02/07/2019 - 14:03

ASIC bans Macro manager

02/07/2019 - 14:03

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The Australian Securities and Investments Commission has banned Western Australian company director Richard Philip Lambe from providing financial services for three years, the latest ban from its investigation into Veronica Macpherson's Macro Group.

ASIC has investigated Macro Group since 2015.

The Australian Securities and Investments Commission has banned Western Australian company director Richard Philip Lambe from providing financial services for three years, the latest ban from its investigation into Veronica Macpherson's Macro Group.

ASIC found that Mr Lambe acted as a director of Anquan Securities & Investments Pty Ltd, and was the key person and responsible manager on its Australian financial services licence in relation to the Newman Estate project.

The Newman Estate project was undertaken by Macro Group, which came under investigation by ASIC in September 2015 after it promoted a $100 million property trust that did not adhere to Australian company regulations.

Veronica Macpherson was the director of Macro Group, which went into liquidation in 2017.

Anquan Securities & Investments was placed into liquidation in August 2018, with Jennifer Low of Sheridans appointed as liquidator. 

ASIC said its actions to date had resulted in the appointment of liquidators to 24 companies within the Macro Group, including Macro Realty Developments.

It also resulted in the permanent banning of Ms Macpherson from providing financial services and the recent cancellation of Rochelle Anne Weinert’s credit licence.

Mr Lambe has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

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