels Protect Ensure’s AFS 14-338MR supervision Protect failed to have its accounts audited and updated to followed their licence being suspended licence ASIC’s satisfaction and ASIC considered that there was earlier in the year. material uncertainty over its financial position. RCD.0015.0003.0329

Public Results & Reports

Surveillance 7/01/2015 Financial Advisers - Compliance & GuardianFP Ltd (AFSL 237641) Deficiencies in the advice Guardian Advice provided to retail ASIC imposed conditions on its Australian 15-003MR ASIC imposes conditions on 15-003MR supervision clients. financial services (AFS) licence. Guardian Advice licence

ASIC’s surveillance across Guardian Advice’s business found Under the conditions, Guardian Advice must instances where there was not a demonstrated reasonable appoint an ASIC-approved independent basis for the advice provided and also files that did not consultant to review its compliance with its evidence the advice given was in the best interests of clients. general licensee obligations and develop a plan to rectify any deficiencies identified by It also found Guardian Advice did not have adequate the expert. The expert to report regularly to arrangements in place to ensure it was complying with its ASIC over the next two years on Guardian general obligations as an AFS licensee. Specifically, ASIC was Advice’s implementation of the plan, and concerned that Guardian Advice did not ASIC may publish the results of the reports. •properly assess and monitor its representatives’ competence to provide financial services •have adequate measures in place to meet its record-keeping obligations •adequately respond to identified breaches by its representatives, and •have in place adequate human and technological resources

Surveillance 24/02/2015 Financial Advisers - Compliance & Consultum Financial Adivsers Ltd (AFSL Advice provided by 10 licensees in relation to retail structured 10 licensees undertaking corrective action. 15-036MR ASIC takes action on deficient 15-036MR supervision 230323) products. advice on complex structured investment Count Financial Ltd (AFSL 227232) ASIC’s subsequent surveillances and products FSS Advisory Pty Ltd (AFSL 341308) regulatory actions led to Genesys Wealth Advisers Ltd (AFSL 232686) •licensees commencing a wider review of Meritum Financial Group Pty Ltd (AFSL relevant advisers and clients to determine 245569) whether breaches of disclosure or conduct HSBC Ltd (AFSL 232595) requirements had occurred, the extent of Madison Financial Group Pty Ltd (AFSL those breaches, and whether client, adviser 246679) and licensee remediation was required MASU Financial Management Pty Ltd (AFSL •two of the licensees submitting notifications 231140) of significant breaches to ASIC Sentry Financial Services Pty Ltd (AFSL •one licensee terminating the authorisations 286786) of a corporate authorised representative and Westpac Banking Corporation (AFSL 233714) two individual authorised representatives, after identifying systemic breaches by those representatives, and •other remedial actions by licensees including client compensation, fee or commission refunds, corrective or improved disclosure, increased supervision and monitoring of advisers, and changes to licensees' systems and procedures for providing advice on complex products. RCD.0015.0003.0330

Public Results & Reports

Surveillance 12/03/2015 Financial Advisers - Compliance & Australian Financial Planning Solutions Pty Ltd ASIC's concerns related to false or misleading representations AFPS paid $10,200 in penalties pursuant to an 15-052MR Australian Financial Planning 15-052MR supervision (AR No. 315370) made in an article titled "Benefits of a self-managed super infringement notice. Solutions pays $10,200 penalty for misleading fund" that appeared on AFPS's website between 22 July and 4 advertising November 2014.

ASIC was concerned that •the article contained misleading and unsubstantiated claims that major retail and industry superannuation funds will experience payout difficulties, and •the article misrepresented the taxation implications of self- managed superannuation funds (SMSF) compared to major retail and industry superannuation funds, by giving the impression that certain tax benefits only apply to SMSFs, when they actually apply to most superannuation funds.

Surveillance 23/04/2015 Financial Advisers - Remediation Commonwealth Financial Planning Limited The inconsistency and deficiencies of an original $52 million CBA to contact approximately 2740 15-083MR Update on licence conditions on 15-083MR (AFSL 231139) and Financial Wisdom Limited compensation scheme. customers to offer them up to $5000 to have two Commonwealth Bank financial planning (AFSL 231138) their advice assessment reviewed and to seek businesses ASIC releases initial report into independent advice. advice compensation program

The licensees to also write to a further 1590 clients informing them that a review of their file found no evidence that they had received advice, but if that is not correct, the clients will be offered $5000 assistance and all the options available under the licence conditions. Surveillance 29/04/2015 Financial Advisers - Other Atish Prasad Not adequately trained or competent to provide a financial Banned from providing financial services for 15-088MR ASIC bans former Sydney financial 15-088MR service. In addition, failed to comply with the financial services three years. adviser for 3 years laws.

In particular, failed to •maintain adequate records of his advice •provide a Statement of Advice (SOA) within the required timeframe •provide a SOA that adequately set out information about the basis on which the advice was given •provide appropriate replacement product advice

Surveillance 30/04/2015 Financial Advisers - Compliance & Wealthsure Pty Ltd (AFSL 238030) and The original misconduct related to recurring compliance ASIC accepted new, separate enforceable 15-090MR ASIC accepts new enforceable 15-090MR supervision Wealthsure Financial Services Pty Ltd (AFSL failures. The new EUs responded to a restructuring of the undertakings (EU) from WPL and WFS to undertaking from Wealthsure Pty Ltd and 326450) Wealthsure Group and each company's new business replace a joint EU first accepted in August Wealthsure Financial Services Pty Ltd activities. 2013. Surveillance 5/05/2015 Financial Advisers - Compliance & • Ken Hart Insurance Brokers Pty Ltd Pty Ltd The failure of four AFS licensees to lodge audited annual The AFS licences of the four licensees were 15-100MR ASIC cancels AFS licences for 15-100MR supervision (AFS Licence 253565) statements. cancelled. failing to lodge annual statements • McDouall Stuart Corporate Finance Pty Limited (AFS Licence 282131) In addition to the cancellations, ASIC • Marshall Laurence Pty Ltd (AFS Licence •suspended one AFS licence for failing to 275471) lodge audited annual statements until the • Green Stride Investment Management Pty outstanding documents were lodged Ltd (AFS Licence 408153), and •achieved voluntary compliance by seven • Navigate Funds Management Pty Ltd AFS licensees who lodged all outstanding (suspended 23 December 2014 to 27 February documents, and 2015) (AFS Licence 299940). •prompted two entities to voluntarily cancel their AFS licences because they were no longer operating a financial services business. RCD.0015.0003.0331

Public Results & Reports

Surveillance 27/05/2015 Financial Advisers - Compliance & TCI Capital Advisers Pty Ltd Failure to comply with compliance obligations. ASIC cancelled TCI's AFS licence. 15-129MR ASIC cancels TCI Capital Adviser’s 15-129MR supervision AFS licence TCI management failed to ensure the company had adequate financial resources to provide its services.

TCI also failed to lodge audited financial accounts for FY2010, FY2011, FY2012, FY2013 and FY2014 within the required timeframe, and failed to report this breach to ASIC.

Surveillance 9/07/2015 Financial Advisers - Other Brian Farber (AR number 266811) Mr Farber was not adequately trained or competent to Banned Mr Farber from providing financial 15-178MR ASIC bans life insurance financial 15-178MR provide a financial service and failed to comply with the services for four years. adviser for 4 years financial services laws.

In particular, it was found that in a number of instances Mr Farber •failed to act in his clients' best interests in the course of providing financial product advice. •engaged in misleading or deceptive conduct in relation to backdating a number of Statements of Advice (SOA). •failed to provide SOA to clients within the required timeframes. •relied excessively on template SOA's containing prepopulated information and failed to adequately disclose information regarding product replacement.

Surveillance 21/07/2015 Financial Advisers - Compliance & Omniwealth Services Pty Ltd (AFSL 309643) Omniwealth published potentially misleading claims on its Omniwealth complied with an ASIC 15-190MR Omniwealth pays penalty for 15-190MR supervision website. Omniwealth's website included a page on the infringement notice, paying a $10,200 potentially misleading advertising advantages of investing in property within a self-managed penalty . It also removed the statements super fund (SMSF). This page compared the performance of a from its website and related social media geared property investment within a self-managed super fund profiles. to an ungeared equity investment within a self-managed super fund. Similar statements were made on its social media profile. Surveillance 4/08/2015 Financial Advisers - Compliance & Dixon Advisory Group Limited (ACN 080 207 The publication of potentially misleading claims on its website Issuance of two ASIC infringement notices, 15-207MR Dixon Advisory Group pays an 15-207MR supervision 076) relating to self-managed super funds (SMSFs). requiring Dixon Advisory Group Limited to infringement notice for potentially misleading pay two $10,200 penalties. The company advertising complied with the infringement notices. The statements and video from its website and related social media profiles were also removed by the company.

Surveillance 6/08/2015 Financial Advisers - Compliance & Sentinel Private Wealth Pty Ltd (AFSL 344762) A recent independent review of the financial planning firm, Imposition of new licence conditions. 15-212MR ASIC imposes conditions on 15-212MR supervision commissioned by Sentinel, identified compliance issues, Sentinel Private Wealth licence including having inadequate measures to manage their risks To ensure the company has adequately and effectively monitor and supervise its staff. responded to the deficiencies raised, the licence conditions will require Sentinel to appoint an independent compliance consultant to review its overall compliance arrangements, specifically •consider Sentinel’s response to the findings and recommendations in the original compliance report •assess the adequacy of Sentinel’s policies and procedures used •sample test Sentinel’s application of its policies and procedures.

The independent compliance consultant will report to ASIC and Sentinel will be required to address any deficiencies identified by its review. RCD.0015.0003.0332

Public Results & Reports

Surveillance 3/09/2015 Financial Advisers - Compliance & Advamode Financial Pty Ltd (AFSL 405652) ASIC's surveillance raised serious concerns about the ASIC imposed additional conditions on the 15-242MR Additional licence conditions 15-242MR supervision licensee's ability to Australian Financial Services (AFS) licence of imposed on Advamode •ensure that financial services were provided efficiently, Advamode Financial Pty Ltd (Advamode). honestly and fairly •demonstrate adequate financial resources were available to Advamode consented to the imposition of provide financial services and carry out supervisory the AFS licence conditions. arrangements •have adequate arrangements for the management of Under the licence conditions, a compliance conflicts of interest expert, approved by ASIC, will review •demonstrate adequate research and inquiry had been Advamode's business, including all policies undertaken in to financial products. and processes relevant to each of ASIC's concern.

Advamode required to implement any remedial actions recommended by the compliance expert.

Surveillance 8/09/2015 Financial Advisers - Other Michael Kolody (AR number 342804) ASIC found Mr Kolody was not adequately trained or Banned from providing financial services for 15-247MR ASIC bans former financial adviser 15-247MR competent to provide financial advice and had failed to five years and six months. comply with the financial services laws.

An ASIC review of client files found Mr Kolody •provided advice to a number of clients that was not appropriate to their personal circumstances; •prepared documents that may have mislead clients about their legal entitlements; •failed to maintain adequate records of his advice or provide clients with a Statement of Advice that adequately set out the basis on which his advice was given; •did not provide appropriate replacement product advice and disclosure when advising clients to move from one financial product to another; •provided inadequate information on some commissions he received.

Surveillance 24/09/2015 Financial Advisers - Other Reid Menkens (AR number 250932) and Leo Reid Menkens is a former Millennium3 Financial Services Pty ASIC has accepted enforceable undertakings 15-270MR ASIC action prompts two 15-270MR Menkens (AR number 250534) Ltd and AMP Financial Planning Pty Ltd representative and Leo (EU) from two Queensland financial advisers. Queensland financial advisers into Menkens is a former AMP representative. The pair trade as Under the EUs, the pair must appoint an enforceable undertakings Menkens Financial Group in Brisbane. An ASIC review of client independent consultant to undertake a files found failures by both financial advisers to program of pre-vet and audit reviews to test •demonstrate that they had acted in the best interests of their the compliance of advice prepared by the clients pair. The consultant will report to ASIC. •keep proper records, and •provide statements of advice (SOA) in a timely manner

Surveillance 1/10/2015 Financial Advisers - Compliance & Total Financial Solutions Australia Limited In October 2014, ASIC commenced a surveillance focusing on ASIC has imposed additional conditions on 15-279MR Additional licence conditions 15-279MR supervision (AFSL 224954) financial product advice provided by one of TFSA's authorised the Australian financial services licence added to Total Financial Solutions' licence representatives. ASIC's surveillance identified serious concerns (AFSL) of Total Financial Solutions Australia including Limited (TFSA) (AFSL Number 224954). •A 'one size fits all' approach when providing superannuation rollover advice •Systemic failure to act in the client's best interests, especially in instances where the advice related to a client's existing defined benefit superannuation funds •Failure to prioritise the client's interests when providing advice. RCD.0015.0003.0333

Public Results & Reports

Surveillance 21/10/2015 Financial Advisers - Remediation National Australia Bank Limited (AFSL 230686) ASIC has worked with NAB to develop their Financial Advice National Australia Bank (NAB) will be 15-306MR National Australia Bank to 15-306MR Customer Response Initiative (CRI), a large review and contacting customers who may have received implement a large scale Financial Advice remediation program for customers affected by non-compliant non-compliant advice since 2009. Affected Remediation program advice. clients will have their files reviewed to determine if compensation should be paid. NAB will also provide affected customers with financial assistance to seek professional independent advice where appropriate.

Surveillance 24/11/2015 Financial Advisers - Compliance & GuardianFP Ltd (AFSL 237641) Nil - ASIC notes the announcement by Suncorp Life that it will In December 2014, ASIC imposed conditions 15-353MR Update on licence conditions 15-353MR supervision exit the financial planning business carried on by Suncorp (additional licence conditions), on the imposed on Guardian Advice AFS licence Group-owned Guardian Advice. Australian financial services (AFS) licence of Guardian Advice following a surveillance which uncovered deficiencies in the advice it provided to retail clients (refer 15-003MR). Suncorp Life and Superannuation Limited (Suncorp) has undertaken to ASIC to complete the client remediation program of work provided for in the additional licence conditions and to fund the compensation of Guardian Advice clients, if required.

Surveillance 8/12/2015 Financial Advisers - Other Mark Chapple Fraud - Mr Chapple invoiced a number of clients directly for ASIC has permanently banned Mr Mark 15-371MR ASIC permanently bans insurance 15-371MR his services despite having already been paid by his employer Chapple from providing financial services broker convicted of fraud for those services, thereby gaining a financial advantage by after he was convicted of fraud in the NSW deception of each of the affected clients. Magistrates Court (Tamworth). In May 2015, Mr Chapple pleaded guilty to four counts of obtaining money by deception and four counts of dishonestly obtaining financial advantage by deception.

Surveillance 19/01/2016 Financial Advisers - Insurance advice Jason Churchill (AR number 244735) An ASIC review of client files found in some instances Mr ASIC has accepted an enforceable 16-008MR ASIC accepts enforceable 16-008MR Churchill had undertaking (EU) from ClearView Financial undertaking from Queensland financial •failed to undertake adequate inquiries into the relevant Advice Pty Ltd representative, Jason adviser personal circumstances of some clients to whom he made Churchill. Under the EU, Mr Churchill has recommendations agreed to undergo additional training in •failed in some instances to provide adequate replacement relation to the provision of financial product product advice to the client in the Statement of Advice, advice and must adhere to strict supervision preventing the client from making an informed decision to requirements for 12 months and have each switch insurance cover piece of advice audited by his authorising •inadequately demonstrated in some cases the benefits of a licensee before it is provided to the clients. stepped or level premium •failed in some cases to consider the competing priorities of adequate insurance versus affordability, including the longer term impact of placing insurances within superannuation •limited the advice in some cases to exclude issues which cannot reasonably be excluded from the scope of advice. RCD.0015.0003.0334

Public Results & Reports

Surveillance 16/02/2016 Financial Advisers - Insurance advice Andrew Moroney (AR number 411631) Mr Moroney operated a business model of providing advice ASIC has permanently banned Andrew 16-036MR Former Guardian Advice insurance 16-036MR that prioritised his own interests ahead of his clients. Moroney from providing financial services. adviser permanently banned from financial Specifically, he services •failed to make reasonable enquiries into the circumstances of the clients before providing advice to them to enter into a new life insurance policy; •failed to conduct reasonable enquiries into insurance policies, both those already held by clients and alternative policies; •incorrectly stated he had undertaken research on alternative life insurance policies, when this was not done; •failed to demonstrate that the advice he provided to the clients was appropriate and in the best interests of the clients, based on their circumstances; and •prioritised his own commercial interests ahead of the interests of the clients.

Surveillance 23/02/2016 Financial Advisers - Compliance & Urban Seed Project Marketing Pty Ltd (ACN Potentially misleading representations about Self Managed Skybridge, Urban Seed and Tatnell have all 16-041MR ASIC stops potentially misleading 16-041MR supervision 151 319 014), Skybridge Portfolios Pty Ltd Super Funds (SMSFs) in social media (Facebook and YouTube) removed the relevant posts and videos, have SMSF social media advertising (AFSL 407092) and Tatnell DLS Pty Ltd (AR advertising. ensured future marketing on social media number 1235596) will undergo appropriate review and approvals processes, and have fully cooperated in responding to ASIC's concerns.

Surveillance 24/02/2016 Financial Advisers - Compliance & Rankothge Bandula (Ben) Jayaweera. Mr Jayaweera recommended that clients invest in an ASIC has accepted an enforceable 16-046MR Queensland adviser permanently 16-046MR supervision unregistered aqua agriculture investment scheme, which was undertaking (EU) from Mr Rankothge Bandula removed from the financial services industry operated by Growth Plus, without reasonably considering the (Ben) Jayaweera. The EU permanently clients' goals and financial situation. The recommended prevents Mr Jayaweera from providing investments were not consistent with the clients' risk profile financial product advice to any retail client. and exposed the clients' superannuation benefits to Additionally, he will not be involved in any inappropriate levels of risk. capacity in the provision of financial product ASIC had concerns that Mr Jayaweera may have failed to advice to retail clients. •Act in the best interests of clients in relation to personal advice; •Ensure the advice provided to clients was appropriate; and •Ensure that when providing advice, he prioritised his clients' interests before his own or that of Growth Plus.

Surveillance 2/03/2016 Financial Advisers - Compliance & Wilson HTM Ltd Wilson HTM Ltd (Wilson), iSelect Life Pty Ltd (iSelect) and Wilson and Citywide have removed the term 16-056MR ASIC targets financial services 16-056MR supervision Citywide Insurance Brokers and Financial Planners Pty Ltd “independent” from their websites and licensees using the term 'independent' (Citywide) made claims about the independence of their Wilson and iSelect have removed the term services following concerns raised by ASIC. Under the from their marketing material. In addition, Corporations Act, a person who carries on a financial services Wilson, iSelect and Citywide have all taken business or provides a financial service is prohibited from steps to review their marketing approval using the restricted terms “independent” in relation to the processes and have fully cooperated in business or service. responding to ASIC's concerns.

Surveillance 30/03/2016 Financial Advisers - Compliance & CMH Financial Group ASIC found CMH Financial Group Pty Ltd (CMH) had failed to ASIC accepted an EU in which CMH has 16-097MR ASIC accepts enforceable 16-097MR supervision provide advice about self-managed superannuation funds agreed to appoint an independent expert to undertaking from SMSF advice provider CMH (SMSF) that was appropriate and in the best interests of undertake a program of pre-vet and audit Financial Group clients. ASIC also found there was inadequate monitoring and reviews to test the compliance of SMSF supervision of representatives by CMH. ASIC was also advice prepared on behalf of CMH. concerned about the adequacy of risk management arrangements, adequacy of arrangements to manage conflicts of interest and procedures. RCD.0015.0003.0335

Public Results & Reports

Surveillance 31/03/2016 Financial Advisers - Compliance & Allegianz Pty Ltd Allegianz Pty Ltd failed to comply with a number of key Suspended AFSL for 6 months. 16-099MR AFS licensee suspended for failing 16-099MR supervision obligations as a financial services licensee. In particular, ASIC to lodge financial statements found that Allegianz •failed to lodge financial statements, auditor reports and auditor opinions over consecutive years. This is in breach of both its legal obligations and licence conditions, despite repeated requests from ASIC to comply; and •failed to advise ASIC in writing, within 10 business days, of becoming aware of this significant breach.

Surveillance 17/05/2016 Financial Advisers - Compliance & HSBC Bank Australia Ltd ASIC surveillance of HSBC's advice on retail structured ASIC accepted an EU from HSBC that requires 16-145MR ASIC accepts enforceable 16-145MR supervision products found instances where advisers had obtained little or HSBC to review and remediate clients who undertaking from HSBC Bank Australia no information about clients' relevant personal circumstances received potentially deficient advice on retail following concerns about deficient advice on and raised concerns that advice may not have been structured products between January 2009 retail structured products appropriate for the clients' circumstances or needs and March 2013.

Surveillance 17/05/2016 Financial Advisers - Insurance advice Michael Melamed ASIC has concerns that Mr Melamed’s advice about life ASIC accepted an EU in which Mr Melamed 16-147MR ASIC accepts enforceable 16-147MR insurance did not meet the standards required of a financial undertakes that he will not provide financial undertaking from Victorian financial adviser adviser and that he had failed to comply with financial services services on behalf of himself or any other to withdraw from financial services for three laws. In particular, ASIC has concerns that Mr Melamed person, for a period of three years. Should Mr years •failed to maintain accurate records relating to the provision Melamed seek re-entry to the financial of financial product advice; services industry after the three year period, •failed to make reasonable inquiries or otherwise into his he must notify ASIC and first undergo clients' relevant objectives, financial situation and needs; prescribed additional training in the provision •failed to conduct a needs analysis to determine if the amount of financial product advice. of insurance cover sought was in his clients' best interests; •recommended insurance cover where clients were unable to afford insurance premiums; and •failed to demonstrate the ability, professional skills and knowledge required to competently provide financial services.

Surveillance 18/05/2016 Financial Advisers - Compliance & Ascentiv Group pty Ltd ASIC identified concerns about the appropriateness of AFS ASIC has accepted an EU from Ascentiv, 16-149MR ASIC accepts enforceable 16-149MR supervision licence holder Ascentiv's advice to clients to establish or use a agreeing to cancel its AFS licence and write to undertaking from Ascentiv Group Pty Ltd self-managed superannuation fund (SMSF). In particular, ASIC some of its existing clients to inform them of relating to SMSF advice had concerns about Ascentiv's failure to the EU and the clients' rights to dispute •ensure its representatives provide SMSF advice that was resolution. appropriate and in the best interests of their clients •adequately manage conflicts of interest •adequately monitor and supervise its representatives, and •ensure its representatives were adequately trained and competent to provide SMSF advice.

Surveillance 23/05/2016 Financial Advisers - Other Brian Dobinson ASIC found that Mr Dobinson ASIC accepted an EU, which permanently 16-153MR Queensland adviser permanently 16-153MR •used a 'one size fits all' advice model regardless of individual prevents Mr Dobinson from being involved in removed from the financial services industry client circumstances; any capacity with the provision of financial •failed to properly consider and advise whether it was in the services or products. best interests of a client to switch from existing defined benefit super products to accumulation super products; •advised clients to switch super funds when it was not appropriate to do so; •disclosed fees and charges in a way that made the recommended product appear cheaper than it actually was; and •failed to demonstrate the ability, professional skills and knowledge required to competently provide financial services. As a result, ASIC found that Mr Dobinson failed to act in his clients' best interests when providing advice. RCD.0015.0003.0336

Public Results & Reports

Surveillance 24/05/2016 Financial Advisers - Bank advice Rommel Panganiban ASIC's concerns related to advice given by Mr Panganiban to Federal Court has dismissed an application 16-160MR Federal court dismisses application 16-160MR approximately 50 clients while he was a representative of made by Mr Panganiban, to restrain ASIC by NSW financial planner to restrain ASIC AMP Financial Planning Pty Ltd. from making a decision on a possible from making decision on possible banning financial services banning order against him. order Mr Panganiban was also ordered to pay ASIC's costs. Surveillance 30/05/2016 Financial Advisers - Compliance & Winley Insurance Group Pty Ltd ASIC found that Winley Insurance Group failed to comply with Cancelled AFSL. 16-170MR ASIC cancels AFS licence for failing 16-170MR supervision a number of its key obligations as a financial services to lodge financial statements licensee.In particular, ASIC found that Winley •failed to lodge financial statements, auditor reports and auditor opinions over consecutive years, in breach of both its legal obligations and licence conditions, despite repeated demands from ASIC to comply; and •failed to advise ASIC in writing when it became aware of this significant breach.

Surveillance 28/06/2016 Financial Advisers - Compliance & Advamode Financial Pty Ltd Licence cancellation and liquidation follow previous ASIC Cancelled AFSL. 16-206MR ASIC cancels Advamode's AFS 16-206MR supervision action against Advamode that led to licence conditions being licence imposed on the financial services firm on 2 September 2015. The initial ASIC surveillance raise concerns about their ability to effectively carry out their supervisory requirements.

Surveillance 1/07/2016 Financial Advisers - Compliance & Etern Wisdom Global Pty Ltd ASIC found that Etern Wisdom Global Pty Ltd Cancelled AFSL. 16-214MR ASIC cancels AFS licence for failing 16-214MR supervision •failed to lodge financial statements, auditor reports and to lodge financial statements auditor opinions over consecutive years. This is in breach of both its legal obligations and licence conditions; and •failed to advise ASIC in writing, within 10 business days, of becoming aware of this significant breach.

Surveillance 26/07/2016 Financial Advisers - Compliance & Edward Benefits Mr Edward Benefits failed to comply with a number of key Cancelled AFSL. 16-237MR ASIC cancels AFS licence for failing 16-237MR supervision obligations as a financial services licensee. to lodge financial statements In particular, ASIC found that Mr Benefits •failed to lodge financial statements, auditors reports and auditor opinions over consecutive years; and •failed to advise ASIC in writing, within 10 business days, of becoming aware of this significant breach.

Surveillance 26/07/2016 Financial Advisers - Other Mark Steven Grevsmuhl Setting up fake superannuation investments and defrauding Mr Grevsmuhl was sentenced to 13 and a half 16-238MR ASIC permanently bans Mark 16-238MR approximately 74 complainants of $6 million. years imprisonment after setting up fake Steven Grevsmuhl due to serious fraud superannuation investments and defrauding convictions approximately 74 complainants of $6 million. As a result of Mr Grevsmuhl's conviction, he is also automatically disqualified from acting as a director of a company until at least five years from the day he is released from prison.

Surveillance 13/09/2016 Financial Advisers - Compliance & Neo Financial Solutions Pty Ltd ASIC's concerns about Neo Financial Solutions Pty Ltd included ASIC accepted an EU, which will require Neo 16-305MR ASIC accepts enforceable 16-305MR supervision failing to address important client objectives, not making to engage an independent expert to assess, undertaking to address compliance failures of reasonable enquiries to determine all relevant client report and make recommendations about Perth financial advice firm circumstances and not fully considering the consequences Neo’s risk management and compliance when replacing existing financial products. frameworks. ASIC was also concerned Neo failed to employ appropriate risk management and compliance frameworks having regard to the nature, size and complexity of its business, which had grown considerably since its inception.

Surveillance 14/09/2016 Financial Advisers - Insurance advice Rommel Panganiban Mr Panganiba FAiled to act in his clients' best interests or have Permanently banned from providing financial 16-309MR ASIC permanently bans former 16-309MR a reasonable basis for advice, and that he had prioritised his services. AMP financial planner own interests over that of his clients, as an authorised representative of AMP Financial Planning Pty Ltd.

Surveillance 16/09/2016 Financial Advisers - Compliance & Allegianz Pty Ltd Allegianz Pty Ltd failed to lodge financial statements and Cancelled AFSL. 16-314MR ASIC cancels a suspended 16-314MR supervision auditor reports during a suspension period of its AFSL arising Australian Financial Services licence after out of failing to meet such obligations. failure to lodge financial statements and auditor reports RCD.0015.0003.0337

Public Results & Reports

Surveillance 1/11/2016 Financial Advisers - Compliance & Rural & General Insurance Broking Pty Limited Failing to lodge financial statements, auditor's reports and Suspended AFSL until 5 April 2017 - Iif they do 16-370MR ASIC suspends AFS licence for 16-370MR supervision auditor's opinions for the financial years ending 30 June 2014 not lodge the required documents by this failing to lodge financial statements and 30 June 2015. date, ASIC will consider whether the licence should be cancelled.

Surveillance 3/11/2016 Financial Advisers - Insurance advice Christopher Young ASIC found that Mr Young, a life insurance financial adviser, Banned from providing financial services for a 16-374MR ASIC bans Brisbane life insurance 16-374MR had failed to act in his clients' best interests when providing period of five years. financial adviser for five years advice and that he had failed to comply with several financial services laws. Surveillance 17/11/2016 Financial Advisers - Insurance advice Stephen Michael Bekton ASIC found Mr Beckton had recommended clients change Banned from providing financial services for 16-392MR ASIC bans former Sentinel Private 16-392MR superannuation and insurance products in circumstances five years. Wealth adviser for five years where there was little benefit, but significant cost, to the client in changing. In doing so, Mr Beckton •failed to act in the best interests of his clients; •failed to provide appropriate advice to his clients; •failed to accurately disclose the fees associated with his advice; and •failed to put the interests of his clients ahead of his own, when he knew that there was a conflict of interest.

Surveillance 28/11/2016 Financial Advisers - Insurance advice Anthony Bishop Between 2010 and 2014, when he was an employee Banned Mr Anthony Bishop from providing 16-409MR ASIC bans former Westpac 16-409MR representative of Westpac Financial Consultants Ltd, Mr financial services for eight years. financial planner for eight years Bishop was involved in the provision of inappropriate advice to clients and also involved in the failure to provide one client with a written statement of advice.

Surveillance 29/11/2016 Financial Advisers - Compliance & Group Underwriters & Managers Pty Ltd Failed to lodge financial statements, auditor reports and Suspended AFSL for 3 months. 16-411MR Australian Financial Services 16-411MR supervision auditor opinions for a period of three years (both licence licence suspended for failing to lodge conditions and legal obligations). financial statements Review 5/12/2016 Financial Advisers - Remediation Commonwealth Financial Planning Limited ASIC released findings of a report by KordaMentha Forensic Additional conditions were imposed by ASIC 16-415MR Update on licence conditions of 16-415MR Financial Wisdom Limited assessing the steps taken by Commonwealth Financial with consent. In relation to the compliance two CBA financial advice businesses ASIC Planning Limited (CFPL) and Financial Wisdom Limited (FWL) report, ASIC does not propose taking any releases compliance report from to communicate with and compensate customers of 15 former further action. KordaMentha Forensic advisers for advice they provided between 2003 and 2012. The report finds that in most instances (except in the case of timeframes), licensees complied with these additional licence obligations.

Surveillance 6/12/2016 Financial Advisers - Compliance & Carwardine Financial Services Pty Ltd ASIC’s surveillance of CFS identified concerns surrounding CFS has agreed to engage an independent 16-420MR ASIC surveillance leads Carwardine 16-420MR supervision compliance with the obligation to act in the best interests of expert who will review, assess and make Financial Services to review their financial clients and the appropriateness of advice provided to clients. recommendations regarding CFS’s advice business compliance with the financial services laws. The expert will also assess whether recommendations made have been implemented effectively.

Surveillance 6/12/2016 Financial Advisers - Compliance & Lionsgate Financial Group Pty Ltd ASIC was concerned that Lionsgate did not ASIC finished monitoring additional 16-421MR ASIC concludes monitoring 16-421MR supervision •maintain sufficient resources to carry out supervisory conditions which required the appointment Lionsgate’s compliance with additional arrangements of an independent expert to review all conditions •properly assess and monitor its representatives’ competence aspects of Lionsgate’s arrangements for to provide financial services compliance with its general licensee •take reasonable steps to ensure that its representatives obligations. In addition, for a set period of complied with financial services laws in providing financial time the expert also audited advice provided services to clients by Lionsgate’s representatives. •have adequate measures in place to meet its record-keeping obligations, and •implement supervisory arrangements, including an audit program, that were effective. RCD.0015.0003.0338

Public Results & Reports

Surveillance 8/12/2016 Financial Advisers - Insurance advice Mateen Mohammed ASIC found that Mr Mohammed Banned from providing financial services for 16-429MR ASIC bans life insurance financial 16-429MR • had not maintained the high standards expected of a seven years. adviser for seven years provider of financial services; • did not understand the duties and obligations imposed on a provider of financial services; and • could not be relied upon to discharge the duties and obligations imposed on a provider of financial services. ASIC also found he submitted an insurance application without his client's knowledge and as a result had misled/deceived the insurer as to his authority to do so. Surveillance 17/01/2017 Financial Advisers - Compliance & Core Insurance Pty Ltd Failure to lodge financial statements and auditor reports for a Cancellation of Australian Financial Services 17-008MR AFS licence cancelled after Core 17-008MR supervision period of two years. (AFS) licence. Insurance fails to lodge financial statements and auditor reports Surveillance 9/02/2017 Financial Advisers - Compliance & Masu Financial Management Pty Ltd ASIC made a decision to suspend MASU's AFS licence for 8 Administrative Appeals Tribunal (AAT) 17-024MR AAT affirms ASIC's decision to 17-024MR supervision weeks on 26 April 2016 following concerns that MASU had not affirmed ASIC's decision to suspend the suspend the AFS licence held by MASU complied with its obligations and was likely to contravene its Australian financial services (AFS) licence Financial Management Pty Ltd obligations. held by MASU Financial Management Pty Ltd (MASU) for a period of eight weeks. MASU appealed ASIC's decision to the Administrative Appeals Tribunal (AAT). On 31 January 2017, the AAT affirmed ASIC's decision to suspend MASU's AFS licence for 8 weeks.

Surveillance 7/03/2017 Financial Advisers - Compliance & Stephen Burgin ASIC was concerned by images and references on the website Closed website in response to concerns 17-053MR Advice licensee responds to ASIC's 17-053MR supervision which may have implied endorsements or approvals which raised by ASIC. concerns about misleading advertising were not actually held. This includes references to Mr Burgin as •A Senior ASIC Licensed Adviser; and •An ASIC Licensed Fractional Property Consultant.

Surveillance 24/03/2017 Financial Advisers - Compliance & Rebate Financail Services Pty Ltd Capstone In particular, ASIC has found that the two licensees failed to Cancelled the Australian financial services 17-081MR ASIC cancels AFS licences for 17-081MR supervision Capital Pty Ltd KABM Pty Ltd •lodge annual financial statements and auditor's reports; and (AFS) licences and suspension of the AFS failing to lodge annual statements •maintain membership with an external dispute resolution licence for KABM Pty Ltd for failing to lodge (EDR) scheme approved by ASIC. financial statements and auditor's reports for three consecutive years. ASIC has suspended KABM's licence until 1 May 2017. If KABM does not lodge the required documents by this date, ASIC will consider whether the licence should be cancelled.

Surveillance 6/04/2017 Financial Advisers - Compliance & Rural & General Insurance Broking Pty Limited ASIC has found that RGIB failed to lodge annual financial Cancelled the Australian Financial Services 17-102MR ASIC cancels suspended Australian 17-102MR supervision statements and auditor's reports for the financial years ending (AFS) licence. Financial Services licence for failing to lodge 30 June 2014 and 30 June 2015. annual statements Surveillance 6/04/2017 Financial Advisers - Compliance & Motorguard EWM Pty Ltd Failing to lodge its annual financial statements and auditor's Cancelled the Australian financial services 17-106MR ASIC cancels AFS licence of 17-106MR supervision report for three consecutive years. (AFS) licence. Motorguard EWM Pty Ltd Surveillance 19/05/2017 Financial Advisers - Remediation AMP, ANZ, CBA, NAB, Westpac Failing to provide general or personal financial advice to Repaid more than $60 million of an expected 17-145MR Compensation update major 17-145MR customers while charging them ongoing advice fees. $200 million-plus total in refunds and financial advisory institutions continue refund interest. programs for fees-for-no-service Surveillance 23/05/2017 Financial Advisers - Compliance & Divitiarum Audax Pty Limited Failing to lodge financial statements and auditor's reports for a Suspended the Australian financial services 17-148MR Australian financial services 17-148MR supervision period of four years. (AFS) licence from 8 May 2017. licence suspended for failing to lodge financial statements Surveillance 7/06/2017 Financial Advisers - Compliance & Investment Advisers Alliance Pty Limited Failing to lodge its financial statements and auditor's reports Cancellation of Australian financial services 17-174MR ASIC cancels AFS licence of 17-174MR supervision for four consecutive years. (AFS) licence. Investment Advisers Alliance Pty Limited Surveillance 7/06/2017 Financial Advisers - Compliance & Group Underwriters & Managers Pty Ltd GUM's AFS license has been suspended since November 2016 Cancellation of Australian financial services 17-171MR ASIC cancels a suspended 17-171MR supervision for failing to meet its financial services licensee obligations for (AFS) licence. Australian financial services licence after it consecutive years. After not lodging the financial statements failed to lodge financial statements and and auditor reports during the suspension period, ASIC auditors reports cancelled GUM's AFS licence on 15 May 2017. RCD.0015.0003.0339

Public Results & Reports

Surveillance 8/06/2017 Financial Advisers - Remediation Macquarie Equities ASIC found MEL had failed to address recurring compliance The remediation program established by 17-177MR Macquarie Equities remediation 17-177MR deficiencies that involved a significant number of its advisers. Macquarie Equities Limited (MEL) under its program - update These deficiencies were initially identified by MEL’s own client Enforceable Undertaking with ASIC is file reviews dating back to 2008. Specifically, the deficiencies substantially complete. include instances of

•client files not containing statements of advice

•advisers failing to demonstrate reasonable basis for advice provided to the client

•poor client records and lack of detail contained in advice documents

•lack of supporting documentation on files to determine if there was a reasonable basis for the advice provided to the client, and

•failing to provide sufficient evidence that clients were sophisticated investors.

