Ballast authorised rep banned by ASIC

The corporate regulator has announced that Kelvin William Roy Fair has been banned until November 2014 for becoming an undischarged bankrupt, in breach of the Corporations Act.

“Mr Fair falsely represented to his Australian financial services (AFS) licensee that he was not a bankrupt, and in so doing deprived the AFS licensee of the opportunity to disclose his bankruptcy to the AFS licensee’s insurer,” said the statement from ASIC.

“Mr Fair also failed to comply with his obligations as a bankrupt.”