In November 2014 ob体育 banned Dimitri Amargianitakis from providing financial services for eight years (refer: 14-318MR).
Mr Amargianitakis appealed ob体育鈥檚 decision in the Administrative Appeals Tribunal (AAT).聽 On 17 September 2015, the AAT upheld ob体育鈥檚 decision that he should be banned, however reduced the period from 8 years to 6 years. The AAT found Mr Amargianitakis:聽
- carried on a financial services licence without holding an Australian financial service (AFS) licence;
- made investment recommendations to investors without holding an AFS licence;
- had a lack of appreciation for the regulatory framework in which he operated; and
- provided information that was likely to mislead or deceive investors.
聽Mr Amargianitakis has 28 days to appeal this decision in the Federal Court.