Date Time
ASIC bans director of Global Merces Funds Management Ltd
ASIC has banned Holly Marie Grofski, the director of Global Merces Funds Management Ltd (Global Merces), for a period of six months.
ASIC’s banning order prohibits Ms Grofski from controlling, whether alone or together with others, any company or other entity that carries on a financial services business until 28 October 2021.
An ASIC surveillance found that Ms Grofski was involved in Global Merces’ failure to comply with its Australian financial services (AFS) licence conditions. Global Merces failed to replace key persons named on its licence, to meet its and to meet notification requirements.