ASIC has permanently banned a former Sydney finance broker from engaging in credit activities and providing financial services.
The banning follows an ASIC investigation and criminal action against the finance broker, Jennifer Farias of Elderslie, who pleaded guilty in Sydney's Downing Centre Local Court to three charges of loan fraud.
ASIC's deputy chairman Peter Kell said: "ASIC's action in this matter demonstrates how serious we are about tackling loan fraud. We won't hesitate to take action against dishonest brokers who falsify documents and remove them from the industry."
Ms Farias has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
More to come.