The Australian Securities and Investments Commission (ASIC) has permanently banned Mr Rene Walter Rivkin from providing any financial services.

ASIC found that, due to Mr Rivkin’s current medical illness supported by medical evidence, he is unlikely to have the capacity to ensure that he complies with financial services laws.

As a result, ASIC is satisfied there is reason to believe he will not comply with a financial services law in the future.

Mr Rivkin was the holder, under the former licensing regime, of a dealers licence and a proper authority from Tarfaya Nominee Pty Limited, which published The Rene Rivkin Report.

As a result of the permanent ban, Mr Rivkin is excluded from the financial services industry.

Mr Rivkin has the right to appeal to the Administrative Appeals Tribunal (AAT) for a review of ASIC’s decision.

ASIC will not be making any further comment regarding this matter at this time.

Background

Following Mr Rivkin’s conviction and sentencing, in May 2003, on one count of insider trading, ASIC stated that it would review the status of his position within the financial services industry. That review was deferred as a result of Mr Rivkin’s medical condition.