Surveillance 26/06/2017 Financial Advisers - Bank advice David Fong ASIC decided to ban Mr Fong permanently after finding that Permanently banned from providing financial 17-204MR Former AMP Financial Planning 17-204MR he services and engaging in credit activities. adviser permanently banned from financial •engaged in dishonest conduct relating to client records and services and engaging in credit activities applications for financial products; •provided advice to clients that did not comply with the best interests duty, was not appropriate and did not leave them in a better position having received the advice.

Surveillance 6/07/2017 Financial Advisers - Insurance advice Rommel Panganiban ASIC banned Mr Rommel Panganiban, of Bella Vista, New The Administrative Appeals Tribunal (AAT) 17-227MR AAT affirms ASIC ban of former 17-227MR South Wales, from providing financial services after an ASIC has affirmed ASIC’s decision to permanently AMP financial planner surveillance found that he failed to act in his clients' best ban Mr Rommel Panganiban from providing interests or have a reasonable basis for advice, and that he financial services. had prioritised his own interests over that of his clients.

Surveillance 11/07/2017 Financial Advisers - Compliance & Grey Oak Services Pty Ltd Failing to lodge its financial statements and auditor's reports Cancellation of Australian financial services 17-233MR ASIC cancels AFS licence of Grey 17-233MR supervision for the 2013, 2014, 2015 and 2016 financial years. (AFS) licence. Oak Services Pty Ltd

Surveillance 19/07/2017 Financial Advisers - SMSF advice Jason Sean Atkins ASIC found that in providing advice Mr Atkins had failed to act Banned from providing financial services for a 17-241MR ASIC bans former Magnitude 17-241MR in the best interests of four clients. ASIC was not satisfied that period of three years. Group adviser Mr Atkins •had identified the subject matter of the advice •conducted a reasonable investigation into the financial products that might achieve the objectives and meet the needs of the client that would reasonably be considered as relevant to advice on that subject matter •understood what was required of him to comply with the best interest duty. RCD.0015.0003.0340

Public Results & Reports

Surveillance 25/07/2017 Financial Advisers - Compliance & Financial Choice Pty Ltd The first infringement notice related to a representation made Paid two ASIC infringement notice penalties 17-248MR Financial Choice pays $21,600 in 17-248MR supervision by Financial Choice in bulk emails the company sent to around totalling $21,600. penalties for false and misleading 215,000 consumers in 2016. The emails falsely stated that representations Financial Choice had been asked by the consumer’s superannuation fund to conduct a survey about their superannuation.

The second infringement notice related to misleading representations on the website findmysuper.com.au, which is operated by Financial Choice. ASIC considered that those representations would lead consumers to believe that they needed to use Financial Choice’s services to •find their lost superannuation for free; and •maintain contact with their superannuation fund while overseas.

Surveillance 1/08/2017 Financial Advisers - Compliance & Financial Index Australia Pty Ltd ASIC identified a number of concerns in relation to FIA's EU under which FIA acknowledged that ASIC's 17-256MR ASIC finds Financial Index Australia 17-256MR supervision financial advice business, including out-of-date policies and concerns were reasonable and has agreed to moved clients onto more expensive products procedures, deficiencies in the file audit process, and •engage an independent expert to review without justification insufficient information being provided to clients who were client files, and being moved into new products. •remediate clients where appropriate.

Surveillance 14/08/2017 Financial Advisers - Insurance advice Travis Byron McLean ASIC's surveillance of Mr McLean found that he failed to Banned from providing financial services for a 17-270MR ASIC bans Queensland financial 17-270MR •provide sufficient detail in Statements of Advice to enable his period of five years. adviser clients to make informed decisions about his advice; •keep proper records; •make reasonable enquires into clients' relevant objectives, financial situation and needs; •determine if the amounts of insurance cover he recommended were appropriate and if premiums were affordable; and •conduct a reasonable investigation into financial products that might achieve the objectives of the clients.

Surveillance 8/09/2017 Financial Advisers - SMSF advice Lawrence Toledo ASIC found that Mr Toledo failed to Banned from providing financial services for 17-304MR Queensland financial adviser 17-304MR •properly identify what it was that his clients wanted advice seven years. banned for failing to act in clients' best on, and to reasonably investigate what financial products interests would best suit their needs; •understand what was required of him to comply with the best interests duty; and •provide advice that was appropriate to the clients. Surveillance 29/09/2017 Financial Advisers - Other Koresh Daniel Houghton ASIC's surveillance of Mr Houghton found that he Permanently banned from providing financial 17-329MR Former Victorian financial adviser 17-329MR •had created false documents by cutting and pasting customer services banned for forgery signatures onto a letter nominating Mr Houghton as their adviser; •completed and submitted insurance application forms on behalf of clients with incorrect information; •failed to make reasonable enquires into clients' relevant objectives, financial situation and needs; and •failed to conduct a reasonable investigation into financial products that might achieve the objectives of the clients.

Surveillance 13/10/2017 Financial Advisers - SMSF advice Drew Grosskreutz ASIC found that Mr Grosskreutz failed to Banned from providing financial services for 17-346MR Queensland financial adviser 17-346MR •properly identify what it was that his clients wanted advice three years. banned for failing to act in clients' best on, and to reasonably investigate what financial products interests would best suit their needs; •make reasonable enquiries into the clients' relevant objectives, financial situation and needs; •give priority to his clients' interests; and •understand what was required of him to comply with the best interests duty. RCD.0015.0003.0341

Public Results & Reports

Surveillance 16/10/2017 Financial Advisers - Compliance & Sentinel Private Wealth Pty Ltd ASIC's surveillance found that SPW advisers had not Enforceable understaking, under which SPW 17-349MR ASIC accepts enforceable 17-349MR supervision completed adequate inquiries into clients' circumstances, had will engage an independent expert to assess, undertaking from Sentinel Private Wealth not completed sufficient analysis to determine the suitability make recommendations and report on SPW's of strategies, had not clearly defined the scope of advice, and audit framework. The independent expert's had used generic reasons to support advice. Further, SPW's work will include a review of SPW's policies audits did not sufficiently identify these issues. and procedures followed by ongoing reviews of its client file audits for approximately 18 months.

The EU follows an ASIC surveillance of SPW's business, which was prompted by actions taken against two of its financial advisers.

Surveillance 8/11/2017 Financial Advisers - Compliance & Divitiarum Audax Pty Limited Mackellar Mackellar failed to lodge financial statements and auditor's ASIC cancelled the Australian financial 17-375MR Two companies lose Australian 17-375MR supervision Financial Services Pty Ltd reports for a period of two years. services (AFS) licence of NSW-based financial services licences Divitiarum Audax Pty Limited (Divitiarum Divitiarum Audax's AFS licence has been cancelled, following a Audax) and suspended the AFS licence of suspension in May 2017, for continued failure to lodge NSW-based Mackellar Financial Services Pty financial statements and auditor's reports for a period of four Ltd (Mackellar). years.

Surveillance 14/11/2017 Financial Advisers - Insurance advice Dean Hartmann An ASIC review of client files found that in some instances Mr Enforceable undertaking under which Mr 17-382MR Enforceable undertaking excludes 17-382MR Hartmann had failed to act in the best interests of clients Hartmann has agreed to cease providing Queensland financial adviser for five years when he financial services for a period of at least five years. Once the five year exclusion period is •advised clients to switch insurance arrangements and completed, he will be required to adhere to superannuation funds without being able to demonstrate why supervision requirements upon re-entering this was appropriate; and the industry.

•did not conduct reasonable investigations into clients' objectives for insurance requirements or insurance products.

Surveillance 21/11/2017 Financial Advisers - Compliance & Carwardine Financial Services Pty Ltd Independent external review of Carwardine Financial Services CFS has implemented changes to its 17-395MR Carwardine Financial Services 17-395MR supervision Pty Ltd's (CFS) compliance with a range of financial services processes including improvements in record finalises independent review laws, as requested by ASIC. keeping and increased monitoring and reporting within its compliance functions.

Surveillance 22/11/2017 Financial Advisers - Compliance & Financial Stewards Pty Ltd Failure to co-operate with an ASIC surveillance. Cancellation of Australian financial services 17-397MR ASIC cancels AFS licence for failing 17-397MR supervision (AFS) licence. to cooperate with an ASIC surveillance ASIC also found that Financial Stewards failed to

•take reasonable steps to ensure its representatives complied with financial services laws; •comply with the conditions on its licence; •lodge annual financial statements and auditor's reports; •recognise and report significant breaches; and •ensure its services were provided efficiently, honestly and fairly.

Surveillance 28/11/2017 Financial Advisers - SMSF advice Mr Ramana Rao Not adequately trained or competent and demonstrated a lack Banned from providing financial services for 17-408MR ASIC bans South Australian 17-408MR of professionalism, judgement and integrity when advising three years. financial adviser for three years some of his SMSF clients. Surveillance 1/12/2017 Financial Advisers - Insurance advice Julie Hamilton ASIC found that Ms Hamilton had failed to Banned from providing financial services for 17-415MR ASIC bans Victorian financial 17-415MR three years. adviser for three years •make enquiries into her clients' financial circumstances when recommending switching their superannuation and insurance; •consider her clients' circumstances when providing advice on superannuation and insurance; •give priority to the interests of her clients when providing advice; and •disclose fees and charges associated with the implementation of her advice. RCD.0015.0003.0342

Public Results & Reports

Surveillance 5/12/2017 Financial Advisers - Compliance & My Planner Australia Pty Ltd MyPlanner was giving poor financial ad ice, and lacked Imposition of additional conditions on the 17-418MR ASIC imposes additional licence 17-418MR supervision adequate monitoring and supervision of its representatives. Australian financial services (AFS) licence. conditions on MyPlanner Australia and MyPlanner Professional Services MyPlanner advisers had not undertaken adequate inquiries The conditions require the licensees to into clients' relevant circumstances, had not completed engage an independent expert to assess, sufficient analysis to determine the suitability of strategies, make recommendations and report on the had not clearly defined the scope of advice, and had used monitoring and supervisory arrangements of generic reasons to support advice. Further, MyPlanner's pre- the licensees, including the current pre-vet vet and audits did not sufficiently identify these issues. and audit programs. The initial report will be followed by three, quarterly reviews of client file audits. Following this, the expert will conduct a final review of the licensees' implementation and effectiveness of the recommendations.

Formal investigation (an investigation 6/12/2017 Financial Advisers - Other Matthew Manson Wallis Rochelle Roanna ASIC found that between June 2015 and December 2015, Mr Both Matthew Manson Wallis and Rochelle 17-420MR ASIC permanently bans directors 17-420MR commenced pursuant to s13 ASIC Act or s247 Manoharan Wallis and Ms Manoharan submitted insurance applications to Roanna Manoharan were permananently of Found Financial for dishonest and NCCP Act) Zurich Australia Ltd that banned from 24 November 2017. deceptive conduct

•were not requested by the clients, and were made without their knowledge; and

•contained false information.

Surveillance 8/12/2017 Financial Advisers - Compliance & Michael James Haley ASIC found that he had ceased to carry on a financial services Cancellation of Australian Financial Services 17-424MR ASIC cancels AFS licence of 17-424MR supervision business (AFS) licence. Michael James Haley Surveillance 15/12/2017 Financial Advisers - Compliance & AIW Dealer Services Pty Ltd Otium advisers had used a 'one size fits all' advice model, Enforceable undertaking (EU) from Australian 17-439MR ASIC accepts enforceable 17-439MR supervision advised clients to switch superannuation funds when it was financial services licensee AIW Dealer undertaking from AIW Dealer Services inappropriate to do so and failed to demonstrate the ability, Services Pty Ltd (AIW) to conduct an professional skills and knowledge required to competently independent review of its advice processes. provide financial product advice. Under the EU, AIW acknowledges that these ASIC is concerned that AIW may have failed to take reasonable concerns are reasonable, and will engage an steps to ensure that its representatives complied with financia independent expert to assess, make services laws, and that it did not have available adequate recommendations and report on the resources to provide financial services and to carry out effectiveness of its policies and procedures. supervisory arrangements. This will also include a review of a sample of Otium client files to test AIW's file review methodology and compliance with the Corporations Act.

Surveillance 19/12/2017 Financial Advisers - Compliance & James Fraser Failed to act in the best interests of some clients when he ASIC has accepted an enforceable 17-447MR Enforceable undertaking excludes 17-447MR supervision • advised them to establish self-managed superannuation undertaking from former MyPlanner MyPlanner financial adviser for two years funds, and switch existing superannuation and insurance Australia Pty Ltd adviser, James Fraser, where arrangements into those funds without appropriate he has agreed that he will not provide consideration of the clients' existing arrangements; financial services for a period of at least two • failed to disclose information about relationships with years. external parties, or the remuneration agreements with those parties that would capable of influencing the advice; • failed to provide a statement of advice when personal advice was provided.

Surveillance 17/02/2009 Market participant & OTC issuers - All Tricom Group On two consecutive days, 29 and 30 January 2008, the normal Tricom has agreed with ASIC to accept AD09-20 Tricom update AD09-20 12.30pm ASX market-wide settlement process was delayed additional licence conditions on a number of because Tricom Equities was unable to meet settlement Tricom entities. ASIC will receive a series of obligations. reports from an ASIC-approved consultant over the next 12 months on the adequacy of these measures and their implementation. RCD.0015.0003.0343

Public Results & Reports

Surveillance 1/11/2011 Market participant & OTC issuers - All MF Global Australia Limited ASIC is aware that companies in the MF Global group have Insolvency firm Deloitte has been appointed 11-237AD MF Global 11-237AD been placed into administration. This impacts a number of administrator to the MF Global group in companies in Australia. Australia. The administrator will contact clients to advise how their positions and funds are affected.

Formal investigation (an investigation 4/04/2013 Market participant & OTC issuers - All Halifax Investment Services Ltd Licence compliance issues with financial services practices, in An enforceable undertaking (EU) from Halifax 13-071MR ASIC review prompts Halifax to 13-071MR commenced pursuant to s13 ASIC Act or s247 particular Investment Services Ltd (Halifax) requiring enter into enforceable undertaking NCCP Act) •supervision and monitoring of representatives Halifax to appoint an independent consultant •having technological resources to supervise and monitor to review its business and develop a plan to representatives rectify the deficiencies •oversight of the training and professional standards of representatives •breach assessment and reporting processes, complaints assessment and handling •processes for the authorisation and publication of marketing materials, and •procedures and practices in assessing counterparty risks.

Surveillance 31/07/2013 Market participant & OTC issuers - All Stellar Securities Pty Ltd Following an ongoing monitoring of Stellar Securities, ASIC ASIC cancelled the Australian financial 13-198MR ASIC cancels securities dealer’s 13-198MR found Stellar Securities had failed to comply with conditions of services (AFS) licence of Perth securities licence its AFS licence including its financial requirement conditions. dealer Stellar Securities Pty Ltd (Stellar Securities). ASIC also imposed conditions requiring Stellar Securities for the next 12 months to extend professional indemnity insurance and maintain its membership of an external dispute resolution service.

Surveillance 26/08/2013 Market participant & OTC issuers - All Roco International Pty Ltd ASIC surveillance, in relation to issuers of retail over-the- ASIC imposed additional licence conditions 13-229MR ASIC imposes additional licence 13-229MR counter derivatives, identified concerns about the adequacy of requiring Roco to conditions on Roco Forex Roco's market risk management systems. •document its governance, internal control and compliance arrangements for managing market risk •engage an independent expert to review and report on the continuing adequacy and effectiveness of Roco's risk management systems over a two-year period, and •implement any recommendations made by the independent expert.

Formal investigation (an investigation 17/12/2013 Market participant & OTC issuers - All Commonwealth Bank of Australia Group - Withdrawing client money from trust accounts without the Accepted an enforceable undertaking (EU) 13-344MR CommSec and Ausiex enter into 13-344MR commenced pursuant to s13 ASIC Act or s247 Commonwealth Securities Limited (CommSec) required written authorisations and failing to separate client from CommSec and Ausiex. enforceable undertaking with ASIC NCCP Act) and Australian Investment Exchange Ltd money from CommSec's and Ausiex’s money. (Aussiex) Under the EU, CommSec and Ausiex must appoint an independent expert to review their handling of client money and develop a plan to rectify any deficiencies found in their client money processes. The independent expert will report to CommSec and Ausiex by mid- 2014, following which CommSec and Ausiex must provide and implement a remediation plan if the independent expert report makes recommendations to do so.

Surveillance 13/10/2014 Market participant & OTC issuers - All Pepperstone Group Limited Pepperstone was directly advertising financial services to Pepperstone agreed to cease providing 14-267MR ASIC concerns see Pepperstone 14-267MR Japanese investors, despite not being appropriately licensed financial services in Japan. exit the Japanese market by the Japanese Financial Services Agency. Further, it emailed all existing Japanese clients to inform them that it does not hold a licence in Japan and to allow them to close their current open positions and withdraw their funds. RCD.0015.0003.0344

Public Results & Reports

Surveillance 8/12/2014 Funds management - Other Calibre Investments Pty Ltd Concerns over the business’s compliance and risk frameworks, Calibre Investments Pty Ltd to implement 14-327MR ASIC surveillance prompts FX 14-327MR their advice to clients and their supervision of representatives. changes to the way it offers FX services to provider to enhance compliance procedures retail clients.

Calibre appointed an independent consultant to review its Managed Discretionary Account (MDA) policies and procedures. The independent consultant to report back to ASIC.

Calibre to also provide new statements of advice to all MDA clients and enhance its compliance department.

Surveillance 13/02/2015 Market participant & OTC issuers - All B.H.N.V Online Ltd trading as Opteck Marketing and offering a financial product (binary options) ASIC warned against dealing with an 15-024MR ASIC warns of Opteck and other 15-024MR without holding an AFS licence. unlicensed binary option provider unlicensed binary option providers Opteck.com, cautioning all Australian retail investors about the risks of dealing with unlicensed binary options providers.

BHNV (the operator of Opteck.com) also undertook to stop marketing and offering financial products and services to Australian investors.

Surveillance 27/03/2015 Market participant & OTC issuers - All Grandegoldens Pty Ltd Website which falsely claimed the entity was licensed and Warned investors and entity eventually took 15-066MR ASIC issues warning about 15-066MR authorised by ASIC down the misleading statements Grandegoldens Surveillance 24/04/2015 Market participant & OTC issuers - All Advanced Markets Ltd Statements were made on a website which may have been Advanced Markets agreed to make changes 15-085MR FX broker Advanced Markets 15-085MR misunderstood as implying that ASIC regulates all financial to its website clarifying the jurisdictional clarifies its AFS licence services provided by Advanced Markets, including those which limitations of its AFS licence and Australian are not carried on in Australia. As the entity was based regulation. overseas, none of the overseas financial services were provided in this jurisdiction and thereforew were not provided under the AFS licence.

Surveillance 21/05/2015 Market participant & OTC issuers - All FXPrimus Australia Pty Ltd, FX Primus Group The provision of unlicensed financial services to Australian FX Primus agreed to make changes to its 15-120MR ASIC requires FX Primus to cease 15-120MR Limited, FX Primus Europe (CY) Ltd investors, with various entities within the FX Primus group of websites and to notify its Australian clients targeting Australian investors companies. that it is not licensed to provide them with financial services. Multiple statements on websites and in advertising that was directed towards Australians and made it appear as if the company was adequately authorised to offer financial services to Australians Review 28/05/2015 Market participant & OTC issuers - All BBY Ltd - BBY Group [Not misconduct, but events giving rise to suspension of AFS ASIC suspended the Australian financial 15-133MR ASIC suspends BBY Ltd’s AFS 15-133MR licences ] services (AFS) licences held by BBY Ltd, BBY licence Advisory Services Pty Ltd, and SmarTrader The appointment of Stephen Vaughan and Ian Hall as joint Limited following the appointment of joint administrators to BBY Ltd, BBY Advisory Services Pty ltd and administrators, recievers and managers. SmarTrader Limited on 17 May 2015. The terms of the AFS licence suspensions Steven Parbery and Brett Lord were appointed receivers and allowed the licences to continue in effect for managers of BBY Ltd and BBY Advisory Services Pty Ltd on 18 limited purposes aimed at protecting clients May 2015. of the licensees.

Surveillance 18/06/2015 Market participant & OTC issuers - All FXTS Guru FXTS Guru was a cold-calling operation promoting FX and FXTS Guru agreed to cease contacting 15-152MR Cold calling firm FXTS Guru cut off 15-152MR binary option products to investors worldwide. It claimed on Australian resident investors and to change following ASIC concerns its website that is made up to 3000 calls a day to investors the information on its website to remove across 40 countries, including Australia. references to Australia.

FXTS Guru was and is not licensed to provide financial services in Australia. In addition, none of FXTS Guru’s listed clients were licensed to provide financial services in Australia. RCD.0015.0003.0345

Public Results & Reports

Surveillance 11/08/2015 Market participant & OTC issuers - All Australian Capital Markets Advisory Services ACMAS ceased providing financial services after a change of all Licence suspension. The entity was unable to 15-217MR ASIC suspends retail OTC 15-217MR Pty Ltd (ACMAS) directors and shareholdings in June 2015 when the entity provide sufficient information to reactive its derivative licence after change of control became a wholly owned subsidiary of Formax International licence and eventually agreed to cancel its Market Limited. licence.

The new management of the company was unable to demonstrate it was fully compliant with many of the AFS licensing requirements. Surveillance 27/08/2015 Market participant & OTC issuers - All FIBO Group Limited and Trading Point of A British Virgin Island company, FIBO Group Limited (FIBO), The two entities agreed to cease providing 15-233MR Two overseas entities agree to 15-233MR Financial Instruments Limited and a Cyprus company, Trading Point of Financial Instruments unlicensed financial services to Australians. stop providing unlicensed FX services Limited (Trading Point), were not appropriately licensed to provide financial services in Australia. They also agreed to remove references to the Australian entities and Australian regulations Both entities, however, had Australian clients and were from their group websites. advertising their services on their respective group websites, which also contained information about an Australian group entity which had a similar name (and did have an AFSL).

Surveillance 23/09/2015 Market participant & OTC issuers - All website www.fxabs.com.au and Websites www.fxabs.com.au and www.fxabs.com falsely ASIC informed the public about the false 15-267MR ASIC warns about false claims on 15-267MR www.fxabs.com claiming their services are regulated by ASIC and that they are claims. www.fxabs.com.au linked to the Australian company Australia ABS Group Pty Ltd (Australia ABS Group).

In addition the websites are offering CFD and margin FX services. Surveillance 15/10/2015 Financial Advisers - Other LSG Group Pty Ltd, Easy Capital Global Pty Ltd Following a hearing, the ASIC Delegate found LSG had ASIC cancelled the Australian financial service 15-293MR ASIC cancels retail derivative 15-293MR and AIFA Global Pty Ltd •repeatedly failed to comply with the conditions on its licence licence (AFSL) of LSG Group Pty Ltd , formerly issuer's licence and financial services laws; known as NZ Global Financial Trading Pty Ltd, •made misleading or deceptive representations on its Easy Capital Global Pty Ltd and AIFA Global Australian website, Financial Services Guide and PDS Pty Ltd (ACN 154 582 242) (LSG). concerning products it offered; •made misleading or deceptive representations on its Chinese website; and •failed to do all things necessary to conduct financial services in an efficient, honest and fair manner Surveillance 12/11/2015 Market participant & OTC issuers - All Ingot Brokers (Australia) Pty Ltd Ingot was in breach of the financial requirements of its Ingot has fully cooperated with ASIC's 15-333MR Ingot Brokers rectifies its 'cash and 15-333MR Australian financial services licence (AFSL), as a result of enquiries into the matter and rectified the cash equivalents' arrangements to meet inappropriately including funds held as collateral against breach in a timely manner. financial resource requirements derivative contracts to meet the 'cash and cash equivalents' aspect of its net tangible assets (NTA) requirement. Ingot transferred adequate monies to an authorised deposit taking institution to cover As a licensed retail OTC derivative issuer, Ingot must hold 50% its 'cash and cash equivalents' requirement in of its NTA requirement in cash or cash equivalents and 50% in order to comply with its financial resource liquid assets. requirements under ASIC Class Order [CO 12/752] Surveillance 16/11/2015 Market participant & OTC issuers - All Formax International Market Limited A media release from the group website of Formax Following concerns raised by ASIC, Formax 15-336MR Formax removes false statements 15-336MR International Market Limited falsely claimed its wholly owned has removed the false claims on its website. about the suspension of its subsidiary's subsidiary, Australian Capital Markets Advisory Services Pty licence Ltd ACN 150 530 331 (ACMAS), had its Australian financial services licence (AFSL) suspended as part of a normal practice that occurs whenever an enterprise restructures.

The release also claimed that the suspension will be lifted once the restructure had been finalised.

Surveillance 18/11/2015 Market participant & OTC issuers - All Boca Global Financial Group Boca Global Financial Group Pty Ltd ACN 602 109 035 (Boca) Boca agreed to remove statements on its 15-340MR Boca Global Financial Group 15-340MR published potentially misleading or deceptive statements on website removes potentially misleading website its website suggesting it is ASIC regulated or authorised to representations provide financial services in Australia.

Boca is neither currently authorised to provide financial services in Australia under an Australian financial services licence nor is it exempted from holding a licence. RCD.0015.0003.0346

Public Results & Reports

Formal investigation (an investigation 19/11/2015 Market participant & OTC issuers - JP Morgan entities Significant and repeated failures to comply with the disclosure ASIC accepted an enforceable undertaking 15-339MR ASIC accepts enforceable 15-339MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks J.P. Morgan Securities plc (JPMSPL); conditions of ASIC exemptions relied upon by the J.P. Morgan (EU) from the JP Morgan entities, under undertaking from J.P. Morgan entities NCCP Act) JP Morgan Securities (Asia Pacific) Ltd entities. which (JPMSAPL); and J.P. Morgan Securities LLC (JPMSLLC) The ASIC exemptions provide relief to the J.P. Morgan entities •an independent expert must be apppointed from the requirement to hold an Australian financial services to review its compliance framework; licence (AFSL) under the Corporations Act. •the J.P. Morgan entities must provide and implement a remediation action plan; The number and duration of these failures demonstrated a •the independent expert will assess and test systemic weakness in the compliance controls implemented the remedial actions; and by the J.P. Morgan entities. • the J.P. Morgan entities must provide and implement a second remediation plan if the independent expert report makes recommendations to do so.

Surveillance 30/11/2015 Market participant & OTC issuers - All Morgans Financial Limited (Morgans) Concerns relating to Morgans' arrangements for monitoring ASIC and Morgans have agreed to the 15-357MR ASIC imposes licence conditions on 15-357MR and supervising its representatives after a number of serious imposition of new licence conditions on Morgans Financial Limited breach incidents over recent years. Morgans' Australian financial services licence. This includes an agreement to appoint an ASIC was also concerned about Morgans' internal controls for independent compliance consultant to the handling of confidential market-sensitive information such review and evaluate their compliance as restrictions on staff trading, information barriers and measures and report to ASIC. managing conflicts of interest in relation to corporate transactions. Surveillance 17/12/2015 Market participant & OTC issuers - All Iron FX Global Australia Pty Ltd (Iron FX Statements published on the website of IronFX Australia's IronFX Australia has taken steps to remove 15-395MR IronFX corrects disclosure about 15-395MR Australia) parent company, Cyprus-based IronFX Global Ltd (IronFX the relevant references from the website and Australian regulation and counterparty Cyprus), and the IronFX Cyprus disclosure document, gave the disclosure document. arrangements impression that the financial services provided by IronFX Cyprus were regulated by ASIC. IronFX Australia has also updated its Product Disclosure statement (PDS) to include material information about its hedging arrangements and has updated its PDS to clearly disclose that its sole hedging counterparty is its parent company, IronFX Cyprus.

Review 22/12/2015 Market participant & OTC issuers - UBS Securities Australia Ltd ASIC was concerned that UBS Securities’ control framework In response to ASIC's enquiries UBS Securities 15-405MR ASIC finalises its enquiries into UBS 15-405MR Major Aus and foreign banks relating to its research function, and its compliance with that is undertaking remedial steps to improve its Securities research function framework, at the relevant times was not adequate for an control framework relating to its research investment bank of UBS’s size and complexity. function, including changes in structure, policies, procedures and training.

UBS Securities has also appointed an independent expert to review the implementation of these remedial measures and to certify to ASIC that the measures have been implemented and maintained.

Surveillance 22/12/2015 Market participant & OTC issuers - All Unknown Entity operating the website www.usgforex.com claimed it ASIC infomed investors of the false 15-408MR ASIC warns about false claims on 15-408MR was associated with an Australian licensee Union Standard statements www.usgforex.com International Group Pty Ltd but that entity claimed it had no relationship with the website. Surveillance 8/03/2016 Market participant & OTC issuers - All Market City International SRL, Brokers500 The website www.brokers500.com contains statements to the Formal public warning under 12GLC(1) of the 16-066MR ASIC warns investors about dealing 16-066MR effect that Market City International holds an Australian Australian Securities and Investments with Market City International and financial services licence (License No. V0046651). These Commission Act 2001. Brokers500 statements are false and are likely to mislead the public.

Surveillance 10/03/2016 Market participant & OTC issuers - All FXAsia Pty Ltd While FXAsia was licensed to provide financial services to OTC derivative issuer FXAsia Pty Ltd took 16-067MR FXAsia updates website disclosure 16-067MR retail investors, it was not in a position to comply with the steps to update disclosure on its website to to clarify the services it may offer relevant financial resource requirements and therefore was make it clear it was not in a position to not able to issue products to retail investors. Its website did provide financial services to retail investors not make this clear. RCD.0015.0003.0347

Public Results & Reports

Surveillance 11/05/2016 Market participant & OTC issuers - All Ikon (Australia) Pty Ltd ASIC had concerns over retail OTC derivative issuer Ikon's Ikon agreed to separate client money held in 16-134MR Ikon rectifies client trust accounts 16-134MR current business arrangements, in which any financial service compliance with its obligations under the and improves disclosure provided by Ikon to overseas clients is provided from offshore. Corporations Act from money held for Consequently these services would not be considered to be overseas investors, which is not associated provided within Australia, and are therefore not financial with financial services provided under its AFS services provided under its AFS licence. licence.

Ikon had also failed to keep Australian client money Ikon has also made changes to its website. seggregated from oversea's clients money.

Surveillance 16/05/2016 Market participant & OTC issuers - All Top Ten Binary Brokers ASIC warned the public not to use the Top Ten Binary Brokers Formal public warning under 12GLC(1) of the 16-142MR ASIC warns investors about 16-142MR website to sign up for any of the binary option services Australian Securities and Investments services advertised by Top Ten Binary Brokers advertised. ASIC was concerned that Top Ten Binary Brokers Commission Act 2001. also known as Top 10 Binary brokers.com was offering unlicensed financial services in Australia through (Top Ten Binary Brokers) various web advertising. Surveillance 9/06/2016 Market participant & OTC issuers - All Various entities ASIC warned the public about the conduct of the following Formal public warning under 12GLC(1) of the 16-189MR ASIC warns investors about dealing 16-189MR entities Go Trading Technologies Ltd, Oracle Stone Limited, Australian Securities and Investments with GOptions, Porterfinance, Boss Capital, Cheshire Capital Ltd , Changecapital SM Ltd, Bloombex Ltd, CIT Commission Act 2001. MaxOptions, Bloombex Options, Citrades, investments Ltd, Zulutoys Limited and Omni Capital Ltd/Omni RBoptions and OptionsXO Global Solutions SRL - all of these entities operated websites that offer binary option trading services but none of them were appropriately licensed or authorised to provide these types of services in Australia.

Surveillance 20/06/2016 Market participant & OTC issuers - All Various Assessed a large proportion of AFS-licensed retail OTC Obtained more than 150 regulatory 16-197MR ASIC releases report highlighting 16-197MR derivatives industry against the following compliance risks outcomes as a result of our review, including significant failures in the retail OTC •recapitalisation to comply with financial derivatives industry •failure to comply with the net tangible assets requirement requirements •failure to comply with notification requirements •improvements to defective disclosure •failure to comply with client money provisions •submission of overdue financial reports •poor, misleading or deceptive Product Disclosure Statements •corrections to registry and AFS licence and website disclosure information •failure to comply with financial reporting obligations •improved supervision of authorised •failure to supervise authorised representatives and non- representatives compliance by authorised representatives, and •rectification of compliance failings •claims that no financial services are being provided under the •cessation of unlicensed conduct, and AFS licence. •AFS licence suspensions and cancellations.

*note some are covered in the above media releases, many are not.

Surveillance 1/07/2016 Market participant & OTC issuers - All XTrade.au Pty Ltd XTrade.au Pty Ltd did not appear to be paying client money Xtrade implemented changes to the way it 16-213MR XTrade to change client money 16-213MR into client trust accounts on the day it is received or on the handles client money. practices following ASIC surveillance next business day. XTrade's parent company was depositing a 'buffer' into the client trust account to cover any potential shortfall which is not allowed. Client money accounts were only reconciled on a periodic basis. RCD.0015.0003.0348

Public Results & Reports

Surveillance 6/07/2016 Market participant & OTC issuers - All Various entities A review of the internet highlighted over 40 entities which Of those entities contacted, 21 have agreed 16-218MR ASIC crackdown on unlicensed 16-218MR were targeting Australians with their financial services but to co-operate with ASIC and take remedial retail OTC derivative providers which were not adequately licensed or authorised in Australia. steps to ensure they are no longer providing financial services in Australia until appropriately licensed or authorised.

Some have indicated an interest in obtaining the appropriate licence to operate in Australia and have been provided with information to assist in that process.

A further nine have not directly responded to ASIC but appear to have made some changes to their websites.

Surveillance 13/12/2016 Market participant & OTC issuers - All OpenMarkets Australia Limited ASIC surveillance activities identified concerns in ASIC imposed additional licence conditions 16-435MR ASIC imposes licence condition on 16-435MR (OpenMarkets) OpenMarkets' requiring OpenMarkets to appoint an OpenMarkets Australia Limited 1. Arrangements for identifying and preventing potential independent expert to review the market misconduct; organisation's arrangements, identify any 2. Reconciliation of its client trust accounts; and deficiencies, and recommend enhancements 3. Supervisory arrangements and organisational and appropriate to the business. technological resourcing. Surveillance (although it was referred to FSE 20/02/2017 Market participant & OTC issuers - All Yingjie Wang Mr Wang was dishonest in that he knowingly caused Easy Permanent banning 17-036MR ASIC permanently bans former 17-036MR and the banning was done by FSE so will be Capital Global Pty Ltd to use $100,000 of an investor's money Easy Capital director formal investigation) for unauthorised purposes. Mr Wang also remained silent about a representation made to this same investor concerning the money which he knew to be false.

Formal investigation (an investigation 23/03/2017 Market participant & OTC issuers - Barclays Capital Inc. (BCI) domiciled in the Significant breaches of the conditions of the ASIC class order Enforceable undertaking requriing the 17-077MR ASIC accepts enforceable 17-077MR commenced pursuant to s13 ASIC Act or s247 Major Aus and foreign banks United States of America. licensing exemptions relied on by the Barclays entities, Barclays entities to engage an independent undertaking from Barclays entities NCCP Act) including the failure to notify ASIC of breaches within the expert to, among other things Barclays Capital Asia Limited (BCAL) domiciled required time. in Hong Kong •review and test the compliance framework implemented; and Barclays Capital Securities Limited (BCSL) domiciled in the United Kingdom. •report any deficiencies and make recommendations on how to rectify those to ensure compliance with the relevant conditions of the ASIC licensing exemption.

