ASIC has banned WA director Mr Richard Philip Lambe from providing any financial services for a period of three years.

ASIC found that Mr Lambe as a director of Anquan Securities & Investments Pty Ltd and key person and responsible manager on its Australian financial services licence, in relation to the Newman Estate Project, was not actively engaged in supervising the conduct of 511 GTN Pty Ltd and Desiree Veronica Macpherson and was likely to contravene a financial services law.

The banning orders for Mr Lambe have been recorded on ASIC’s publicly available Banned and Disqualified Persons Register.

Mr Lambe has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Background

ASIC’s investigation into Mr Lambe’s conduct was part of an ongoing investigation into the Macro Group of Companies.

ASIC actions to date as a result of the investigation into the Macro Group of Companies have included applications to the Federal Court, resulting in the appointment of liquidators to 24 companies within the Macro Group (17-041MR) and (17-240MR), the permanent banning of Veronica Macpherson from providing financial services (18-165MR) and the cancellation of Rochelle Anne Weinert’s credit licence (19-138MR).

 

Published by Australian Securities & Investments Commission. Reproduced with permission.