ASIC has permanently banned Jeffry Leonard Gordon, a Brisbane-based finance broker from engaging in credit activities.
An ASIC investigation found that Mr Gordon knowingly or recklessly gave a false letter to a client stating that they had formally been approved for a home loan with St George. At the time, there was no home loan application lodged on the client’s behalf with St George.
ASIC also found that Mr Gordon failed to comply with his obligations under the National Credit Act by failing to:
give effect to a determination made by the Australian Financial Complaints Authority (AFCA, formerly known as the Credit and Investment Ombudsman), that required Mr Gordon to pay an amount to the complainants;
lodge an annual compliance certificate;
maintain a trust account; and
comply with a condition of his licence, by not notifying ASIC of a change in an approved external dispute resolution scheme.
Mr Gordon’s permanent banning is effective from 29 July 2020.
The banning will be recorded on ASIC’s publicly available Banned and Disqualified Persons Register.
Mr Gordon has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
