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ASIC disqualifies South Perth director

The Australian Securities and Investment Commission have disqualified South Perth man Richard Trainer from managing corporations for 18 months.

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Lesmurdie
Rather than just disqualifying individuals from running companies for a set time, ASIC should also impose a fine equivalent to the monies lost, plus make it a requirement that the person thus disqualified must pay all debts associated with the failed companies before being entitled to become a director of another company.

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