ASIC seeks permanent ban for former WPS boss

In a statement issued today, ASIC revealed it has made a formal submission requesting a permanent banning order against Mr Gore and his wife Marina Gore after an investigation found “misleading and deceptive” conduct relating to SMSF investors.

ASIC alleges that the Gores, through their companies Royale Capital and ActiveSuper, provided unlicensed financial services, failed to provide disclosure documents to investors, engaged in cold calling practices and distributed investor funds to third parties without disclosure.

On 14 April 2015, the Federal Court ruled that Mr Gore and several other parties had “contravened sections of the Corporations Act or were knowingly concerned in those contraventions”.

Mr Gore sold WPS to British politician Michael Ashcroft in 2009.