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Insurance Business | 30 May 2016, 02:11 PM Agree 0
ASIC has announced that they have cancelled the Australian Financial Services license of an insurance brokerage
  • Gary | 30 May 2016, 02:23 PM Agree 0
    Bit slow aren't they?
  • glenda | 30 May 2016, 02:25 PM Agree 0
    "over consecutive years"!!! and mr bailey acting all surprised and angry that his partner took off with the trust so suddenly!!???? hmm... well pity winely took down so many good brokers with them. the ar's out there were left hanging - the captain took the life boat and disappeared!!! we all like to think this cannot happen - it has it does it will.. pity people are people sometimes
  • Peter | 30 May 2016, 03:00 PM Agree 0
    ASIC only seem to discover forms haven't been lodge after the business goes under. All Class Insurance Brokers hadn't submitted financial statements for three years before they went into liquidation. ASIC either don't track them, or don't have the resources to follow up. Either way, it's a concern.
  • Peter | 30 May 2016, 03:02 PM Agree 0
    Agree with Gary and Glenda's comments.
    They took steps to cancel their license!.....was that only after the Insurers took steps not to write business with them anymore? A shame for the professional brokers that were caught up in all of this.
  • Barry Cross | 01 Jun 2016, 11:39 AM Agree 0
    ASIC, spelt J-O-K-E
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