The Australian Securities & Investments Commission has banned former Crown Wealth Group director Andrew Moore from performing any function involved in carrying on a financial services business, and from controlling an entity that carries on a financial services business, for three years. The action follows ASIC findings that Moore did not recognise the seriousness of fees for no service conduct by Crown Wealth Group’s representative Lighthouse Partners when he became aware of it, with the result that the conduct was not investigated and affected clients were not fully remediated. Moore was a director, responsible manager and head of compliance at Crown Wealth Group. Lighthouse Partners failed to refund fees totalling AUD 81,652.71 plus interest, and ASIC concluded Moore ought to have identified the matter as a reportable situation requiring notification to ASIC, but Crown Wealth Group did not lodge a reportable situation report until six months after becoming aware of the conduct. The banning is recorded on ASIC’s banned and disqualified register. The ban took effect from 3 July 2025, and Moore may apply to the Administrative Review Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2025-07-08
Australian Securities & Investments Commission bans former Crown Wealth Group director Andrew Moore for three years over failure to report fees for no service
ASIC has banned Andrew Moore, former director of Crown Wealth Group, from financial services roles for three years. Moore failed to address fees for no service by Lighthouse Partners, resulting in uninvestigated misconduct and incomplete client remediation. The ban is effective from 3 July 2025.