Aggregated News From Investment Management Regulators

ASIC bans New South Wales mortgage broker and cancels company credit licence

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ASIC has banned Bonnyrigg Heights mortgage broker Nee Tanner from engaging in credit activities for five years. ASIC has also cancelled the credit licence of NT Financial Services Pty Ltd (NTFS), for which Ms Tanner was sole director and responsible manager.

ASIC found Ms Tanner was reckless in providing documents in support of home loan applications that were false in a material particular or materially misleading. Several documents Ms Tanner submitted to lenders to demonstrate employment or income, in support of home loan applications, were found to be false.

Mortgage brokers and credit licensees must act diligently and comply with the credit legislation.

Ms Tanner’s banning is recorded on ASIC’s Banned and Disqualified Persons Register.

Ms Tanner and NTFS have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

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Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

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