The Australian Securities and Investments Commission (ASIC) has banned former financial adviser Glenda Maree Rogan from the financial services industry for 10 years. Here are the details:
Background of the Incident
Rogan worked as an accountant and financial adviser for the Fincare group of companies in the Sutherland and Wollongong regions from May 2014 to early February 2024.
Process of the Scam
Between March 2022 and June 2023, Rogan convinced her clients to invest in what she claimed was a “high – yield fixed – interest account.” In reality, the funds were transferred to her personal and company – controlled bank accounts, converted to cryptocurrency, and then funneled into wallets linked to a UK – based trading platform already blacklisted by the ASIC.
Rogan “made false statements to clients” and misled them about the investment’s nature, risk, and liquidity. She also falsely claimed to be acting in her official capacity with her employer.
Consequences and Impact
The ASIC’s 10 – year ban on Rogan took effect on June 6, 2025. She is prohibited from performing any function in a financial services business or controlling such entities.
Rogan has the right to appeal to the Administrative Review Tribunal. However, her banning has been recorded on the ASIC’s banned and disqualified register, and the ASIC’s investigation into her conduct remains ongoing.
This case is part of the ASIC’s broader crackdown on suspicious activity in the local financial sector, sending a strong message that dishonesty and crypto – related abuse will not be tolerated in Australia’s regulated financial system. It also prompts the industry to enhance self – discipline and regulatory compliance to protect the rights and interests of investors.
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