subscribe to our newsletter
Court approves ActiveSuper banning orders

Court approves ActiveSuper banning orders

29 May 2015 — 1 minute read

The Federal Court has approved ASIC’s request for banning orders against the former directors of ActiveSuper, who stand accused of misusing more than $4 million raised from SMSF trustees.

Declarations of orders banning former ActiveSuper boss Craig Gore and a number of others from providing financial services have been made, following a recent request from the corporate regulator.

Mr Gore and Jeffrey George have been handed permanent bans by the Federal Court, while Marina Gore, Justin Gibson, Mark Adamson and Jason Burrows have received bans exceeding seven and a half years.

ASIC Commissioner Greg Tanzer said the investigation that led to the banning orders comes as part of a crackdown on the SMSF sector.

“With more than 539,000 SMSFs, over a million members, and assets totalling more than $550 billion, ASIC has ramped up its attention on a sector which is of growing importance to more Australian investors,” Mr Tanzer said.

Court approves ActiveSuper banning orders
smsfadviser logo
join the discussion

Do you think the government should reinstate the accountants’ exemption for SMSF advice?


Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super