ASIC has permanently banned a Victoria-based mortgage broker after she failed to disclose a past criminal conviction while applying for an ACL.
The banning of Ermelia Suzanne Snoeks follows an ASIC investigation that found that Ms Snoeks failed to disclose a past criminal conviction in an application for an Australian credit licence by NBG Financial Pty Ltd (NBG), a company for which Ms Snoeks is the director.
The regulator found that the broker had lodged a false document in support of her being a fit and proper person in NBG’s Australian credit licence application and had previously been involved in false correspondence misrepresenting the fate of money and in respect of her purportedly being legally represented.
According to ASIC, Ms Snoeks also failed to disclose in an annual compliance certificate that NBG has ceased to be a member of an external dispute resolution scheme.
It was therefore determined that Ms Snoeks had contravened credit legislation and was not a fit and proper person to engage in credit activities or provide financial services to consumers.
NBG held an Australian credit licence between March 2011 and September 2016.
ASIC deputy chairman Peter Kell said: “We expect information in support of a credit or financial services licence application to be truthful and contain all relevant material for us to assess an applicant’s suitability to be authorised.
“Anyone who provides information that is false and incomplete, and designed to circumvent the safeguards in the licensing process, shows blatant disregard for the law. We will take steps to remove such a person from the industry.”
Ms Snoeks has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.