The Barclays entities will also contribute $500,000 to The Ethics Centre for research and development into the provision of financial services to Australian clients.

Surveillance 27/06/2017 Market participant & OTC issuers - Westpac During the relevant period, Westpac failed to report Westpac Banking Corporation (Westpac) has 17-208MR Westpac pays $127,250 to comply 17-208MR Major Aus and foreign banks information about 112,556 Reportable Transactions as paid a penalty of $127,250 to comply with an with infringement notice penalty required by the ASIC Rules. The Infringement Notice identifies infringement notice (Infringement Notice) 398 alleged contraventions of subrule 2.1.1(1), being one given to it by ASIC. alleged contravention for each Business Day during the relevant period. Formal investigation (an investigation 7/07/2017 Financial Advisers - Other National Australia Bank Group (NAB Group) Failure of financial advice licensees within NAB to disclose Corrective disclosure made to customers and 17-229MR NAB makes corrective disclosure 17-229MR commenced pursuant to s13 ASIC Act or s247 relationships between advisers, licensees, and other members a dedicated hotline hotline established for to customers about relationships within its NCCP Act) of the NAB Group that issue investment products. customer concerns. wealth management business

Surveillance 1/08/2017 Market participant & OTC issuers - All Over 330 mobile apps impacted - various A review of the iTunes and Google Play store indicated over All of the apps that were the subject of the 17-257MR ASIC targets unlicensed binary 17-257MR entities and individuals 330 mobile Apps offering binary options related financial surveillance were removed by Apple and option mobile apps services to Australians, which were operated by entities or Google from their respective stores. individuals which were not adequately licensed or authorised to provide those services. RCD.0015.0003.0349

Public Results & Reports

Surveillance 27/10/2017 Market participant & OTC issuers - All MJ Wren & Co ty Ltd Failed to comply with the risk-based capital requirements set Suspended Australian financial services (AFS) 17-363MR ASIC suspends AFS licence of M.J. 17-363MR out in the market integrity rules. licence until 16 October 2018. Wren & Co

Review 21/12/2017 Market participant & OTC issuers - All Various Issues regarding the management of conflicts of interest and ASIC published Regulatory Guide 264 Sell- 17-456MR ASIC releases guidance on sell side 17-456MR handling inside information in sell side research. side research (RG 264), which looks at the key research stages of a capital raising transaction and provides specific guidelines on how an AFS licensee should appropriately manage conflicts of interest during each of these stages.

RG 264 also provides general guidance for AFS licensees on the identification and handling of inside information by research analysts, and about the structure and funding of sell-side research teams.

Review 10/10/2017 Market participant & OTC issuers - All Implementing the financial benchmark The bank bill swap rate (BBSW) is the major interest rate In response, the BBSW methodology is being ASIC and RBA welcome the publication of ASX ASIC and RBA regulatory regime benchmark for the Australian dollar and is widely referenced strengthened to enable the benchmark to be BBSW Trade and Trade Reporting guidelines welcome the in financial contracts. A major concern over recent years has calculated directly from a wider set of market publication of been the low trading volumes during the rate set window, the transactions. ASX, the Administrator of ASX BBSW Trade time of day that BBSW is measured. BBSW, has been consulting market and Trade participants on this new methodology with Reporting the strong support of ASIC and the RBA. guidelines

Review 10/10/2017 Market participant & OTC issuers - All ASIC consults on new client money reporting While wholesale clients typically have considerable experience The reforms also give ASIC the power to ASIC Client Money Reporting Rules 2017 ASIC Client rules dealing in derivatives and the capacity to assess the risks make new client money reporting rules to Money associated with the use of their money, a thorough ensure greater transparency in relation to an Reporting Rules assessment and evaluation of the counterparty risk in AFS licensee's receipt and use of derivative 2017 derivatives markets is a complex exercise and cannot be retail client money. reasonably expected of retail clients.

Review 17/07/2017 Market participant & OTC issuers - All Implementing the financial benchmark Concerns about the manipulation of benchmarks were ASIC is consultating on proposed ASIC consults on proposed financial CP 292 regulatory regime highlighted in a number of concluded and current administration rules, proposed regulatory benchmark regulatory regime Implementing enforcement cases relating to poor or manipulative conduct. guidance on how we would administer the the financial Many of these cases reflected a failure by the benchmark licensing regime and our expectations about benchmark administrator and contributors to financial benchmarks to compliance with the administration rules, regulatory manage conflicts of interest. and proposed compelled rules, including regime examples of notices we may issue under the rules. Review 28/03/2017 Market participant & OTC issuers - All Client money ASIC has welcomed the passage of client money reforms The amendments to the client money regime ASIC welcomes passage of client money ASIC welcomes contained in the Treasury Laws Amendment (Measures No. 1) made in the Bill have strengthened the reforms by Parliament passage of client Bill 2016 (the Bill). protection of client money that is provided to money reforms retail derivative clients. Doing so will help to by Parliament increase investor confidence in the Australian financial system

Review 1/03/2016 Market participant & OTC issuers - All Implementing the financial benchmark The Turnbull Government is strengthening financial regulation The CFR’s advice, which the Government has Clamping down on market manipulation of Clamping down regulatory regime to better protect Australians from the possible abuse and released today, broadly recommended that financial benchmarks on market manipulation of financial benchmarks by banks. •Administrators of significant benchmarks be manipulation of required to hold a new ‘benchmark financial administration’ licence benchmarks •ASIC be empowered to develop enforceable rules for the administrators of significant benchmarks and for entities that make submissions to such benchmarks; and •The manipulation of any financial benchmark or financial product used to determine a financial benchmark used in Australia, be made a specific criminal and civil offence. The Government has accepted the CFR’s recommendations. RCD.0015.0003.0350

Public Results & Reports

Review 7/03/2016 Market participant & OTC issuers - All ASX Group and Chi-X Australia Pty Ltd This report presents the findings of our cyber resilience ASX and Chi-X have, up to this point in time, Cyber resilience assessment report ASX http //asic.gov.a assessments of ASX Group and Chi-X Australia Pty Ltd. It also met their statutory obligations to have Group and Chi-X Australia Pty Ltd u/regulatory- provides some examples of emerging good practices sufficient resources for the management of resources/find-a- implemented by a wider sample of organisations operating in cyber resilience. document/repor the Australian financial sector ts/rep-468-cyber The report calls for senior management of resilience- organisations to closely manage cyber risk assessment- from both internal and third-party sources, report-asx- establish robust collaboration and group-and-chi-x- information-sharing networks to access the australia-pty- best defensive intelligence and technology, ltd/ and implement thorough cyber awareness training programs.

Review 30/11/2017 Market participant & OTC issuers - All ASIC reports on cyber resilience assessments Key insights from the assessments include that there is a ASIC will continue to monitor, assess and Cyber resilience of firms in Australia’s http //asic.gov.a of financial markets firms growing understanding that cyber risk is a strategic, enterprise measure improvements over time by financial markets u/regulatory- wide issue that is on all organisations’ radars and is attracting •engaging and collaborating with regulated resources/find-a- increasing investment. The disparity between large firms and firms, other regulators and Government document/repor small-and-medium firms is reflective of their investment in •raising awareness of cyber risks in the ts/rep-555-cyber cyber security, the period of time cyber security has been an financial markets sector and highlighting resilience-of- investment priority, and the ability to acquire highly good practices and areas for improvement firms-in- specialised skills. •assessing the cyber resilience of regulated australia-s- firms and measuring their progress against financial- their targets. markets/

Review 18/03/2013 Market participant & OTC issuers - All Review of high-frequency trading and dark- Both taskforces found potential breaches of Market Integrity Following the review, ASIC Dark liquidity and high-frequency trading REP 331 Dark liquidity Rules and the Corporations Act, and some matters are being • has worked with industry to remedy the liquidity and investigated. issues where possible high-frequency • Enforcement teams are investigating a trading number of possible breaches of rules •has proposed a number of new rules and guidance in CP 202, which we are consulting on until 10 May 2013.

Review 10/10/2017 Market participant & OTC issuers - All Client money While wholesale clients typically have considerable experience Under the ASIC Client Money Reporting Rules INFO 226 Complying with the ASIC Client INFO 226 dealing in derivatives and the capacity to assess the risks 2017 (client money reporting rules), licensees Money Reporting Rules 2017 Complying with associated with the use of their money, a thorough that hold 'reportable client money' are the ASIC Client assessment and evaluation of the counterparty risk in required to comply with a number of record- Money derivatives markets is a complex exercise and cannot be keeping, reconciliation and reporting Reporting Rules reasonably expected of retail clients. requirements. 'Reportable client money' is 2017 derivative retail client money other than client money held in relation to derivatives traded on domestic exchanges.

Review 19/09/2008 Market participant & OTC issuers - All Naked short selling not permitted and Unprecedented turmoil in the financial markets. The US and From the opening of the market on Monday Naked short selling not permitted and 08-204MR covered short selling to be disclosed UK responded by announcing new rules to regulate short 22 September 2008, naked short sales on covered short selling to be disclosed selling. ASX’s approved list in the cash equity market will not be permitted. ASIC has issued clarification of what are the covered short sales which will continue to be permitted, and for covered short sales which continue to be permitted, ASIC has introduced reporting requirements through the ASX.

Review 20/11/2012 Market participant & OTC issuers - All Market integrity rules On 20 November 2012 we made new market integrity rules to ASIC published new market integrity rules New Market Integrity Rules http //asic.gov.a address risks emerging from developments in market along with updated regulatory guidance. u/regulatory- structure, including growth in automated trading and the resources/mark changing nature of dark liquidity. ets/market- integrity-rules/ RCD.0015.0003.0351

Public Results & Reports

Review 16/07/2012 Market participant & OTC issuers - All Regulatory Guide 238 Suspicious activity The new requirements regarding short sale tagging were ASIC made new market integrity rules for Regulatory Guide 238 Suspicious activity RG 238 reporting prompted by experience during the GFC, and consistent with suspicious activity reporting and short sale reporting Suspicious industry feedback, we have ensured that industry has tagging requirements which apply to the activity sufficient time to implement the required system changes. Australian Securities Exchange (ASX) and Chi- reporting X markets.

Review 29/03/2012 Market participant & OTC issuers - All Regulation of exchange traded funds ETFs can provide a convenient and low-cost way for investors ASIC has been monitoring the ETF industry REP 282 Regulation of exchange traded funds REP 282 to diversify and receive returns close to the performance of closely, which is consistent with the approach Regulation of market indexes or other assets, often with lower fees than taken by regulators in other key jurisdictions. exchange traded traditional managed funds. But while standard, ‘physical’ ETFs The report explains how the domestic funds generally invest in the underlying investments they are regulatory framework covers proposed designed to track, ‘synthetic’ ETFs also use derivatives, such as principles that the International Organisation swap agreements, to achieve similar outcomes. Risks include of Securities Commissions (IOSCO) has issued increased complexity and counterparty risk. for consultation.

Review 3/12/2012 Market participant & OTC issuers - All Client Money Our analysis of risks in this sector highlighted the mishandling We will continue to monitor compliance REP 316 Review of client money handling REP 316 Review of client money as a priority risk for our risk-based within the CFD sector, with client money practices in the retail OTC derivatives sector of client money surveillance. In the worst case, mishandling of client money handling practices remaining a focus of our handling may result in significant losses to clients and may have a regulatory activities. We anticipate taking practices in the severe impact on investor confidence. In the worst case, strong action in response to any future retail OTC mishandling of client money may result in significant losses to breaches of client money rules, especially derivatives clients and may have a severe impact on investor confidence. where any breaches are not self-reported to sector ASIC. Review 19/03/2015 Market participant & OTC issuers - All ASIC reports on cyber resilience to help Report outlines some ‘health check prompts’ to help regulated REP 429 Cyber resilience Health check http //asic.gov.a regulated entities. entities consider their cyber resilience. u/regulatory- resources/find-a- document/repor ts/rep-429-cyber resilience-health check/

Review 8/07/2015 Market participant & OTC issuers - All Financial benchmarks This report addresses the potential manipulation of financial It also addresses the international and REP 440 Financial benchmarks REP 440 benchmarks and related conduct issues. Australian regulatory reforms and other Financial responses to concerns about financial benchmarks It provides an overview of the importance of financial benchmarks, and sets out the measures we benchmarks and the need for financial benchmarks to be encourage financial institutions and robust and reliable, and touches on investigations ASIC is benchmark administrators to adopt to avoid undertaking into the occurrence of financial benchmark- conduct issues in the future. related conduct issues.

Review 20/06/2016 Market participant & OTC issuers - All Retail OTC Derivatives In recent years, ASIC has made a number of public statements In total, we obtained more than 150 REP 482 Compliance review of the retail OTC REP 482 about the concerning degree of non-compliance in the retail regulatory outcomes as a result of our derivatives sector Compliance OTC derivatives sector. ASIC considers retail OTC derivatives to review, including review of the be complex, high-risk products which are often difficult to •recapitalisation to comply with financial retail OTC understand, even for experienced investors. We identified requirements derivatives increasing non-compliance by existing AFS licensees with a •improvements to defective disclosure sector number of their Australian regulatory requirements. •submission of overdue financial reports •corrections to registry and AFS licence information •improved supervision of authorised representatives •rectification of compliance failings •cessation of unlicensed conduct, and •AFS licence suspensions and cancellations.

Review 9/08/2016 Market participant & OTC issuers - All Sell-side Research This report sets out key observations from our review of the The purpose of the review was to understand REP 486 Sell-side research and corporate REP 486 Sell- way financial intermediaries handle material, non-public current market practices and identify areas of advisory Confidential information and side research information and manage conflicts of interest. It considers the particular concern. conflicts and corporate interaction between financial intermediaries’ research and advisory corporate advisory activities. Confidential information and conflicts RCD.0015.0003.0352

Public Results & Reports

Review 9/08/2016 Market participant & OTC issuers - All Equity Market Cleanliness In a clean market, security prices should instantaneously react In this report we seek to measure Australian REP 487 Review of Australian equity market REP 487 Review to new information released through the proper channels. equity market cleanliness with a focus on cleanliness of Australian Abnormal price movements and anomalous trading patterns possible insider trading and information equity market ahead of announcements may indicate an ‘unclean market’. leakage ahead of material, price-sensitive cleanliness Measuring abnormal price movements forms the basis of the announcements. established market cleanliness measure.

Review 9/08/2017 Market participant & OTC issuers - All Equity Market Cleanliness In a clean market, security prices should instantaneously react The review found REP 487 Review of Australian equity market REP 487 Review to new information released through the proper channels. •a general improvement in market cleanliness of Australian Abnormal price movements and anomalous trading patterns cleanliness for the 10-year period from 1 equity market ahead of announcements may indicate an ‘unclean market’. November 2005 to 31 October 2015, and cleanliness Measuring abnormal price movements forms the basis of the •the established and new market cleanliness established market cleanliness measure. measures are positively correlated with each other, suggesting that the established method is useful for trend analysis.

Review 26/05/2017 Market participant & OTC issuers - All Spot FX The report highlights a number of behavioural drivers of This report draws on those observations to REP 525 Promoting better behaviour Spot FX REP 525 conduct that we observed during our investigation into the set out some good practice principles for Promoting wholesale spot foreign exchange market. managing these drivers to more effectively better prevent, detect and respond to inappropriate behaviour Spot conduct. FX Review 4/11/2015 Market participant & OTC issuers - All Report on the Australian OTC Derivatives This report constitutes the latest advice from the Regulators to Based on an assessment of current activity Report on the Austral an OTC Derivative https //www.cfr Market the Minister on over-the-counter (OTC) derivatives reforms, and practices in the Australian OTC Market - November 2015 .gov.au/media- and in particular mandatory requirements for central clearing, derivatives market and overseas releases/2015/ platform trading and trade reporting of OTC derivatives developments, the Regulators do not see a mr-15-03.html case for extending the product scope of the Australian central clearing mandate at this time.

The Regulators see in-principle benefits from increased use of trading platforms and will continue to consider the case for promoting the use of trading platforms, including by introducing a trading mandate. While the Regulators are not making specific recommendations on a mandatory trading obligation, the Report sets out the details of how the Regulators will assess the case for introducing trading mandates in the future.

Review 3/04/2017 Market participant & OTC issuers - All Report on the Australian OTC Derivatives This report constitutes the latest advice from the Regulators to Having monitored Australian-headquartered Report on the Austral an OTC Derivatives Report on the Market July 2014 the Minister on mandatory requirements for central clearing, dealers' progress in implementing Market – April 2014 Australian OTC platform trading and trade reporting of over-the-counter appropriate clearing arrangements, the Derivatives (OTC) derivatives. Regulators are satisfied that the incremental Market – April cost of mandatory central clearing of 2014 Australian dollar-denominated interest rate derivatives would be very low for trades between internationally active dealers in the Australian market. Consequently, they are recommending that the government consider a central clearing mandate for trades between internationally active dealers in Australian dollar-denominated interest rate derivatives. RCD.0015.0003.0353

Public Results & Reports

Review 17/07/2013 Market participant & OTC issuers - All Report on the Australian OTC Derivatives In recent years, the Australian regulators have undertaken The regulators therefore recommend that the Report on the Australian OTC Derivatives http //asic.gov.a Market July 2013 substantial work to understand the risks in the Australian over- Government consider a central clearing Market July 2013 u/regulatory- the-counter (OTC) derivatives markets and explore how these mandate for these products, primarily on resources/find-a- risks may best be addressed. There is an international policy international consistency grounds. The initial document/repor consensus that encouraging greater use of centralised focus of such a mandate should be dealers ts/rep-359- infrastructure – trade repositories (TRs), central counterparties with significant cross-border activity in these report-on-the- (CCPs) and trading platforms – in OTC derivatives markets products. The timing and other aspects of the australian-otc- should help to address many of the concerns of regulators and implementation of any such mandate would derivatives- market participants. be determined in consultation with the market-july- relevant authorities in the ‘home currency’ 2013/ jurisdiction.

Review 30/12/2012 Market participant & OTC issuers - All Report on the Australian OTC Derivatives APRA, ASIC and the RBA have been considering for some time The Report included a number of Report on the Austral an OTC Derivatives REP 309 Report Market October 2012 the desirability of reforms to the functioning of domestic over- recommendations, including Market October 2012 on the the-counter (OTC) derivatives markets. The regulators’ - that the government consider a broad- Australian OTC ongoing interest in these markets reflects their various based mandatory trade reporting obligation Derivatives mandates regarding market and participant supervision, as for OTC derivatives; and Market October well as broader financial stability and prudential - that a mandatory clearing obligation for 2012 considerations. Australian dollar-denominated interest rate derivatives is not necessary at this time. However, should substantial industry progress towards central clearing in this class of derivatives not be evident in the near future, the regulators would revisit this recommendation.

Review 26/10/2015 Market participant & OTC issuers - All Review of high-frequency trading and dark- ASIC remains concerned about exchange market and crossing ASIC has concluded that current levels of high Review of high-frequency trading and dark- REP 452 Review liquidity system operators seeking to preference some users over frequency trading and dark liquidity are not liquidity of high- others. It is concerned about the methods used by some adversely affecting the function of Australian frequency market participants to manage their conflicts of interest for markets for businesses and investors. trading and dark principal trading and client facilitation. liquidity

Review 9/07/2010 Market participant & OTC issuers - All Client Money Licensees have used client money for inappropriate purposes, This is a guide for Australian financial services RG 212 Client money relating to dealing in RG 212 Client resulting in a risk of loss to the clients. (AFS) licensees who are required to hold OTC derivatives money relating client money and for investors who pay to dealing in money to an AFS licensee for the purpose of OTC derivatives trading in derivatives in the over-the-counter (OTC) market.

Review 12/08/2011 Market participant & OTC issuers - All Retail OTC Derivatives In Australia, most CFDs are issued as over-the-counter (OTC) RG 227 outlines seven benchmarks which aim RG 227 Over-the-counter contracts for RG 227 Over-the products, making them increasingly accessible and popular to help investors understand the risks and difference Improving disclosure for retail counter with retail investors. But CFDs are a high-risk financial product benefits of OTC CFDs. Issuers must address investors contracts for and their complexity means they are unlikely to meet the these benchmarks in product disclosure difference investment needs of many retail investors. statements (PDSs) from 31 March 2012. Improving disclosure for retail investors

Review 24/01/2012 Market participant & OTC issuers - All Disclosure by infrastructure entities The risks of investing in infrastructure entities were RG 231 is the next in a series of ‘if not, why RG 231 Infrastructure entities Improving RG 231 highlighted during the global financial crisis. The response of not’ disclosure benchmarks for sectors that disclosure for retail investors Infrastructure retail investors to loss of capital experienced during the crisis pose particular risks to consumers to ensure entities indicated that existing disclosure did not effectively they are informed and can be confident when Improving communicate an understanding of the characteristics and risks making investment decisions. disclosure for of infrastructure entities to investors. retail investors

Review 20/11/2015 Market participant & OTC issuers - All Suspicious activity reporting This guide gives guidance on how market RG 238 Suspicious activity reporting RG 238 participants can comply with the ASIC market Suspicious integrity rules relating to suspicious activity activity reporting. reporting Review 3/10/2013 Market participant & OTC issuers - All Hedge Funds Hedge funds, because of their diverse investment strategies Given the risks for retail investors associated RG 240 Hedge funds Improving disclosure RG 240 Hedge and use of leverage and offshore investments, can pose more with investing in hedge funds, disclosure funds diverse and complex risks for investors than traditional needs to provide retail investors with all the Improving managed investment schemes. information they require to make an disclosure informed investment decision. In some cases, this may include a decision not to invest in these products. RCD.0015.0003.0354

Public Results & Reports

Formal investigation (an investigation 19/02/2014 Credit - Credit intermediaries Noted in bannings and disqualified register False statements and false documents provided to banks to Permanently banned from engaging in credit Noted in bannings and disqualified register Noted in commenced pursuant to s13 ASIC Act or s247 secure home loan approvals. activities bannings and NCCP Act) disqualified register Formal investigation (an investigation 29/06/2011 Credit - Credit intermediaries Noted in bannings and disqualified register Engaged in 'bait' advertising, targetting consumers with poor Conditions imposed on credit licence Noted in bannings and disqualified register Noted in commenced pursuant to s13 ASIC Act or s247 credit histories bannings and NCCP Act) disqualified register Formal investigation (an investigation 15/02/2013 Financial Advisers - Other Noted in bannings and disqualified register Processed a series of unauthorised transactions on deposit Permanently banned from financial services Noted in bannings and disqualified register Noted in commenced pursuant to s13 ASIC Act or s247 accounts and remitted the proceeds overseas via eight bannings and NCCP Act) telegraphic transfers disqualified register Review 19/04/2016 Funds management - Superannuation Superannuation Trustees/ RSEs No miscounduct identified. ASIC provides guidance to the RG helps trustees of superannuation entities RG 184 Superannuation Delivery of product RG 184 industry on how it administers the law by way of a Regulatory (trustees) to comply with the product disclosure for investment strategies Guide (RG). RG 184 explains the requirements that apply to disclosure requirements in s1012IA of the trustees who offer a choice of investment strategies to Corporations Act 2001 . members, where any of those strategies includes specific financial products (accessible financial products) that will be acquired under the member’s choice of strategy. The RG also explains the relief we provide from the disclosure requirements.

1/08/2013 Funds management - Superannuation Superannuation Trustees/ RSEs No misconduct identified. Information sheets provide concise Improved guidance to the industry INFO-182 Super switching advice - complying INFO 182 guidance on a specific process or compliance issue or an with your obligations overview of detailed guidance. This Information Sheet is aimed towards financial advisers who provide super switching advice. It provides specific examples of inadequate conduct in some of those areas where we frequently encounter compliance issues. Review 1/06/2015 Funds management - Responsible Registered Managed Investment Schemes No misconduct identified. Information sheets provide concise Improved guidance to the industry INFO-064 Resignation and removal of INFO 064 Entities & schemes guidance on a specific process or compliance issue or an auditors of registered scheme financial report overview of detailed guidance. This Information Sheet is or a compliance plan aimed towards auditors of registered scheme financial reports or compliance plans who wish to resign, or responsible entities that wish to remove an auditor from office. Explains •when we will consent to an auditor’s resignation or removal •when our consent is not required •how and when to lodge an application •the procedure for both a resignation and removal, and the requirement to notify ASIC of the change in auditor •why applications are returned.

Surveillance 28/11/2013 Funds management - Superannuation RSEs No misconduct identified. Consultation Papers seeks feedback Submissions received provides the view point CP 219 Keeping superannuation websites up CP 219 from the industry on proposed changes to legislation. This from the public and is taken into to date Consultation Paper outlines ASIC’s proposals for how consideration prior to introducing the remuneration and other information on superannuation proposed legislation websites may be kept up to date under s29QB of the Supervision Industry (Supervision) Act 1993 (SIS Act).

Surveillance 8/04/2010 Funds management - Responsible Managed Investment Schemes ( Agribusiness) No misconduct identified. Consultation Papers seeks feedback Submissions received provides the view point CP 133 Agribusiness managed investment CP 133 Entities & schemes from the industry on proposed changes to legislation. This from the public and is taken into schemes Improving disclosure for retail Consultation Paper seeks feedback on proposals to improve consideration prior to introducing the investors disclosure for retail investors in the agribusiness managed proposed legislation investment scheme sector. Feedback is also sought on disclosure benchmarks designed to improve disclosure for retail investors to enable more informed decisions about investments into the sector and to make comparisons between schemes more straightforward.

Review 1/06/2009 Market participant & OTC issuers - All Foreign nominees [population] Foreign nominees may be seeking to rely on foreign laws to Stop orders issued; amended disclosure; Corporate Finance Liaison Committee http //download resist providing beneficial holding information altered transactions Meeting .asic.gov.au/me SUMMARY OF ISSUES dia/1322857/CF MAY 2009 L-May-2009- meeting- minutes.pdf RCD.0015.0003.0355

Public Results & Reports

Review 1/06/2009 Financial Advisers - Other Independent experts [population] Lack of disclosure on material assumptions Stop orders issued; amended disclosure; Corporate Finance Liaison Committee http //download altered transactions Meeting .asic.gov.au/me SUMMARY OF ISSUES dia/1322857/CF MAY 2009 L-May-2009- meeting- minutes.pdf Review 1/06/2009 Deposit takers - Other Debenture issuers [population] Structural defects issuing a debenture without a trustee Stop orders issued; amended disclosure; Corporate Finance Liaison Committee http //download altered transactions Meeting .asic.gov.au/me SUMMARY OF ISSUES dia/1322857/CF MAY 2009 L-May-2009- meeting- minutes.pdf Review 1/12/2009 Financial Advisers - Other Independent experts [population] non-compliance with RG 112 Independence of experts, failure Stop orders issued; amended disclosure; Corporate Finance Liaison Meetings http //download of experts to conduct critical analysis, no reasonable basis for altered transactions Summary of issues, November 2009 .asic.gov.au/me forecast information, and inadequate working papers and/or dia/1322893/CF quality assurance. L-November- 2009-meeting- minutes.pdf

Review 25/06/2010 Deposit takers - Other Unlisted debenture issuers [population] Describing products as 'debentures' rather than 'unsecured Removed no-action position and provided ASIC strengthens disclosure requirements for http //asic.gov.a Elderslie notes' guidance on naming restrictions in debentures and unsecured notes u/about- South Eastern Secured Investments Corporations Act asic/media- centre/find-a- media- release/2010- releases/10- 132ad-asic- strengthens- disclosure- requirements- for-debentures- and-unsecured- notes/

Review 5/07/2010 Financial Advisers - Other Independent experts [population] Reports are not complying with RG 112 Independence of Amended disclosure Corporate Finance Liaison Meetings, June http //download experts and the Financial Services Guide (FSG) provisions of 2010 .asic.gov.au/me Part 7.7 of the Corporations Act as the the actual fee was not Adelaide, Brisbane, Melbourne, Perth, Sydney dia/1322851/CF being disclosed in the FSG at the front of the expert report; Summary of issues L-June-2010- and commercial relationships with the commissioning party in meeting- last two years were not being disclosed. minutes.pdf

Review 30/03/2011 Financial Advisers - Other Independent experts [population] (a) accepted an engagement despite serious concerns about Amended disclosure; industry awareness New guidance aimed at enhancing the http //asic.gov.a their independence; reliability and quality of expert reports u/about- (b) adopted information provided by the commissioning asic/media- company without conducting additional critical analysis; centre/find-a- (c) did not have a reasonable basis for their forecast financial media- information; and release/2011- (d) did not maintain sufficient working papers to demonstrate releases/11- compliance with their obligations under RG 111 and RG 112. 66mr-new- guidance-aimed- at-enhancing- the-reliability- and-quality-of- expert-reports/ RCD.0015.0003.0356

Public Results & Reports

Review 31/10/2012 Deposit takers - Other Banksia Securities Limited Possible misleading disclosure and advertising Taskforce to make recommendations to ASIC taskforce to review Banksia and http //asic.gov.a Unlisted debenture issuers Treasury regulation of unlisted debentures u/about- asic/media- centre/find-a- media- release/2012- releases/12- 262mr-asic- taskforce-to- review-banksia- and-regulation- of-unlisted- debentures/

Review 3/12/2012 Deposit takers - Other Banksia Securities Limited Possible misleading disclosure and advertising A taskforce has been set up to consider, Corporate Finance Liaison Meetings, http //download Unlisted debenture issuers among other things, this issue with a view to November 2012 .asic.gov.au/me make recommendations to Treasury. The Adelaide, Brisbane, Melbourne, Perth, Sydney dia/1322881/CF taskforce will also work closely with the Summary of issues L-Meeting- receivers and managers of Banksia to achieve Minutes-- the best result for Banksia investors, and to November- continue to impress on gatekeepers such as 2012.pdf trustees and auditors their obligations to protect investors.

Review 1/06/2013 Financial Advisers - Other Independent experts [population] In item 7 s611 transactions, the experts have approached the Amended disclosure Corporate Finance Liaison Meetings, May http //download task in a manner that is inconsistent with our guidance in RG 2013 Adelaide, Brisbane, Melbourne, Perth, .asic.gov.au/me 111, particularly when assessing if the transaction is 'fair'. Sydney Summary of issues dia/1322863/CF L-Meeting-May- 2013- Minutes.pdf

Surveillance 29/08/2014 Market participant & OTC issuers - All Underwriters Concerns in relation to underwriting arrangements that Raised concerns with relevant issuers which Report 406 ASIC regulation of corporate http //download involved little assumption of risk by the underwriter or the in most instances resulted in changes to the finance January to June 2014 .asic.gov.au/me underwriter had control intentions offer structure, issued summary of concerns dia/1845592/re in REP 406 p406-published- 29-august- 2014.pdf

Surveillance 29/08/2014 Market participant & OTC issuers - All REDACTED - Proposed nominee for foreign holders in connection with an Raised concerns with issuer resulting in Report 406 ASIC regulation of corporate http //download entitlement offer attempted to waive their liability if they fail revised disclosure in the prospectus, issued finance January to June 2014 .asic.gov.au/me to sell rights or shares issued to them under the offer in summary of concerns in REP 406. dia/1845592/re contravention of the Corporations Act p406-published- 29-august- 2014.pdf

Review 29/08/2014 Financial Advisers - Other Independent expert firms Concerns about the historical approach taken when experts Communicated concerns resulting in experts Report 406 ASIC regulation of corporate http //download considered whether a transaction was 'fair' - experts should now applying the correct methodology, finance January to June 2014 .asic.gov.au/me consider the actual position of a non-associated shareholder issued summary of concerns in REP 406 dia/1845592/re before (on a control basis) and after a transaction (on a p406-published- minority basis) to reflect control is passing instead of merely 29-august- comparing the effective issue price of the capital raising with 2014.pdf the control value of the security

Review 29/08/2014 Financial Advisers - Other Independent expert firms Concerns experts are not routinely keeping adequate records Reviewed compliance with Regulatory Guide Report 406 ASIC regulation of corporate http //download of communications with commissioning parties and their 112 through random selection of finance January to June 2014 .asic.gov.au/me advisers, which can demonstrate how the expert has engagement files across independent expert dia/1845592/re maintained independence throughout the course of the firms, sent letters to all active independent p406-published- engagement expert firms making them aware of these 29-august- reviews, issued summary of matter in REP 2014.pdf 406 Review 27/05/2014 Market participant & OTC issuers - All Advisers of listed entities Concerns regarding leakage of market-sensitive information Reviewed a limited number of listed entities Report 393 Handling of confidential http //download about a listed company ahead of a market announcement and their advisers in order to consider information Briefings and unannounced .asic.gov.au/me practices employed in the Australian market corporate transactions dia/1344584/re to handle and protect confidential, market- p393-published- sensitive information. issued REP 393 27-May- 2014.pdf RCD.0015.0003.0357

Public Results & Reports

Surveillance 25/08/2015 Financfal Ad\lisers ·Other Independent expert firms Insufficient information about the valuation of business or Requesting amendments to expert reports, Report 44-6 ASIC resutation of comorat e intangibles in bad:door listing prospectuses and notices of issued summary of concerns in R£P 446 finance Januarx to June 2015 meeting

25/08/2015 Martet participant & OTC issuers· All Advisers of companies Concerns with quality of due diligence practices in the martet Conducted reviews of due diligence practices Report 44-6 ASIC regulation of corporate in connection with the information provided in a prospectus in a selection of offers, wamed issuers and finance Januarv to June 2015 t heir underwriters that t he due diligence liability defence in s731 of the Corporations Act 2001 may not be available where due d iligence is poor, issued summary of matter in REP 25/08/2015 Martet participant & OTC issuers· All Broters Review of marteting of offers to ensure compliance with the Conducted review of the mam er in which Rewt 14§ ASK ceg11latjgp pf rpmwtg prohibition on advertising and publicity of offers in s734 of the brokers and promoters sell securities to retail finance 'aD' WY tg lune 2015 Corporations Act investors. Ta rgeted certain offers and used compulsory information gathering powers to review selling methods e mployed by broters, issued summary of matter in REP 446

Surveil lance 25/08/2015 Financfal Al:Msers ·Other RE DACTED - New information arising after an independent expert's report We raised concems with the independent Report 446 ASIC resutation of comorate was issued in connection with a takeover bid meant that the expert which led to a supplementary report finance January to June 2015 report was not based on current information with a different opinion being issued, issued summary of matter in REP 446

25/08/2015 Financfal AcMsers • Other Independent expert firms Concerns regarding independence of experts Visited a number of firms to review work Report 446 ASIC resutation of corporate papers in relation to exerts' independence. finance January to June 2015 Overall files reviews were of acceptable standard. Issued summary of matter in REP 446

Surveil lance 25/08/2015 Financfal Al:Msers ·Other Independent expert firms Concerns in the way that the findings of independent experts Raised concems to relevant issuers, issued ReWf 11§ AS!C reg•1t;um rd cnmwtg are described by companies in their notices of meetings summary of matter in REP 446 fipanre 1arnwy tg h me 2015 recommending experts review meeting materials to ensure description of their opinion fairty represents their view

Surveillance 26/02/2016 Financfal AcMsers ·Other Independent expert firms Potential confli ct of interest arising from being appointed as Closely scrutinised the expert's report, issued Report 469 ASIC resutation of comorate an independent expert by both acquirer and target in a summary of concerns in REP 469 finance July to December 2015 friendty takeover bid RCD.0015.0003.0358

Public Results & Reports

Surveillance 26/02/2016 Fina ncfal Al:Msers - Other Independent expert firms Concerns inexperience of expert c.an lead to deficient expert's Issued reminder in REP 469 that Report 469 ASIC resutatkln of comorat e reports commissioning parties should consider the finance July to December 2015 expertise of an expert before they are selected

Surveillance 26/08/ 2016 Fina ncfal Ad\lisers - Other Independent expert firms Concerns about content of independent expert reports Raised concerns with relevant issuers as part Rf P 489 AS!C rtt"latioo of cgrggratg including concerns about inadequate disclosure of the expert's of our usual document review work and finance 'amwv rg 1une 1016 undertyhlg assumptk>ns and whether the expert had requested amended disclosure where reasonable grooods appropriate, noted concerns in REP 489

Surveil lance 24/02/2017 Martet participant & OTC issuers-All REDACTED. Concerns that certain termination rights in underwriting Raised concems with issue r, underwriting REP 512 ASIC resutation of comorate agreement in connection with an offer of securities by Sky and agreement was subsequently terminated and finance July to December 2016 Space Global ltd mean that the underwriter is not assuming withdrawal rights were offered to investors, shortfall risk issued summary of matter in REP 512

Surveillance 26/08/ 2016 Financfal AcMsers ·Other REDACTED. Concerns regarding quality of expert report after Kasbah Issued summary of matter in REP 512 REP 512 ASIC resutation of comorate Resources Limited announced that there was an erroJ in the finance July to December 2016 valuation methodology used by BOO. The issue was raised after Kasbah had been provided with an analysis of BOO's methodology by anothe r expert commissioned by a group of Kasbah shareholders opposed to the sche me

26/08/2016 Finaooial Al:Msers • Other Independent expert firms Concerns that undue reliance has been placed on information Summarised concerns in REP 512, ongoing REP 51z ASIC rnutatm m cnrmrate provided by the company and maintenance of independence review of e ngagement flies across finance "''Ytn Oesem ber ?016 independent expert firms

Surveillance 26/08/ 2016 Finaooial AcMsers ·Other REDACTED . Confidential Concerns regarding expert's report in relation to a scheme of Raised concerns with issue r and expert, and REP 512 ASIC resutation of comorate arrangement and the expert's approach in revising its report i Issued notices under the ASIC Act requiring finance July to December 2016 response to our comments the expert to produce information to ASIC,. report was revised to address our concerns, issued summary of concerns in R£P 512

Surveillance 26/08/2016 Finaooial Al:Msers ·Other Concerns regarding inadequate disdosure of undertying Raised concerns with the expert following REP 512 ASIC resutation of corporate assumptions and methodology relied on in expert's report which furthe r evidence was provided to finance July to December 2016 supporting a s444GA appli cation to the court address our concerns. Appeared as amicus curiae during the hearing to assist the Court,. issued summary of concerns in R£P 512

Surveillance 26/08/ 2016 Martet participant & OTC issuers· All REDACTED. Disclosure in substantial holding notices of equity swap UBS lodged substantial holding notices Rf P 51? ASfC regutatiqn of cgmwtg agreements for control transactions that permit a proposed containing disclosure of arrangement,, issued finance "''Ytn Prre m ber 2016 acquire r to direct a counterpartvfiWto vote securities summary of concerns in REP 512 acquired as a hedge to the swap RCD.0015.0003.0359

Public Results & Reports

19/09/2016 Financfal Al:Msers - Other Advisers of companies Concerns regarding how initial public offerings are marteted Issued REP 494 outlining rists and REP 494 Marketi ns eractkes in initial ooblic I="""==""! to retail investors recommendations that may be useful fot offerings of securities firms and issuers to consider when developing an IPO marteting st rategy

Surveillance 28/08/2017 Martet participant & OTC issuers- All REDACTED. REDACTED · Coofo d

Surveillance 28/08/2017 Financfal Al:Msers- Other REDACTED. an independent expert report in connection with a takeover Corrective disclosure made after we raised REP 539 ASK rer11tatm m cnmwtp bid did not contain adequate disclosure of the expert's concerns with the target company, issued fipanre 1arn wy tg hme 1017 underty;ng assum ptions or reasonable grounds for fotWard- summary of concerns in REP 53.9 looking statements

Surveillance 28/08/2017 Financfal Ad\lisers-Other REDACTE D . Following the reissuing of an expert's report in connectk>n We intervened in the takeover bid to ensure REP 539 A5tC resutation of comorate with a takeover bid, we were concerned that misstatements in withdtawal rights were offered to members, finance Januarx to June 2017 the original report may have mislead members regarding issued summary of concerns in R£P 539 acceptance and withdrawal rigtlts

Inquiry 28/08/2017 Fina ncfal Al:Msers • Other Proxy advisors Concerns raised by companies regarding the engagement We held a roundtable to facilitate discussion REP 539 ASIC rttutation of corporate practices of proxy advisors, mistakes in their reports and between various industry groups, proxy finance Januarv to June 2017 potential confl kt:s where proxy advisers also offer corporate advisors and investor representatives to seMces understand whether concerns raised by companies were warranted. We issued a summary of the concems raised and out of the roundtable in REP 539. We committed to monitor the issues raised at the roundtabl in relation to the engagement practices of proxy advisers during the next annual general meeting season.

