S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

Joel Robinson

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:ca872054-bfe3-4cc5-a2c8-b373d4dfeafb-2" dir="auto">
A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.

Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.

At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.

[smartcode_project:default project_id=147685 project_image_fid=359134]

Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.

Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.

“The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers,” Huxley said.

“Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind.”

[smartcode_project:default project_id=147685 project_image_fid=359135]

The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.

In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.

Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.

[smartcode_project:default project_id=147685 project_image_fid=359137]

Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.

Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.

“Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre,” Hamblett said.

“There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living.”

[smartcode_project:default project_id=147685 project_image_fid=359145]

The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.

For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.

EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.

[smartcode_project_cta:default project_id=147685]
</section>

Castle Hill apartments offering unmatched buyer protection through dedicated fund

A State-Assessed Rezoning Proposal for the Kurnell Peninsula is now on public exhibition, setting out a plan to deliver up to 4,300 homes alongside new retail, tourism and public open space on a 210-hectare coastal site.

The proposal, backed by the Minns Labor Government, would transform a former sand mining area along Captain Cook Drive into a mixed-use precinct delivered over approximately 20 years.

In addition to housing, the plan includes more than 7,000 sqm of retail and commercial space, new community facilities and approximately 116 hectares of open space, equating to more than half the site.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="ce1c6567-1df0-4de0-9fe5-a76be0367834" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.11.51%E2%80%AFAM_0.png?VersionId=dbbTmYaJvROA5fkQbgaxis8cmFwtpB5_" />

<hr data-end="849" data-start="846" />
<h2 data-end="902" data-section-id="ony3l3" data-start="851">Rezoning framework enables mixed-use development</h2>

The rezoning application seeks to amend planning controls under the State Environmental Planning Policy (Precincts—Central River City) and the Sutherland Shire Local Environmental Plan 2015.

Its primary objective is to enable a broader range of land uses across the site, including residential, employment, tourism and community uses, while also formalising environmental protections and land management outcomes .

The proposal has progressed through the state-led rezoning pathway after being identified as a project of regional significance, supported by several years of technical studies and agency consultation .

Development would occur in stages, aligned with the progressive closure and remediation of the existing sand mine.

<hr data-end="1718" data-start="1715" />
<h2 data-end="1768" data-section-id="krwii9" data-start="1720">Master plan structured around three precincts</h2>

The accompanying urban design report outlines an indicative master plan that divides the site into three primary precincts, anchored by a town centre in the western portion of the site.

The town centre is planned as the first stage of development, located on land that has already been remediated. It is intended to accommodate higher-density housing, retail, and community uses.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="4bfd5873-4847-4105-b220-0a30c96f5573" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.20.09%E2%80%AFAM.png?VersionId=7aVaSsZLAc6mElSH4g6Ct5bGsNxZcnPL" />

Additional precincts extend toward Bate Bay and Boat Harbour, with built form responding to environmental conditions and proximity to the coastline.

The design framework identifies distinct local character areas, with the master plan structured to reflect “unique natural qualities” across the site.

<hr data-end="2495" data-start="2492" />
<h2 data-end="2544" data-section-id="1vitwqn" data-start="2497">Open space forms core of the design approach</h2>

A key component of the proposal is the allocation of approximately 116 hectares to open space and ecological land.

This includes:

<ul data-end="2846" data-start="2678">
	<li data-end="2702" data-section-id="d96caj" data-start="2678">Three district parks</li>
	<li data-end="2723" data-section-id="17y6uz6" data-start="2703">Nine local parks</li>
	<li data-end="2741" data-section-id="14hui00" data-start="2724">Sports fields</li>
	<li data-end="2778" data-section-id="ts7psx" data-start="2742">Coastal and ecological corridors</li>
	<li data-end="2846" data-section-id="agduax" data-start="2779">Two kilometres of publicly accessible beachfront along Bate Bay</li>
</ul>

The urban design report positions this open space network as central to the structure of the development, rather than ancillary to it.

It is intended to support ecological regeneration, provide recreational amenity and create a connected network across the peninsula.

The plan includes north–south ecological corridors, expanded wetland systems and pedestrian and cycling links designed to connect residential areas to the coastline and open space areas .

