ASIC has permanently banned Desiree Veronica Macpherson from providing financial services.

ASIC found that in relation to Ms Macpherson’s involvement with the development and promotion of the Newman Estate Project in the Pilbara region of Western Australia that Ms Macpherson had engaged in misleading and deceptive conduct, that she was not of good fame or character, that she had engaged in dishonest conduct and that she was involved in a contravention of financial services laws.

Ms Macpherson has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.

ASIC’s investigation is ongoing.

Editor's note:

On 16 July 2018 the Federal Court made orders by consent discharging the interim orders restraining Ms Mcpherson from providing financial services advice, promoting financial products and/or otherwise carrying on a financial services business.

Ms Macpherson was permanently banned by ASIC from providing financial services on 31 May 2018.

The ASIC investigation is ongoing. 

The liquidator of the Macro Group of Companies received funding from ASIC via the Assetless Administration Fund to prepare a detailed report on its investigation into the companies.