The Australian Securities & Investments Commission (ASIC) has cancelled the Australian credit licences of Queensland-based licensees Tracie Lee Hanson and William James Lawrence, citing failures including unpaid industry funding levies and other compliance breaches. Ms Hanson failed to lodge three annual compliance certificates, was expelled from the Australian Financial Complaints Authority due to non-payment of fees, and did not pay industry funding levies owed to ASIC for three years. Her licence cancellation took effect on 4 October 2024. Mr Lawrence failed to pay industry funding levies owed to ASIC for six years, and his licence cancellation took effect on 28 January 2025. Both licensees may apply to the Administrative Review Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2025-02-26
Australian Securities & Investments Commission cancels two Australian credit licences over unpaid levies and compliance failures
ASIC revoked the credit licences of Queensland-based Tracie Lee Hanson and William James Lawrence due to unpaid levies and compliance breaches. Hanson failed to lodge compliance certificates and pay fees, leading to her licence cancellation on 4 October 2024. Lawrence's licence was cancelled on 28 January 2025 after six years of unpaid levies. Both can seek review through the Administrative Review Tribunal.