A director of Homesafe Equities (Homesafe), Geoffrey Wade, of Castlemaine, Victoria, has pleaded guilty in the Melbourne Magistrates Court to one charge of carrying on a financial services business service without holding an Australian financial services licence.

The Australian Securities and Investments Commission investigated the provision and distribution of builders’ warranty insurance by Homesafe in Victoria between July 2003 and February last year.

Magistrate John Dugdale sentenced Mr Wade to a non-conviction good behaviour bond of $2000 for 24 months, with $2000 court costs.