ASIC has suspended Melbourne-based credit licensee Peter Wormington for a period of four months and cancelled the Australian credit licence of Melbourne-based Emmanuel Katsoulis.
Mr Wormington had been expelled from the Australian Financial Complaints Authority due to non-payment of fees and has failed to pay industry funding levies owed to ASIC.
Mr Wormington’s licence suspension took effect on 11 October 2024.
Mr Katsoulis failed to lodge various annual compliance certificates (ACCs) and had failed to pay industry funding levies owed to ASIC.
Mr Katsoulis’ licence cancellation took effect on 4 October 2024.
The Licensees have a right to apply to the Administrative Review Tribunal for a review of ASIC’s decision.
