ob体育 has permanently banned former responsible manager Anthony 鈥楾ony鈥� David Wynd of Melbourne from providing financial services.
Mr Wynd was the sole director and responsible manager of Financial Circle Pty Ltd (Financial Circle), a financial services and credit business ordered by the Federal Court to pay $8,980,000 in total penalties after contravening financial services, credit and consumer protection laws (18-334MR).听听
ob体育 determined a permanent ban from the provision of financial services was appropriate given Mr Wynd鈥檚 position at Financial Circle, his connection to that misconduct, the seriousness of that misconduct and the likelihood that Mr Wynd would contravene a financial services law in the future.
The permanent banning took effect from 13 August 2019. On 15 August 2019, Mr Wynd applied to the Administrative Appeals Tribunal (AAT) for a review of ob体育鈥檚 decision to permanently ban him from providing financial services. At that time, Mr Wynd also applied for a stay of ob体育鈥檚 decision from taking effect and a stay of ob体育 issuing a media release regarding ob体育鈥檚 financial services banning decision.
On 1 November 2019, the AAT refused Mr Wynd鈥檚 application for a stay of ob体育鈥檚 financial services banning decision from taking effect. However, the AAT made orders prohibiting ob体育 from publishing ob体育鈥檚 decision to permanently ban Mr Wynd from providing financial services until further order of the AAT.
On 13 May 2020, Mr Wynd withdrew his application to the AAT for a review of ob体育鈥檚 decision to permanently ban him from providing financial services.
On 22 June 2020, the AAT made orders vacating the prohibition on ob体育 publishing its financial services banning decision.
The banning has been recorded on ob体育's publicly available Banned and Disqualified Persons Register.
Background
Mr Wynd was the responsible manager of Financial Circle from 4 August 2017 to 19 November 2018.
Financial Circle鈥檚 Australian financial services licence (AFSL) was cancelled on 19 November 2018 (18-362MR).