AAT upholds ASIC decision to refuse an application for a limited AFS licence
The Administrative Appeals Tribunal (AAT) has affirmed ASIC’s decision to refuse to grant a limited Australian financial services (AFS) licence to Superannuation Warehouse Australia Pty Ltd (SWA). On 31 January 2019, the AAT found that the sole director and nominated Responsible Manager of SWA, Mr Johann Heinrich Preller, failed to demonstrate: an adequate understanding of …
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