<hr data-end="3347" data-start="3344" />
<h2 data-end="3381" data-section-id="ql66rt" data-start="3349">Housing mix and affordability</h2>

The proposal includes approximately 4,300 dwellings across a range of housing types.

This includes high-density apartments, medium-density housing, townhouses and seniors housing.

Affordable housing provision is identified at approximately 240 dwellings, alongside a smaller component of social housing.

The master plan emphasises housing diversity, with the intent of accommodating a range of household types and age groups within the development.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="d4baba4d-b5b0-4a86-bcad-5d319b036184" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.11.59%E2%80%AFAM.png?VersionId=udYFz0q8tjEPR3pmKLHRSFRJN4dKakPO" />

<hr data-end="3877" data-start="3874" />
<h2 data-end="3919" data-section-id="rgckdv" data-start="3879">Built form controls and height limits</h2>

Proposed building heights across the site range from three to 12 storeys.

These controls are set out within the rezoning application and are intended to manage visual impact, maintain view corridors and ensure compatibility with the coastal landscape.

Floor space ratios and height limits are applied across different parts of the site to reflect varying environmental conditions and proximity to open space and the coastline .

Higher density is generally concentrated within the town centre, with lower-scale development toward the coastal edge and environmentally sensitive areas.

<hr data-end="4548" data-start="4545" />
<h2 data-end="4588" data-section-id="1minlda" data-start="4550">Retail, tourism and employment uses</h2>

In addition to residential development, the proposal includes retail, commercial and tourism uses.

This includes:

<ul data-end="4896" data-start="4706">
	<li data-end="4775" data-section-id="1jrun76" data-start="4706">Approximately 7,000–9,800sqm of retail and commercial floor space</li>
	<li data-end="4803" data-section-id="10kyifw" data-start="4776">A full-line supermarket</li>
	<li data-end="4830" data-section-id="fz1hdg" data-start="4804">Food and beverage uses</li>
	<li data-end="4896" data-section-id="1aqg2fj" data-start="4831">Tourism accommodation, including hotel and short-stay options</li>
</ul>

The proposal also identifies employment outcomes, with the development expected to support jobs both during construction and in ongoing operations.

These uses are concentrated within the town centre and key activity areas across the site.

<hr data-end="5142" data-start="5139" />
<h2 data-end="5172" data-section-id="162x2kt" data-start="5144">Infrastructure and access</h2>

The proposal includes upgrades to Captain Cook Drive, which provides the primary access to the peninsula.

These upgrades are intended to improve traffic flow and support emergency access.

The transport strategy also incorporates:

<ul data-end="5529" data-start="5407">
	<li data-end="5433" data-section-id="fanquy" data-start="5407">Internal road networks</li>
	<li data-end="5469" data-section-id="o6y80y" data-start="5434">Walking and cycling connections</li>
	<li data-end="5529" data-section-id="jgraft" data-start="5470">Proposed public transport routes and bus stop locations</li>
</ul>

The rezoning report includes detailed analysis of transport, flooding, and infrastructure requirements to support the staged development of the site .

<hr data-end="5723" data-start="5720" />
<h2 data-end="5769" data-section-id="14urh3" data-start="5725">Environmental and cultural considerations</h2>

The site is identified as having environmental and cultural significance, including areas of ecological value and Aboriginal archaeological sensitivity.

The proposal includes measures to protect and enhance these areas, including:

<ul data-end="6230" data-start="6004">
	<li data-end="6056" data-section-id="1pzyouo" data-start="6004">Retention and regeneration of coastal vegetation</li>
	<li data-end="6100" data-section-id="bjn2vz" data-start="6057">Strengthening of biodiversity corridors</li>
	<li data-end="6148" data-section-id="1bpeyoj" data-start="6101">Protection of riparian systems and wetlands</li>
	<li data-end="6230" data-section-id="lg0cka" data-start="6149">Integration of cultural interpretation and recognition of Indigenous heritage</li>
</ul>

The urban design report also outlines opportunities for incorporating Indigenous cultural elements into public spaces and landscape design.

<hr data-end="6893" data-start="6890" />
<h2 data-end="6908" data-section-id="w7rk5f" data-start="6895">Next steps</h2>

The proposal is currently on public exhibition, with submissions open to the community. Feedback received during this period will inform the Department of Planning’s assessment of the rezoning.

