ASIC bans a fifth broker from Get Approved Finance
ASIC has permanently banned former Perth-based finance broker Mr Grant Aaron Parker from engaging in credit activities and providing financial services.
ASIC found that Mr Parker, of Alfred Cove, Western Australia, engaged in misleading conduct when brokering motor vehicle financing for four clients in 2012. At the time, Mr Parker was employed as a finance broker for Get Approved Finance of Victoria Park in Western Australia. Mr Parker is the fifth broker from Get Approved Finance to be banned by ASIC.
Get Approved Finance was the trading name of Western Australia-based finance broker Jeremy (WA) Pty Ltd, and operated under its credit licence.
Mr Parker 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.
ASIC also found that Mr Parker facilitated the issuing of financial products in his clients’ name and inflated loan amounts by selling and financing insurance and warranty products without his clients’ knowledge or consent.
ASIC Deputy Chairman Peter Kell said the banning reinforces the strong message to any broker considering engaging in misleading conduct. ‘ASIC will not hesitate to permanently remove those who engage in misleading conduct from the industry,’ Mr Kell said.
Mr Parker has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Source: ASIC
