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16-003MR ASIC bans ACI Broking WA director for four years
ASIC has banned Mr Wayne Robert Miller from providing financial services for four years.
The banning comes after ASIC cancelled the Australian Financial Services Licenses for ACI Broking (WA) Pty Ltd and related entities. (Refer: 15-274MR)
Mr Miller was at the relevant time the sole director, key person and responsible officer for ACI Broking WA and related entities.
ASIC banned Mr Miller after finding he was involved in contraventions of financial services laws by ACI Broking WA and related entities, including the failure to lodge audited financial accounts for FY2013 and FY2014 within the required timeframe and the failure to report this breach to ASIC.
ASIC Commissioner John Price said: 'Directors, key persons and responsible managers of Licensees should have an appropriate compliance culture. ASIC will act to remove people from the insurance industry that fail to discharge the duties and obligations imposed upon them by the financial services laws.'
Mr Miller has the right to seek a review of ASIC's decision at the Administrative Appeals Tribunal.