Surveillance 21/01/2015 Financfal Al:Msers ·Other Pluton Resources limited {Receivers and Failed to lodge 2014 annual report of Pluton Resources Exercised power to prevent Pluton Resou rces 1,1"S-00=7.:M.::R.:;ASl=C .::acts======~====•I Managers appointed)· whilst company is not Limited by due date and failed to report to members by due limited from issuing a reduced content for tisdosure and reoortins failures a lkensee, its receivers and managers date prospectus under s713 of the Corporations KordaMentha and FTl Consulting {Australia) Act 2001 Pty Ud were licensee holders RCD.0015.0003.0360

Public Results & Reports

Review 12/04/2016 Financial Advisers - Other Independent experts, advisers of companies Concerns that forward looking statements made in mining and Issued Information Sheet 214 Mining and 16-111MR ASIC releases Information Sheet http //www.asic resources industry are not based on reasonable grounds resources: Forward looking statements with 214 Mining and resources Forward-looking .gov.au/about- relevant guidance statements asic/media- centre/find-a- media- release/2016- releases/16- 111mr-asic- releases- information- sheet-214- mining-and- resources- forward-looking- statements/

Review 12/05/2016 Market participant & OTC issuers - All Advisers of companies Poor disclosure of historical financial information in Issued guidance in Regulatory Guide 228 16-137MR ASIC consults on updated guidance http //www.asic prospectuses Effective disclosure for retail investors to to improve disclosure of historical financial .gov.au/about- assist companies and their advisers to better information in prospectuses asic/media- understand their disclosure obligations centre/find-a- media- release/2016- releases/16- 137mr-asic- consults-on- updated- guidance-to- improve- disclosure-of- historical- financial- information-in- prospectuses/ Surveillance 7/07/2017 Financial Advisers - Other AMMA Private Equity Pty Ltd Accounting firms that are part of the AMMA network using ASIC made a declaration that Kwickie 17-228MR ASIC takes action over misuse of http //www.asic trust structures to circumvent the prohibition on offering International Ltd shares may not be offered 'sophisticated investor' certificates .gov.au/about- shares in Kwickie International Limited without a prospectus to retail investors using a trust structure asic/media- to investors who are not sophisticated investors. centre/find-a- media- release/2017- releases/17- 228mr-asic- takes-action- over-misuse-of- sophisticated- investor- certificates/ Surveillance 18/12/2008 Financial Advisers - SMSF advice Capricorn Investment Partners Pty Ltd Accounts accompanying the offer information statement were Amended disclosure Interim Stop Order http //www.sea special purpose and not general purpose accounts; and rch.asic.gov.au/ misleading statement as to warranties by the directors cgi- bin/offerlist/off erlist?doc no 0 24671045&time 201801222110

Surveillance 31/07/2009 Deposit takers - Other Creelman Investments Ltd Poor disclosure including in relation to coupon rate, Final Stop Order to prevent securities being Final Stop Order http //www.sea businesses and financial structure, market information, offered rch.asic.gov.au/ absence of valuation of current projects, related party cgi- transactions bin/offerlist/off erlist?doc no 0 24428381&time 201801222109 RCD.0015.0003.0361

Public Results & Reports

Surveillance 26/03/2012 Deposit takers - Other APS Savings Limited Inadequate disclosure of financial position and various aspects Amended disclosure Interim Stop Order http //www.sea of the business model rch.asic.gov.au/ cgi- bin/offerlist/off erlist?doc no 0 25136812&time 201801222111

Surveillance 29/10/2012 Deposit takers - Other Endowment Bond Exchange Ltd Amended disclosure Interim Stop Order http //www.sea rch.asic.gov.au/ cgi- bin/offerlist/off erlist?doc no 0 27958515&time 201801230832

Surveillance 4/12/2012 Deposit takers - Other Mulcahy & Co Savings and Loans Pty Ltd Concerns regarding low on-going equity requirement of 2% Final Stop Order to prevent securities being Final Stop Order http //www.sea and terms in the trust deed which provides that a 5% offered rch.asic.gov.au/ commission is payable to the trustee on an event of default cgi- bin/offerlist/off erlist?doc no 0 27728422&time 201801230835

Surveillance 20/06/2013 Deposit takers - Other Assist Finance Corporation Limited Inadequate disclosure regarding Company's activities and the Amended disclosure Interim Stop Order http //www.sea application of funds, lending policy, risks, withdrawal rights rch.asic.gov.au/ cgi- bin/offerlist/off erlist?doc no 0 28179178&time 201801241434

Surveillance 2/02/2015 Financial Advisers - Other IQ3Corp Ltd Insufficient disclosure about the company's business, related Amended disclosure Interim Stop Order http //www.sea party transactions, key contracts and key risks. rch.asic.gov.au/ cgi- bin/offerlist/off erlist?doc no 0 28496572&time 201801230843

Surveillance 27/02/2015 Funds management - Other Australia International Financial Holding deficiencies in the disclosure of details of the offer and of the Final Stop Order to prevent securities being Final Stop Order http //www.sea Group Limited business model, a statement in relation to the Company's offered rch.asic.gov.au/ pending AFSL application that may be misleading, omissions in cgi- the material contracts section and in depicting ownership and bin/offerlist/off control of the company, presentation of the risk factors and of erlist?doc no 0 the director's remuneration that is not clear, concise and 27727681&time effective, misleading use of photographs, and an omitted 201801230844 consent to quote

Surveillance 6/06/2016 Financial Advisers - Other Findex Group Limited Concerns regarding the basis of preparation and auditing of Amended disclosure Interim Stop Order http //www.sea the financial statements, disclosures regarding the nature of rch.asic.gov.au/ the shares on offer (being an interest in a share, rather than a cgi- share itself) and the risks associated with the offer, in bin/offerlist/off particular that (1) the Company was not listed, (2) there were erlist?doc no 0 significant limitations on dealing in shares, and (3) it was 28303454&time possible for shareholders to be forced to deal in shares in 201801230844 particular circumstances.

Surveillance 28/11/2012 Deposit takers - Other Investment Nominees Limited Rollover prospectus. Structural issues relating to substantial Ongoing surveillance as part of wider Interim Stop Order http //www.sea under-provision in relation to bad debts and related party debentures project rch.asic.gov.au/ loans cgi- bin/offerlist/off erlist?doc no 0 28183300&time 201801230845 RCD.0015.0003.0362

Public Results & Reports

Surveillance 16/05/2008 Deposit takers - Other Cymbis Finance Australia Limited Inadequate disclosure regarding benchmarks and concerns Amended disclosure Interim Stop Order http //www.sea regarding directors involvement with debenture companies in rch.asic.gov.au/ receivership presently in New Zealand cgi- bin/offerlist/off erlist?doc no 0 23093464&time 201801230959

Review 24/04/2008 Financial Advisers - Compliance & Investor/consumer research Report on investor/consumer behaviour ASIC REP 121 08-85 Investor research report 08-85 supervision ASIC has today released the findings of research relating to Australian consumers’ understanding of investments and their levels of financial literacy.

Review 8/09/2008 Financial Advisers - Compliance & Consultation paper CP proposing improvements to the way financial services Consultation Paper 102 Dispute Resolution – AD08-05 ASIC proposes new financial services AD08-05 supervision businesses resolve disputes with consumers. update of RG 139 & RG 165 EDR claim limit of $280,000 Review 3/10/2008 Financial Advisers - Other Consultation paper CP proposing changes to the EFT Code. Consultation Paper 90, Review of the EFT AD08-32 ASIC proposes changes to EFT Code AD08-32 Code of Conduct ASIC Proposals builds on of Conduct Consultation Paper 78 Reviewing the EFT Code and the updated EFT Code. Surveillance 6/11/2008 Financial Advisers - Other Desmond Blinco Undischarged bankrupt whilst acting as an AR of AMP Banned from providing financial services for AD08-52 Toowoomba financial planner AD08-52 Financial Planning Pty Limited and AMP General Insurance 15 months. banned for 15 months Distribution Pty Limited. Surveillance 10/11/2008 Financial Advisers - Other Christopher Polinelli Polinelli was convicted on a charge of fraud. Permanently banned from providing financial AD08-55 ASIC bans Sunshine Coast man AD08-55 services. Review 18/05/2009 Financial Advisers - Compliance & EDR schemes and consumers ASIC has improved consumer access to dispute resolution RG 139, RG 165, REP 156, a RIS and two CO's. 09-88AD ASIC improves dispute resolution 09-88AD supervision schemes so that disputes can be resolved more quickly and schemes efficiently, saving time and money for industry and consumers. Surveillance 19/06/2009 Financial Advisers - Other Mr Paul Anthony Davis The banning resulted from Mr Davis’ conviction on eight fraud Permanently banned from providing financial 09-111AD ASIC permanently bans former 09-111AD related charges totalling $14,311.80. services. employee of Tynan Mackenzie Pty Ltd Surveillance 16/11/2009 Financial Advisers - Other Mr Jason William Cox Mr Cox was sentenced to 28 months imprisonment with Permanently banned from providing financial 09-226ADWest australian financial employee 09-226AD parole, for 24 counts of fraud, in the District Court of Western services. representative-banned Australia. The offences involved Mr. Cox fraudulently obtaining funds from superannuation accounts. Mr. Cox fraudulently obtained $185,755.41.

ASIC has the power to ban a person from providing financial services if the person is convicted of fraud. The offences committed by Mr. Cox constitute ‘serious fraud’ under the Corporations Act Review 18/12/2009 Financial Advisers - Compliance & Consumers/ FOS ASIC approved new TOR for FOS which will give consumers Feedback report REP 182 and approved new 09-263AD ASIC grants approval to the 09-263AD supervision increased access to independent financial services dispute Terms of Reference Financial Ombudsman Service Limited for its resolution body for new complaints received from 1 January new single terms of reference 2010. Review 7/05/2010 Financial Advisers - Other Consumers/ EDR schemes Providing consumers with greater access to free, independent •Regulatory Guide 165 Licensing Internal 10-95AD Access to dispute resolution for 10-95AD EDR services and external dispute resolution (RG 165); and consumers of credit and margin lending •Regulatory Guide 139 Approval and financial services oversight of external dispute resolution schemes (RG 139) •REP 195 Response to submissions on CP 112 Dispute resolution requirements for credit and margin lending •CP 112 Dispute resolution requirements for consumer credit and margin lending •Class Order [CO 10/249] External dispute resolution schemes (credit) •Class Order [CO 10/250] Internal dispute resolution procedures (credit)

Surveillance 17/09/2010 Financial Advisers - Insurance advice Mr Vince Aloisi of Baulkham Hills Engaging in dishonest conduct and engaging in misleading or Permanently banned from providing financial 10-196AD ASIC bans Sydney financial adviser 10-196AD deceptive conduct in relation to insurance policies services. RCD.0015.0003.0363

Public Results & Reports

Review 23/09/2010 Financial Advisers - Compliance & Consultation paper CP regarding the administration of compensation Consultation Paper 139 Compensation and 10-200AD ASIC consults on compensation 10-200AD supervision requirements for trustee companies providing traditional insurance arrangements for trustee requirements for traditional trustee company trustee company services (traditional services) to retail clients. companies providing traditional services (CP services 139). Surveillance 3/11/2010 Financial Advisers - Bank advice Commonwealth Financial Planning Limited CFP representative provided inappropriate financial advice to Commonwealth Financial Planning Limited 10-226AD CBA subsidiary responds to ASIC 10-226AD a large number of clients. agreed to implement a major client concerns over former financial adviser compensation program following an ASIC investigation. Surveillance 5/11/2010 Financial Advisers - Other Ms Danielle Marie Russell of Sorrento Failure to make an adequate determination of and make EU entered into with subject. 10-228AD Former Perth financial advisor 10-228AD reasonable inquiries into relevant personal circumstances of enters into enforceable undertaking with clients and failing to give proper regard to information ASIC obtained by clients and give proper consideration to recommendations. Review 19/11/2010 Financial Advisers - Other Industry guidance ASIC providing guidance on the kinds of factors ASIC will Updated Regulatory Guide 98 Licensing 10-243AD ASIC releases updated guidance on 10-243AD consider when determining the length of a banning order, Administrative action against financial administrative powers to enforce financial including examples of relevant misconduct for illustration. services providers (RG 98) services legislation

Review 2/12/2010 Financial Advisers - Compliance & Industry guidance An industry report which summarises the outcome of the Report 218 Electronic Funds Transfer Code of 10-254MR Stakeholders continue to support 10-254MR supervision review of the EFT Code. Conduct Review Feedback on CP 90 and Final key consumer protection regime for Positions electronic funds transfer products in recent review Surveillance 20/12/2010 Financial Advisers - Compliance & Professional Investment Services Pty Ltd ASIC was concerned that PIS may have failed to comply with EU entered into with subject. 10-275AD ASIC accepts enforceable 10-275AD supervision its obligations as an AFSL holder. undertaking from Professional Investment Services Pty Ltd Review 20/12/2010 Financial Advisers - Compliance & Industry guidance, requirements for AFSL RG 126 sets out ASIC’s policy on the mandatory compensation Updated version of Regulatory Guide 126 10-276AD ASIC updates guidance on 10-276AD supervision holders requirements for AFSLs, including minimum requirements for Compensation and insurance arrangements compensation and insurance requirements adequate PI insurance for AFS licensees (RG 126). for AFS licensees Review 23/12/2010 Financial Advisers - Compliance & Industry guidance Between 2009 and 2010, ASIC conducted research into the Access to financial advice in Australia ( REP 10-284AD ASIC releases access to financial 10-284AD supervision demand and supply of financial advice in Australia. The report 224). advice report summarises the findings, identifies current gaps in the advice market and highlights some of the actions ASIC and the industry have undertaken to improve access to advice.

Surveillance 13/01/2011 Financial Advisers - Compliance & Prosperity Advisers Pty Ltd Prosperity went into external administration on 6 October Licence cancellation ASIC cancels licence of Prosperity Advisers Not applicable supervision 2010. Under the Corporations Act, ASIC has the power to Pty Ltd suspend or cancel an AFS licence if the responsible entity holding the licence is placed under external administration without holding a hearing.

On 24 January 2011, Prosperity received a notice from ASIC under Section 915B of the Corporations Act informing the company of ASIC’s action to cancel its AFS licence.

Review 16/02/2011 Financial Advisers - Other Guidance for AFSLs, ACLs and other financial ASIC is issuing new regulatory guidance for financial •Regulatory Guide 165 Licensing internal 11-23 AD Revised internal dispute resolution 11-23AD service providers institutions to settle simple disputes internally with and external dispute resolution (RG 165) procedures for financial institutions customers.The guidance also provides coverage of IDR and •Regulatory Guide 139 Approval and EDR procedures for customers who have loans from bodies oversight of external dispute resolution which make or buy loans or leases, and repackage and sell schemes (RG 139) them to investors (securitisation).

Surveillance 9/03/2011 Financial Advisers - Bank advice Mr Don Nguyen Mr Nguyen failed to comply with the financial services laws Banned from provided financial services for 7 11-42AD Clients of Commonwealth Financial 11-42AD by years. Compensated clients. Planning compensated and ASIC bans former •failing to have a reasonable basis for advice financial adviser for seven years •failing to provide statements of advice •failing to provide product disclosure statements •failing to provide additional information when recommending the replacement of one financial product with another •making statements that were false or misleading in a material particular, and •inducing clients to deal in financial products by making statements or forecasts that were misleading, false or deceptive.

Review 11/03/2011 Financial Advisers - Compliance & Industry guidance MR details what ASIC will be focusing on in 2011. An attached update to the MR details the 11-44MR ASICs forward focus for the financial 11-44MR supervision types of issues we will be looking at, and why advice industry we consider them important. RCD.0015.0003.0364

Public Results & Reports

Surveillance 17/03/2011 Financial Advisers - Compliance & UBS Wealth Management Australia Ltd Issues with compliance culture and frameworks and past EU entered into with subject. 11-52MR ASIC accepts legally enforceable 11-52MR supervision compliance failures in the provision of financial advice to retail undertaking from UBS Wealth Management clients. Australia Review 21/03/2011 Financial Advisers - SMSF advice Industry AFSL holders and financial service ASIC assessing the quality of retirement financial advice No actions or outcomes as such. ASIC 11-53MR ASIC begins shadow shopping 11-53MR providers. provided. annoucement that it will commence its research shadow shop work. Review 6/04/2011 Financial Advisers - Other Industry guidance ASIC seeking proposals relating to the assessment and Consultation Paper 153 Licensing Training 11-75MR ASIC proposes new training and 11-75MR professional development of financial advisers of Tier 1 and assessment framework for financial assessment framework for financial advisers products. advisers (CP 153) Review 20/04/2011 Financial Advisers - Other Industry guidance Regulatory guidance to help improve avenues for making Key changes made to RG 165 and RG 139. 11-86AD ASIC improves complaints avenues 11-86AD complaints from 1 January 2012. for clients of traditional trustee services businesses Surveillance 19/05/2011 Financial Advisers - Compliance & Mr Allan Radcliffe Joyner (trading as Peter •Joyner had breached a number of its financial, reporting and Licence cancelled. 11-101MR ASIC cancels NSW AFS licence 11-101MR supervision Joyner and Associates) other obligations as a financial services licensee including failing to maintain adequate compensation arrangements, •There was reason to believe that Joyner may continue to breach its obligations under financial services laws, and •Joyner provided information regarding its compensation arrangements for retail investors to ASIC that was misleading or deceptive.

Review 19/05/2011 Financial Advisers - Other Industry guidance Research on the social impact of misconduct in the financial Report 240 Compensation for retail investors 11-102MR ASIC research on the impacts of 11-102MR services industry. It gives examples of misconduct leading to the social impact of monetary loss (REP 240) misconduct financial losses, such as inappropriate advice, fraud, defective disclosure and misleading or deceptive conduct.

Surveillance 29/06/2011 Financial Advisers - Compliance & Shaun Daniel Fitzgerald Misappropriated more than $1 million from his clients over a Permanently banned from providing financial 11-127AD Financial adviser banned following 11-127AD supervision three month period services. $1.3m fraud Surveillance 17/08/2011 Financial Advisers - Other Frontline Financial Planning ASIC has received numerous complaints from investors about ASIC issues warning on Frontline Financial 11-173MR Beware of Frontline Financial 11-173MR Frontline. Frontline allegedly contacts individuals by phone Planning Planning ASIC and encourages them to participate in a two-week trial with access to an investment account managed by a company broker. Complainants who have taken up the trial to date have been unable to recover their money following the two-week period. Review 13/09/2011 Financial Advisers - Compliance & The top 20 licensees Risk-based surveillance report ASIC released a report on the Download Report 251 Review of financial 11-202MR ASIC reports on phase one review 11-202MR supervision information it received in 2010 from the top 20 financial advice industry practice of financial advice industry practice services licensees on their practices. Surveillance 20/09/2011 Financial Advisers - Other Mr Phillip John Kingston A Tasmania-based insurance agent has been permanently Permanently banned from providing financial ASIC bans Tasmanian insurance agent ASIC bans banned from providing financial services after being convicted services. following fraud conviction Tasmanian of fraud offences. insurance agent following fraud conviction

Surveillance 26/10/2011 Financial Advisers - Compliance & Commonwealth Financial Planning Limited Concerns with CFP's risk management framework and legal EU entered into with subject. 11–229MR ASIC accepts enforceable 11–229MR supervision and regulatory obligations regarding the provision of financial undertaking from Commonwealth Financial services, financial advice and the monitoring and supervision Planning of its representatives. Surveillance 7/11/2011 Financial Advisers - Compliance & Australian Financial Services Limited Concerns in relation to Licence conditions imposed on subject. 11-243MR ASIC imposes licence conditions on 11-243MR supervision (a) Managing conflicts of interests; Australian Financial Services Limited (b) Meeting the requirements of a compliant dispute resolution system; (c) The monitoring and supervision of staff and representatives; (d) Compliance with the requirements of s945A of the Act - the requirement to have a reasonable basis for advice provided to clients; and (e) compliance with s947D of the Act - the requirements when advice recommends replacement of one financial product with another. Review 15/11/2011 Financial Advisers - Compliance & Research houses ASIC released consultation paper proposing research report Consultation Paper released 11–255MR ASIC proposals for research 11-255MR supervision providers separate their business units as a strategy to houses manage conflicts. Surveillance 24/11/2011 Financial Advisers - Compliance & Ferguson No 2 Pty Ltd Failing to comply with the conditions of its AFS llicence. License Cancellation 11-268MR ASIC cancels licence of Ferguson 11-268MR supervision No 2 Pty Ltd RCD.0015.0003.0365

Public Results & Reports

Review 2/12/2011 Financial Advisers - Compliance & EDR Schemes EDR Schemes handling of complaints when members Consultation Paper released 11-279AD ASIC review EDR schemes handling 11-279AD supervision commence debt recovery legal proceedings of complaints when members commence debt recovery legal proceedings

Review 7/12/2011 Financial Advisers - Compliance & 30 AFSL identified as Phase 2 in ASIC's Risk ASIC to commence review that will inform financial advisory Commencement of second phase of review 11-284MR ASIC begins second phase of 11-284MR supervision Based Surveillance Project sector about currnet trends and ASIC's compliance of financial advice industry practice. review of financial advice industry practice expectations. Surveillance 10/01/2012 Financial Advisers - Bank advice Simon Langton Failed to meet various obligations as a financial adviser. Financial Adviser banned from providing 12-02AD ASIC accepts enforceable 12-02AD financial services for a minimum of 2 years. undertaking from former Commonwealth Financial Planning adviser Review 27/03/2012 Financial Advisers - Compliance & Retirement advice shadow shopping research ASIC's research found that over a third of the advice examples Report released on retirement advice shadow 12-55MR ASIC releases full report on 12-55MR supervision were poor, there were only two examples of good quality shopping research retirement advice shadow shopping research advice and the majority of advice examples reviewed were adequate. Surveillance 16/04/2012 Financial Advisers - Compliance & Australian Performance Financial Planning Australian Performance Financial Planning Pty Ltd has been Suspension for 3 months 12-70AD ASIC suspends Australian 12-70AD supervision Pty. Ltd. put under the control of an external administrator Performance Financial Planning Pty Ltd licence Surveillance 2/05/2012 Financial Advisers - Compliance & Use of the term "independent" ASIC has corrected claims made by insurance brokers and the relevant AFSLs have now removed or 12-83MR ASIC warns financial services 12-83MR supervision financial planners about the independence of their services. amended the statement in each of the 21 licensees about the use of the term instances. 'independent' Surveillance 7/05/2012 Financial Advisers - Compliance & Southpoint Insurance Brokers Pty Ltd The company’s licence has been suspended until 12 November Licence suspension ASIC suspends financials services licence of ASIC suspends supervision 2012 after ASIC found it had breached its legal obligations and New South Wales insurance broker financials licence conditions services licence of New South Wales insurance broker

Surveillance 19/06/2012 Financial Advisers - Compliance & Australian Life Insurance Distribution Pty Ltd Failed to comply with a number of its obligations as an AFSL Impose licence condition to employ an 12-132MR ASIC imposes licence conditions on 12-132MR supervision external compliance consultant insurance group Review 28/06/2012 Financial Advisers - Compliance & National Examiniation for financial advisers Measures to improve competency and professionalism in the ASIC announced next phase of consultation to 12-146MR ASIC to discuss next phase of 12-146MR supervision advice industry implement a national examination for financial advisers exam financial advisers. Surveillance 30/07/2012 Financial Advisers - Compliance & Morrison Carr Financial Servces Dennis ASIC cancelled both the AFSL and Australian credit licence Licence cancellation 12-178MR ASIC cancels licences of national 12-178MR supervision Cardakaris after undertaking surveillance of the business. financial planning business Permanently banned from providing financial services Surveillance 2/08/2012 Financial Advisers - Compliance & Morrison Carr Financial Services Pty Ltd Licence cancellation ASIC cancels licences of Morrison Carr and ASIC cancels supervision Mr Dennis Cardakaris ASIC was concerned Mr Cardakaris was not of good fame and permanently bans sole director licences of character given evidence he provided false information to its Permanently banned from providing financial Morrison Carr insurer and took steps to avoid client claims. services and permanently bans sole director Surveillance 25/09/2012 Financial Advisers - Compliance & Peter Raymond Holt Mr Holt failed to comply with numerous financial services Banned for three years 12-236MR ASIC bans Victorian financial 12-236MR supervision laws. adviser for failing to comply with financial services laws Surveillance 19/10/2012 Financial Advisers - Compliance & Australian Performance Financial Planning Licence cancelled after suspension Licence Cancellation effective 2 October 2012 12-255MR ASIC cancels Australian 12-255MR supervision Pty. Ltd. Performance Financial Planning Pty Ltd licence Review 23/10/2012 Financial Advisers - Compliance & Code approval under FOFA Prevent disengaged clients from paying ongoing advice fees Consultation paper released 12-257MR ASIC consults on code approval 12-257MR supervision for services of little or no value under FOFA and confirms facilitative approach to FOFA introduction

Surveillance 20/12/2012 Financial Advisers - Compliance & AMP Horizons Group Following surveillance, ASIC identified a number of areas that AMP Horizons improves compliance 12-326MR AMP Horizons improves 12-326MR supervision were not of the standard expected of of an AFLS measures compliance measures following ASIC concerns Surveillance 2/01/2013 Financial Advisers - Compliance & Satellite Financial Planning Pty Ltd ASIC held concerns the licensee may not have complied with a Licence cancellation ASIC cancels licence of Satellite Financial Not applicable supervision financial services law s Planning Pty Ltd (394791) RCD.0015.0003.0366

Public Results & Reports

Surveillance 8/01/2013 Financial Advisers - Compliance & Cabot Square Financial Planning Pty Ltd Cabot Square's licence was suspended after it failed to comply Licence suspension ASIC suspends financial services licence of ASIC suspends supervision with the financial services laws Sydney based financial planning business | financial ASIC - Australian Securities and Investments services licence Commission of Sydney based financial planning business | ASIC - Australian Securities and Investments Commission

Surveillance 29/01/2013 Financial Advisers - Remediation Macquarie Equities Ltd ASIC accepted an enforceable undertaking from Macquarie The EU requires MEL to develop and ASIC accepts enforceable undertaking from ASIC accepts Equities Limited (MEL) following a surveillance that found implement, with the oversight of an Macquarie Equities Ltd enforceable compliance deficiencies by and in the supervision of MEL’s independent expert, a plan to rectify any undertaking advisers. licence risk management and compliance from Macquarie deficiencies. Equities Ltd

Surveillance 6/02/2013 Financial Advisers - Compliance & AAA Intelligence Pty Ltd AAA had omprehensively and repeatedly failed to comply with Licence cancellation ASIC cancels licences of national financial ASIC cancels supervision AAA Shares Pty Ltd the Corporations Act 2001 and the conditions of its AFS planning business licences of licence. national ASIC was particularly concerned about the level of supervision financial of the representatives AAA appointed and, in effect, their planning conduct and the advice they provided to retail clients. business

Surveillance 17/03/2013 Financial Advisers - Compliance & Lionsgate Financial Group Pty. Ltd. Lionsgate was not complying with its general obligations as an ASIC imposed additional licence conditions ASIC imposes conditions on Lionsgate licence 13-042MR supervision AFSL. requiring Lionsgate to appoint an independent expert to review the organisation's arrangements, identify any deficiencies, and recommend enhancements appropriate to the business.

Review 11/04/2013 Financial Advisers - Compliance & General MR to update industry and others General MR to update industry and others regarding the ASIC today provided an update on the 13-078MR Update on financial advisers exam 13-078MR supervision regarding the financial adviser exam financial adviser exam proposal to introduce a national examination for financial advisers.

ASIC has decided to delay work on the implementation of the exam to allow appropriate time for other reforms to be implemented in the financial advice sector, notably the Future of Financial Advice (FOFA) package.

ASIC views the exam as a very important initiative to ensure consistent national standards for advisers. ASIC will continue to explore options to implement this proposal at the appropriate time once the FOFA reforms have been bedded down.

Review 18/04/2013 Financial Advisers - SMSF advice Report 337 SMSFs Improving the quality of Report 337 SMSFs Improving the quality of advice given to Report 337 SMSFs Improving the quality of Maintaining a healthy SMSF sector - http //asic.gov.a advice given to investors (REP 337). The report investors (REP 337). The report summarises the findings from advice given to investors (REP 337). The Improving the quality of advice u/about- summarises the findings from the first major the first major project undertaken by ASIC’s Self-managed report summarises the findings from the first asic/media- project undertaken by ASIC’s Self-managed superannuation fund (SMSF) taskforce. major project undertaken by ASIC’s Self- centre/find-a- superannuation fund (SMSF) taskforce. managed superannuation fund (SMSF) media- taskforce. release/2013- releases/13- 081mr- maintaining-a- healthy-smsf- sector- improving-the- quality-of- advice/ RCD.0015.0003.0367

Public Results & Reports

Surveillance 19/04/2013 Financial Advisers - Compliance & Guardian Royal Financial Services Pty Ltd ASIC held concerns the licensee may not have complied with a Licence cancellation ASIC cancels licence of Guardian Royal Not applicable supervision (AFSL 294227) financial services law s912A. Financial Services Pty Ltd Review 1/05/2013 Financial Advisers - Compliance & Report 340 ‘Capital protected’ and ‘capital Report 340 ‘Capital protected’ and ‘capital guaranteed’ retail ASIC today released a health check of the 13-093MR ASIC health check on capital 13-093MR supervision guaranteed’ retail structured products (REP structured products (REP 340) found retail investors often Australian market for unlisted retail protected products 340) found retail investors often have a poor have a poor understanding of these complex investments. structured products promoted as having understanding of these complex investments. capital protection or a capital guarantee. REP 340 highlights the way that some of these products are Report 340 ‘Capital protected’ and ‘capital labelled, with confusing or potentially misleading messages guaranteed’ retail structured products (REP about the level of risk investors are exposed to. 340) found retail investors often have a poor understanding of these complex investments. REP 340 highlights the way that some of these products are labelled, with confusing or potentially misleading messages about the level of risk investors are exposed to.

Review 24/06/2013 Financial Advisers - Compliance & ASIC publishes Consultation Paper 212 ASIC publishes Consultation Paper 212 Licensing Training of ASIC today released a consultation paper 13-149MR ASIC consults on enhancements to 13-149MR supervision Licensing Training of financial product financial product advisers – Updates to RG 146 (CP 212) proposing enhancements to the training training standards advisers – Updates to RG 146 (CP 212) standards for people who provide financial product advice. Consultation Paper 212 Licensing Training of financial product advisers – Updates to RG 146 (CP 212) outlines proposed changes to the training standards that are set out in Regulatory Guide 146 Licensing Training of financial product advisers (RG 146).

Surveillance 27/06/2013 Financial Advisers - Compliance & Suncorp Group, GuardianFP Ltd Suncorp has committed to improve the processes for Improved business processes Suncorp Groups Life and General Insurance 13-155MR supervision •monitoring and supervising representatives in its life and businesses to improve compliance systems general insurance businesses following independent expert review •reporting incidents and breaches in its life and general insurance businesses •administering insurance policy customer discounts in its general insurance business, and •training representatives in its general insurance business.

Surveillance 28/06/2013 Financial Advisers - Compliance & Silverton Partners Pty Ltd (AFSL 308325) This matter concerns an AFSL cancellation action under s915C Licence cancellation ASIC cancels licence of Silverton Partners Pty Not applicable supervision of the Corporations Act based on concerns that Silverton failed Ltd to comply with Base Level Financial requirements and timely lodgement of financial reports over a number of years.

Review 31/07/2013 Financial Advisers - Compliance & General media release updating market on Report 362 Review of financial advice industry practice Phase Publication of Report 362 Review of financial 13-197MR ASIC update on financial advice 13-197MR supervision two FA matters 2 (REP 362) advice industry practice Phase 2 (REP 362) stakeholder engagement

and and

ASIC has recently visited 24 newly licensed financial advice ASIC has recently visited 24 newly licensed businesses, representing a quarter of the advice licensees that financial advice businesses, representing a obtained their AFS licence between July 2011 and June 2012. quarter of the advice licensees that obtained These visits aimed to help the new licensees better comply their AFS licence between July 2011 and June with AFS licence obligations. 2012. These visits aimed to help the new licensees better comply with AFS licence obligations. RCD.0015.0003.0368

Public Results & Reports

19/08/'2013 Financfal Ad\lisers • Compliance & Consultation Paper 215 Assessment and Consultation Paper 215 Assessment and approval of training ASIC today released a consultation paper B-219MR ASIC consults on a proposed supervision approval of training courses for financial courses for financial product advisers Update to RG 146 (CP proposing a replacement process to the ASIC reelacement to the Training Rttister product advisers Update to RG 146 (CP 215) 215) Training Register, which has been under review since 24 September 2012. Consultation Paper 215 Assessment and approval of training courses for fi nancial product advisers Update to RG 146 (CP 215} outlines proposed changes to the process for assessment and approval of training courses for financial advisers.

