ASIC has banned Victoria-based former credit representative Rodney Peter Maher from engaging in credit activities, controlling other persons who engage in credit activities, and performing any function involved in engaging in credit activities. The ban is for six years.
ASIC found that Mr Maher was reckless in providing documents supporting home loan applications that were false or materially misleading.
ASIC's surveillance looked at supporting loan documents provided by Mr Maher when he was acting as a credit representative of Finsure Finance and Insurance Pty Ltd (Finsure). Several documents Mr Maher submitted to demonstrate savings and dependents were found to be false.
Mr Maher's banning is part of ASIC's ongoing efforts to improve standards across the financial services industry. Mortgage brokers must act diligently and comply with credit legislation.
Mr Maher's banning has been recorded on ASIC's publicly available Banned and Disqualified persons register. Mr Maher has the right to seek a review of ASIC's decision at the Administrative Appeals Tribunal.
Background
Mr Maher was formerly an authorised credit representative of Finsure [Australian credit licence no. 384704] from January 2014 to September 2019.
