ASIC slaps extended ban on collapsed firm’s managing director
ASIC slaps extended ban on collapsed firm’s managing director
The corporate regulator has used its enhanced banning powers to restrict the former head of a collapsed asset manager from financial services in any capacity.
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Robert Marie, the ex-managing director and responsible manager of Theta Asset Management has received the ban. He has also been banned from controlling an entity that carries on a financial services business and from performing any function involved in the carrying on of a financial services business in any capacity.
Theta Asset Management, which is now in liquidation, is the responsible entity of the Sterling Income Trust (SIT). The registered managed investment scheme was placed into external administration in 2019.
ASIC has slapped the former managing director of a collapsed firm with a ban, prohibiting him from providing any financial services for four years. Robert Marie, the ex-managing director and resp
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Former managing director of responsible entity of Sterling Income Trust banned for four years
ASIC has banned Mr Robert Patrick Marie for four years from providing any financial services. Mr Marie has also been banned from controlling an entity that carries on a financial services business and from performing any function involved in the carrying on of a financial services business in any capacity.
Mr Marie was the former managing director and responsible manager of Theta Asset Management Ltd (In Liquidation) (Theta), the Responsible Entity of the Sterling Income Trust (SIT). The SIT, a registered managed investment scheme, was placed into external administration in 2019.