3/rh/2013 Financfal Al:Msers- Compliance & ASIC's review of research product providers ASIC reminds licensees giving personal financial product From 1 September 2013, research report 13-244MR Time to quiz your research 13-244MR supervision advice that now is the time to quiz their research provider to providers need to comply with ASIC's orovider ensure they are providing quality research. updated guidance in Regulatory Guide 79 Research report providers Improving the q uality of investment research (RG 79).

16/09/2013 Financfal AcMsers • SMSF advice ASIC's review of the SMSF sector. As part of its continuing focus on the setf-managed As part of its continuing focus on the self· l } 243MR ASIC mosutts Po the mia!jty pf superamuation fund (SMSf} sector, ASIC today released managed superannuation fund {SMSF) sector ~ proposed guidance to imprcwe the quality of advice given to ASIC today released proposed guidance to investors. imprcwe the quality of advice given to investors. ASIC's recent review of the sector found there was significant room for improvement in the quality of advice received by ASIC's recent review of the sector found clients. In particular, ASIC found that there is a need to there was significant room for improvement improve the disclosure of information that may influence a in the quality of ad'We received by clients. In decision to establish or switch to an SMSF. particular, ASIC found that there is a need to imprcwe the d isdosure of information that may influence a decision to establish or switch to an SMSf.

4/12/2013 Finaooial Al:Msers ·Compliance & Report 377 Review of advice on retail ASIC's assessment of advice provided by financial seMces Report 377 Review of advice on retail 13-324MR ASIC finds advice on comolex 13-324MR supervision structured products (REP 377} fi rms to investors about capital protected products found structured products (REP 377) found that in capital protected oroducts needs to improve many advisers did not make adequate enquiries into their approximately half of the fi les. there was clients' personal circumstances. insufficient evidence to show that advisers had met their obligations to investigate clients' relevant circumstances, the subject matter of the advice and then to provide appropriate recommendations.

Surveillance 21/05/2014 Finaooial AcMsers ·Compliance & Connect financial Services Pty ltd, • Inappropriate advice about SMSFs licensee agreed to review and re mediate AStC concerns promot Sentry Financial supervision REDACTED - clients and appoint independent expert ot Services to IXldertalce a review of SMSf reporttoASIC. ~

3/07/2014 Flnaooial Al:Msers ·Compliance & Tax Practitioners Board The Tax Practrooners Board (TPB) regutates financial advisers AFS licensees and their authorised 14-152MR New regulation of financial 14-1S2MR supervision who provide tax (financial) advice seMces under the Tax representatives who provide a tax (financial} advisers providing tax advice Agent Services Act 2009 (Cth) {TASA). service need to notify the TPB to become registered as a tax (fi nancial) adviser. RCD.0015.0003.0369

Public Results & Reports

Surveillance 3/07/2014 Financial Advisers - Remediation Commonwealth Bank Of Australia Expansion of its remediation program of financial advice In the event any breaches of law are 14-153MR ASIC notes expansion of CBA 14-153MR customers. identified in this program, the Licensee will financial advice remediation report those breaches to ASIC in accordance with the law on breach reporting.

Surveillance 28/07/2014 Financial Advisers - Compliance & Professional Investment Services Pty Ltd To ensure compliance with regulatory requirements for Licensee has has achieved a significant 14-181MR Large advice licensee finalises 14-181MR supervision personal advice, the effectiveness of its advice audit and pre- improvement in its compliance and audit monitoring program vet functions and its remediation of poor advice. functions.

Review 8/08/2014 Financial Advisers - SMSF advice multiple licensees Wholesale and retail investor test to apply to self-managed ASIC will take regulatory action where 14-191MR Statement on wholesale and retail 14-191MR superannuation funds. financial service providers miscategorise their investors and SMSFs clients. Surveillance 8/08/2014 Financial Advisers - Remediation Commonwealth Bank financial planning CBA informed ASIC that the original process developed to Licence condition 14-192MR ASIC imposes new AFS licence 14-192MR businesses compensate customers of former CFPL advisers was not condition on two Commonwealth Bank applied consistently across all impacted customers of the two financial planning businesses businesses. Review 9/10/2014 Financial Advisers - Insurance advice multiple licensees appropriateness of life insurance advice ASIC REP 413 Higher standards needed for life insurance http //asic.gov.a industry u/regulatory- resources/find-a- document/repor ts/rep-413- review-of-retail- life-insurance- advice/

Surveillance 14/11/2014 Financial Advisers - Remediation Commonwealth Bank financial planning AFS licence conditions that require a separate customer KordaMentha Forensic to examine two of the 14-302MR ASIC appoints compliance expert 14-302MR businesses remediation steps and a supervised advice review. Commonwealth Bank of Australia’s financial to monitor CBA financial planning businesses planning arms’ compliance with new Australian financial services licence (AFS) conditions and report regularly to ASIC the results.

Review 19/11/2014 Financial Advisers - Compliance & multiple licensees ASIC notes the Senate has disallowed the Corporations ASIC will take a practical and measured 14-307MR Disallowance of FOFA regulations 14-307MR supervision Amendment (Streamlining Future of Financial Advice) approach to administering the law as it now Regulation 2014 stands following the disallowance of the Corporations Amendment (Streamlining Future of Financial Advice) Regulation 2014.

Review 6/05/2015 Financial Advisers - Compliance & ASIC Regulatory Guidance The new regulatory guide will build on ASIC’s recent ASIC will develop a regulatory guide on 15-101MR ASIC to give guidance on review 15-101MR supervision experience overseeing review and remediation programs, as review and remediation programs conducted and remediation in the financial advice well as Regulatory Guidance 165 and 139. by Australian financial services licensees that industry provide financial advice.

Review 23/07/2015 Financial Advisers - Compliance & multiple licensees ASIC has today released two information sheets to improve To improve the quality of advice provided by 15-192MR ASIC releases guidance on SMSF 15-192MR supervision the quality of advice provided by advisers on self-managed advisers on self-managed superannuation advice superannuation funds (SMSFs). funds (SMSFs). Surveillance 16/09/2015 Financial Advisers - Bank advice Mr Alfie Chong (AR 242148) ASIC banned Alfie Chong for five years following after our Banned from providing financial services for ASIC bans former Meritum Financial Group ASIC bans review of Mr Chong's advice and compliance record found a five years. adviser former Meritum number of concerns. ASIC reviewed Mr Chong's advice as part Financial Group of a review of advice across ten licensees in relation to adviser complex retail structured products (refer 15-036MR).

Surveillance 24/09/2015 Financial Advisers - Insurance advice Lukas Zelka •failed to act in the best interest of his clients by not giving Banning for 3 years ASIC bans life insurance financial adviser 15-269MR adequate consideration to the information he had obtained about their relevant circumstances, including their existing insurance •failed to provide appropriate advice •failed to have a reasonable basis for advice, and •relied excessively on template statements of advice containing prepopulated information, failing to tailor them to the client’s specific circumstances which led to false and misleading statements being made RCD.0015.0003.0370

Public Results & Reports

Review 14/12/2015 Financial Advisers - Compliance & ASIC Regulatory Guidance The ASIC review found some PI insurance policies do not meet All Australian financial services (AFS) 15-379MR ASIC finds professional indemnity 15-379MR supervision the requirements in RG 126. licensees must have arrangements to insurance for financial advisers stable and compensate clients and generally this means available but gaps exist holding adequate PI insurance. Regulatory Guide 126 sets out the minimum requirements. Surveillance 15/12/2015 Financial Advisers - Bank advice Mr Mark Tidbury (AR 271183) ASIC banned Mark Tidbury for six years. An ASIC review of Mr Banned from providing financial services for ASIC bans former Meritum Financial Group ASIC bans Tidbury's advice found that Mr Tidbury had recommended six years. adviser former Meritum clients switch to a different superannuation product in Financial Group circumstances where there was little benefit but significant adviser additional cost to the client in switching. Meritum identified Tidury's misconduct through a proactive commission data review.

Review 16/12/2015 Financial Advisers - Compliance & ASIC Regulatory Guidance The proposed changes to the record-keeping obligations The consultation paper provides draft 15-388MR ASIC releases draft guidance on 15-388MR supervision relating to the best interests duty seek to place beyond doubt guidance on review and remediation programs and that AFS licensees must have access to records for the period •when to establish a review and remediation proposed changes to record-keeping of time in which the records are required to be kept, even if a program requirements for advice licensees person other than the licensee holds the records. •determining the scope of the program •designing a comprehensive and effective program •communicating effectively with clients, and •ensuring access to the external review of decisions.

Surveillance 17/12/2015 Financial Advisers - Bank advice Commonwealth Bank financial planning This report was required under additional conditions imposed As a result of KordaMentha Forensic's finding, 15-390MR Update on licence conditions of 15-390MR businesses by ASIC on the Australian financial services (AFS) licences of the licensees are required to review client two Commonwealth Bank financial planning CFPL and FWL in August 2014. files of 17 advisers to determine whether the businesses ASIC releases second report into advisers should be included in a advice compensation program compensation program. Surveillance 24/02/2016 Financial Advisers - Compliance & Traders4Traders Pty Ltd Failure to lodge financial statements, auditor reports and Licence suspension 16-045MR ASIC suspends AFS licence for 16-045MR supervision auditor opinions over consecutive years and failure to advise failing to lodge financial statements ASIC of this significant breach.

Review 29/02/2016 Financial Advisers - Compliance & ASIC Regulatory Guidance Proposing to maintain relief that ASIC has previously provided The instruments which ASIC proposes to 16-048MR ASIC consults on addressing 16-048MR supervision from certain obligations under the Corporations Act 2001 to remake are 'sunsetting' dollar disclosure class orders state various costs, fees, charges expenses and interests as •Class Order [CO 04/1431] Dollar disclosure amounts in dollars in certain disclosure documents. Cost of derivatives, foreign exchange contracts, general insurance products and life risk insurance products; •Class Order [CO 04/1433] Dollar disclosure Non-monetary benefits and interests; and •Class Order [CO 04/1435] Dollar disclosure Amounts denominated in a foreign currency.

Review 21/03/2016 Financial Advisers - Compliance & ASIC Regulatory Guidance ASIC today released a consultation paper and a draft ASIC is also seeking feedback on issues that 16-082MR ASIC consults on proposed 16-082MR supervision Regulatory Guide on regulating digital financial product advice are unique to digital advice businesses, in guidance about 'robo-advice' (also commonly known as robo-advice). particular •the organisational competence obligation that applies in a digital advice context; and •the ways in which digital advice licensees should monitor and test their algorithms.

Surveillance 3/06/2016 Financial Advisers - Other Alfie Chong conduct "involved repeated / systemic compliance failures" Banning for 5 years 16-177MR Independent tribunal upholds 16-177MR and he "repeatedly tried to shift the blame for his own failure financial adviser banning by ASIC to comply with the Corporations Law" Review 7/06/2016 Financial Advisers - Compliance & multiple licensees from 1 July 2016, accountants must hold a limited Australian Accountants who intend to get their 16-182MR Limited AFS licensing regime 16-182MR supervision financial services (AFS) licence or be an authorised application to ASIC before 30 June 2016 Transitional arrangements end 30 June 2016 representative of a licence-holder or licensee in order to should be aware that only complete provide financial product advice on self-managed applications will be accepted for lodgement. superannuation funds (SMSFs). RCD.0015.0003.0371

Public Results & Reports

Surveillance 17/06/2016 Financial Advisers - Other Atish Prasad failure to comply with the financial services laws Banning for 18 months 16-195MR AAT reduces financial banning 16-195MR term by ASIC Review 7/07/2016 Financial Advisers - SMSF advice multiple licensees From 1 July 2016, accountants intending to make Holders of limited AFS licences are subject to 16-220MR Transition period for recognised 16-220MR recommendations to acquire or dispose of an interest in an the standard Corporations Act conduct, accountants providing SMSF related financial SMSF must hold a limited AFS licence (or full AFS licence) or disclosure and compliance requirements and product advice has ended become an Authorised Representative (AR) of an AFS licensee. obligations including the requirement to act in the best interests of clients and avoid accepting conflicted remuneration.

Surveillance 24/08/2016 Financial Advisers - Compliance & R S Capital Partners Pty Ltd making potentially misleading representations about the cost infringement notice penalty 16-266MR R S Capital Partners Pty Ltd pays 16-266MR supervision of setting up a self-managed superannuation fund (SMSF) infringement notice following 'free SMSF set using RS Capital's services. up' claims Review 26/08/2016 Financial Advisers - Compliance & ASIC class order on dollar disclosure ASIC class order on dollar disclosure ASIC class order on dollar disclosure 16-274MR ASIC remakes ‘sunsetting’ class 16-274MR supervision orders on dollar disclosure Review 30/08/2016 Financial Advisers - Compliance & ASIC Regulatory Guidance 255 ASIC Regulatory Guidance 255 ASIC has today released its guidance on 16-278MR ASIC releases guidance on 16-278MR supervision providing digital financial product advice for regulating digital advice retail investors Providing digital financial product advice to retail clients (RG 255).

Review 15/09/2016 Financial Advisers - Compliance & ASIC Regulatory Guidance 256 ASIC Regulatory Guidance 256 ASIC has released guidance on review and 16-311MR ASIC releases guidance on review 16-311MR supervision remediation conducted by Australian and remediation financial services (AFS) licensees providing personal advice to retail clients. The guidance reflects work done with industry over the past several years where ASIC has worked with advice licensees with large remediation programs to shape the scope and nature of remediation arising from systemic advice issues.

Review 6/10/2016 Financial Advisers - Compliance & General media release warning licensees to ASIC has been pursuing Australian Financial Services (AFS) ASIC has been pursuing Australian Financial 16-341MR ASIC warns AFS licensees to lodge 16-341MR supervision lodge their annual financial statements and licensees that have failed to meet their obligation to lodge Services (AFS) licensees that have failed to financial statements and auditor's reports on auditor's reports with ASIC within the their annual financial statements and auditor's reports with meet their obligation to lodge their annual time specified timeframe. ASIC within the specified timeframe. financial statements and auditor's reports with ASIC within the specified timeframe.

Review 27/10/2016 Financial Advisers - Compliance & Amendment to Class Order ASIC has clarified financial advisers’ record-keeping ASIC has clarified financial advisers’ record- 16-362MR ASIC clarifies record-keeping 16-362MR supervision obligations by way of an amendment to Class Order [CO keeping obligations by way of an amendment obligations for financial services licensees 14/923] Record-keeping obligations for Australian financial to Class Order [CO 14/923] Record-keeping services licensees when giving personal advice. obligations for Australian financial services licensees when giving personal advice.

Review 27/10/2016 Financial Advisers - Compliance & The Australian Securities and Investments The report provides an update on ASIC's work to address The Australian Securities and Investments 16-365MR ASIC releases report on the 16-365MR supervision Commission (ASIC) today released Report 499 financial institutions' and advisers' systemic failures, over a Commission (ASIC) today released Report 499 charging of advice fees without providing Financial advice Fees for no service (REP 499). number of years, to provide ongoing advice services to Financial advice Fees for no service (REP advice by major financial institutions customers who paid fees to receive those services. The report 499). summarises ASIC's work to ensure customers are fairly compensated. The report is part of ASIC's Wealth The report provides an update on ASIC's work Management Project which is focusing on the conduct of the to address financial institutions' and advisers' largest financial advice firms, including the advice arms of systemic failures, over a number of years, to AMP, ANZ, CBA, NAB and Westpac groups (refer 15-081MR). provide ongoing advice services to customers who paid fees to receive those services. The report summarises ASIC's work to ensure customers are fairly compensated. The report is part of ASIC's Wealth Management Project which is focusing on the conduct of the largest financial advice firms, including the advice arms of AMP, ANZ, CBA, NAB and Westpac groups (refer 15-081MR). RCD.0015.0003.0372

Public Results & Reports

Review 27/10/2016 Financial Advisers - Remediation the big four banks, AMP and Macquarie licensees charging fees without providing financial advice ASIC REP 499 Report 499 Financial advice Fees for no http //asic.gov.a service (REP 499). u/regulatory- resources/find-a- document/repor ts/rep-499- financial-advice- fees-for-no- service/

Review 23/11/2016 Financial Advisers - Compliance & ASIC approves FPA code of Code regarding the ASIC approves FPA code of Code regarding the opt-in ASIC has provided relief for members of the 16-404MR ASIC approves the FPA 16-404MR supervision opt-in requirement. requirement. Financial Planning Association of Australia Professional Ongoing Fees Code (FPA) who subscribe to the FPA Professional Ongoing Fees Code (the FPA Code) from compliance with the opt-in requirement. The relief is faciltated by ASIC's approval of the FPA Code. The opt-in requirement was introduced as part of the Future of Financial Advice (FoFA) reforms and requires an Australian financial services (AFS) licensee or authorised representative who receives fees under an ongoing fee arrangement to provide personal financial product advice, to give the client a written renewal notice every two years which requires the client to opt-in to renew that fee arrangement.

Review 8/12/2016 Financial Advisers - SMSF advice ASIC publishes INFO Sheet 216 ASIC publishes INFO Sheet 216 ASIC has issued an information sheet for 16-425MR Information sheet for accountants 16-425MR accountants who provide services in relation who provide services to self-managed to self-managed superannuation funds superannuation funds (SMSFs).

Information Sheet 216 AFS licensing requirements for accountants who provide SMSF services (INFO 216) covers how the Australian Financial Services (AFS) licensing regime applies to SMSF services provided by accountants. It sets out the various SMSF services an accountant might provide and whether a licensing exemption applies to them or whether an accountant must be covered by an AFS licence for those services.

Review 22/02/2017 Financial Advisers - Compliance & ASIC updates Regulatory Guide 245 ASIC updates Regulatory Guide 245 ASIC has today released an updated 17-039MR ASIC updates its guidance on fee 17-039MR supervision Regulatory Guide 245 Fee disclosure disclosure statements statements (RG 245) to reflect regulatory and legislative changes since the guide was first published, including revisions to the Future of Financial Advice (FOFA) reforms. The fee disclosure statement (FDS) obligations require advice providers who have an ongoing fee arrangement with a retail client to provide the client with an annual FDS setting out information about •the fees paid by the client; •the services provided to the client; and •the services that the client was entitled to receive. RCD.0015.0003.0373

Public Results & Reports

Review 17/03/2017 Financial Advisers - Bank advice ASIC Regulatory Guidance 256 ASIC Regulatory Guidance 256 ASIC has released guidance on review and 17-068MR ASIC reports on how large financial 17-068MR remediation conducted by Australian advice firms have dealt with poor advisers financial services (AFS) licensees providing personal advice to retail clients. The guidance reflects work done with industry over the past several years where ASIC has worked with advice licensees with large remediation programs to shape the scope and nature of remediation arising from systemic advice issues.

Review 31/05/2017 Financial Advisers - Compliance & Consultation Paper 284 Consultation Paper 284 ASIC has today released a consultation paper 17-163MR ASIC consults on new example 17-163MR supervision on a new example Statement of Advice (SOA) Statement of Advice for life insurance for life insurance. Consultation Paper 284 Example Statement of Advice for life insurance Update to RG 90 (CP 284) seeks feedback on the new example SOA and related updates to the guidance in Regulatory Guide 90 Example Statement of Advice Scaled advice for a new client (RG 90).

Review 5/06/2017 Financial Advisers - Insurance advice ASIC has made ASIC Corporations (Life ASIC has made ASIC Corporations (Life Insurance ASIC has made ASIC Corporations (Life 17-168MR ASIC releases instrument setting 17-168MR Insurance Commissions) Instrument 2017/510 Commissions) Instrument 2017/510 (Life Insurance Insurance Commissions) Instrument the commission caps and clawback amounts (Life Insurance Commissions Instrument). Commissions Instrument). 2017/510 (Life Insurance Commissions as part of the life insurance advice reforms Instrument), as part of the life insurance reform package which was announced by the Government on 6 November 2015. Review 26/06/2017 Financial Advisers - Compliance & ASIC has issued ASIC Corporations (Urgent ASIC has issued ASIC Corporations (Urgent Superannuation ASIC has issued ASIC Corporations (Urgent 17-203MR ASIC temporarily extends time to 17-203MR supervision Superannuation Advice) Instrument 17-530. Advice) Instrument 17-530. Superannuation Advice) Instrument 17-530 provide Statements of Advice for urgent (the Instrument) to temporarily extend the superannuation advice time financial advisers have to provide retail clients with a Statement of Advice (SoA).

Review 27/06/2017 Financial Advisers - Other General media release clarifying s923A Use of restricted terms under s923A ASIC has clarified its position on the use of 17-206MR ASIC clarifies its position on the 17-206MR restricted terms relating to the independence use of 'independently owned' under s923A of financial advisers after seeking external legal advice on whether phrases such as 'independently owned' are restricted terms under s923A of the Corporations Act (the Act). Section 923A provides that financial service providers can only use certain restricted words and expressions if they do not receive commissions, volume-based payments, or other gifts or benefits, and operate without any conflicts of interest. While words such as 'independent', 'impartial', and 'unbiased' are specified as restricted words in s923A, there was some uncertainty about whether words such as 'independently owned' were also restricted.

Review 18/07/2017 Financial Advisers - Other General media release following ASIC review General media release following ASIC review ASIC visited twenty limited Australian 17-239MR ASIC checks on limited AFS licence 17-239MR Financial Services (AFS) licensees during 2016 experience – 2017 to assess how they were operating under their new licences and to discuss and promote compliance with their AFS licensee obligations. This program followed the removal from 1 July 2016 of the exemption from holding an AFS licence that accountants previously relied upon when giving advice about self-managed super funds (SMSFs). RCD.0015.0003.0374

Public Results & Reports

Review 29/08/2017 Financial Advisers - Compliance & A targeted review of professional indemnity A targeted review of professional indemnity (PI) insurance by The review focused on the adequacy of cover 17-286MR Professional indemnity insurance 17-286MR supervision (PI) insurance by ASIC has found that most ASIC has found that most small companies holding Australian for defence (legal) costs, and fraud and review completed small companies holding Australian financial financial services (AFS) licences had PI insurance that met dishonesty, in the policies offered by two services (AFS) licences had PI insurance that regulatory requirements. insurance companies to small AFS licensees. met regulatory requirements. It followed on from ASIC's Report 459 Professional indemnity insurance market for AFS licensees providing financial product advice, December 2015 (REP 459), which highlighted these as areas of concern.

Review 14/11/2017 Financial Advisers - Compliance & ASIC has updated Regulatory Guide 175 ASIC has updated Regulatory Guide 175 ASIC has updated regulatory guidance to 17-383MR ASIC confirms restricted use of 17-383MR supervision confirm restrictions, that were announced in 'independently owned' in financial services June 2017, on the use of terminology that implies independence.

ASIC has updated Regulatory Guide 175 Licensing Financial product advisers – conduct and disclosure (RG 175), to include guidance that terms such as 'independently owned', 'non-aligned' and 'non-institutionally owned' are restricted under the Corporations Act (the Act). Financial services providers can only use these terms if they meet the requirements set out in s923A of the Act, including that they do not receive commissions, volume-based payments, or other gifts or benefits, and operate without any conflicts of interest.

Review 22/11/2017 Financial Advisers - Compliance & General media release regarding updated General media release regarding updated ASIC guidance The Australian Securities and Investments 17-399MR ASIC delivers on commitment to 17-399MR supervision ASIC guidance regarding limted AFSLs regarding limted AFSLs Commission (ASIC) has today released new help limited AFS licensees understand their webpage guidance and information sheets to obligations help limited Australian Financial Services (AFS) licensees and their representatives understand their key obligations. The new guidance covers the main issues that limited AFS licensees requested additional guidance on. This guidance follows an ASIC visit to limited AFS licensees during 2016–2017 (as explained in 17-239MR ASIC checks on limited AFS licence experience). RCD.0015.0003.0375

Public Results & Reports

Review 7/12/2017 Financial Advisers - Compliance & ASIC Regulatory Guidance ASIC Regulatory Guidance ASIC has updated its guidance on conflicted 17-421MR ASIC updates guidance on 17-421MR supervision remuneration to more closely reflect a range conflicted remuneration of regulatory changes since the guide was issued in 2013. The updated Regulatory Guide 246 Conflicted and other banned remuneration (RG 246), previously titled Conflicted remuneration) now includes guidance on the operation of the incoming life insurance remuneration reforms and additional working examples. The life insurance remuneration reforms, which commence on 1 January 2018, mean remuneration arrangements used in some life insurance distribution channels, including direct sales, will need to change. Other regulatory changes that have impacted on the guidance in RG 246 include •amendments to the grandfathering arrangements for the ban on conflicted remuneration •the exclusion for basic banking products, and •the stamping fee and brokerage exclusions.

Review 7/12/2017 Financial Advisers - Compliance & ASIC Regulatory Guidance ASIC Regulatory Guidance ASIC has released a new example Statement 17-422MR ASIC releases new example 17-422MR supervision of Advice (SOA) for life insurance as part of Statement of Advice for life insurance updates to Regulatory Guide 90 Example Statement of Advice Scaled advice for a new client (RG 90). The example SOA in RG 90 is designed to assist advisers to produce an SOA that is compliant, concise, easy to understand, and written in plain English.

Review 15/12/2017 Financial Advisers - Remediation The banks and AMP licensees charging fees without providing financial advice AMP, ANZ, CBA, NAB and Westpac have now 17-438MR Update on financial advice 17-438MR paid or offered customers $215.9 million of institutions fees-for-no-service refund an estimated $219.5 million in refunds and programs interest for failing to provide general or personal advice to customers while charging them ongoing advice fees. This is an additional $155 million in payments and offers since the ASIC's last public update on the fees-for-no-service project, which provided compensation figures as at 21 April 2017. Surveillance 7/12/2017 Unlicensed financial services/scams Rutherford Franklin Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rutherford- franklin-ltd Surveillance 24/11/2017 Unlicensed financial services/scams Financial Plus HK Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- plus-hk Surveillance 24/11/2017 Unlicensed financial services/scams Financial Plus Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- plus-limited Surveillance 24/11/2017 Unlicensed financial services/scams FTO Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fto-capital RCD.0015.0003.0376

Public Results & Reports

Surveillance 24/11/2017 Unlicensed financial services/scams Nona Marketing Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/nona- marketing-ltd Surveillance 24/11/2017 Unlicensed financial services/scams BNP Forex Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bnp-forex- limited Surveillance 17/11/2017 Unlicensed financial services/scams Elevated Loan Services Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/e/elevated- loan-services Surveillance 17/11/2017 Unlicensed financial services/scams Elevated Financial Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/elevated- financial-services Surveillance 17/11/2017 Unlicensed financial services/scams CF Marketing Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cf- marketing-group-ltd Surveillance 14/11/2017 Unlicensed financial services/scams Securities Regulatory Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/securities- regulatory-commission Surveillance 14/11/2017 Unlicensed financial services/scams Pioneer Equity Acquisition Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pioneer- equity-acquisition Surveillance 14/11/2017 Unlicensed financial services/scams L-V Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/l-v-partners

Surveillance 14/11/2017 Unlicensed financial services/scams FM-FX Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fm-fx Surveillance 30/10/2017 Unlicensed financial services/scams Cooperative Fair Investment Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/cooperative-fair-investment Surveillance 16/10/2017 Unlicensed financial services/scams Stack Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stack- options Surveillance 16/10/2017 Unlicensed financial services/scams StackOptions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/s/stackoptions Surveillance 16/10/2017 Unlicensed financial services/scams Bridge Capital Advisors Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bridge- capital-advisors Surveillance 16/10/2017 Unlicensed financial services/scams Pearl Asia Holdings Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pearl-asia- holdings-limited Surveillance 16/10/2017 Unlicensed financial services/scams Imperial Equity Holdings Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/imperial- equity-holdings Surveillance 16/10/2017 Unlicensed financial services/scams Hamilton Wealth Advisors Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hamilton- wealth-advisors Surveillance 16/10/2017 Unlicensed financial services/scams Jacob Morgan Investment House Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jacob- morgan-investment-house RCD.0015.0003.0377

Public Results & Reports

Surveillance 25/09/2017 Unlicensed financial services/scams Cathay DuPont Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cathay- dupont-limited Surveillance 25/09/2017 Unlicensed financial services/scams Empire Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/empire- capital-partners Surveillance 25/09/2017 Unlicensed financial services/scams Orion Solutions SRL Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/orion- solutions-srl Surveillance 25/09/2017 Unlicensed financial services/scams WMoption Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wmoption

Surveillance 25/09/2017 Unlicensed financial services/scams Prime CFDs Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prime-cfds

Surveillance 25/09/2017 Unlicensed financial services/scams QMC Element Parisey Index LLP Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/q/qmc- element-parisey-index-llp Surveillance 25/09/2017 Unlicensed financial services/scams Koenig Rowe – Campbell Alliance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/koenig- rowe-campbell-alliance Surveillance 25/09/2017 Unlicensed financial services/scams JJ Matthias Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jj-matthias- asset-management Surveillance 25/09/2017 Unlicensed financial services/scams Reinhard Hofer Venture Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/reinhard- hofer-venture-partners Surveillance 25/09/2017 Unlicensed financial services/scams Reinhard Hofer International also known as Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Reinhard Hofer Venture Partners an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/reinhard- hofer-international-also-known-as-reinhard- hofer-venture-partners

Surveillance 25/09/2017 Unlicensed financial services/scams Royce Equity Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/royce- equity-management Surveillance 21/08/2017 Unlicensed financial services/scams World Trade Commodities Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/world- trade-commodities-exchange Surveillance 21/08/2017 Unlicensed financial services/scams Royal State Global Financial Solutions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/royal-state- global-financial-solutions Surveillance 21/08/2017 Unlicensed financial services/scams Wealth Management Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wealth- management-group-ltd Surveillance 21/08/2017 Unlicensed financial services/scams Eduard Steinbach PLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/eduard- steinbach-plc Surveillance 21/08/2017 Unlicensed financial services/scams Spencer Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/spencer- capital-partners RCD.0015.0003.0378

Public Results & Reports

Surveillance 20/07/2017 Unlicensed financial services/scams London Capital Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/london- capital-group Surveillance 20/07/2017 Unlicensed financial services/scams Epic Ventures Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/epic- ventures-ltd Surveillance 20/07/2017 Unlicensed financial services/scams 72Option Also known as Epic Ventures Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/0-9/72option- also-known-as-epic-ventures-ltd

Surveillance 20/07/2017 Unlicensed financial services/scams Abridge Enterprises Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/abridge- enterprises Surveillance 14/07/2017 Unlicensed financial services/scams Clear VX Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/clear-vx-ltd

Surveillance 14/07/2017 Unlicensed financial services/scams VX Markets also known as Clear VX Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vx-markets- also-known-as-clear-vx-ltd Surveillance 14/07/2017 Unlicensed financial services/scams Wallberg Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wallberg- ltd Surveillance 14/07/2017 Unlicensed financial services/scams Millennium Options also known as Wallberg Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Ltd an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/m/millennium-options-also-known-as- wallberg-ltd Surveillance 14/07/2017 Unlicensed financial services/scams ARAM Wealth Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aram- wealth-management-ltd Surveillance 14/07/2017 Unlicensed financial services/scams ARAM Binary Options also known as ARAM Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Wealth Management Ltd an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aram- binary-options-also-known-as-aram-wealth- management-ltd Surveillance 14/07/2017 Unlicensed financial services/scams Plustocks Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/plustocks

Surveillance 14/07/2017 Unlicensed financial services/scams Standard Fidelity Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/standard- fidelity-ltd Surveillance 14/07/2017 Unlicensed financial services/scams Arya Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/arya-group- ltd Surveillance 14/07/2017 Unlicensed financial services/scams IvoryOption also known as Arya Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/ivoryoption- also-known-as-arya-group-ltd

Surveillance 14/07/2017 Unlicensed financial services/scams OB Capital Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/ob-capital- limited RCD.0015.0003.0379

Public Results & Reports

Surveillance 14/07/2017 Unlicensed financial services/scams BBB Markets also known as OB Capital Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bbb- markets-also-known-as-ob-capital-limited

Surveillance 29/06/2017 Unlicensed financial services/scams Chemmi Holdings Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chemmi- holdings-ltd Surveillance 13/06/2017 Unlicensed financial services/scams Campbell Investments Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/campbell- investments-limited Surveillance 2/06/2017 Unlicensed financial services/scams The International Regulatory Panel of Trade Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/the- international-regulatory-panel-of-trade Surveillance 2/06/2017 Unlicensed financial services/scams The International Board of Trade Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/the- international-board-of-trade-commission

Surveillance 2/06/2017 Unlicensed financial services/scams The Futures Exchange Securities Regulator Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/the-futures- exchange-securities-regulator Surveillance 2/06/2017 Unlicensed financial services/scams Prudential Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prudential- regulatory-board Surveillance 2/06/2017 Unlicensed financial services/scams Office of Financial Affairs Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/office-of- financial-affairs Surveillance 2/06/2017 Unlicensed financial services/scams Inter-global Financial Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/inter-global- financial-regulatory-board Surveillance 2/06/2017 Unlicensed financial services/scams Global Regulatory Authority Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- regulatory-authority Surveillance 2/06/2017 Unlicensed financial services/scams Federal Assurance Regulatory Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/federal- assurance-regulatory-commission

Surveillance 2/06/2017 Unlicensed financial services/scams Financial Assurance Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- assurance-regulatory-board

Surveillance 2/06/2017 Unlicensed financial services/scams East West Financial & Securities Compliance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/east-west- financial-securities-compliance Surveillance 2/06/2017 Unlicensed financial services/scams Commonwealth Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/commonwealth-regulatory-board Surveillance 2/06/2017 Unlicensed financial services/scams Commission on Financial and Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Compliance an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/commission-on-financial-and-securities- compliance RCD.0015.0003.0380

Public Results & Reports

Surveillance 2/06/2017 Unlicensed financial services/scams Bureau of Financial Services Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bureau-of- financial-services-board Surveillance 2/06/2017 Unlicensed financial services/scams Alliance Financial Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/alliance- financial-regulatory-board

Surveillance 2/06/2017 Unlicensed financial services/scams Trade 12 Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trade-12

Surveillance 2/06/2017 Unlicensed financial services/scams Maxi Services Belize Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/maxi- services-belize-ltd Surveillance 9/05/2017 Unlicensed financial services/scams Libor Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/libor-capital

Surveillance 9/05/2017 Unlicensed financial services/scams Aaoption Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aaoption

Surveillance 9/05/2017 Unlicensed financial services/scams Pacific Sunrise UK Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pacific- sunrise-uk-ltd Surveillance 9/05/2017 Unlicensed financial services/scams CFD Stocks Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cfd-stocks

Surveillance 9/05/2017 Unlicensed financial services/scams 365BinaryOption Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/0- 9/365binaryoption Surveillance 9/05/2017 Unlicensed financial services/scams Oproserv Limited t/a 365BinaryOption Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/oproserv- limited-ta-365binaryoption

Surveillance 9/05/2017 Unlicensed financial services/scams Pearson Investments / Pearson Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co LLC an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pearson- investments-pearson-investments-llc

Surveillance 27/04/2017 Unlicensed financial services/scams Tain Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tain-capital

Surveillance 27/04/2017 Unlicensed financial services/scams Hedgestone Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/h/hedgestone-group Surveillance 27/04/2017 Unlicensed financial services/scams GN Capital Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gn-capital- ltd Surveillance 27/04/2017 Unlicensed financial services/scams PWRTrade also known as GN Capital Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pwrtrade- also-known-as-gn-capital-ltd RCD.0015.0003.0381

Public Results & Reports

Surveillance 27/04/2017 Unlicensed financial services/scams A.I.M. Corporation Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aim- corporation-limited Surveillance 31/03/2017 Unlicensed financial services/scams UMarkets Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/umarkets

Surveillance 31/03/2017 Unlicensed financial services/scams PlusOption Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/plusoption

Surveillance 31/03/2017 Unlicensed financial services/scams Safe Mark Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/safe-mark- limited Surveillance 31/03/2017 Unlicensed financial services/scams MBA Capital Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mba- capital-limited Surveillance 17/03/2017 Unlicensed financial services/scams Capital Strategy Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- strategy-partners Surveillance 17/03/2017 Unlicensed financial services/scams Amber Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/amber- capital-partners Surveillance 2/03/2017 Unlicensed financial services/scams Futures Trading Standards Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/futures- trading-standards-commission

Surveillance 2/03/2017 Unlicensed financial services/scams Fastcash Biz Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fastcash-biz

Surveillance 2/03/2017 Unlicensed financial services/scams Binary Uno Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/binary-uno

