The Australian Securities & Investments Commission has issued a seven-year banning order against Northern Territory-based former financial adviser Harris John Kohu Shortland following his conviction for supplying cocaine and receiving or possessing the proceeds of its sale. The ban prohibits Shortland from providing any financial services, controlling an entity that carries on a financial services business, or performing any function in the carrying on of a financial services business in any capacity. The ban took effect from 4 March 2025 and has been recorded on ASIC’s banned and disqualified register. At the time of the offences, Shortland was a shareholder, director and responsible manager of HJ Shortland & Co Wealth Management Pty Ltd, whose Australian financial services licence was suspended in 2022 and cancelled in 2024 after the firm ceased trading due to his imprisonment. Shortland may apply to the Administrative Review Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2025-03-07
Australian Securities & Investments Commission bans former adviser Harris John Kohu Shortland from financial services for seven years after drug supply conviction
The Australian Securities & Investments Commission (ASIC) has imposed a seven-year ban on former financial adviser Harris John Kohu Shortland, following his conviction for cocaine-related offences. Effective from 4 March 2025, the ban prohibits Shortland from providing financial services or engaging in any financial services business activities. His firm, HJ Shortland & Co Wealth Management Pty Ltd, had its licence suspended in 2022 and cancelled in 2024. Shortland may seek a review of ASIC's decision by the Administrative Review Tribunal.