If approved, the rezoning would establish the planning framework for future development applications across the site.

<hr data-end="6893" data-start="6890" />
<h2 data-end="6908" data-section-id="w7rk5f" data-start="6895">What the NSW Government says</h2>

Minister for Planning and Public Spaces Paul Scully said the planned closure of the sand mine and remediation of the Kurnell Peninsula presents an exciting opportunity to transform the area.

“This proposal envisions a vibrant new beachfront community with thousands of new homes, jobs and great open space in the Sutherland Shire. I encourage the community to have their say during the public exhibition period. Feedback from the community will play an important role in the assessment of the proposal.”

Sydney's newest beachfront city: NSW Gov to unlock 4,300 new homes on Kurnell peninsula

A long-awaited transformation of a former industrial site in Holroyd has been given the green light, with the NSW Government approving the $1.2 billion Crescent Parklands masterplan that will deliver more than 1,200 new homes just south of Parramatta.

The State Significant Development approval clears the way for a large-scale mixed-use precinct at <a href="https://www.apartments.com.au/new-apartments/1-crescent-street-holroyd-nsw-2142">1 Crescent Street</a>, replacing an underutilised site with a coordinated residential community anchored by new open space, retail, and commercial uses.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> for WA-based developer Tiberius, the approved scheme comprises seven buildings arranged across two precincts. In total, the development will deliver 1,227 apartments, including 201 allocated as affordable housing, alongside approximately 2,500 sqm of retail and 5,000 sqm of commercial space within a mixed-use podium.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="1cc82dd2-8184-4b86-8665-90653147820d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20buildings.png?VersionId=2ZmVDc_Rfc4AzQ6ShzZJlvdZnACLerVM" />

The project is structured as a masterplanned precinct rather than a standalone tower. Buildings 1 to 4 will rise from a shared podium with shop-top housing, while Buildings 5 to 7 are positioned closer to the northern park interface as residential flat buildings. The built form has been carefully modulated to balance density with amenity, with the design resolving building separation, solar access, and wind impacts at a precinct scale.

A significant focus of the design is the activation of Crescent Street and the integration of public domain. The submission notes that “individual townhouses [were] removed for community based functions to Crescent Street to increase activation and surveillance,” reinforcing a more urban and publicly engaged street edge. Retail, commercial tenancies, and resident amenity spaces are concentrated along this frontage and within the podium to support day-to-day activity.

The landscape strategy underpins the project’s identity, with a network of pedestrian connections, landscaped corridors, and open spaces linking the site internally and to its surroundings. The design prioritises permeability, delivering “increased uninterrupted flow between spaces for pedestrian access” and improved connections through to the adjoining parklands.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="19282454-ab2f-4e2c-866f-4b35cf4283d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20masterplan.png?VersionId=JQdWGYI5B5R1lzmK4omYOp_8KLPkT4Bv" />

Buildings within the western precinct are oriented toward the park, shaping a residential offering defined by proximity to open space. The design describes this approach as creating apartments “immersed in nature with apartments facing the park,” positioning the landscape as a central organising element of the masterplan.

The broader architectural response addresses both infrastructure and context, with taller elements capturing long-range views toward Parramatta while setbacks and separation distances mitigate impacts on surrounding residential areas. Sustainability initiatives, including solar optimisation, cross-ventilation, and integrated landscape systems, are embedded across the scheme.

Located approximately one kilometre south of Parramatta CBD, the 3.6-hectare site is bounded by Crescent Street, Woodville Road, and Holroyd Sportsground. It benefits from strong access to public transport, including nearby bus routes and train stations, and sits within a rapidly evolving corridor earmarked for increased residential density. The design also strengthens connections between surrounding green spaces, including Holroyd Sportsground and Parramatta Parklands.

The approval follows several years of planning, including a rezoning process that enabled significant uplift in height and density across the site. With determination now secured, Crescent Parklands is positioned to play a major role in delivering new housing supply within Greater Parramatta’s growth area.