Surveillance 17/02/2017 Unlicensed financial services/scams Yamanashi Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/y/yamanashi- asset-management Surveillance 10/02/2017 Unlicensed financial services/scams Empire Asset Investments LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/empire- asset-investments-llc Surveillance 10/02/2017 Unlicensed financial services/scams MCF Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mcf- consultants Surveillance 10/02/2017 Unlicensed financial services/scams EDI International Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/edi- international-limited Surveillance 23/01/2017 Unlicensed financial services/scams Oak Harbour Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/oak- harbour-limited Surveillance 13/01/2017 Unlicensed financial services/scams Hampshire Capital Ventures Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hampshire- capital-ventures-ltd RCD.0015.0003.0382

Public Results & Reports

Surveillance 13/01/2017 Unlicensed financial services/scams Magnum Options (also known as Hampshire Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Capital Ventures Ltd) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/magnum- options-also-known-as-hampshire-capital- ventures-ltd Surveillance 16/12/2016 Unlicensed financial services/scams Boston Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/boston- mergers-and-acquisitions-board

Surveillance 16/12/2016 Unlicensed financial services/scams United States Trading Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/united- states-trading-commission Surveillance 16/12/2016 Unlicensed financial services/scams Apollo Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/apollo- asset-management Surveillance 16/12/2016 Unlicensed financial services/scams Welch Burton Mergers & Acquisitions Inc. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/welch- burton-mergers-acquisitions-inc

Surveillance 16/12/2016 Unlicensed financial services/scams Prowex Solutions & Services Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (trading as Prowexinvest) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prowex- solutions-services-corporation-trading-as- prowexinvest Surveillance 16/12/2016 Unlicensed financial services/scams Prowexinvest Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/p/prowexinvest Surveillance 16/12/2016 Unlicensed financial services/scams Capital Trust Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- trust-management Surveillance 8/12/2016 Unlicensed financial services/scams Imperial Trade Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/imperial- trade-management-limited

Surveillance 8/12/2016 Unlicensed financial services/scams Rock Smith Options Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rock-smith- options-limited Surveillance 8/12/2016 Unlicensed financial services/scams Kaufman Franz Wealth Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kaufman- franz-wealth-management

Surveillance 25/11/2016 Unlicensed financial services/scams Locker Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/locker- capital-management Surveillance 25/11/2016 Unlicensed financial services/scams Locker Global Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/locker- global-management Surveillance 14/11/2016 Unlicensed financial services/scams Secured Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/secured- options Surveillance 14/11/2016 Unlicensed financial services/scams Urbanix Limited t/a Secured Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/urbanix- limited-ta-secured-options RCD.0015.0003.0383

Public Results & Reports

Surveillance 31/10/2016 Unlicensed financial services/scams Trade 24 Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trade-24

Surveillance 26/09/2016 Unlicensed financial services/scams Lead Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lead-capital- partners Surveillance 19/09/2016 Unlicensed financial services/scams One Two Trade Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/one-two- trade Surveillance 19/09/2016 Unlicensed financial services/scams Up and Down Marketing Limited t/a One Two Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Trade an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/up-and- down-marketing-limited-ta-one-two-trade

Surveillance 19/09/2016 Unlicensed financial services/scams SwissFX Pro Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/swissfx-pro

Surveillance 19/09/2016 Unlicensed financial services/scams LM Swiss Direct Ltd (LM Swiss) also known as Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co SwissFX Pro an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lm-swiss- direct-ltd-lm-swiss-also-known-as-swissfx-pro

Surveillance 19/09/2016 Unlicensed financial services/scams Asset Castle Investments Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asset- castle-investments-ltd Surveillance 19/09/2016 Unlicensed financial services/scams AMC International (HK) Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/amc- international-hk-limited Surveillance 16/09/2016 Unlicensed financial services/scams International Offshore Financial Markets Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Regulators (IOFMR) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-offshore-financial-markets- regulators-iofmr Surveillance 31/08/2016 Unlicensed financial services/scams Labanna Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/labanna- capital-management Surveillance 31/08/2016 Unlicensed financial services/scams Ashton Cole Global Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/ashton- cole-global-investments Surveillance 3/08/2016 Unlicensed financial services/scams Intercontintental Financial Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/intercontintental-financial-regulatory- board Surveillance 3/08/2016 Unlicensed financial services/scams Arista Capital Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/arista- capital-ventures Surveillance 3/08/2016 Unlicensed financial services/scams Tooptions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tooptions

Surveillance 3/08/2016 Unlicensed financial services/scams HongKong Tooptions Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hongkong- tooptions-ltd RCD.0015.0003.0384

Public Results & Reports

Surveillance 21/07/2016 Unlicensed financial services/scams OptionRally Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/optionrally

Surveillance 22/06/2016 Unlicensed financial services/scams Omni Capital Ltd / Omni Global Solutions SRL Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/omni- capital-ltd-omni-global-solutions-srl Surveillance 22/06/2016 Unlicensed financial services/scams Zulutoys Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/z/zulutoys- limited Surveillance 22/06/2016 Unlicensed financial services/scams CIT Investments Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cit- investments-ltd Surveillance 22/06/2016 Unlicensed financial services/scams Changecapital SM Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/changecapital-sm-ltd Surveillance 22/06/2016 Unlicensed financial services/scams Cheshire Capital Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cheshire- capital-ltd Surveillance 22/06/2016 Unlicensed financial services/scams Oracle Stone Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/oracle- stone-limited Surveillance 22/06/2016 Unlicensed financial services/scams Go Trading Technologies Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/go-trading- technologies-ltd Surveillance 22/06/2016 Unlicensed financial services/scams OptionsXO Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/optionsxo

Surveillance 22/06/2016 Unlicensed financial services/scams RBoptions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rboptions

Surveillance 22/06/2016 Unlicensed financial services/scams Citrades Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/citrades

Surveillance 22/06/2016 Unlicensed financial services/scams Bloombex Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bloombex- options Surveillance 22/06/2016 Unlicensed financial services/scams Max Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/max- options Surveillance 22/06/2016 Unlicensed financial services/scams Boss Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/boss- capital Surveillance 22/06/2016 Unlicensed financial services/scams Porter Finance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/porter- finance Surveillance 22/06/2016 Unlicensed financial services/scams GOptions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goptions RCD.0015.0003.0385

Public Results & Reports

Surveillance 16/06/2016 Unlicensed financial services/scams Taylor Made Mergers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/taylor- made-mergers Surveillance 16/06/2016 Unlicensed financial services/scams Pacific Alliances Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pacific- alliances Surveillance 2/06/2016 Unlicensed financial services/scams Lawton and Yeung Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lawton-and- yeung Surveillance 17/05/2016 Unlicensed financial services/scams FM Trader Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fm-trader

Surveillance 17/05/2016 Unlicensed financial services/scams RTG Direct Trading Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rtg-direct- trading-ltd Surveillance 17/05/2016 Unlicensed financial services/scams Top Ten Binary Brokers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/top-ten- binary-brokers Surveillance 11/05/2016 Unlicensed financial services/scams PFM Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pfm- trading Surveillance 20/04/2016 Unlicensed financial services/scams Ubinary Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/ubinary

Surveillance 20/04/2016 Unlicensed financial services/scams Tilney Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tilney-asset- management Surveillance 20/04/2016 Unlicensed financial services/scams International Center for Fraud Examiner Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-center-for-fraud-examiner

Surveillance 16/03/2016 Unlicensed financial services/scams Ridgeway Group LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/ridgeway- group-llc Surveillance 16/03/2016 Unlicensed financial services/scams JJ Bauer Asset Management / JJ Bauer Equity Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Research an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jj-bauer- asset-management-jj-bauer-equity-research

Surveillance 16/03/2016 Unlicensed financial services/scams Avesta Capital Advisors LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/avesta- capital-advisors-llc Surveillance 4/03/2016 Unlicensed financial services/scams Axis Capital Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/axis-capital- group Surveillance 25/02/2016 Unlicensed financial services/scams Option 500 Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/option-500

Surveillance 1/02/2016 Unlicensed financial services/scams Stronghold Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stronghold- capital-partners RCD.0015.0003.0386

Public Results & Reports

Surveillance 1/02/2016 Unlicensed financial services/scams Stronghold Mergers & Acquisitions Regulatory Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Board an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stronghold- mergers-acquisitions-regulatory-board

Surveillance 1/02/2016 Unlicensed financial services/scams Patience Providence Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/patience- providence Surveillance 1/02/2016 Unlicensed financial services/scams Pointe Capital Partners Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pointe- capital-partners-inc Surveillance 1/02/2016 Unlicensed financial services/scams KFM Investment Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kfm- investment-group Surveillance 29/01/2016 Unlicensed financial services/scams Global M & A Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global-m-a- commission Surveillance 29/01/2016 Unlicensed financial services/scams The Financial & Regulatory Oversight Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/the- financial-regulatory-oversight-board Surveillance 29/01/2016 Unlicensed financial services/scams National Financial Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/national- financial-commission Surveillance 11/12/2015 Unlicensed financial services/scams Lau Global Services Corporation, MXTrade Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lau-global- services-corporation-mxtrade Surveillance 11/12/2015 Unlicensed financial services/scams Steam Takeovers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/steam- takeovers Surveillance 11/12/2015 Unlicensed financial services/scams Global Sun Solutions (GSS) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global-sun- solutions-gss Surveillance 25/11/2015 Unlicensed financial services/scams Astra Group Pty Ltd t/a Investra Direct Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/astra- group-pty-ltd-ta-investra-direct Surveillance 11/11/2015 Unlicensed financial services/scams Overseas Holding Compensation Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/overseas- holding-compensation-commission

Surveillance 11/11/2015 Unlicensed financial services/scams National Compliance Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/national- compliance-regulatory-board

Surveillance 21/10/2015 Unlicensed financial services/scams Steinberg Private Equity Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/steinberg- private-equity Surveillance 21/10/2015 Unlicensed financial services/scams Spot Capital Markets Ltd t/a Milano Trade Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/spot- capital-markets-ltd-ta-milano-trade Surveillance 21/10/2015 Unlicensed financial services/scams LFG Investments Ltd t/a OptionRally Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lfg- investments-ltd-ta-optionrally RCD.0015.0003.0387

Public Results & Reports

Surveillance 21/10/2015 Unlicensed financial services/scams Alliance Financial Advisory Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/alliance- financial-advisory Surveillance 20/10/2015 Unlicensed financial services/scams Graphene Sensors Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/graphene- sensors-inc Surveillance 20/10/2015 Unlicensed financial services/scams Fund Access Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fund-access limited Surveillance 6/10/2015 Unlicensed financial services/scams Regional Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/regional- regulatory-board Surveillance 6/10/2015 Unlicensed financial services/scams Beacon Commodities and Futures Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (BCFX) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/beacon- commodities-and-futures-exchange-bcfx

Surveillance 6/10/2015 Unlicensed financial services/scams Celivox Alliance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/celivox- alliance Surveillance 6/10/2015 Unlicensed financial services/scams Osborn & McKenzie International (O&MI) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/osborn- mckenzie-international-omi

Surveillance 28/09/2015 Unlicensed financial services/scams DLM Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dlm- limited Surveillance 15/09/2015 Unlicensed financial services/scams Parnassus Group LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/parnassus- group-llc Surveillance 14/09/2015 Unlicensed financial services/scams Larosa Holdings Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/larosa- holdings-limited Surveillance 14/09/2015 Unlicensed financial services/scams AEG Investment Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aeg- investment-limited Surveillance 14/09/2015 Unlicensed financial services/scams Admiral Global Private Equity Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/admiral- global-private-equity Surveillance 28/08/2015 Unlicensed financial services/scams Maxim Capital Ltd / Maxim Trader / Maxim Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Traders an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/maxim- capital-ltd-maxim-trader-maxim-traders

Surveillance 28/08/2015 Unlicensed financial services/scams Lifex Pharmaceuticals Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lifex- pharmaceuticals-inc Surveillance 28/08/2015 Unlicensed financial services/scams Universal Equities Consolidated LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/universal- equities-consolidated-llc RCD.0015.0003.0388

Public Results & Reports

Surveillance 28/08/2015 Unlicensed financial services/scams GSI Markets Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gsi- markets Surveillance 28/08/2015 Unlicensed financial services/scams Callaway International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/callaway- international Surveillance 28/08/2015 Unlicensed financial services/scams Belmont Capital Holdings New York/ Belmont Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Capital NY an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/belmont- capital-holdings-new-york-belmont-capital-ny

Surveillance 28/08/2015 Unlicensed financial services/scams DW Consultants Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dw- consultants-limited Surveillance 7/08/2015 Unlicensed financial services/scams Integrated Financial Regulatory Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/integrated- financial-regulatory-board

Surveillance 7/08/2015 Unlicensed financial services/scams Powell Financial Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/powell- financial-services Surveillance 31/07/2015 Unlicensed financial services/scams PHG Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/phg- trading Surveillance 31/07/2015 Unlicensed financial services/scams Gateway International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gateway- international Surveillance 28/07/2015 Unlicensed financial services/scams GT Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gt-options

Surveillance 20/07/2015 Unlicensed financial services/scams Tradersking Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tradersking

Surveillance 20/07/2015 Unlicensed financial services/scams Beeoptions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/beeoptions

Surveillance 15/07/2015 Unlicensed financial services/scams Bluefield Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bluefield- partners Surveillance 17/06/2015 Unlicensed financial services/scams Fraser-Mackie Wealth Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fraser- mackie-wealth-management-ltd Surveillance 16/06/2015 Unlicensed financial services/scams Resona International Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/resona- international-management Surveillance 16/06/2015 Unlicensed financial services/scams Christian Muhr Investment Research Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/christian- muhr-investment-research RCD.0015.0003.0389

Public Results & Reports

Surveillance 15/06/2015 Unlicensed financial services/scams Department of Securities Liquidations Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/d/department-of-securities-liquidations

Surveillance 15/06/2015 Unlicensed financial services/scams Benson Walter Private Equity Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/benson- walter-private-equity Surveillance 9/06/2015 Unlicensed financial services/scams Trident Fund Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trident- fund-inc Surveillance 9/06/2015 Unlicensed financial services/scams Branford Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/branford- capital-management Surveillance 9/06/2015 Unlicensed financial services/scams Sure Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sure- mergers-and-acquisitions Surveillance 9/06/2015 Unlicensed financial services/scams First Global Commodities and Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Exchange an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-global- commodities-and-futures-exchange

Surveillance 9/06/2015 Unlicensed financial services/scams Option Financial Markets (OptionFM) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/option- financial-markets-optionfm Surveillance 6/05/2015 Unlicensed financial services/scams Silver Ridge Resources Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/silver-ridge- resources Surveillance 6/05/2015 Unlicensed financial services/scams James Carter Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/james- carter Surveillance 5/05/2015 Unlicensed financial services/scams Alliance Group Tokyo, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/alliance- group-tokyo-the Surveillance 23/04/2015 Unlicensed financial services/scams Quick Loan Services Pty Ltd Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/q/quick-loan- services-pty-ltd Surveillance 23/04/2015 Unlicensed financial services/scams Private Lending Pty Ltd Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/p/private- lending-pty-ltd Surveillance 15/04/2015 Unlicensed financial services/scams Richards and Company Future Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Merchant (RCFCM) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/richards- and-company-future-commission-merchant- rcfcm Surveillance 15/04/2015 Unlicensed financial services/scams Hinsley Ford Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hinsley- ford Surveillance 15/04/2015 Unlicensed financial services/scams Banc De Binary Ltd / BDB Services Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/banc-de- binary-ltd-bdb-services-ltd Surveillance 2/04/2015 Unlicensed financial services/scams Oracle Mergers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/oracle- mergers RCD.0015.0003.0390

Public Results & Reports

Surveillance 1/04/2015 Unlicensed financial services/scams Central Finance Regulatory Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/central- finance-regulatory-commission

Surveillance 1/04/2015 Unlicensed financial services/scams Century Insight Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/century- insight-inc Surveillance 31/03/2015 Unlicensed financial services/scams MHGG Tech Solutions Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mhgg- tech-solutions-limited Surveillance 31/03/2015 Unlicensed financial services/scams NRG Capital (Cyprus) Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/nrg-capital- cyprus-limited Surveillance 24/03/2015 Unlicensed financial services/scams Jacob and Richardson Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jacob-and- richardson-associates Surveillance 12/03/2015 Unlicensed financial services/scams DSR Wealth Management Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dsr-wealth- management-group Surveillance 12/03/2015 Unlicensed financial services/scams Crenshaw Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/crenshaw- asset-management Surveillance 12/03/2015 Unlicensed financial services/scams CLC Acquisition Corp Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/clc- acquisition-corp Surveillance 12/03/2015 Unlicensed financial services/scams Eco Investment Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/eco- investment-group Surveillance 12/03/2015 Unlicensed financial services/scams Ecovexco Investment Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/ecovexco- investment-group Surveillance 10/03/2015 Unlicensed financial services/scams B. O. Technologies Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/b-o- technologies-limited Surveillance 4/03/2015 Unlicensed financial services/scams Patterson Harvey Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/patterson- harvey Surveillance 25/02/2015 Unlicensed financial services/scams Liberty Venture Holdings Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/liberty- venture-holdings Surveillance 25/02/2015 Unlicensed financial services/scams Netotrade UK Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/netotrade- uk-ltd Surveillance 25/02/2015 Unlicensed financial services/scams Netotrade Global Investments Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/netotrade- global-investments-ltd Surveillance 29/01/2015 Unlicensed financial services/scams Shimbashi & Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shimbashi- partners RCD.0015.0003.0391

Public Results & Reports

Surveillance 29/01/2015 Unlicensed financial services/scams National Finance Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/national- finance-commission Surveillance 29/01/2015 Unlicensed financial services/scams Midal Consulting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/midal- consulting Surveillance 21/01/2015 Unlicensed financial services/scams Gateway Mercantile Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gateway- mercantile-exchange Surveillance 21/01/2015 Unlicensed financial services/scams Sheffield Global Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sheffield- global-investments Surveillance 20/01/2015 Unlicensed financial services/scams Geo Survey Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/geo-survey- management-ltd Surveillance 8/01/2015 Unlicensed financial services/scams DFA Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dfa- management-limited Surveillance 10/12/2014 Unlicensed financial services/scams Carter Jones Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/carter- jones-capital Surveillance 2/12/2014 Unlicensed financial services/scams Myers & Baker Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/myers- baker-associates Surveillance 1/12/2014 Unlicensed financial services/scams Dial Mergers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dial- mergers Surveillance 25/11/2014 Unlicensed financial services/scams Phoenix Creek Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/phoenix- creek-capital Surveillance 20/11/2014 Unlicensed financial services/scams Timmermans-Grantt Solutions (TGS) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/t/timmermans-grantt-solutions-tgs Surveillance 20/11/2014 Unlicensed financial services/scams Holper Global Investment Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/holper- global-investment-group Surveillance 20/11/2014 Unlicensed financial services/scams Union Options UK Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/union- options-uk-ltd Surveillance 11/11/2014 Unlicensed financial services/scams China International Capital Holdings Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/china- international-capital-holdings Surveillance 31/10/2014 Unlicensed financial services/scams Atlas Asia Investment Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/atlas-asia- investment-partners Surveillance 31/10/2014 Unlicensed financial services/scams Arcadia Capital Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/arcadia- capital-associates RCD.0015.0003.0392

Public Results & Reports

Surveillance 31/10/2014 Unlicensed financial services/scams Live Binary Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/live-binary

Surveillance 31/10/2014 Unlicensed financial services/scams WBlake Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wblake

Surveillance 31/10/2014 Unlicensed financial services/scams Board of Securities Trading Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/board-of- securities-trading-commission Surveillance 28/10/2014 Unlicensed financial services/scams Aura Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aura- mergers-and-acquisitions Surveillance 28/10/2014 Unlicensed financial services/scams HK Equity Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hk-equity

Surveillance 28/10/2014 Unlicensed financial services/scams Carson Fitch Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/carson- fitch Surveillance 20/10/2014 Unlicensed financial services/scams Kingston Financial Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kingston- financial-group Surveillance 17/10/2014 Unlicensed financial services/scams Xinjiang Mining Group Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/x/xinjiang- mining-group Surveillance 15/10/2014 Unlicensed financial services/scams Total Access Trading Services Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/total-access trading-services-limited Surveillance 15/10/2014 Unlicensed financial services/scams Triple A Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/triple-a- options Surveillance 15/10/2014 Unlicensed financial services/scams Reach Wealth Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/reach- wealth-management Surveillance 9/10/2014 Unlicensed financial services/scams Jones Venture Source Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jones- venture-source Surveillance 8/10/2014 Unlicensed financial services/scams Shepherds Hill Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shepherds- hill-partners Surveillance 25/09/2014 Unlicensed financial services/scams Evan Thompson Advisory Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/evan- thompson-advisory Surveillance 18/09/2014 Unlicensed financial services/scams FiFx Global Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fifx-global

Surveillance 18/09/2014 Unlicensed financial services/scams FiFx Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fifx Surveillance 16/09/2014 Unlicensed financial services/scams First Forex Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-forex RCD.0015.0003.0393

Public Results & Reports

Surveillance 12/08/2014 Unlicensed financial services/scams Department of Global Market Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/d/department-of-global-market- acquisitions Surveillance 12/08/2014 Unlicensed financial services/scams Firkin Asset Consultants Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/firkin-asset- consultants-ltd Surveillance 11/08/2014 Unlicensed financial services/scams Chesworth & Capehart Consulting Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chesworth- capehart-consulting-group

Surveillance 11/08/2014 Unlicensed financial services/scams TradersRoom Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/t/tradersroom Surveillance 25/07/2014 Unlicensed financial services/scams Beacon Hill Regulatory Trade Commission, Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co The an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/beacon-hill- regulatory-trade-commission

Surveillance 25/07/2014 Unlicensed financial services/scams Aries Ventures Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aries- ventures-inc Surveillance 25/07/2014 Unlicensed financial services/scams Department of International Financial Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/d/department-of-international-financial- trading Surveillance 25/07/2014 Unlicensed financial services/scams Quantum Private Equity LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/q/quantum- private-equity-llc Surveillance 18/07/2014 Unlicensed financial services/scams Edward Banks Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/edward- banks-acquisitions Surveillance 4/07/2014 Unlicensed financial services/scams Definitive Exchange Trading System Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/definitive- exchange-trading-system-ltd

Surveillance 4/07/2014 Unlicensed financial services/scams Sinclair Capital Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sinclair- capital-management-limited

Surveillance 27/06/2014 Unlicensed financial services/scams Committee of Regulation and Liquidation on Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Private Ventures an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/committee- of-regulation-and-liquidation-on-private- ventures Surveillance 27/06/2014 Unlicensed financial services/scams Caltherm Co. Private Equity LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/caltherm- co-private-equity-llc Surveillance 23/06/2014 Unlicensed financial services/scams Hirsche Private Asset Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hirsche- private-asset-management-ltd RCD.0015.0003.0394

Public Results & Reports

Surveillance 23/06/2014 Unlicensed financial services/scams The Law office of Michael Johnson Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/the-law- office-of-michael-johnson Surveillance 5/06/2014 Unlicensed financial services/scams Stellar Worldwide LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stellar- worldwide-llc Surveillance 5/05/2014 Unlicensed financial services/scams Rich Futures Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rich-futures limited Surveillance 2/05/2014 Unlicensed financial services/scams Integrated Dynamic Solutions Group (IDS) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/integrated- dynamic-solutions-group-ids

Surveillance 1/04/2014 Unlicensed financial services/scams Token Financial Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/token- financial Surveillance 1/04/2014 Unlicensed financial services/scams Knight & Bradshaw Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/knight- bradshaw Surveillance 1/04/2014 Unlicensed financial services/scams Capital Eurasia Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- eurasia Surveillance 1/04/2014 Unlicensed financial services/scams Aurum International Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aurum- international-management Surveillance 1/04/2014 Unlicensed financial services/scams Alpha Takeovers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/alpha- takeovers Surveillance 28/02/2014 Unlicensed financial services/scams M6 Trading Group Pty Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/m6- trading-group-pty-ltd Surveillance 28/02/2014 Unlicensed financial services/scams Global Metal and Commodities Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- metal-and-commodities-exchange Surveillance 28/02/2014 Unlicensed financial services/scams Nomura Financial Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/nomura- financial Surveillance 28/02/2014 Unlicensed financial services/scams Hanson Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hanson- commodities Surveillance 28/02/2014 Unlicensed financial services/scams Harbour Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/harbour- acquisitions Surveillance 28/02/2014 Unlicensed financial services/scams First World Registrars Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-world- registrars Surveillance 16/01/2014 Unlicensed financial services/scams Westhill Consulting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/westhill- consulting RCD.0015.0003.0395

Public Results & Reports

Surveillance 16/01/2014 Unlicensed financial services/scams Western Trust Company Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/western- trust-company Surveillance 16/01/2014 Unlicensed financial services/scams Shenzhen Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shenzhen- capital-management Surveillance 16/01/2014 Unlicensed financial services/scams FM Ventures Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fm- ventures-inc Surveillance 16/01/2014 Unlicensed financial services/scams Campbell Global Network Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/campbell- global-network Surveillance 16/01/2014 Unlicensed financial services/scams Cadell Acton Group International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cadell- acton-group-international Surveillance 16/01/2014 Unlicensed financial services/scams Asset Cap Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asset-cap- management Surveillance 9/01/2014 Unlicensed financial services/scams Urban Rock Trading Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/urban-rock- trading-limited Surveillance 7/01/2014 Unlicensed financial services/scams Banc 54 Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/banc-54- limited Surveillance 7/01/2014 Unlicensed financial services/scams International Association for Investor Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Protection an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-association-for-investor- protection Surveillance 6/12/2013 Unlicensed financial services/scams International Medical Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-medical-ventures Surveillance 6/12/2013 Unlicensed financial services/scams Dupont Securities AG Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dupont- securities-ag Surveillance 3/12/2013 Unlicensed financial services/scams JDZ Forensics Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jdz- forensics-inc Surveillance 15/11/2013 Unlicensed financial services/scams BankDirect FX Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bankdirect- fx Surveillance 15/11/2013 Unlicensed financial services/scams PrimeFundFX Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/p/primefundfx Surveillance 15/11/2013 Unlicensed financial services/scams Asset Mergers & Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asset- mergers-acquisitions Surveillance 12/11/2013 Unlicensed financial services/scams Imperial Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/imperial- acquisitions RCD.0015.0003.0396

Public Results & Reports

Surveillance 12/11/2013 Unlicensed financial services/scams Association For Certified Financial Crime Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Examiners an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/association- for-certified-financial-crime-examiners

Surveillance 6/11/2013 Unlicensed financial services/scams Conquest Trading Technologies Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/conquest- trading-technologies-limited

Surveillance 6/11/2013 Unlicensed financial services/scams United Kingdom Commodity Derivatives Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Association an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/united- kingdom-commodity-derivatives-association

Surveillance 15/10/2013 Unlicensed financial services/scams Asia World Capital Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asia-world- capital-group Surveillance 14/10/2013 Unlicensed financial services/scams Forest City Basin Resources Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/forest-city- basin-resources-ltd Surveillance 14/10/2013 Unlicensed financial services/scams Capital Consultants Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- consultants-management-ltd

Surveillance 3/10/2013 Unlicensed financial services/scams Moer Futures Index Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/moer- futures-index Surveillance 26/09/2013 Unlicensed financial services/scams Financial Services Regulatory Authority of Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Belgium an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- services-regulatory-authority-of-belgium

Surveillance 24/09/2013 Unlicensed financial services/scams Bureau of Financial Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bureau-of- financial-trading Surveillance 24/09/2013 Unlicensed financial services/scams Cover Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cover- capital-partners Surveillance 24/09/2013 Unlicensed financial services/scams Asset Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asset- capital-management Surveillance 19/09/2013 Unlicensed financial services/scams SCFS Trading Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/scfs-trading limited Surveillance 17/09/2013 Unlicensed financial services/scams Xinda Management Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/x/xinda- management-group Surveillance 12/09/2013 Unlicensed financial services/scams WellBank Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wellbank- consultants Surveillance 6/09/2013 Unlicensed financial services/scams PrivateFX Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/privatefx RCD.0015.0003.0397

Public Results & Reports

Surveillance 5/09/2013 Unlicensed financial services/scams Saba Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/saba- capital-management Surveillance 5/09/2013 Unlicensed financial services/scams Simpson & Greene Mergers And Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Inc an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/simpson- greene-mergers-and-acquisitions-inc

Surveillance 3/09/2013 Unlicensed financial services/scams United Kingdom Managed Futures Association Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/united- kingdom-managed-futures-association

Surveillance 3/09/2013 Unlicensed financial services/scams Trade Fire Online Trading Systems UK Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trade-fire- online-trading-systems-uk-limited Surveillance 3/09/2013 Unlicensed financial services/scams Marcus Tiller Associates Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/marcus- tiller-associates-ltd Surveillance 2/09/2013 Unlicensed financial services/scams Mike Morgan Loans Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mike- morgan-loans Surveillance 27/08/2013 Unlicensed financial services/scams Investing Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/investing- futures Surveillance 22/08/2013 Unlicensed financial services/scams Campton Hays Morrison Incorporated Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/campton- hays-morrison-incorporated

Surveillance 21/08/2013 Unlicensed financial services/scams Madley Capital Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/madley- capital-management-limited

Surveillance 20/08/2013 Unlicensed financial services/scams R&G Securities & Transfers Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rg- securities-transfers-inc Surveillance 20/08/2013 Unlicensed financial services/scams Paulson Management LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/paulson- management-llc Surveillance 19/08/2013 Unlicensed financial services/scams Private Venture Capital Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/private- venture-capital-group Surveillance 7/08/2013 Unlicensed financial services/scams Bureau of International Securities Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bureau-of- international-securities-trading

Surveillance 31/07/2013 Unlicensed financial services/scams Gordon Vaughn and Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gordon- vaughn-and-associates Surveillance 31/07/2013 Unlicensed financial services/scams Key Value Wealth Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/key-value- wealth-management RCD.0015.0003.0398

Public Results & Reports

Surveillance 31/07/2013 Unlicensed financial services/scams Raimon & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/raimon- associates Surveillance 30/07/2013 Unlicensed financial services/scams Consorteum Holdings Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/consorteum-holdings-inc Surveillance 30/07/2013 Unlicensed financial services/scams Indochine Nominees Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/indochine- nominees-ltd Surveillance 30/07/2013 Unlicensed financial services/scams Lucky Pearl Investments Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lucky-pearl- investments-ltd Surveillance 30/07/2013 Unlicensed financial services/scams Capital Alliance International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- alliance-international Surveillance 23/07/2013 Unlicensed financial services/scams Twin Royale International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/twin-royale- international Surveillance 18/07/2013 Unlicensed financial services/scams TM Capital Corp / Thomson McKinnon Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Corp an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tm-capital- corp-thomson-mckinnon-capital-corp

Surveillance 15/07/2013 Unlicensed financial services/scams VCC International Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vcc- international-group-ltd Surveillance 11/07/2013 Unlicensed financial services/scams Scott W. Thomas, Attorney-at-law Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/scott-w- thomas-attorney-at-law Surveillance 10/07/2013 Unlicensed financial services/scams Southeast Pacific Investment Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/s/southeast- pacific-investment Surveillance 1/07/2013 Unlicensed financial services/scams Trade Miles International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trade-miles- international Surveillance 28/06/2013 Unlicensed financial services/scams Department of Foreign Investment Control Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/d/department-of-foreign-investment- control Surveillance 27/06/2013 Unlicensed financial services/scams International Commission of Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-commission-of-securities

Surveillance 25/06/2013 Unlicensed financial services/scams Cambros Capital Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cambros- capital-ltd Surveillance 19/06/2013 Unlicensed financial services/scams International Financial Forensics Organization Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-financial-forensics- organization RCD.0015.0003.0399

Public Results & Reports

Surveillance 6/06/2013 Unlicensed financial services/scams Madison Private Equity LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/madison- private-equity-llc Surveillance 6/06/2013 Unlicensed financial services/scams Phoenix Private Equity LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/phoenix- private-equity-llc Surveillance 29/05/2013 Unlicensed financial services/scams iOption Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/ioption- group-ltd Surveillance 29/05/2013 Unlicensed financial services/scams Inter Reef Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/inter-reef- ltd Surveillance 24/05/2013 Unlicensed financial services/scams Global Capital Australia Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- capital-australia Surveillance 24/05/2013 Unlicensed financial services/scams Global Capital Wealth Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- capital-wealth Surveillance 24/05/2013 Unlicensed financial services/scams Prestige Private Wealth Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prestige- private-wealth Surveillance 24/05/2013 Unlicensed financial services/scams Swiss Union Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/swiss- union Surveillance 24/05/2013 Unlicensed financial services/scams Swiss Private Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/swiss- private-capital Surveillance 24/05/2013 Unlicensed financial services/scams Secured Collateral Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/secured- collateral Surveillance 24/05/2013 Unlicensed financial services/scams Deutsche Capital Holdings Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/deutsche- capital-holdings-inc Surveillance 22/05/2013 Unlicensed financial services/scams Milton Keynes Capital Partners LLP Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/milton- keynes-capital-partners-llp

Surveillance 15/05/2013 Unlicensed financial services/scams Drobium Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/drobium- associates Surveillance 3/05/2013 Unlicensed financial services/scams VC Management China Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vc- management-china-ltd Surveillance 24/04/2013 Unlicensed financial services/scams Gould Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gould- ventures Surveillance 5/04/2013 Unlicensed financial services/scams Endevour Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/endevour RCD.0015.0003.0400

Public Results & Reports

Surveillance 28/02/2013 Unlicensed financial services/scams Winbase Equities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/winbase- equities Surveillance 27/02/2013 Unlicensed financial services/scams Ausante LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/ausante-llc

Surveillance 22/02/2013 Unlicensed financial services/scams Burton Fiennes Financial Advisors Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/burton- fiennes-financial-advisors-ltd

Surveillance 20/02/2013 Unlicensed financial services/scams Intercapital Equity Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/intercapital- equity-partners Surveillance 20/02/2013 Unlicensed financial services/scams Beijing Capital Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/beijing- capital-trading Surveillance 14/02/2013 Unlicensed financial services/scams Regal Capital Group LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/regal- capital-group-llc Surveillance 13/02/2013 Unlicensed financial services/scams China Environment Group Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/china- environment-group-limited Surveillance 11/02/2013 Unlicensed financial services/scams Department of Financial Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/d/department-of-financial-trading Surveillance 11/02/2013 Unlicensed financial services/scams London Aquisition Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/london- aquisition-group Surveillance 11/02/2013 Unlicensed financial services/scams London Acquisition Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/london- acquisition-group Surveillance 23/01/2013 Unlicensed financial services/scams Norwick & Crowley Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/norwick- and-crowley Surveillance 11/01/2013 Unlicensed financial services/scams Virgin Gold Mining Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/virgin-gold- mining-corporation Surveillance 24/12/2012 Unlicensed financial services/scams JI Financial Forensics Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/ji-financial- forensics Surveillance 24/12/2012 Unlicensed financial services/scams Trillium Advisory Firm Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trillium- advisory-firm Surveillance 24/12/2012 Unlicensed financial services/scams Harold Baker Law Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/harold- baker-law-group Surveillance 6/12/2012 Unlicensed financial services/scams Hicend International Trading Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hicend- international-trading-group RCD.0015.0003.0401

Public Results & Reports

Surveillance 27/11/2012 Unlicensed financial services/scams HB Group SA Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hb-group- sa Surveillance 21/11/2012 Unlicensed financial services/scams MI Financial Trading Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mi- financial-trading-limited Surveillance 21/11/2012 Unlicensed financial services/scams Stuart Lyall Futures Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stuart-lyall- futures-limited Surveillance 19/11/2012 Unlicensed financial services/scams Lakeshore Private Equity Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lakeshore- private-equity Surveillance 7/11/2012 Unlicensed financial services/scams Redford Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/redford- securities Surveillance 29/10/2012 Unlicensed financial services/scams New Lines Futures Austria Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/new-lines- futures-austria Surveillance 29/10/2012 Unlicensed financial services/scams Austrian Futures & Options Trading Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/austrian- futures-options-trading-exchange

Surveillance 29/10/2012 Unlicensed financial services/scams European Association of Futures and Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Traders an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/european- association-of-futures-and-options-traders

Surveillance 22/10/2012 Unlicensed financial services/scams Win Sec Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/win-sec- group Surveillance 16/10/2012 Unlicensed financial services/scams Apollo Asset Management HK Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/apollo- asset-management-hk Surveillance 16/10/2012 Unlicensed financial services/scams UnitedRegistrar Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/u/unitedregistrar Surveillance 16/10/2012 Unlicensed financial services/scams Darryl Stephen Argent Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/darryl- stephen-argent Surveillance 16/10/2012 Unlicensed financial services/scams Bridgestone Global Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/b/bridgestone-global-partners Surveillance 16/10/2012 Unlicensed financial services/scams Capital Arc Holdings Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital-arc- holdings Surveillance 16/10/2012 Unlicensed financial services/scams C T Holding Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/c-t-holding- ltd Surveillance 25/09/2012 Unlicensed financial services/scams Montgomery Roth International Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/m/montgomery-roth-international-ltd RCD.0015.0003.0402

