The Australian Securities & Investments Commission (ASIC) has banned former financial adviser Glenda Maree Rogan from providing financial services for ten years after finding she engaged in misleading or deceptive conduct and concluding she was not fit and proper, not competent to participate in the Australian financial services industry, and likely to contravene financial services laws. ASIC found that between March 2022 and June 2023, while an adviser within the Fincare group and an authorised representative of Australian financial services licensee Private Wealth Pty Ltd, Rogan transferred at least AUD 14.8 million of client, family and friend funds to a cryptocurrency-based investment scam. The conduct included false statements about the nature, risks and liquidity of the investment, including representing it as a high-yield fixed interest account rather than cryptocurrency and indicating clients were dealing with her in her capacity as a Fincare representative. Funds were transferred to bank accounts held by Rogan and her personal company, largely converted to cryptocurrency and sent to wallets linked to the Financial Centre, an entity on ASIC’s Investor Alert List; ASIC found Rogan would have had suspicions about its legitimacy from at least October 2022. The ban took effect from 6 June 2025 and also prohibits Rogan from performing any function involved in carrying on a financial services business and from controlling an entity that carries on such a business. The decision is recorded on ASIC’s banned and disqualified register, Rogan may seek review by the Administrative Review Tribunal, and ASIC’s investigation remains ongoing.

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