Tiberius’ Crescent Parklands to deliver over 1,200 homes in major Holroyd transformation

<html><body>
Following a five-week trial in the District Court of NSW, Mr Peter Alan Gregg of Pyrmont, NSW has been found guilty of criminal charges brought by ASIC. The jury gave its verdict today in the District Court in Sydney.
Mr Gregg was found guilty of two counts of contravening section 1307(1) of the Corporations Act 2001. The jury found that Mr Gregg, a former director and chief financial officer of Leighton Holdings Ltd (LHL), had engaged in conduct which resulted in the falsification of LHL's books.
Mr Waugh, of Maylands, Western Australia, the former managing director of Leighton Welspun Contractors Pvt Ltd, was found not guilty of one count of aiding and abetting the commission of an offence by Mr Gregg under s1307(1).
Gregg was remanded to appear before the District Court on 31 January 2019.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
Earlier this year Gregg sold his Double Bay trophy home.
The four-bedroom, heritage-listed 1934 mansion is known locally as "Taj" secured around $7.75 million.
Gregg and wife Tobi Moroz purchased the house in 2015 from prominent legal couple Maurice Neil and Natasha Goulden for $6.2 million.
The landmark Spanish Revival property has been listed through Michael Finger and Peter Leipnik.
​The Wiston Garden Spanish Mission-style house was built on the cul-de-sac in 1934 at a cost of £2,700.
The heritage listed property was built in 1934 by poulterer Albert Glazebrook with rare Max Le Verrier light fittings.
 
</body></html>

jrobinson-rf4aSBido9

Former Leighton executive Peter Gregg found guilty of falsification of company books

<html><body>
ASIC has permanently banned Victorian director Ermelia Suzanne Snoeks from engaging in credit activities and from providing financial services.
This followed an ASIC investigation that found Ms Snoeks:
<ul>
<li>failed to disclose a past criminal conviction in an application for an Australian credit licence by NBG Financial Pty Ltd (NBG), a company for which Ms Snoeks is the director;</li>
<li>lodged a false document in support of her being a fit and proper person in NBG's Australian credit licence application;</li>
<li>had previously been involved in false correspondence misrepresenting the fate of monies and in respect of her purportedly being legally represented; and</li>
<li>failed to disclose in an annual compliance certificate that NBG has ceased to be a member of an external dispute resolution scheme.</li>
</ul>
It was therefore determined that Ms Snoeks had contravened credit legislation and was not a fit and proper person to engage in credit activities or provide financial services to consumers.
NBG held an Australian credit licence between March 2011 and September 2016.
ASIC Deputy Chairman Peter Kell said, 'We expect information in support of a credit or financial services licence application to be truthful and contain all relevant material for us to assess an applicant's suitability to be authorised.  'Anyone who provides information that is false and incomplete, and designed to circumvent the safeguards in the licensing process, shows blatant disregard for the law. We will take steps to remove such a person from the industry'.
Ms Snoeks has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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j.ballantyne1990-6AQqhLzZaK

