The Australian Securities and Investments Commission (ASIC) has permanently banned Mr Robert Pierre Macville, of Maroochydore in Queensland, from providing financial services.

Mr Macville was formerly employed as an authorised representative of Mawson Securities Pty Ltd. On 29 March 2004, Mawson Securities Pty Ltd terminated his employment for failing to comply with the provisions of its Australian financial services licence. Mawson Securities Pty Ltd referred the matter to ASIC.

‘ASIC will act quickly to remove participants from the financial services industry who fail to comply with the law when dealing with client funds’, ASIC’s Deputy Executive Director of Enforcement, Mr Allen Turton said.

Mr Macville has the right to lodge an application with the Administrative Appeals Tribunal for a review of ASIC’s decision.

Background

In June 2005, Mr Macville was charged with six counts of fraud, laid by ASIC, for allegedly redirecting the funds of Mawson Securities Pty Ltd clients, totalling $467,432 into his own private company Macville & Gibson Holdings Pty Ltd. It is alleged Mr Macville redirected the funds between March 2001 and July 2003.

This matter is being prosecuted by the Commonwealth Director of Public Prosecutions and has been adjourned until 27 October 2005 in Maroochydore Magistrates Court. Mr Macville has been released on bail, and required to surrender his passport.