ASIC has permanently banned Mr Bradley Thomas Sherwin, former Chairman of collapsed lender Wickham Securities and founder of Sherwin Financial Planners Pty Ltd (in liquidation), from providing financial services. 

ASIC had previously banned Mr Sherwin in September 2013 for two years and seven months.

Prior to making its decision, ASIC sought submissions from Mr Sherwin as to why he should not be banned. He chose not to make any submissions.

Background

On 4 September 2013, ASIC banned Mr Sherwin for a period of two years and seven months, being the remaining period of his bankruptcy unless extended by his trustee in bankruptcy.  (Refer: 13-247MR)

On 25 June 2015, Mr Sherwin appeared in Brisbane Magistrates Court, charged with 33 counts of dishonestly causing detriment totalling nearly $10 million between May 2009 and December 2012 and one count of dishonestly breaching his duties as a director of Wickham Securities Limited between November 2009 and October 2010.  Mr Sherwin is due to appear in the Brisbane Magistrates Court on 20 June 2016 for a committal hearing date. (Refer: 15-158MR)

A comprehensive overview of ASIC's investigation into the Sherwin Group of Companies, Bank of Queensland and DDH Graham Ltd can be found on ASIC's website.