Richard Pusey banned from mortgage lending for 10 years by ASIC

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Richard Pusey, the person who filmed 4 dying law enforcement officials after a crash on Melbourne’s Jap Freeway, has been banned from working as a mortgage dealer for a decade after making false statements to authorities over various years.

The Australian Securities and Investments Fee on Tuesday stated it revoked the licence of Pusey after he supplied seven false statements in credit score licence functions and compliance statements between 2011 and 2017.

Richard Pusey.

Richard Pusey.Credit score:

However the monetary watchdog additionally banned the Porsche driver on character grounds, saying he lacked honesty, judgement and had “no regard for the legislation”.

“ASIC was happy that Mr Pusey … lacks the attributes of fine character, honesty, and judgement; has no regard for the legislation [and] can’t be relied upon to adjust to instructions issued from authorities,” the watchdog stated.

It additionally stated Pusey “is prone to contravene credit score laws and monetary providers laws, and isn’t a match and correct individual to take part within the monetary providers and credit score industries”.

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“ASIC has banned Melbourne-based former mortgage dealer Richard Pusey from offering monetary providers and interesting in credit score actions, controlling a monetary providers or credit score enterprise and performing any perform in relation to carrying on a monetary providers or credit score enterprise for a interval of 10 years.”

ASIC stated Pusey was a director of IKnow (Vic) Pty Ltd, which held a credit score licence between 2011 and 2015 and was presently a director of ISwitchNow Pty Ltd, which held a credit score licence between 2015 and 2019.

IKnow (from 2005) and Pusey (from 2013) have been additionally authorised to supply basic monetary product recommendation as authorised representatives of Australian Life Insurance coverage Distribution, which is a part of the Australian Life Insurance coverage Group.

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