An article on the SMSF Adviser talks about ASIC’s civil action against Active Super and the corporate regulator’s pursuit of a contravention declaration, added to a banning order against a Gold Coast businessman. If ASIC has its way, Craig Gore and a few others will be restrained from offering any financial services for a period ranging from 7 years up to a lifetime. The indictment on Mr. Gore is fraudulent involvement in $4 million raised from investors in the ‘self-managed’.
The ground ASIC lays can be read out simply. Mr. Gore has offered financial services without holding an AFSL license and this amounts to unlicensed conduct and passage of misleading information.
You can read the original article here.