Public Results & Reports

Surveillance 25/09/2012 Unlicensed financial services/scams Clean Earth Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/clean-earth investments Surveillance 12/09/2012 Unlicensed financial services/scams Prava Law Group LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prava-law- group-llc Surveillance 12/09/2012 Unlicensed financial services/scams CTC Holdings Co Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/ctc- holdings-co Surveillance 12/09/2012 Unlicensed financial services/scams European Futures Options Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/european- futures-options-commission

Surveillance 15/08/2012 Unlicensed financial services/scams Cross Harbour Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cross- harbour-trading Surveillance 15/08/2012 Unlicensed financial services/scams R P Hayes & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/r-p-hayes- associates Surveillance 13/08/2012 Unlicensed financial services/scams Belgium Commodities & Futures Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/belgium- commodities-futures-exchange

Surveillance 13/08/2012 Unlicensed financial services/scams Goldwater Global Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goldwater- global-management Surveillance 25/07/2012 Unlicensed financial services/scams Shintomi Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shintomi- trading Surveillance 18/07/2012 Unlicensed financial services/scams Short Term Lending Solutions Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/s/short-term- lending-solutions Surveillance 18/07/2012 Unlicensed financial services/scams Department of Securities Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/d/department-of-securities-trading Surveillance 18/07/2012 Unlicensed financial services/scams Plutus Private Equity LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/plutus- private-equity-llc Surveillance 18/07/2012 Unlicensed financial services/scams Jack Wilson Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jack-wilson- trading Surveillance 10/07/2012 Unlicensed financial services/scams Chartered Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chartered- capital-management Surveillance 10/07/2012 Unlicensed financial services/scams Continental Private Equity LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/continental private-equity-llc Surveillance 10/07/2012 Unlicensed financial services/scams Global E-Finance Investment Group (1) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global-e- finance-investment-group-1 RCD.0015.0003.0403

Public Results & Reports

Surveillance 10/07/2012 Unlicensed financial services/scams GE Capital Finance SpA / GE Capital Finance Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Company mpanies-you-should-not-deal- with/unlicensed-companies-list/g/ge-capital- finance-spa-ge-capital-finance-company

Surveillance 3/07/2012 Unlicensed financial services/scams Endeavour Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/endeavour- mergers-and-acquisitions

Surveillance 3/07/2012 Unlicensed financial services/scams Equities Trading Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/equities- trading-commission Surveillance 3/07/2012 Unlicensed financial services/scams Lockhart Trading Company Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lockhart- trading-company-limited Surveillance 3/07/2012 Unlicensed financial services/scams MTC Global Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mtc- global-group Surveillance 25/06/2012 Unlicensed financial services/scams Ocean Financial Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/ocean- financial-management Surveillance 14/06/2012 Unlicensed financial services/scams Wheeler Asset Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wheeler- asset-group Surveillance 6/06/2012 Unlicensed financial services/scams River Valley Trading Pte Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/river-valley- trading-pte Surveillance 6/06/2012 Unlicensed financial services/scams Edinburgh Asset Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/edinburgh- asset-management-limited

Surveillance 23/05/2012 Unlicensed financial services/scams Global E-Finance Investment Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global-e- finance-investment-group Surveillance 8/05/2012 Unlicensed financial services/scams Private Trading Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/private- trading-acquisitions Surveillance 27/04/2012 Unlicensed financial services/scams Trade Winners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trade- winners Surveillance 17/04/2012 Unlicensed financial services/scams Federal Capital Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/federal- capital-inc Surveillance 10/04/2012 Unlicensed financial services/scams One Capital Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/one-capital corporation Surveillance 10/04/2012 Unlicensed financial services/scams EFA / Finance Australia Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/e/efa-finance australia Surveillance 28/03/2012 Unlicensed financial services/scams Golden Futures Incorporated (GFI) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/golden- futures-incorporated-gfi RCD.0015.0003.0404

Public Results & Reports

Surveillance 28/03/2012 Unlicensed financial services/scams RGM Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rgm- trading Surveillance 28/03/2012 Unlicensed financial services/scams Amsel Commodities AG Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/amsel- commodities-ag Surveillance 22/03/2012 Unlicensed financial services/scams Hudson Munroe Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hudson- munroe Surveillance 22/03/2012 Unlicensed financial services/scams Lucas Strauss Consultants Austria Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lucas- strauss-consultants-austria Surveillance 14/03/2012 Unlicensed financial services/scams Perrin Holden & Davenport Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Corporation (PHD) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/perrin- holden-davenport-capital-corporation-phd

Surveillance 14/03/2012 Unlicensed financial services/scams Belleminghum Schweiz Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/b/belleminghum-schweiz-commodities

Surveillance 6/03/2012 Unlicensed financial services/scams McKinney Bristol Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mckinney- bristol Surveillance 6/03/2012 Unlicensed financial services/scams Jura Financial Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jura- financial Surveillance 6/03/2012 Unlicensed financial services/scams Emporis Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/emporis- trading Surveillance 22/02/2012 Unlicensed financial services/scams GLFM Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/glfm-group- ltd Surveillance 22/02/2012 Unlicensed financial services/scams Matthew-Christ Expert Consulting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/matthew- christ-expert-consulting Surveillance 22/02/2012 Unlicensed financial services/scams CMZ Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cmz- trading Surveillance 22/02/2012 Unlicensed financial services/scams Abel Myers Consulting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/abel-myers- consulting Surveillance 22/02/2012 Unlicensed financial services/scams Asean Commodities Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asean- commodities-inc Surveillance 22/02/2012 Unlicensed financial services/scams Smith & Olsson Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/smith- olsson Surveillance 22/02/2012 Unlicensed financial services/scams Schuman Lindeberg SA Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/schuman- lindeberg-sa RCD.0015.0003.0405

Public Results & Reports

Surveillance 9/02/2012 Unlicensed financial services/scams IS Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/is- commodities Surveillance 31/01/2012 Unlicensed financial services/scams CGR Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cgr- consultants Surveillance 18/01/2012 Unlicensed financial services/scams Tosk Finance Group Snd Bhd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tosk- finance-group-snd-bhd Surveillance 18/01/2012 Unlicensed financial services/scams Parry Thorsten Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/parry- thorsten-partners Surveillance 18/01/2012 Unlicensed financial services/scams Brent Stokes Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/brent- stokes-associates Surveillance 14/12/2011 Unlicensed financial services/scams Tradex Austria Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tradex- austria Surveillance 14/12/2011 Unlicensed financial services/scams Norton Pearce Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/norton- pearce-associates Surveillance 14/12/2011 Unlicensed financial services/scams Wilkinson Bennings Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wilkinson- bennings-securities Surveillance 12/12/2011 Unlicensed financial services/scams Vanquish Capital Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vanquish- capital-associates Surveillance 2/12/2011 Unlicensed financial services/scams Peter Snider Consulting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/peter- snider-consulting Surveillance 2/12/2011 Unlicensed financial services/scams Keep Clearing Corp Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/keep- clearing-corp Surveillance 18/11/2011 Unlicensed financial services/scams James Church Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/james- church Surveillance 18/11/2011 Unlicensed financial services/scams Aeon Loans Financial Services Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aeon-loans- financial-services Surveillance 18/11/2011 Unlicensed financial services/scams TBT Advisory Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tbt- advisory-services Surveillance 7/11/2011 Unlicensed financial services/scams InCapital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/incapital

Surveillance 7/11/2011 Unlicensed financial services/scams Powerhouse Corporate Finance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/p/powerhouse-corporate-finance RCD.0015.0003.0406

Public Results & Reports

Surveillance 28/10/2011 Unlicensed financial services/scams Kohler Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kohler- commodities Surveillance 21/10/2011 Unlicensed financial services/scams In and In Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/in-and-in- management-limited Surveillance 21/10/2011 Unlicensed financial services/scams Zimmermann International Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/z/zimmermann-international-group Surveillance 21/10/2011 Unlicensed financial services/scams Sicfex Swiss International Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Futures Exchange an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sicfex-swiss international-commodities-futures-exchange

Surveillance 21/10/2011 Unlicensed financial services/scams Parkfield Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/parkfield- trading Surveillance 21/10/2011 Unlicensed financial services/scams Peak Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/peak- commodities Surveillance 6/10/2011 Unlicensed financial services/scams Pretium Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pretium- ventures Surveillance 6/10/2011 Unlicensed financial services/scams China Mineral Company Limited (CMC) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/china- mineral-company-limited-cmc Surveillance 6/10/2011 Unlicensed financial services/scams Tortola Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tortola- capital Surveillance 26/09/2011 Unlicensed financial services/scams International Mergers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-mergers Surveillance 26/09/2011 Unlicensed financial services/scams Tokyo Bay Traders Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tokyo-bay- traders Surveillance 26/09/2011 Unlicensed financial services/scams North Point Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/north- point-commodities Surveillance 13/09/2011 Unlicensed financial services/scams Cayo Flow Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cayo-flow- capital Surveillance 13/09/2011 Unlicensed financial services/scams Sparen FX Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sparen-fx

Surveillance 2/09/2011 Unlicensed financial services/scams Sauer Capital S.A. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sauer- capital-sa Surveillance 30/08/2011 Unlicensed financial services/scams Premier eFinance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/premier- efinance RCD.0015.0003.0407

Public Results & Reports

Surveillance 30/08/2011 Unlicensed financial services/scams Regal Group International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/regal-group international Surveillance 19/08/2011 Unlicensed financial services/scams Kaufmann-Rothstein International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kaufmann- rothstein-international Surveillance 18/08/2011 Unlicensed financial services/scams Caveat Loans ITstrong Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/c/caveat- loans-itstrong Surveillance 18/08/2011 Unlicensed financial services/scams Ezy Savings Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/ezy-savings

Surveillance 12/08/2011 Unlicensed financial services/scams Trade & Clear Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trade-clear- ltd Surveillance 12/08/2011 Unlicensed financial services/scams Landen Options and Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/landen- options-and-futures Surveillance 11/08/2011 Unlicensed financial services/scams International Holdings Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-holdings-corporation Surveillance 11/08/2011 Unlicensed financial services/scams New Century International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/new- century-international Surveillance 4/08/2011 Unlicensed financial services/scams Century Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/century- commodities Surveillance 4/08/2011 Unlicensed financial services/scams Stanton Rose Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stanton- rose Surveillance 20/07/2011 Unlicensed financial services/scams Transatlantic Alliance Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/t/transatlantic-alliance-inc Surveillance 14/07/2011 Unlicensed financial services/scams Peak Power Direct Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/peak- power-direct-limited Surveillance 13/07/2011 Unlicensed financial services/scams FG Solutions International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fg-solutions international Surveillance 13/07/2011 Unlicensed financial services/scams Brightbridge Wealth Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/b/brightbridge-wealth-management-inc

Surveillance 11/07/2011 Unlicensed financial services/scams 1st Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/0-9/1st- ventures Surveillance 8/07/2011 Unlicensed financial services/scams Energy Development Global Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/energy- development-global-limited RCD.0015.0003.0408

Public Results & Reports

Surveillance 8/07/2011 Unlicensed financial services/scams Swiss Commodities Futures Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/swiss- commodities-futures-exchange Surveillance 4/07/2011 Unlicensed financial services/scams Jag Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jag-trading

Surveillance 22/06/2011 Unlicensed financial services/scams Omega Finances AG Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/omega- finances-ag Surveillance 22/06/2011 Unlicensed financial services/scams Pratacom Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pratacom

Surveillance 22/06/2011 Unlicensed financial services/scams Euroflex Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/euroflex- commodities Surveillance 6/06/2011 Unlicensed financial services/scams Tudor Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tudor- commodities Surveillance 6/06/2011 Unlicensed financial services/scams Zurich Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/z/zurich- commodities Surveillance 2/06/2011 Unlicensed financial services/scams Song Management Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/song- management-group Surveillance 18/05/2011 Unlicensed financial services/scams Ag Investor Fund Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/ag-investor- fund Surveillance 18/05/2011 Unlicensed financial services/scams RE Group International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/re-group- international Surveillance 16/05/2011 Unlicensed financial services/scams Roseville Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/roseville- trading Surveillance 16/05/2011 Unlicensed financial services/scams Zurich Futures AG Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/z/zurich- futures-ag Surveillance 10/05/2011 Unlicensed financial services/scams Weissmüller and Sons Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/w/weissmueller-and-sons Surveillance 4/05/2011 Unlicensed financial services/scams Lexington Pty International Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lexington- pty-international-inc Surveillance 4/05/2011 Unlicensed financial services/scams Panmure Gordon & Co Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/panmure- gordon-co Surveillance 21/04/2011 Unlicensed financial services/scams Sternwood Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sternwood- partners RCD.0015.0003.0409

Public Results & Reports

Surveillance 15/04/2011 Unlicensed financial services/scams Options Extreme LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/options- extreme-llc Surveillance 7/04/2011 Unlicensed financial services/scams Donaldson and Turner, Inc. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/donaldson- and-turner-inc Surveillance 1/04/2011 Unlicensed financial services/scams Gerstein Global Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gerstein- global-futures Surveillance 1/04/2011 Unlicensed financial services/scams Itochu Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/itochu- capital Surveillance 1/04/2011 Unlicensed financial services/scams Dierbergs Enterprises Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dierbergs- enterprises Surveillance 24/03/2011 Unlicensed financial services/scams Financial Markets Alliance Inc (FMAI) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- markets-alliance-inc-fmai Surveillance 16/03/2011 Unlicensed financial services/scams Thalmann Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/thalmann- commodities Surveillance 2/03/2011 Unlicensed financial services/scams Lakenshare Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lakenshare

Surveillance 2/03/2011 Unlicensed financial services/scams Blossom Hill Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/blossom- hill-investments Surveillance 1/03/2011 Unlicensed financial services/scams Water Solutions Asia Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/water- solutions-asia Surveillance 1/03/2011 Unlicensed financial services/scams Hydro Environmental International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hydro- environmental-international Surveillance 28/02/2011 Unlicensed financial services/scams Käferberg Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kaeferberg- trading Surveillance 28/02/2011 Unlicensed financial services/scams Oppenheimer Lloyd Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/o/oppenheimer-lloyd-consultants Surveillance 28/02/2011 Unlicensed financial services/scams Axis Corporate Finance Pty Ltd ("Axis Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Corporate") an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/axis- corporate-finance-pty-ltd-axis-corporate Surveillance 28/02/2011 Unlicensed financial services/scams Irving Horowitz Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/irving- horowitz-mergers-and-acquisitions Surveillance 28/02/2011 Unlicensed financial services/scams International Stock and Asset Compliance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Center, The an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-stock-and-asset- compliance-center-the RCD.0015.0003.0410

Public Results & Reports

Surveillance 28/02/2011 Unlicensed financial services/scams International Equity Authority (International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Equity) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-equity-authority- international-equity Surveillance 28/02/2011 Unlicensed financial services/scams International Currency Traders, SA Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-currency-traders-sa Surveillance 28/02/2011 Unlicensed financial services/scams SmartOptions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/s/smartoptions Surveillance 28/02/2011 Unlicensed financial services/scams Icon Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/icon-capital- management Surveillance 25/02/2011 Unlicensed financial services/scams Aberdeen Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aberdeen- asset-management Surveillance 24/02/2011 Unlicensed financial services/scams Price & Partners Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/price- partners-consultants Surveillance 24/02/2011 Unlicensed financial services/scams Premiere Asset Management (US, European & Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Asian) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/premiere- asset-management-us-european-asian

Surveillance 24/02/2011 Unlicensed financial services/scams OF Eastern Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/of-eastern

Surveillance 24/02/2011 Unlicensed financial services/scams Options and Futures Eastern Trading Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/options- and-futures-eastern-trading-ltd

Surveillance 24/02/2011 Unlicensed financial services/scams Newport Pacific Securities & Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/newport- pacific-securities-management-inc

Surveillance 24/02/2011 Unlicensed financial services/scams Muller & Sons Securities Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/muller- sons-securities-management-inc

Surveillance 24/02/2011 Unlicensed financial services/scams MetroFinancials Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/m/metrofinancials Surveillance 24/02/2011 Unlicensed financial services/scams Wellington International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wellington- international Surveillance 24/02/2011 Unlicensed financial services/scams Hentsch & Müller S.A. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hentsch- mueller-sa Surveillance 24/02/2011 Unlicensed financial services/scams Hastings Capital Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hastings- capital-group-the RCD.0015.0003.0411

Public Results & Reports

Surveillance 24/02/2011 Unlicensed financial services/scams Harbor Capital Management, San Francisco Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/harbor- capital-management-san-francisco

Surveillance 24/02/2011 Unlicensed financial services/scams Vincy Options S.A Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vincy- options-sa Surveillance 24/02/2011 Unlicensed financial services/scams U.S. Stock Regulators Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/us-stock- regulators Surveillance 24/02/2011 Unlicensed financial services/scams Manhattan Pacific Group Ltd, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/m/manhattan-pacific-group-ltd-the Surveillance 24/02/2011 Unlicensed financial services/scams Madison Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/madison- group,-the Surveillance 24/02/2011 Unlicensed financial services/scams Top Sky Consultants Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/top-sky- consultants-limited Surveillance 24/02/2011 Unlicensed financial services/scams Tomas Linz Transfer Agency Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tomas-linz- transfer-agency Surveillance 24/02/2011 Unlicensed financial services/scams Stuartt Reed Kammer (a company) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stuartt- reed-kammer-a-company Surveillance 24/02/2011 Unlicensed financial services/scams Stromberg Trading Ltd / Stromberg Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stromberg- trading-ltd-stromberg-limited

Surveillance 24/02/2011 Unlicensed financial services/scams Strategic Alliance Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/strategic- alliance-group-the Surveillance 24/02/2011 Unlicensed financial services/scams Stockard Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stockard- group-the Surveillance 24/02/2011 Unlicensed financial services/scams Strike Commodieties Ltd / Strike Securities Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (SSInc) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/strike- commodieties-ltd-strike-securities-inc-ssinc

Surveillance 23/02/2011 Unlicensed financial services/scams Lyon Group Inc, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lyon-group- inc-the Surveillance 23/02/2011 Unlicensed financial services/scams LGT Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lgt-capital- partners Surveillance 23/02/2011 Unlicensed financial services/scams Lexington Direct Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lexington- direct Surveillance 23/02/2011 Unlicensed financial services/scams Knowle Sachs & Company Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/knowle- sachs-company RCD.0015.0003.0412

Public Results & Reports

Surveillance 23/02/2011 Unlicensed financial services/scams Kensington Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kensington- group-the Surveillance 23/02/2011 Unlicensed financial services/scams Greer Fox Yamato Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/greer-fox- yamato Surveillance 23/02/2011 Unlicensed financial services/scams Goldenberg Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goldenberg limited Surveillance 23/02/2011 Unlicensed financial services/scams GMEX Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gmex Surveillance 23/02/2011 Unlicensed financial services/scams Global Quest Emerging Fund LP Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- quest-emerging-fund-lp Surveillance 23/02/2011 Unlicensed financial services/scams Global Options S.A./ Global Options (Belgique) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co SA an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- options-sa-global-options-belgique-sa Surveillance 23/02/2011 Unlicensed financial services/scams Global Link Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global-link- mergers-and-acquisitions Surveillance 23/02/2011 Unlicensed financial services/scams Georgian Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/georgian- group-the Surveillance 23/02/2011 Unlicensed financial services/scams Fujiwara Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fujiwara- group-the Surveillance 23/02/2011 Unlicensed financial services/scams Freemont Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/freemont- trading Surveillance 23/02/2011 Unlicensed financial services/scams First Trading Group / First Euro Trading Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- trading-group-first-euro-trading-group Surveillance 23/02/2011 Unlicensed financial services/scams Financial Markets Supervisory Authority of Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Hong Kong an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- markets-supervisory-authority-of-hong-kong

Surveillance 23/02/2011 Unlicensed financial services/scams Dulton Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dulton- group-the Surveillance 23/02/2011 Unlicensed financial services/scams DES Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/des- options Surveillance 23/02/2011 Unlicensed financial services/scams Delta Trade Financial Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/delta-trade financial-group Surveillance 23/02/2011 Unlicensed financial services/scams Delmedica Investments Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/delmedica- investments-limited RCD.0015.0003.0413

Public Results & Reports

Surveillance 21/02/2011 Unlicensed financial services/scams Crown Financial Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/crown- financial-management Surveillance 21/02/2011 Unlicensed financial services/scams Crown Alpha Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/crown- alpha-limited Surveillance 21/02/2011 Unlicensed financial services/scams Churchill Capital USA Inc / Churchill Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Inc an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/churchill- capital-usa-inc-churchill-securities-inc

Surveillance 21/02/2011 Unlicensed financial services/scams Chaubert Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chaubert- asset-management Surveillance 21/02/2011 Unlicensed financial services/scams Cantwell Holdings / Cantwell International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cantwell- holdings-cantwell-international

Surveillance 21/02/2011 Unlicensed financial services/scams C&C Global Co Limited / Commodity and Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Currency Global Co Limited an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cc-global- co-limited-commodity-and-currency-global- co-limited Surveillance 21/02/2011 Unlicensed financial services/scams Brinton Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/brinton- group-the Surveillance 21/02/2011 Unlicensed financial services/scams Bench Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bench- group-the Surveillance 21/02/2011 Unlicensed financial services/scams Acomex Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/acomex

Surveillance 18/02/2011 Unlicensed financial services/scams Wells Financial Holdings Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wells- financial-holdings-ltd Surveillance 18/02/2011 Unlicensed financial services/scams Abacus Group Co Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/abacus- group-co-limited Surveillance 18/02/2011 Unlicensed financial services/scams Progress Investments LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/progress- investments-llc Surveillance 18/02/2011 Unlicensed financial services/scams Energy Group International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/energy- group-international Surveillance 18/02/2011 Unlicensed financial services/scams Global Option Solutions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- option-solutions Surveillance 18/02/2011 Unlicensed financial services/scams Bauer Global Finanz Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bauer- global-finanz Surveillance 10/02/2011 Unlicensed financial services/scams Wolf & Heissner Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wolf- heissner-associates RCD.0015.0003.0414

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams World Energy International Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/world- energy-international-inc Surveillance 10/02/2011 Unlicensed financial services/scams World Options Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/world- options-exchange Surveillance 10/02/2011 Unlicensed financial services/scams World Wide Wealth Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/world- wide-wealth-management Surveillance 10/02/2011 Unlicensed financial services/scams Worldleader Investment Insider / Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Worldleader Investment Ltd an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/w/worldleader-investment-insider- worldleader-investment-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Worldwide Investment Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Corporation an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/worldwide- investment-management-corporation

Surveillance 10/02/2011 Unlicensed financial services/scams Worldwide Investors Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/worldwide- investors-management-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Worldwide Securities Investment Comission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/worldwide- securities-investment-comission

Surveillance 10/02/2011 Unlicensed financial services/scams Worldwide Services Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/worldwide- services-inc Surveillance 10/02/2011 Unlicensed financial services/scams Xenon Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/x/xenon- group-the Surveillance 10/02/2011 Unlicensed financial services/scams York Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/y/york- commodities Surveillance 10/02/2011 Unlicensed financial services/scams Young Lee Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/y/young-lee- associates Surveillance 10/02/2011 Unlicensed financial services/scams Yutaka Commodities, Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/y/yutaka- commodities-inc Surveillance 10/02/2011 Unlicensed financial services/scams Vantagepro Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vantagepro asset-management Surveillance 10/02/2011 Unlicensed financial services/scams VanZandt Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vanzandt- group Surveillance 10/02/2011 Unlicensed financial services/scams Venture Capital Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/venture- capital-exchange RCD.0015.0003.0415

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Vitol Capital Management Ltd / Vitol Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vitol- capital-management-ltd-vitol-capital Surveillance 10/02/2011 Unlicensed financial services/scams WAA Fortune International Investment and Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Management Co. Ltd an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/waa- fortune-international-investment-and- management-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Walden International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/walden- international Surveillance 10/02/2011 Unlicensed financial services/scams Wall Street Direct Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wall-street direct Surveillance 10/02/2011 Unlicensed financial services/scams Warren and Baker Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/warren- and-baker Surveillance 10/02/2011 Unlicensed financial services/scams Warrick Management Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/warrick- management-group-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Waterhouse Holdings Inc (and Chicago Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Accounting) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/w/waterhouse-holdings-inc-and-chicago- accounting Surveillance 10/02/2011 Unlicensed financial services/scams Webster Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/webster- acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Weissman Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/weissman- commodities Surveillance 10/02/2011 Unlicensed financial services/scams Wellington Trading Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wellington- trading-group Surveillance 10/02/2011 Unlicensed financial services/scams Westcore Capital Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/westcore- capital-limited Surveillance 10/02/2011 Unlicensed financial services/scams Western and Gulf Finance Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/western- and-gulf-finance-corporation

Surveillance 10/02/2011 Unlicensed financial services/scams Western Capital Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/western- capital-inc Surveillance 10/02/2011 Unlicensed financial services/scams Western Capital Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/western- capital-trading Surveillance 10/02/2011 Unlicensed financial services/scams WesternField Holdings Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/w/westernfield-holdings-inc Surveillance 10/02/2011 Unlicensed financial services/scams Westwood Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/westwood- management-limited RCD.0015.0003.0416

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Whitby Dumas Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/whitby- dumas Surveillance 10/02/2011 Unlicensed financial services/scams Whitman Lloyds and Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/whitman- lloyds-and-associates Surveillance 10/02/2011 Unlicensed financial services/scams Whittman Wright & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/whittman- wright-associates Surveillance 10/02/2011 Unlicensed financial services/scams Widmer Options Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/widmer- options Surveillance 10/02/2011 Unlicensed financial services/scams Williams Group, The Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/williams- group-the Surveillance 10/02/2011 Unlicensed financial services/scams Wilton and Smythe Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wilton-and smythe-associates Surveillance 10/02/2011 Unlicensed financial services/scams Windsor Advisory Services S.A. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/windsor- advisory-services-sa Surveillance 10/02/2011 Unlicensed financial services/scams Windsor Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/windsor- limited Surveillance 10/02/2011 Unlicensed financial services/scams Windsor Venture Securities Co Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/windsor- venture-securities-co-limited

Surveillance 10/02/2011 Unlicensed financial services/scams Winston Partners and Co Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/winston- partners-and-co Surveillance 10/02/2011 Unlicensed financial services/scams Wire Securities Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wire- securities-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Wittaker Stanley Inc ('WSI') Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/w/wittaker- stanley-inc-wsi Surveillance 10/02/2011 Unlicensed financial services/scams Stamford Financial Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stamford- financial-limited Surveillance 10/02/2011 Unlicensed financial services/scams Stanley Cooper Assets Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stanley- cooper-assets-inc Surveillance 10/02/2011 Unlicensed financial services/scams Starr-Bradley Associates Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/starr- bradley-associates-inc Surveillance 10/02/2011 Unlicensed financial services/scams Stefan Borer and Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stefan- borer-and-associates RCD.0015.0003.0417

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Sterling Futures Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sterling- futures-management-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Stillman Roth Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stillman- roth Surveillance 10/02/2011 Unlicensed financial services/scams Stonewell Finance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/stonewell- finance Surveillance 10/02/2011 Unlicensed financial services/scams Summit M & A Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/summit-m- a-inc Surveillance 10/02/2011 Unlicensed financial services/scams Sun International Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sun- international-mergers-and-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Swift Tech Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/swift-tech- capital Surveillance 10/02/2011 Unlicensed financial services/scams SwissCash, Swiss Mutual Fund Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/swisscash- swiss-mutual-fund Surveillance 10/02/2011 Unlicensed financial services/scams Tahoe Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tahoe- futures Surveillance 10/02/2011 Unlicensed financial services/scams Talisman Finance Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/talisman- finance Surveillance 10/02/2011 Unlicensed financial services/scams Taylor Atlantic Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/taylor- atlantic-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Teikoku Commodities Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/teikoku- commodities-inc Surveillance 10/02/2011 Unlicensed financial services/scams Term Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/term- commodities Surveillance 10/02/2011 Unlicensed financial services/scams Thomas Moore Global Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/thomas- moore-global Surveillance 10/02/2011 Unlicensed financial services/scams Thompson Brennan Stanley Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/thompson- brennan-stanley Surveillance 10/02/2011 Unlicensed financial services/scams Timco Ichiban International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/timco- ichiban-international Surveillance 10/02/2011 Unlicensed financial services/scams TNC International Trading Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tnc- international-trading-inc RCD.0015.0003.0418

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Tradex Corporation Address Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tradex- corporation-address Surveillance 10/02/2011 Unlicensed financial services/scams Transfer Exchange Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/transfer- exchange-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Transglobal Consultants Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/transglobal- consultants-limited Surveillance 10/02/2011 Unlicensed financial services/scams Triasian Pacific Trading International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/triasian- pacific-trading-international

Surveillance 10/02/2011 Unlicensed financial services/scams Trident International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/trident- international Surveillance 10/02/2011 Unlicensed financial services/scams Tri-West Invest Club Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/t/tri-west- invest-club Surveillance 10/02/2011 Unlicensed financial services/scams Uni World Global Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/uni-world- global-management-limited Surveillance 10/02/2011 Unlicensed financial services/scams Union Transfer Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/union- transfer-inc Surveillance 10/02/2011 Unlicensed financial services/scams United Arab Emirates Commodities Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Board an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/united- arab-emirates-commodities-futures-board

Surveillance 10/02/2011 Unlicensed financial services/scams United Capital Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/united- capital-management-inc Surveillance 10/02/2011 Unlicensed financial services/scams Universal Strategies Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/universal- strategies-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Universal Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/universal- ventures Surveillance 10/02/2011 Unlicensed financial services/scams US Equities Registry Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/us-equities- registry Surveillance 10/02/2011 Unlicensed financial services/scams US Securities Investigative Committee Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/us- securities-investigative-committee Surveillance 10/02/2011 Unlicensed financial services/scams US Trading Associates Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/u/us-trading- associates-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Vanderberg Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/v/vanderberg-asset-management RCD.0015.0003.0419

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Vantage Global Partners ('VGP') Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vantage- global-partners-vgp Surveillance 10/02/2011 Unlicensed financial services/scams Vantage International Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/v/vantage- international-management-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Regulatory Association of Offshore Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Investment Managers an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/regulatory- association-of-offshore-investment-managers

Surveillance 10/02/2011 Unlicensed financial services/scams Regulatory Compliance Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/regulatory- compliance-commission

Surveillance 10/02/2011 Unlicensed financial services/scams Richardson Resources Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/richardson- resources-inc Surveillance 10/02/2011 Unlicensed financial services/scams Richmond Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/richmond- capital-management Surveillance 10/02/2011 Unlicensed financial services/scams Rive Financial SA Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rive- financial-sa Surveillance 10/02/2011 Unlicensed financial services/scams allfreigh Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rjl- international-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Rochelle Finances Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rochelle- finances Surveillance 10/02/2011 Unlicensed financial services/scams Rosenberg Smith & Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rosenberg- smith-partners Surveillance 10/02/2011 Unlicensed financial services/scams Rosenthal International Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rosenthal- international-inc Surveillance 10/02/2011 Unlicensed financial services/scams Rothstein and Ross Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rothstein- and-ross-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Royal Acquisitions Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/royal- acquisitions-inc Surveillance 10/02/2011 Unlicensed financial services/scams Royce Sanford Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/royce- sanford Surveillance 10/02/2011 Unlicensed financial services/scams Rutherford Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rutherford- consultants Surveillance 10/02/2011 Unlicensed financial services/scams Sacher Finanz Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sacher- finanz RCD.0015.0003.0420

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Safe Harbour Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/safe- harbour-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Safeguard Equity Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/safeguard- equity-group Surveillance 10/02/2011 Unlicensed financial services/scams Saxon & Swift Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/saxon-swift

Surveillance 10/02/2011 Unlicensed financial services/scams Secure Future Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/secure- future-trading Surveillance 10/02/2011 Unlicensed financial services/scams Securities Regulatory and Investment Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/securities- regulatory-and-investment-board

Surveillance 10/02/2011 Unlicensed financial services/scams Seedorf Luxman and Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/seedorf- luxman-and-partners Surveillance 10/02/2011 Unlicensed financial services/scams Seisma Oil Research LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/seisma-oil- research-llc Surveillance 10/02/2011 Unlicensed financial services/scams Shaw Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shaw- capital-management Surveillance 10/02/2011 Unlicensed financial services/scams Sherman Brothers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sherman- brothers Surveillance 10/02/2011 Unlicensed financial services/scams Shigesuke Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shigesuke

Surveillance 10/02/2011 Unlicensed financial services/scams Shin Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/shin- futures Surveillance 10/02/2011 Unlicensed financial services/scams Sigama Capital Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sigama- capital-management Surveillance 10/02/2011 Unlicensed financial services/scams Sigma Forex Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/sigma- forex Surveillance 10/02/2011 Unlicensed financial services/scams Simpson Venture Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/simpson- venture-limited Surveillance 10/02/2011 Unlicensed financial services/scams Skyfame Tower Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/skyfame- tower Surveillance 10/02/2011 Unlicensed financial services/scams Smith & Henderson Associates Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/smith- henderson-associates-inc RCD.0015.0003.0421

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Solitaire Management Services (Asia) Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/solitaire- management-services-asia-ltd

Surveillance 10/02/2011 Unlicensed financial services/scams Solvay Financial S.A Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/solvay- financial-sa Surveillance 10/02/2011 Unlicensed financial services/scams Spring Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/s/spring- ventures Surveillance 10/02/2011 Unlicensed financial services/scams Pacific Rim Wealth Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pacific-rim- wealth-management Surveillance 10/02/2011 Unlicensed financial services/scams Palladium Cathay Intermediaries Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/palladium- cathay-intermediaries Surveillance 10/02/2011 Unlicensed financial services/scams Pan Euro Financial SA Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pan-euro- financial-sa Surveillance 10/02/2011 Unlicensed financial services/scams Paradigm Resources Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/paradigm- resources-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Parker Jennings Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/parker- jennings Surveillance 10/02/2011 Unlicensed financial services/scams Parker Stanford Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/parker- stanford Surveillance 10/02/2011 Unlicensed financial services/scams PCA Management Trust LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pca- management-trust-llc Surveillance 10/02/2011 Unlicensed financial services/scams Pendelton and Associates (Japan) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pendelton- and-associates-japan Surveillance 10/02/2011 Unlicensed financial services/scams Petro Technologies Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/petro- technologies-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Pfeiffer Galland Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pfeiffer- galland-limited Surveillance 10/02/2011 Unlicensed financial services/scams Phoenix Alliance International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/phoenix- alliance-international Surveillance 10/02/2011 Unlicensed financial services/scams Phoenix International Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/phoenix- international-limited Surveillance 10/02/2011 Unlicensed financial services/scams Pinnacle Group Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pinnacle- group-limited RCD.0015.0003.0422

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Platinum Pacific Ltd / Platinum Investment Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Holding Corporation an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/platinum- pacific-ltd-platinum-investment-holding- corporation Surveillance 10/02/2011 Unlicensed financial services/scams Polaris Venture Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/polaris- venture-partners Surveillance 10/02/2011 Unlicensed financial services/scams Powell McDougall Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/powell- mcdougall Surveillance 10/02/2011 Unlicensed financial services/scams Power Point Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/power- point-capital Surveillance 10/02/2011 Unlicensed financial services/scams Premier Partners Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/premier- partners-inc Surveillance 10/02/2011 Unlicensed financial services/scams Prestige Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prestige- group-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Price Foley Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/price-foley

Surveillance 10/02/2011 Unlicensed financial services/scams Price Warner Company Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/price- warner-company-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Prime Global Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/prime- global-inc Surveillance 10/02/2011 Unlicensed financial services/scams Pro Capital Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pro-capital- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Provident International Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/provident- international-asset-management

Surveillance 10/02/2011 Unlicensed financial services/scams Pryce Weston Incorporated Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pryce- weston-incorporated Surveillance 10/02/2011 Unlicensed financial services/scams PT. Dolok Permai Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pt-dolok- permai Surveillance 10/02/2011 Unlicensed financial services/scams Raven Securities Corp Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/raven- securities-corp Surveillance 10/02/2011 Unlicensed financial services/scams RDG Trading Inc. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/rdg-trading- inc Surveillance 10/02/2011 Unlicensed financial services/scams Red Enterprise Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/r/red- enterprise RCD.0015.0003.0423

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Nanotech Industries Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/nanotech- industries-inc Surveillance 10/02/2011 Unlicensed financial services/scams National Mergers and Acquisitions Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/national- mergers-and-acquisitions-board

Surveillance 10/02/2011 Unlicensed financial services/scams National Shareholder Protection Agency Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/national- shareholder-protection-agency

Surveillance 10/02/2011 Unlicensed financial services/scams Nationwide Mergers & Acquisitions Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/nationwide mergers-acquisitions-inc

Surveillance 10/02/2011 Unlicensed financial services/scams New York Options Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/new-york- options-exchange Surveillance 10/02/2011 Unlicensed financial services/scams New York Petroleum Option Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (NYPOE) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/new-york- petroleum-option-exchange-nypoe Surveillance 10/02/2011 Unlicensed financial services/scams Newbridge Securities Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/newbridge- securities-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Newburgh Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/newburgh- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Newport Energy Asia Investor Relations Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/newport- energy-asia-investor-relations

