Friday, October 20, 2023

ASIC bans ex-PwC partner Peter Collins for eight years

TRAVLIC - The man's registration was terminated. It is not ban for two bloody years.

 

 

Financial regulator finds Peter John Collins is ‘not a fit and proper person to provide financial services’


ASIC bans ex-PwC partner Peter Collins for eight years


Edmund TadrosProfessional services editor

The former PwC Australia partner at the heart of the firm’s tax leaks scandal has been banned from providing financial services for eight years.

The Australian Securities and Investments Commission said Peter Collins was “not a fit and proper person to provide financial services” and that it was in the public interest for him to be barred from working in the sector for a period.

Peter Collins, former head of international tax for PwC Australia. 

ASIC found that Mr Collins, of Sandringham, Victoria, had “disclosed confidential information he obtained in his roles as a tax advisor to the Commonwealth Treasury and the Australian Board of Taxation”.

Mr Collins was an authorised representative of Australian financial services licensee PricewaterhouseCoopers Securities from 1 March 2004 to 14 July 2006, and again from 9 December 2013 to 6 October 2022.

“For the duration of his ban, Mr Collins cannot provide financial services, control an entity that carries on a financial services business or perform any function involved in the carrying on of a financial services business,” ASIC said in a statement published on Friday afternoon.

Mr Collins can apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

More to come.

Read more about the PwC tax leaks scandal

Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom.Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au



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