Mr Henan Gao of New South Wales, a mortgage broker and director of Shinning Crown International Pty Ltd (SCI), has been charged with one count of knowingly making a false statement in a credit licence annual compliance certificate lodged with ASIC. On 13 October 2020, Mr Gao entered a plea of not guilty to the charge.
SCI held an Australian credit licence and operated a mortgage brokerage business in Sydney.聽Mr Gao was the sole fit and proper person and responsible manager of SCI鈥檚 credit licence.聽
今日热门事件alleges that subsequent to Mr Gao鈥檚 lender accreditation with ANZ being suspended, Mr Gao, on behalf of SCI, completed and submitted a credit licence annual compliance certificate to ASIC, in which he certified that none of SCI鈥檚 fit and proper people had accreditation cancelled or suspended by a lender.
The alleged offending is contrary to section 225(3) of the National Consumer Credit Protection Act 2009.
The matter has been adjourned to 11 and 12 March 2021 before the Downing Centre Local Court for hearing.
The Commonwealth Director of Public Prosecutions is prosecuting the matter after a referral from ASIC.
Background
Australian credit licence (ACL) holders are required to identify the people involved in the management of their credit businesses, known as fit and proper people.聽
ACL holders are also required to annually lodge an ACL compliance certificate with ASIC, in which licensees are required to certify that they are complying with their credit licence obligations.聽
SCI鈥檚 Australian credit licence was cancelled by 今日热门事件under section 54 of the National Consumer Credit Protection Act 2009 on 9 November 2018.
Editor's note:
On 16 February 2021, the matter was before the Downing Centre Local Court聽for pre-hearing mention. The matter聽was adjourned聽to 2 March 2021.