ASIC has permanently banned former CEO Mark Peter Thomas from performing any function involved in the operation of a financial services business or credit provider, or controlling, whether alone or with others, an entity that operates a financial services business or provides credit.

The ban follows Mr Thomas’s conviction for dishonestly using his position as director of New Zealand-based, van Eyk Research subsidiary, Blueprint Investment Management Limited (Blueprint) and engaging in dishonest conduct.

Mr Thomas was sentenced to one year and three months’ imprisonment, to be served by way of an Intensive Correction Order, for using his position as a director dishonestly with the intention of directly or indirectly obtaining an advantage for himself. As part of his sentence, Mr Thomas was ordered to complete 250 hours of community service(22-318MR).

Under the Corporations Act, ASIC may permanently ban a person from the financial services industry and the credit industry if they are convicted of an offence involving serious fraud or dishonest conduct.

Mr Thomas’ banning will be recorded on ASIC’s Banned and Disqualified Register.  

Mr Thomas has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.