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20-295MR ASIC takes Federal Court action to enforce compliance with enforceable undertaking
ASIC has commenced civil proceedings in the Federal Court against Gold Coast-based accountant, Jenan Oslem Thorne (also known as Cenan Thorne or Cenan Dikmen) of Saber Superannuation Pty Ltd.
ASIC alleges Ms Thorne failed to comply with the terms of a court enforceable undertaking (EU) previously entered with ASIC. The EU relevantly required Ms Thorne to:
- provide information, including a copy of ASIC’s media release 19-034MR, to each client that she had provided personal advice to while an authorised representative of SMSF Advice Pty Ltd; and
- notify ASIC in writing whether she had written to each client as required.
ASIC alleges that Ms Thorne took deliberate steps to reduce the likelihood that her clients would receive the written information required by the EU. For example, ASIC alleges Ms Thorne directed that the letters not be sent to some clients that had made complaints about the company and other letters be sent to client addresses from expired driver’s licenses.
ASIC is seeking orders from the Federal Court directing Ms Thorne to comply with the relevant terms of the EU.
On 13 February 2019, ASIC accepted a court enforceable undertaking (EU) from Ms Thorne preventing her from providing financial services for a period of three years (19-034MR). This followed an ASIC investigation that found that she had failed to act in the best interests of her clients and had prioritised her own interests above her clients’ interests.
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The matter has been listed for a case management hearing on 16 February 2021.