ASIC bans Brisbane finance broker and cancels the license of Global Merces Funds Management

The Australian Securities and Investment Commission banned Brisbane-based finance broker Jeffry Leonard Gordon from engaging in credit activities.

The Australian watchdog investigated Gordon and found he gave false letters to clients stating they had been approved for a home loan with St George. Gordon also failed to lodge an annual compliance certificate and maintain a trust account.



The ASIC also announced cancelling the Australian financial services (AFS) licence of Global Merces Funds Management Limited.

The reason for the cancellation is that Global Merces is in liquidation.

The license of the company was previously suspended after the company got external administrator appointed in January.

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