Three directors connected to the Sterling Income Trust are facing criminal charges over the collapsed property investment and management group s schemes.
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