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Thursday 14 September 2006 LAWFUEL – Australian Legal News – Insurance broker, Brendan Maxwell Manion, of Launceston in Tasmania, has appeared in the Launceston Magistrates Court on nine charges brought by the Australian Securities and Investments Commission (ASIC).
These charges follow an investigation by ASIC into Mr Manion’s conduct as an insurance broker between 2 July 2001 and 30 September 2004, operating through Brendan Manion Specialist Insurance Intermediary Pty Ltd (BMSII), of which he was the sole director and principal. Mr Manion pleaded guilty to one charge of altering books that related to an investigation being conducted by ASIC.
ASIC had alleged that between 23 September 2004 and 30 September 2004 Mr Manion caused employees of BMSII to substitute false invoices on his client’s files in place of the original invoices before producing these client files to ASIC as required under a compulsory notice.
Mr Manion has also been charged with six counts of dishonest conduct in relation to financial products and services and two counts of a failure to provide written particulars of fees and charges. Mr Manion pleaded not guilty to these charges, which were laid under the Corporations Act 2001 and Insurance (Agents and Brokers) Act 1984 (now repealed). The matter was adjourned to 10 October 2006 for a further mention.
The charges are being prosecuted by the Commonwealth Director of Public Prosecutions. For further information contact: Allen Turton Deputy Executive Director, Enforcement Telephone: 02 9911 2338 Mobile: 0411 549 236 Danielle Huck ASIC Media Unit Telephone: 03 9280 3407 Mobile: 0417 540 769