ASIC has permanently banned a Sydney finance broker from engaging in credit activities and providing financial services.
The corporate watchdog today announced that Ms Giulia Penna, of Five Dock, New South Wales was banned following an investigation into her conduct as an agent of an Australia credit licensee.
ASIC found that Ms Penna knowingly submitted false documents for a number of clients who were seeking motor vehicle finance. Ms Penna had a history of conviction for fraud and this was also the basis of her banning.
The Sydney broker has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Ms Penna was convicted in July 2010, in the Local Court of New South Wales at Burwood, on various fraud offences relating to making false statements to obtain money.
"Between June 2012 and September 2012, Ms Penna, trading as CFG Financial Services, provided assistance to consumers to obtain motor vehicle finance and financial services relating to vehicle and equipment warranties," an ASIC statement said.
Since becoming the national regulator of consumer credit in July 2010, ASIC has banned 77 individuals or companies from providing credit services (including 43 permanent bans). ASIC has also brought criminal prosecutions against 13 credit service providers.
[Related: WA broker cops permanent ban]