ActiveSuper

Federal Court issues financial services bans over ActiveSuper

ASIC v ActiveSuper, bans providing financial servicesThe Federal Court of Australia has issued lifetime bans from providing financial services for two people involved in ActiveSuper.

“The Federal Court today delivered its judgement relating to declarations and bannings against Gold Coast businessman Craig Gore and other individuals for misusing more than $4 million raised from self-managed superannuation fund (SMSF) investors,” said ASIC in response to the ruling.

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ASIC seeks lifetime financial services bans for ActiveSuper

ASIC, ActiveSuper, lifetime ban providing financial servicesASIC has sought lifetime bans from providing financial services for some of the people associated with the company ActiveSuper, “following their involvement in the misuse of more than $4 million raised from self-managed superannuation fund (SMSF) investors.”

ASIC has sought, in a submission to the Federal Court, declarations of contraventions and banning orders ranging from 7.5 years to permanent bans for some participants.

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