Former Brisbane-based financial adviser Kristofer Ridgway has appeared at the Southport Magistrates Court in Queensland charged with two counts of providing false or misleading information to ASIC during the conduct of a compulsory examination, contrary to section 64(1) of the Australian Securities and Investments Commission Act 2001 (Cth).

It is alleged that Mr Ridgway provided false or misleading information to ASIC while he was being examined during a compulsory examination conducted by ASIC as part of its investigation into Mr Ridgway’s role in recommending unlisted McFaddens Securities shares to clients.

Mr Ridgway appeared on 14 December 2023. He was released on bail and the matter was adjourned for mention on 5 February 2024 in the Southport Magistrates Court.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral by ASIC.

Background

Earlier this year, ASIC permanently banned Mr Ridgway from having any involvement in financial services. ASIC determined a permanent ban was necessary due to concerns that Mr Ridgway is not a fit and proper person to provide financial services, is not adequately trained or competent to provide financial services, and is likely to contravene financial services law (23-095MR).

Mr Ridgway’s banning is recorded on ASIC’s banned and disqualified register.

Providing false or misleading information to ASIC during a compulsory examination carries a maximum penalty of 5 years imprisonment.

Editor's Note:

The 5 February 2024 mention hearing was adjourned for a further mention on 19 February 2024.

Editor's Note 2:

The 19 February 2024 mention hearing was adjourned for a further mention on 18 March 2024. 

Editor's Note 3:

The 18 March 2024 mention hearing was adjourned for a further mention on 15 April 2024. 

Editor's Note 4:

The 15 April 2024 mention hearing was adjourned for a further mention on 3 June 2024. 

Editor's Note 5:

The 3 June 2024 mention hearing was adjourned for a further mention on 1 July 2024.

Editor's Note 6:

The 1 July 2024 mention hearing was adjourned for a further mention on 5 August 2024. 

Editor's Note 7:

The 5 August 2024 mention hearing was adjourned for a further mention on 16 September 2024. 

Editor's Note 8:

The 16 September 2024 mention hearing was adjourned for further mention 21 October 2024.

Editor's Note 9:

The 21 October 2024 mention hearing was adjourned for a further mention on 4 November 2024.

Editor's Note 10:

The 4 November 2024 mention hearing was adjourned for a further mention on 18 November 2024 (24-255MR).