Aggregated News From Investment Management Regulators

ASIC permanently bans Melbourne former responsible manager from providing financial services


Please complete the required fields.

ASIC has permanently banned former responsible manager Anthony ‘Tony’ David Wynd of Melbourne from providing financial services.

Mr Wynd was the sole director and responsible manager of Financial Circle Pty Ltd (Financial Circle), a financial services and credit business ordered by the Federal Court to pay $8,980,000 in total penalties after contravening financial services, credit and consumer protection laws ().

ASIC determined a permanent ban from the provision of financial services was appropriate given Mr Wynd’s position at Financial Circle, his connection to that misconduct, the seriousness of that misconduct and the likelihood that Mr Wynd would contravene a financial services law in the future.

The permanent banning took effect from 13 August 2019. On 15 August 2019, Mr Wynd applied to the Administrative Appeals Tribunal (AAT) for a review of ASIC’s decision to permanently ban him from providing financial services. At that time, Mr Wynd also applied for a stay of ASIC’s decision from taking effect and a stay of ASIC issuing a media release regarding ASIC’s financial services banning decision.

On 1 November 2019, the AAT refused Mr Wynd’s application for a stay of ASIC’s financial services banning decision from taking effect. However, the AAT made orders prohibiting ASIC from publishing ASIC’s decision to permanently ban Mr Wynd from providing financial services until further order of the AAT.

On 13 May 2020, Mr Wynd withdrew his application to the AAT for a review of ASIC’s decision to permanently ban him from providing financial services.

On 22 June 2020, the AAT made orders vacating the prohibition on ASIC publishing its financial services banning decision.

The banning has been recorded on ASIC’s publicly available Banned and Disqualified Persons Register.


Mr Wynd was the responsible manager of Financial Circle from 4 August 2017 to 19 November 2018.

Financial Circle’s Australian financial services licence (AFSL) was cancelled on 19 November 2018 ().

Source link

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

SEC Seeks Emergency Relief to Ensure Binance.US Customers’ Assets are Protected

The Securities and Exchange Commission today filed an emergency action application seeking a temporary restraining order freezing assets, directing defendants to repatriate assets held for the benefi | HOME

The Ombudsman will listen to your inquiries, complaints, and issues, review the information you provide, and help identify procedures, options, and resources.

SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency

Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program. The Securities and Exchange Commission today charged Coinbase, Inc.

ESMA publishes follow-up report to the peer review on the Guidelines on ETFs and other UCITS issues

See the content published by the European Securities and Markets Authority (ESMA) here: Read more

Get the latest from Regulatory.News in your inbox!