Surveillance 10/02/2011 Unlicensed financial services/scams Next Futures Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/next- futures-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams North Pacific Mergers and Acquisitions LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/north- pacific-mergers-and-acquisitions-llc Surveillance 10/02/2011 Unlicensed financial services/scams Northern Pegasus LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/northern- pegasus-llc Surveillance 10/02/2011 Unlicensed financial services/scams Northpoint Portfolio Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/northpoint- portfolio-management-ltd

Surveillance 10/02/2011 Unlicensed financial services/scams Norwich Asset Management (UK) Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/norwich- asset-management-uk-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Norwich Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/norwich- group RCD.0015.0003.0424

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Nuventis Corporate Services Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/n/nuventis- corporate-services-group Surveillance 10/02/2011 Unlicensed financial services/scams Oakmont Financial Mergers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/oakmont- financial-mergers Surveillance 10/02/2011 Unlicensed financial services/scams Ocean Bridge Partnerships Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/ocean- bridge-partnerships Surveillance 10/02/2011 Unlicensed financial services/scams Offshore Commodity Futures Dealers Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Association (OCFDA) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/offshore- commodity-futures-dealers-association-ocfda

Surveillance 10/02/2011 Unlicensed financial services/scams Offshore Futures Securities Association Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/offshore- futures-securities-association

Surveillance 10/02/2011 Unlicensed financial services/scams Offshore Investors Protection Association Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/offshore- investors-protection-association

Surveillance 10/02/2011 Unlicensed financial services/scams Online Classic Company Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/online- classic-company Surveillance 10/02/2011 Unlicensed financial services/scams Onyx Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/onyx- acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Oppenheimer International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/o/oppenheimer-international Surveillance 10/02/2011 Unlicensed financial services/scams Optimum Resources International Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/optimum- resources-international-limited

Surveillance 10/02/2011 Unlicensed financial services/scams Options and Futures Trade Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/options- and-futures-trade-commission

Surveillance 10/02/2011 Unlicensed financial services/scams Osiris Asia Pacific Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/osiris-asia- pacific Surveillance 10/02/2011 Unlicensed financial services/scams Overseas Management Group Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/o/overseas- management-group-inc Surveillance 10/02/2011 Unlicensed financial services/scams Pace Capital Corp Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pace- capital-corp Surveillance 10/02/2011 Unlicensed financial services/scams Pacific Charted Assets Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pacific- charted-assets RCD.0015.0003.0425

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Pacific Energy Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pacific- energy-exchange Surveillance 10/02/2011 Unlicensed financial services/scams Pacific Global Advisors Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/p/pacific- global-advisors Surveillance 10/02/2011 Unlicensed financial services/scams Lloyds & Lambert Capital Ventures Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lloyds- lambert-capital-ventures-inc Surveillance 10/02/2011 Unlicensed financial services/scams Lloyds and Barclays, Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lloyds-and- barclays-inc Surveillance 10/02/2011 Unlicensed financial services/scams Lowe and Lane Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lowe-and- lane-asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Loyal Relations Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/loyal- relations-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Lynx Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lynx-limited

Surveillance 10/02/2011 Unlicensed financial services/scams Macmar Investment Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/macmar- investment-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Magna Capital Research Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/magna- capital-research Surveillance 10/02/2011 Unlicensed financial services/scams Marlborough Acquisitions Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/m/marlborough-acquisitions-inc Surveillance 10/02/2011 Unlicensed financial services/scams Mason McHale Portfolio Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mason- mchale-portfolio-management

Surveillance 10/02/2011 Unlicensed financial services/scams Masters and Bettman Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/masters- and-bettman Surveillance 10/02/2011 Unlicensed financial services/scams Maxim TA International (MTA) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/maxim-ta- international-mta Surveillance 10/02/2011 Unlicensed financial services/scams McKenzie Smith Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mckenzie- smith Surveillance 10/02/2011 Unlicensed financial services/scams Mercantile International Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/m/mercantile-international-securities

Surveillance 10/02/2011 Unlicensed financial services/scams Merchant Marx/ 'Merchant Capital Markets Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co S.A. an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/merchant- marx-merchant-capital-markets-sa RCD.0015.0003.0426

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Merchants International Investment Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Corporation (U.K.) Limited ('Merchants') an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/merchants international-investment-corporation-uk- limited-merchants

Surveillance 10/02/2011 Unlicensed financial services/scams Mercury Acquisitions Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/mercury- acquisitions-associates Surveillance 10/02/2011 Unlicensed financial services/scams Meridian International Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/meridian- international-trading Surveillance 10/02/2011 Unlicensed financial services/scams Meyer and Wegner Acquisitions / Mayer and Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Wegner Acquisitions an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/meyer- and-wegner-acquisitions-mayer-and-wegner- acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Millenium Financial Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/millenium- financial-group Surveillance 10/02/2011 Unlicensed financial services/scams Millenium Futures Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/millenium- futures-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Miller Bosses Acquisitions Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/miller- bosses-acquisitions-inc Surveillance 10/02/2011 Unlicensed financial services/scams Milton Financials Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/milton- financials Surveillance 10/02/2011 Unlicensed financial services/scams Morgan International Investment Group Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/morgan- international-investment-group-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Morgan Pacific Capital Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/morgan- pacific-capital-inc Surveillance 10/02/2011 Unlicensed financial services/scams Morris Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/morris- commodities Surveillance 10/02/2011 Unlicensed financial services/scams Morrison Cross Financial Investments Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/morrison- cross-financial-investments-ltd

Surveillance 10/02/2011 Unlicensed financial services/scams Muller Schmidt Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/m/muller- schmidt-associates Surveillance 10/02/2011 Unlicensed financial services/scams Investment Advisors & Consultants Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/investment- advisors-consultants-ltd

Surveillance 10/02/2011 Unlicensed financial services/scams Investors Securities Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/investors- securities-corporation RCD.0015.0003.0427

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Invision Private Equity AG Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/invision- private-equity-ag Surveillance 10/02/2011 Unlicensed financial services/scams ISS International Marketing Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/iss- international-marketing-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams IXIS Capital Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/ixis-capital- group Surveillance 10/02/2011 Unlicensed financial services/scams Jacobs & Kiplinger Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jacobs- kiplinger Surveillance 10/02/2011 Unlicensed financial services/scams Jan Wilen and Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jan-wilen- and-partners Surveillance 10/02/2011 Unlicensed financial services/scams Japan Futures Trading Fund (JFTB) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/japan- futures-trading-fund-jftb Surveillance 10/02/2011 Unlicensed financial services/scams Japan Options and Futures Trading Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/japan- options-and-futures-trading-board Surveillance 10/02/2011 Unlicensed financial services/scams JD Abrams & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jd-abrams- associates Surveillance 10/02/2011 Unlicensed financial services/scams JD Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jd-trading

Surveillance 10/02/2011 Unlicensed financial services/scams Jefferson Clark Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jefferson- clark-associates Surveillance 10/02/2011 Unlicensed financial services/scams JF Kidwell Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jf-kidwell- limited Surveillance 10/02/2011 Unlicensed financial services/scams Johannson Linqvist Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/johannson- linqvist-associates Surveillance 10/02/2011 Unlicensed financial services/scams JR Matthey Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/j/jr-matthey

Surveillance 10/02/2011 Unlicensed financial services/scams Kearns Investments Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kearns- investments-inc Surveillance 10/02/2011 Unlicensed financial services/scams Kenney Financial Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/kenney- financial-management Surveillance 10/02/2011 Unlicensed financial services/scams Klein International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/klein- international RCD.0015.0003.0428

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams KLM Investment Services Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/k/klm- investment-services-limited Surveillance 10/02/2011 Unlicensed financial services/scams Lambert McMillan Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lambert- mcmillan-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Lance Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lance- futures Surveillance 10/02/2011 Unlicensed financial services/scams Landmark Mergers and Acquisitions Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/landmark- mergers-and-acquisitions-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Lee Hamilton & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lee- hamilton-associates Surveillance 10/02/2011 Unlicensed financial services/scams Liberty Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/liberty- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Liberty Assets Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/liberty- assets-inc Surveillance 10/02/2011 Unlicensed financial services/scams Liberty First Financial Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/liberty-first- financial-services Surveillance 10/02/2011 Unlicensed financial services/scams Liberty Securities / Liberty Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Group an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/liberty- securities-liberty-management-group Surveillance 10/02/2011 Unlicensed financial services/scams Lincoln Financial Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lincoln- financial-group Surveillance 10/02/2011 Unlicensed financial services/scams Lincoln Market Research Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/lincoln- market-research Surveillance 10/02/2011 Unlicensed financial services/scams Link Mergers & Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/l/link- mergers-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Linx Asset Management Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/l/linx-asset- management Surveillance 10/02/2011 Unlicensed financial services/scams Howell Schine & Co Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/howell- schine-co Surveillance 10/02/2011 Unlicensed financial services/scams HPR Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hpr- commodities Surveillance 10/02/2011 Unlicensed financial services/scams Hudson International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hudson- international RCD.0015.0003.0429

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Hydro Solutions Asia Limited - Investor Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Relations an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hydro- solutions-asia-limited-investor-relations Surveillance 10/02/2011 Unlicensed financial services/scams Icahn Associates Corp Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/icahn- associates-corp Surveillance 10/02/2011 Unlicensed financial services/scams I-Chance Online Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/i-chance- online Surveillance 10/02/2011 Unlicensed financial services/scams Imperial Quest Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/imperial- quest-ventures Surveillance 10/02/2011 Unlicensed financial services/scams Indochine Nominees Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/indochine- nominees Surveillance 10/02/2011 Unlicensed financial services/scams Industrial Research Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/industrial- research-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Innova Equity Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/innova- equity-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Innovative Consulting Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/innovative- consulting-inc Surveillance 10/02/2011 Unlicensed financial services/scams Institutional Direct Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/institutional-direct Surveillance 10/02/2011 Unlicensed financial services/scams Interactive Trading Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/interactive- trading-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams InterGlobal Mergers & Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/interglobal- mergers-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Interglobal Trading Co Ltd / Interglobal Option Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Exchange an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/interglobal- trading-co-ltd-interglobal-option-exchange

Surveillance 10/02/2011 Unlicensed financial services/scams International Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-asset-management Surveillance 10/02/2011 Unlicensed financial services/scams International Association of Transfer Agents Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-association-of-transfer- agents Surveillance 10/02/2011 Unlicensed financial services/scams International Compliance Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-compliance-commission

Surveillance 10/02/2011 Unlicensed financial services/scams International Currency Advisors Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-currency-advisors RCD.0015.0003.0430

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams International Currency Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-currency-group Surveillance 10/02/2011 Unlicensed financial services/scams International Energy Exchange (INTENX) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-energy-exchange-intenx

Surveillance 10/02/2011 Unlicensed financial services/scams International Equities Registration Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-equities-registration Surveillance 10/02/2011 Unlicensed financial services/scams International Equity Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-equity-commission Surveillance 10/02/2011 Unlicensed financial services/scams International Equity Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-equity-inc Surveillance 10/02/2011 Unlicensed financial services/scams International Exchange Regulatory Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Commission an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-exchange-regulatory- commission Surveillance 10/02/2011 Unlicensed financial services/scams International Exchanges Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-exchanges-group Surveillance 10/02/2011 Unlicensed financial services/scams International Options Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-options-exchange Surveillance 10/02/2011 Unlicensed financial services/scams International Organization of Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Commission an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-organization-of-securities- commission Surveillance 10/02/2011 Unlicensed financial services/scams International Regulatory Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-regulatory-commission

Surveillance 10/02/2011 Unlicensed financial services/scams International Securities Tax Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-securities-tax-commission

Surveillance 10/02/2011 Unlicensed financial services/scams International Securities Verification Centre Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-securities-verification- centre Surveillance 10/02/2011 Unlicensed financial services/scams International Shareholder Agency Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/i/international-shareholder-agency Surveillance 10/02/2011 Unlicensed financial services/scams Intertrade Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/i/intertrade- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Goldberg & Partners Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goldberg- partners-inc RCD.0015.0003.0431

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Golden Medallion Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/golden- medallion-trading Surveillance 10/02/2011 Unlicensed financial services/scams Goldman Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goldman- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Goldman Sachs Asia Investment Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (Hong Kong) Limited an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goldman- sachs-asia-investment-management-hong- kong-limited Surveillance 10/02/2011 Unlicensed financial services/scams Goldstein Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goldstein- investments Surveillance 10/02/2011 Unlicensed financial services/scams Goodwin Capital Management Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/goodwin- capital-management-limited

Surveillance 10/02/2011 Unlicensed financial services/scams Grace Morley & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/grace- morley-associates Surveillance 10/02/2011 Unlicensed financial services/scams Grand Capital Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/grand- capital-inc Surveillance 10/02/2011 Unlicensed financial services/scams Grant Trust Company Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/grant-trust- company Surveillance 10/02/2011 Unlicensed financial services/scams Great Lakes Securities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/great-lakes- securities Surveillance 10/02/2011 Unlicensed financial services/scams Great Wall Capital (GWC) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/great-wall- capital-gwc Surveillance 10/02/2011 Unlicensed financial services/scams Greater Advisory Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/greater- advisory Surveillance 10/02/2011 Unlicensed financial services/scams Green Street Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/green- street-ventures Surveillance 10/02/2011 Unlicensed financial services/scams Greentree Financial Advisors Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/greentree- financial-advisors-inc Surveillance 10/02/2011 Unlicensed financial services/scams Griffin Mergers and Acquisitions Office Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/griffin- mergers-and-acquisitions-office Surveillance 10/02/2011 Unlicensed financial services/scams Guaranty Consolidated Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/guaranty- consolidated Surveillance 10/02/2011 Unlicensed financial services/scams Hamilton & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hamilton- associates RCD.0015.0003.0432

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Hamilton Frasier Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hamilton- frasier-group Surveillance 10/02/2011 Unlicensed financial services/scams Hanworth Weir Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hanworth- weir-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Harmon Bauer International Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/harmon- bauer-international-inc Surveillance 10/02/2011 Unlicensed financial services/scams Harrington Advisory Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/harrington- advisory-services Surveillance 10/02/2011 Unlicensed financial services/scams Harrison Lee Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/harrison- lee-partners Surveillance 10/02/2011 Unlicensed financial services/scams Heinz Osterkamp Wertpapierhandels GMBH Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/heinz- osterkamp-wertpapierhandels-gmbh Surveillance 10/02/2011 Unlicensed financial services/scams Helvetica Trust & Fiduciary Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/helvetica- trust-fiduciary-group Surveillance 10/02/2011 Unlicensed financial services/scams Hentsch & Müller (Hong Kong) Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hentsch- mueller-hong-kong-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Heritage Financial Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/heritage- financial-inc Surveillance 10/02/2011 Unlicensed financial services/scams Heritage Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/heritage- mergers-and-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Heron Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/heron- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Highreturninvestments.biz Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/h/highreturninvestmentsbiz Surveillance 10/02/2011 Unlicensed financial services/scams HIS Commodities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/his- commodities Surveillance 10/02/2011 Unlicensed financial services/scams HK Forex (HK) Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hk-forex- hk-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Hong Kong Financial Services Authority Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hong-kong- financial-services-authority Surveillance 10/02/2011 Unlicensed financial services/scams Hong Kong Financial Trading Authority Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (HKFTA) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hong-kong- financial-trading-authority-hkfta RCD.0015.0003.0433

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Hong Kong Futures and Options Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co (HKFOX) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/h/hong-kong- futures-and-options-exchange-hkfox

Surveillance 10/02/2011 Unlicensed financial services/scams First Reserve Co. Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- reserve-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams First Standard Consolidated Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- standard-consolidated Surveillance 10/02/2011 Unlicensed financial services/scams FL Lober Tax Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fl-lober-tax- consultants Surveillance 10/02/2011 Unlicensed financial services/scams Flagship Consolidated Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/flagship- consolidated Surveillance 10/02/2011 Unlicensed financial services/scams Fleetwood Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fleetwood- mergers-and-acquisitions

Surveillance 10/02/2011 Unlicensed financial services/scams Forbidden City Venture Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/forbidden- city-venture-capital Surveillance 10/02/2011 Unlicensed financial services/scams Foreign Currency International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/foreign- currency-international Surveillance 10/02/2011 Unlicensed financial services/scams Foreign Shareholders Protection Department Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/foreign- shareholders-protection-department

Surveillance 10/02/2011 Unlicensed financial services/scams Foreign Trade International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/foreign- trade-international Surveillance 10/02/2011 Unlicensed financial services/scams Forensic Financial Fraud Investigators Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/forensic- financial-fraud-investigators

Surveillance 10/02/2011 Unlicensed financial services/scams Fortress International, Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fortress- international-inc Surveillance 10/02/2011 Unlicensed financial services/scams Fortune International Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fortune- international-inc Surveillance 10/02/2011 Unlicensed financial services/scams Fox Chase Capital Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fox-chase- capital-partners Surveillance 10/02/2011 Unlicensed financial services/scams Freelander & Kuhn Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/freelander- kuhn RCD.0015.0003.0434

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Freeman Wealth Management Company Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/freeman- wealth-management-company

Surveillance 10/02/2011 Unlicensed financial services/scams Front Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/front- futures Surveillance 10/02/2011 Unlicensed financial services/scams Fukumoto, Toshihiro and Partners Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Trading (FTP) an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fukumoto- toshihiro-and-partners-futures-trading-ftp

Surveillance 10/02/2011 Unlicensed financial services/scams Gatestar Gaming Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gatestar- gaming-inc Surveillance 10/02/2011 Unlicensed financial services/scams Gaylord & Finch Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gaylord- finch Surveillance 10/02/2011 Unlicensed financial services/scams General Commerce Bank AG/ General Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Commerce Bank of Vienna an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/general- commerce-bank-ag-general-commerce-bank- of-vienna Surveillance 10/02/2011 Unlicensed financial services/scams Genius Investments Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/genius- investments Surveillance 10/02/2011 Unlicensed financial services/scams Gerson-Lehmann Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gerson- lehmann-inc Surveillance 10/02/2011 Unlicensed financial services/scams Gibson Petersen Company Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gibson- petersen-company-limited Surveillance 10/02/2011 Unlicensed financial services/scams Gilt Edged Equities LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/gilt-edged- equities-llc Surveillance 10/02/2011 Unlicensed financial services/scams Global Asset Partners Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- asset-partners-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Global Capital Group Mergers and Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Acquisitions an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- capital-group-mergers-and-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Global Direct Financial Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- direct-financial Surveillance 10/02/2011 Unlicensed financial services/scams Global Interactive Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- interactive Surveillance 10/02/2011 Unlicensed financial services/scams Global Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- management-inc Surveillance 10/02/2011 Unlicensed financial services/scams Global Option Trading Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- option-trading-co-ltd RCD.0015.0003.0435

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Global Options Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- options-group Surveillance 10/02/2011 Unlicensed financial services/scams Global Trade and Transfer Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- trade-and-transfer-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Global-Shopping.Net, Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/g/global- shoppingnet-inc Surveillance 10/02/2011 Unlicensed financial services/scams Dunhill Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dunhill- capital Surveillance 10/02/2011 Unlicensed financial services/scams E Go Trade Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/e-go-trade

Surveillance 10/02/2011 Unlicensed financial services/scams East Tech Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/east-tech- trading Surveillance 10/02/2011 Unlicensed financial services/scams East West Options Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/east-west- options-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Eastman Johnston Incorporated Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/eastman- johnston-incorporated Surveillance 10/02/2011 Unlicensed financial services/scams Edgewatercapital LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/e/edgewatercapital-llc Surveillance 10/02/2011 Unlicensed financial services/scams Electronic Capital Markets Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/electronic- capital-markets-limited Surveillance 10/02/2011 Unlicensed financial services/scams Elite Business Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/elite- business-management Surveillance 10/02/2011 Unlicensed financial services/scams Emirates Asset Management Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/emirates- asset-management-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Empire State Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/empire- state-consultants Surveillance 10/02/2011 Unlicensed financial services/scams Energy Climate International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/energy- climate-international Surveillance 10/02/2011 Unlicensed financial services/scams Eno Capital Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/eno-capital limited Surveillance 10/02/2011 Unlicensed financial services/scams Envirocell Systems Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/envirocell- systems-inc RCD.0015.0003.0436

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Equiasia Group Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/equiasia- group-limited Surveillance 10/02/2011 Unlicensed financial services/scams Equinox Equities Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/equinox- equities Surveillance 10/02/2011 Unlicensed financial services/scams European Consumer Protection Bureau Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/european- consumer-protection-bureau

Surveillance 10/02/2011 Unlicensed financial services/scams Evergreen Consulting Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/evergreen- consulting-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Evolution Market Group Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/evolution- market-group-inc Surveillance 10/02/2011 Unlicensed financial services/scams Extensa Financial Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/e/extensa- financial-services Surveillance 10/02/2011 Unlicensed financial services/scams Fairchild Roth Financial Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fairchild- roth-financial-inc Surveillance 10/02/2011 Unlicensed financial services/scams Fidelity Corporate Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fidelity- corporate-services Surveillance 10/02/2011 Unlicensed financial services/scams Financial Assets Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- assets-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Financial Services Regulator of Hong Kong Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- services-regulator-of-hong-kong

Surveillance 10/02/2011 Unlicensed financial services/scams Financial Trading Group International S.A. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/financial- trading-group-international-sa

Surveillance 10/02/2011 Unlicensed financial services/scams FinAxa Settlements Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/finaxa- settlements Surveillance 10/02/2011 Unlicensed financial services/scams Fintrade Advisors Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/fintrade- advisors-inc Surveillance 10/02/2011 Unlicensed financial services/scams First Atlantic Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- atlantic-corporation Surveillance 10/02/2011 Unlicensed financial services/scams First Chartered Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- chartered-capital Surveillance 10/02/2011 Unlicensed financial services/scams First Colonial Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- colonial-management RCD.0015.0003.0437

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams First Equis Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-equis- limited Surveillance 10/02/2011 Unlicensed financial services/scams First Euro Trading Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-euro- trading-group Surveillance 10/02/2011 Unlicensed financial services/scams First Federal Capital Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-federal capital Surveillance 10/02/2011 Unlicensed financial services/scams First Independent Capital Resources Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- independent-capital-resources-inc Surveillance 10/02/2011 Unlicensed financial services/scams First National Financial Group Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first- national-financial-group-inc Surveillance 10/02/2011 Unlicensed financial services/scams First New York Securities LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/f/first-new- york-securities-llc Surveillance 10/02/2011 Unlicensed financial services/scams Chicago Tax Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chicago-tax services Surveillance 10/02/2011 Unlicensed financial services/scams Churchill Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/churchill- acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams CitiFund Asset Management Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/citifund- asset-management-inc Surveillance 10/02/2011 Unlicensed financial services/scams Clanvale Securities, S.A. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/clanvale- securities-sa Surveillance 10/02/2011 Unlicensed financial services/scams Classic Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/classic- consultants Surveillance 10/02/2011 Unlicensed financial services/scams Clearwater Commodities Futures and Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Commodities Trading Brokerage an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/clearwater- commodities-futures-and-commodities- trading-brokerage Surveillance 10/02/2011 Unlicensed financial services/scams Cogan Davis & Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cogan- davis-associates Surveillance 10/02/2011 Unlicensed financial services/scams Cohen & Nesbit Group Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cohen- nesbit-group-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Collwood & Hall, Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/collwood- hall-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Commodities Futures Trading Commission Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/commodities-futures-trading- commission RCD.0015.0003.0438

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Commodity and Currency Global Co Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/commodity- and-currency-global-co-limited

Surveillance 10/02/2011 Unlicensed financial services/scams Commonwealth Monetary Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/c/commonwealth-monetary-group Surveillance 10/02/2011 Unlicensed financial services/scams Comstock Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/comstock

Surveillance 10/02/2011 Unlicensed financial services/scams Crawford Peale, Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/crawford- peale-inc Surveillance 10/02/2011 Unlicensed financial services/scams Crest International Investment Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/crest- international-investment-inc Surveillance 10/02/2011 Unlicensed financial services/scams Crowne Noble TA Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/crowne- noble-ta Surveillance 10/02/2011 Unlicensed financial services/scams Dachser Global Markets Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dachser- global-markets Surveillance 10/02/2011 Unlicensed financial services/scams Dallas International Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dallas- international-trading Surveillance 10/02/2011 Unlicensed financial services/scams Dartmouth Financial Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dartmouth- financial-inc Surveillance 10/02/2011 Unlicensed financial services/scams Davis Goldberg Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/davis- goldberg-group Surveillance 10/02/2011 Unlicensed financial services/scams Davis Hunt Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/davis-hunt

Surveillance 10/02/2011 Unlicensed financial services/scams Dawson Turner Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dawson- turner Surveillance 10/02/2011 Unlicensed financial services/scams DB Trust Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/db-trust

Surveillance 10/02/2011 Unlicensed financial services/scams Dearborn International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dearborn- international Surveillance 10/02/2011 Unlicensed financial services/scams Diligent Solutions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/diligent- solutions Surveillance 10/02/2011 Unlicensed financial services/scams Direct Generations Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/direct- generations RCD.0015.0003.0439

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Diversified Capital International Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/diversified- capital-international-corporation

Surveillance 10/02/2011 Unlicensed financial services/scams Diversified Global Capital Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/diversified- global-capital-group Surveillance 10/02/2011 Unlicensed financial services/scams Diversified Investments Group Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/diversified- investments-group-inc Surveillance 10/02/2011 Unlicensed financial services/scams Dongyin Futures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dongyin- futures Surveillance 10/02/2011 Unlicensed financial services/scams Douglas Baker & Co Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/douglas- baker-co Surveillance 10/02/2011 Unlicensed financial services/scams Dreyfus Securities Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dreyfus- securities-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Dubai Options Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dubai- options-exchange Surveillance 10/02/2011 Unlicensed financial services/scams Dublin Castle Investments Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dublin- castle-investments-inc Surveillance 10/02/2011 Unlicensed financial services/scams Duke's & Company Securities Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/d/dukes- company-securities-inc Surveillance 10/02/2011 Unlicensed financial services/scams Berkley Sinclair Partners and Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/berkley- sinclair-partners-and-associates

Surveillance 10/02/2011 Unlicensed financial services/scams Berline Overseas Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/berline- overseas-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Bernstein & Zeiglier Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bernstein- zeiglier Surveillance 10/02/2011 Unlicensed financial services/scams Birchtree Financial Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/birchtree- financial-services Surveillance 10/02/2011 Unlicensed financial services/scams Blaine & Thompson S.A Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/blaine- thompson-sa Surveillance 10/02/2011 Unlicensed financial services/scams Blane & Blanchett Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/blane- blanchett-inc Surveillance 10/02/2011 Unlicensed financial services/scams Blue Sky Solutions Pty Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/blue-sky- solutions-pty-ltd RCD.0015.0003.0440

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Boston Global Finance Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/boston- global-finance-inc Surveillance 10/02/2011 Unlicensed financial services/scams Bosum Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bosum- limited Surveillance 10/02/2011 Unlicensed financial services/scams Bradford-Kempner Investments Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bradford- kempner-investments-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Bradstone Healy & Pratt Mergers and Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Acquisitions / 'BHP Mergers an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bradstone- healy-pratt-mergers-and-acquisitions-bhp- mergers Surveillance 10/02/2011 Unlicensed financial services/scams Breakthrough Venture Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies- list/b/breakthrough-venture-partners Surveillance 10/02/2011 Unlicensed financial services/scams Brett Commodities GMBH Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/brett- commodities-gmbh Surveillance 10/02/2011 Unlicensed financial services/scams Bridgway First Hand Trading Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bridgway- first-hand-trading-inc Surveillance 10/02/2011 Unlicensed financial services/scams Brooks Pearson Investment Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/brooks- pearson-investment-limited

Surveillance 10/02/2011 Unlicensed financial services/scams Bureau of Foreign Security Affairs Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bureau-of- foreign-security-affairs Surveillance 10/02/2011 Unlicensed financial services/scams C&C Trading LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cc-trading- llc Surveillance 10/02/2011 Unlicensed financial services/scams Cambridge Capital Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cambridge- capital-trading Surveillance 10/02/2011 Unlicensed financial services/scams Cambridge Consulting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cambridge- consulting Surveillance 10/02/2011 Unlicensed financial services/scams Capital Advisory Corporation Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- advisory-corporation Surveillance 10/02/2011 Unlicensed financial services/scams Capital Assets Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- assets-limited Surveillance 10/02/2011 Unlicensed financial services/scams Capital Consultants Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- consultants Surveillance 10/02/2011 Unlicensed financial services/scams Capital Marketing Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/capital- marketing-services RCD.0015.0003.0441

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Castle Gate Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/castle-gate- trading Surveillance 10/02/2011 Unlicensed financial services/scams Cathay Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/cathay- asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Center Capital Trading ('CCT') Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/center- capital-trading-cct Surveillance 10/02/2011 Unlicensed financial services/scams Central Registry Regulators Board Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/central- registry-regulators-board Surveillance 10/02/2011 Unlicensed financial services/scams Charles Fleming Co Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/charles- fleming-co-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Chase Capital Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chase- capital-inc Surveillance 10/02/2011 Unlicensed financial services/scams Chelsea Commercial Brokerage House Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chelsea- commercial-brokerage-house

Surveillance 10/02/2011 Unlicensed financial services/scams Chicago Accounting Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chicago- accounting Surveillance 10/02/2011 Unlicensed financial services/scams Chicago Board of Acquisition, Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/c/chicago- board-of-acquisition-inc Surveillance 10/02/2011 Unlicensed financial services/scams A M Global Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/a-m-global- management Surveillance 10/02/2011 Unlicensed financial services/scams A Nova Corporate Services / Anova Corporate Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Services an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/a-nova- corporate-services-anova-corporate-services

Surveillance 10/02/2011 Unlicensed financial services/scams Allied Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/allied-asset management Surveillance 10/02/2011 Unlicensed financial services/scams Allied International Investment Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/allied- international-investment-limited Surveillance 10/02/2011 Unlicensed financial services/scams Allied Pacific Ventures Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/allied- pacific-ventures Surveillance 10/02/2011 Unlicensed financial services/scams Allied Sovereign Zurich Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/allied- sovereign-zurich Surveillance 10/02/2011 Unlicensed financial services/scams American Energy Exchange (AMENX) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/american- energy-exchange-amenx RCD.0015.0003.0442

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams American Futures and Options Exchange Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/american- futures-and-options-exchange

Surveillance 10/02/2011 Unlicensed financial services/scams American Futures and Options Trading Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co Commission an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/american- futures-and-options-trading-commission

Surveillance 10/02/2011 Unlicensed financial services/scams American Heritage Stock Transfer Inc. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/american- heritage-stock-transfer-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Annex International Mergers and Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/annex- international-mergers-and-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams Apollo Impex General Trading LLC Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/apollo- impex-general-trading-llc Surveillance 10/02/2011 Unlicensed financial services/scams Aqua Securities L.P Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aqua- securities-lp Surveillance 10/02/2011 Unlicensed financial services/scams Aragon Currency Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aragon- currency-management Surveillance 10/02/2011 Unlicensed financial services/scams Argus Capital Limited Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/argus- capital-limited Surveillance 10/02/2011 Unlicensed financial services/scams Asian Pacific Advisors Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/asian- pacific-advisors-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Associated Financial Services Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/associated- financial-services Surveillance 10/02/2011 Unlicensed financial services/scams Atlantic International Partners Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/atlantic- international-partners Surveillance 10/02/2011 Unlicensed financial services/scams Atlas Capital Corp Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/atlas- capital-corp Surveillance 10/02/2011 Unlicensed financial services/scams Barrington Capital Ventures Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/barrington- capital-ventures-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Barrington Consultants Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/barrington- consultants-inc Surveillance 10/02/2011 Unlicensed financial services/scams Baxter Financial Group Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/baxter- financial-group Surveillance 10/02/2011 Unlicensed financial services/scams Baycorp International Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/b/baycorp- international RCD.0015.0003.0443

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams Beacon Global Management Inc. Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/beacon- global-management-inc Surveillance 10/02/2011 Unlicensed financial services/scams Beijing International Research Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/beijing- international-research Surveillance 10/02/2011 Unlicensed financial services/scams Bell International Asset Management Engaging in a credit activity without a credit licence. Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bell- international-asset-management Surveillance 10/02/2011 Unlicensed financial services/scams Benson Dupont International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/benson- dupont-international Surveillance 10/02/2011 Unlicensed financial services/scams Benson Futures Ltd Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/benson- futures-ltd Surveillance 10/02/2011 Unlicensed financial services/scams Berchmans Lee Company Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/berchmans- lee-company-inc Surveillance 10/02/2011 Unlicensed financial services/scams Bergues Invest Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/bergues- invest Surveillance 10/02/2011 Unlicensed financial services/scams Berkeley Samson International Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/b/berkeley- samson-international Surveillance 10/02/2011 Unlicensed financial services/scams Abbey House Acquisitions Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/abbey- house-acquisitions Surveillance 10/02/2011 Unlicensed financial services/scams AC Capital Venture Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/ac-capital- venture Surveillance 10/02/2011 Unlicensed financial services/scams Accounting and Tax Planners of NY Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/accounting- and-tax-planners-of-ny-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Adderley Davis and Associates Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/adderley- davis-and-associates Surveillance 10/02/2011 Unlicensed financial services/scams Advantage Securities Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/advantage- securities-inc Surveillance 10/02/2011 Unlicensed financial services/scams Advent-Oriental Asset Management Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/advent- oriental-asset-management

Surveillance 10/02/2011 Unlicensed financial services/scams Advisor Dealer Services Inc (ADS Inc.) Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/advisor- dealer-services-inc-ads-inc

Surveillance 10/02/2011 Unlicensed financial services/scams Aedan Investment Mortgage Inc Carrying on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSL mpanies-you-should-not-deal- with/unlicensed-companies-list/a/aedan- investment-mortgage-inc RCD.0015.0003.0444

Public Results & Reports

Surveillance 10/02/2011 Unlicensed financial services/scams k ro Tech Turbines Carry;ng on a financial services business in Australia without Added to unlicensed companies list https //www.moneysmart.gov.au/scams/co an AFSl mpanies--you.should-not-deal· with/unlicensed-

Surveillance 7/ 07/2017 Funds ma nagement - Other Kwickie International Ud ASIC is aware that, in certain recent fundraising5, some ASIC has made a declaration, to putthe issue 17-??BM R A$fC takep rtjpo gyer mjs•KC pf ~ accountants have used trust or company structures that beyond doubt, that Kwid:ie lnternatk>nal Ud 'wnMsticatgd jgyestgr' rertjfigtes pu.rport to all ow investors who are not 'sophisticated shares may not be offered to retail investors investors' to receive offers to purchase shares without a through a trust structure prospectus or other disclosure doOJment. This has recently occurred in re lation to offers of shares by Kwickie lnte-mational Limited. Formal investigation {an investigation 2/07/2014 Misconduct in OTC Markets Newcrest Mining Contravention of continuous disclosure obligations. $1.2milion civil penalty 14-148MR Newcrest ordered to eay $1.2 14-148MR commenced pursua nt to s13 ASK Act or s247 million for breaching continuous disclosure NCCP Act\ Formal investigation (an investigation 4/fJB./2016 Misconduct in OTC Markets rrtantrade Unlicensed financial services conduct PublicWaming l§.24§MR A$fCwamsipyegprp Mut ~ comme nced pursua nt to s13 ASIC Act or s247 Titantrade.com NCCP Act' Surveil lance 15/12/2015 Funds management - Superan.nuation Mark Lionel Tidbury Recommended d ie nts switch to a different superannuation Banned from providing financial services for 1S-383MR ASIC bans former Meritum product in circumstances where there was little benefit but six years. f inancial Group adviser significant additional cost to the d ient in switching

Surveillance 20/09/2011 Financial AcMsers - Insurance advice Phillip John Kingston Convicted of fraud offences Perma nently banned from prcMding fi nancial 11-?Q§AQ ASrc haps Tasmanian inwraoce ~ services. a ge nt W!!gwjw fra1!d cgpyjrtkm RCD.0015.0003.0445

Public Results & Reports

Surveillance 7/05/2012 Financial Advisers - Insurance advice Southpoint Insurance Brokers Pty Ltd ASIC found it had breached its legal obligations and licence AFSL suspended 12-88MR ASIC suspends financial services 12-88MR conditions by failing to licence of New South Wales insurance broker

• maintain sufficient base level financial requirements to pay all debts as and when they become due; • hold at least $50,000 in surplus liquid funds when holding client money or property over $100,000; • operate the trust account in accordance with financial services laws; and • lodge financial statements and auditors reports by the due date Surveillance 8/01/2013 Financial Advisers - Compliance & Cabot Square Financial Planning Pty Ltd Cabot Square's licence was suspended after it failed to comply AFSL suspended - seven months 13-001MR ASIC suspends financial services 13-001MR supervision with the financial services laws by licence of Sydney based financial planning business • failing to comply with the requirement to lodge with ASIC its annual profit and loss statement and balance sheet, together with an auditor's report for each financial year from 2008 to 2011, and • failing to advise ASIC in writing, within 10 business days, of becoming aware of this significant breach. Surveillance 6/02/2013 Financial Advisers - Compliance & AAA Financial Intelligence and AAA Shares AAA Financial Intelligence and AAA Shares were found to have AFSL - Cancelled 13-019MR ASIC cancels licences of national 13-019MR supervision comprehensively and repeatedly failed to comply with the financial planning business Corporations Act 2001 and the conditions of its AFS licence.