On 27 June 2024, the Administrative Appeals Tribunal (Tribunal) varied ASIC’s decision to ban Mr Christopher Betalli from providing financial services (21-358MR). 

On 1 May 2021, ASIC banned Mr Betalli from providing financial services for two years. Mr Betalli appealed ASIC’s decision to the Tribunal. The banning order was stayed on 24 June 2021 by order of the Tribunal.

Having regard to all the relevant matters, including personal and general deterrence and the need to promote public confidence in the financial services sector the Tribunal considered that a ban for a period of 12 months from providing financial services was appropriate. The banning period, having regard to the period of the ban in place before the stay, will end on 24 April 2025.

The full decision is available via the website of the Administrative Appeals Tribunal.