Victorian mortgage broker banned for past failures

<html><body>
ASIC has permanently banned former NSW financial adviser Ashley Grant Howard from providing financial services after an investigation found he had: 　
<ul>
<li>engaged in dishonest conduct;　</li>
<li>held out that trading he was conducting was authorised;　</li>
<li>provided financial services when not licensed or authorised to do so; and 　</li>
<li>engaged in conduct that was likely to mislead.　</li>
</ul>
ASIC found that Mr Howard had failed to comply with the Corporations Act in that he:　
<ul>
<li>used more than $1.8 million of client funds for his own benefit or the benefit of others (which included paying for cosmetic surgery for his partner, purchasing a house and settling debts to Jordan Belfort, the so-called 'Wolf of Wall Street'); and　</li>
<li>provided false information and documents to clients and third parties.　</li>
</ul>
The Newcastle district house cost $380,000 and was sold at $350,000 in 2013.
ASIC also found that Mr Howard had failed to:　
<ul>
<li>assist his trustee in bankruptcy by not lodging a statement of affairs;　</li>
<li>assist the liquidator of Meridien Capital Ltd, a company of which he was a director, by not providing a report as to the company's affairs, not providing information as reasonably required and directed by the liquidator and did not produce the books and records of the company;　</li>
<li>comply with Notices served by ASIC to produce documents and attend an examination.　</li>
</ul>
Mr Howard's dishonest unauthorised use of the $1.8 million from clients led to ASIC finding that he was not of good fame and character.　
ASIC Commissioner John Price said, 'ASIC will take action to remove persons from the financial services industry to protect the public. Mr Howard's conduct was particularly bad in that, on occasions, he preyed on elderly and vulnerable people.'　
Mr Howard has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.　
Background　
In 2014 ASIC commenced an investigation into the circumstances surrounding the misappropriation of funds from the initial public offering for Elsmore Resources Limited [ASX code: ELR] ('Elsmore'). Elsmore listed on the ASX on 20 December 2013 at a time when Mr Howard was a director.　
During the course of this investigation ASIC became concerned about the conduct of various individuals, including Mr Howard's, and which has led to his permanent banning from providing financial services. 　
Mr Shaun Morgan, a New Zealand national, also came to ASIC's attention during the investigation and led ASIC to issue a public warning notice about Mr Morgan and his companies (15-016MR). Subsequently last year ASIC permanently banned Mr Morgan from providing financial services (15-140MR) and he was removed as a director from various Australian companies in light of his criminal conviction in the United States (15-275MR).　
Elsmore itself has pursued legal action to recover the allegedly misappropriated funds from Mr Howard and his associates, Periwinkle Investments Pty Ltd, HF Global Corporate Financial and Harry Fung. Mr Howard is currently a bankrupt, which has impacted on the ability of the company to enforce a settlement agreement entered into with Mr Howard requiring him to repay the misappropriated funds. Most recently the Supreme Court of New South Wales ordered Mr Fung to pay approximately $680,000 to the company.　
Elsmore Resources Limited was delisted by the ASX on 15 August 2016.　
ASIC's investigations into Mr Howard and other associated individuals continue.
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ASIC bans Wolf of Wall Street's former partner Ashley Howard

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Mark McIvor, former chief executive officer and founding director of Equititrust Limited (in liquidation) (Equititrust) remains permanently banned from providing financial services after withdrawing an application to the Administrative Appeals Tribunal (AAT) to appeal against ASIC's original banning decision.
Mr McIvor was permanently banned from providing financial services on 2 September 2015 following an earlier ASIC investigation into the collapse of Equititrust.
At that time, Equititrust held an Australian financial services (AFS) licence and was the responsible entity of two registered schemes; Equititrust Income Fund (EIF) and the Equititrust Priority Class Income Fund (EPCIF) and was also the trustee of Equititrust Premium Fund (EPF); an unregistered managed investment scheme.
An ASIC delegate found that whilst he was the director of Equititrust, Mr McIvor contravened a financial services law and was not of good fame or character to provide financial services.
His conduct involved breaches of the financial services legislation which were considered to be very serious, repetitive, prolonged and dishonest.
In particular, the ASIC delegate found that Mr McIvor contravened financial services laws by:
<ul>
<li>Signing 28 board meeting minutes, which falsely recorded a board meeting to approve a loan application had occurred, when no such board meeting had taken place, and in doing so, Equititrust did not meet its obligations under EIFs Compliance Plan; and</li>
<li> </li>
<li>Failing to take all the steps that a reasonable person would take, if they were in Mr McIvor's position, namely to ensure that accurate, true and correct documents were relied upon for compliance checks and not be involved in the production of false documents.</li>
</ul>
Mr McIvor subsequently filed applications for a review of ASIC's decision to permanently ban him from providing financial services and to stay the operation and implementation of the banning order.
The stay application was refused by the AAT (refer 16-181MR) and on 1 September 2016, Mr McIvor withdrew his application for review of ASIC's decision to permanently ban him from financial services.
ASIC Commissioner John Price said Mr McIvor's conduct was at the most serious end of the offending range and that it was appropriate he be permanently banned from providing financial services.
'People who provide financial services, especially those in senior management positions, are required to discharge their obligations under financial services laws efficiently, honestly and fairly. ASIC will ensure those who fail in these duties are removed from the industry,' Mr Price said.
Equititrust was incorporated on 18 August 1993 and was placed into voluntary administration on 15 February 2012. 
The creditors of Equititrust resolved that the company should be placed into liquidation on 20 April 2012.
The voluntary administrators of Equititrust reported that as at the date of their appointment:
<ul>
<li>    EIF had about 1620 unitholders who were owed approximately $203.6mil;</li>
<li> </li>
<li>    EPF had about 38 unitholders who were owed approximately $56.7mil; and</li>
<li> </li>
<li>    EPCIF had 5 unitholders and held no tangible assets.</li>
</ul>
On 19 December 2011, ASIC suspended Equititrust's AFSL for 12 months, for failing to comply with a number of key obligations as a financial services licensee (refer 11-306MR). Equititrust's AFSL remains suspended.
On 22 August 2014, Mr McIvor was convicted and fined $10,000 in the Brisbane Magistrates Court of six charges of failing to provide a Report as to Affairs and to deliver books and records to the liquidators of Chevron Capital Pty Ltd, MHSM Holdings Pty Ltd and SM Capital Pty Ltd (refer 14-223MR).
Mr McIvor was made bankrupt on 28 November 2012, however, his bankruptcy period has since expired.
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Former Equititrust CEO remains permanently banned from providing financial services

