On 11 June 2023, the Federal Court made interim travel restraint orders against Kristofer Ridgway, a Brisbane-based former financial adviser.
These orders were made on an ex parte basis without Mr Ridgway’s presence following an ASIC application. ASIC is concerned Mr Ridgway may have contravened financial services laws and requires Mr Ridgway to remain in Australia while it investigates his conduct.
The 11 June 2023 orders required Mr Ridgway to deliver his passport to the Brisbane Registry of the Federal Court.
On 14 June 2023, the Court ordered by consent between ASIC and Mr Ridgway that, until 16 December 2023:
- Mr Ridgway be restrained from leaving or attempting to leave Australia, and
- all passports and airline tickets delivered by Mr Ridgway to the Registry be held by the Registry.
ASIC’s investigation into Mr Ridgway is ongoing.
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Background
Earlier this year, ASIC permanently banned Mr Ridgway from having any involvement in financial services. ASIC determined a permanent ban was necessary due to concerns that Mr Ridgway is not a fit and proper person to provide financial services, is not adequately trained or competent to provide financial services, and is likely to contravene financial services law (23-095MR).
Mr Ridgway’s banning is recorded on ASIC’s banned and disqualified register.
Editor's note:
On 16 December 2023, the travel restraint orders expired, but were effectively replaced by bail conditions following Mr Ridgway’s court appearance for allegedly providing false or misleading information to ASIC (23-342MR).