Wilkins v ASIC – SMSF loans applications in wrong name: mortgage broker’s ban reduced by AAT from 3 years to 18 months as not dishonest

ASIC banned a NSW Mortgage broker from providing financial services – as a result of applying for 60 SMSF loans in the wrong name. The ban was for 3 years but the AAT reduced that to 18 months.

See below for further details about the wrongdoing and the result.

FJM 28.8.19

[Tax Month – August 2019]