ASIC bans two over dodgy insurance dealings
The Australian Securities and Investments Commission (ASIC) has imposed bans on two Sydney men for unauthorised insurance broking.
Phillip Dryer received a four-year ban from providing financial services and Colin Littlemore a one-year ban.
They represented a company trading as Interactive Insurance Brokers (Drysham). Mr Dryer was also the sole director and secretary of the company.
ASIC says that at various times between December 2004 and December 2007 the men carried on a financial services business without holding an Australian financial services licence (AFSL) or being an authorised representative of an AFSL holder.
Between 2004 and 2007 they arranged insurance contracts including professional indemnity, public liability and motor policies for retail clients.
Phillip Dryer received a four-year ban from providing financial services and Colin Littlemore a one-year ban.
They represented a company trading as Interactive Insurance Brokers (Drysham). Mr Dryer was also the sole director and secretary of the company.
ASIC says that at various times between December 2004 and December 2007 the men carried on a financial services business without holding an Australian financial services licence (AFSL) or being an authorised representative of an AFSL holder.
Between 2004 and 2007 they arranged insurance contracts including professional indemnity, public liability and motor policies for retail clients.