The Administrative Appeals Tribunal (AAT) has affirmed the ASIC decisions to permanently ban former Perth-based finance broker Mr Grant Aaron Parker from engaging in credit activities and providing financial services.
In affirming the ASIC decisions, the AAT found that a permanent banning order of Mr Parker was appropriate as he had intentionally misled his clients, third parties and Esanda and his dishonest conduct was repeated and premediated. The AAT also found that there was reason to believe that Mr Parker has contravened and was likely to contravene credit and financial services legislation, that he was not a fit and proper person to engage in credit activities and that he was not of good fame and character.
ASIC banned Mr Parker, a former Get Approved Finance broker, in April 2016 after it was found that he misled vulnerable clients with poor credit histories to believe they would be approved for vehicle finance if their loan applications were supported by guarantors. Mr Parker then dishonestly prepared loan applications solely in the names of the proposed guarantors without those persons’ knowledge or consent.
Mr Parker filed an application in the AAT for a review of the ASIC decisions on 19 May 2016.