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The Federal Court has declared that land banking developments operated by Jamie and Dennis McIntyre were unregistered managed investment schemes in a decision delivered by His Honour Justice Bromwich on 17 October 2016.
The Court also made orders that Jamie and Dennis McIntyre be disqualified from managing corporations and restrained from carrying on financial services for a period of 10 years each, due to them being officers of companies that had failed, by virtue of them being wound up, and which had also repeatedly contravened the Corporations Act .
Jamie and Dennis McIntyre agreed to the banning orders made against them.
Further, the Court made orders to wind up the unregistered managed investment schemes, which were promoted and advertised by the 21st Century land banking companies.
The unregistered managed investment schemes are known as:
<ul>
<li>Botanica, located at 805 Archer Rd, Kialla, Victoria 3631</li>
<li>Secret Valley Estate, located at  955, Old Sydney Road, Bylands, Victoria 3762</li>
<li>Oak Valley Lakes Estate &amp; Resort, located at 124 Booth Road, Brookhill, Townsville, Qld 4816</li>
<li>Bendigo Vineyard Estate &amp; Resort, located at  51 Andrews Road, Bendigo, Victoria 3551</li>
<li>Melbourne Grove Estate, located at  1491 Dohertys Road, Mount Cottrell, Victoria 3024</li>
</ul>
Simon Wallace-Smith and Robert Woods of Deloitte have been appointed as joint liquidators of the unregistered managed investment schemes.
ASIC Commissioner Greg Tanzer said, "The high banning periods ordered by the Court in this case are necessary to protect the public from those who are officers of companies that repeatedly contravene the Corporations Act.  It also serves as a warning to those involved in unlawful unregistered managed investment schemes, including those that involve land banking, that ASIC will take action."
ASIC's investigation into the matter is ongoing.
ASIC commenced proceedings in August 2015 against Jamie and Dennis McIntyre and the 21st Century land banking companies in relation to their promotion and sale of interests to investors in five land banking schemes.
ASIC’s proceedings are part of ASIC's wider and ongoing investigation into land banking schemes.
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Federal Court declares 21st Century land banking schemes unlawful

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ASIC has permanently banned a Queensland mortgage broker Jiangyong (Jenny) Mao from engaging in credit activities and providing financial services after an investigation found she created and submitted false documents in support of home loan applications for her clients.
ASIC said Mao "is not a fit and proper person" to engage in credit activities, and determined she was "not of good fame or character".
"The integrity of the home loan industry relies upon participants who are honest. ASIC will ban people who deliberately engage in fraudulent conduct," ASIC deputy chair Peter Kell said.
Mao has the right to seek a review of ASIC’s decision to the Administrative Appeals Tribunal.
Ms Mao, of South Brisbane, Queensland operated a home loan broking company, Diamond Lady Group Pty Ltd (Diamond Lady Group) which held an Australian credit licence from 2010 until 2014. 
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ASIC bans Diamond Lady Group Queensland mortgage broker

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ASIC has permanently banned Mr Shiv Prakash Sahay, of Lidcombe NSW, from the credit and financial services industries.
The bans follow an ASIC investigation which led to Mr Sahay being convicted on 7 July 2015 in Sydney Downing Centre Local Court on three charges of making false statements, making false documents and using false documents in home loan applications. 
He was sentenced to 350 hours of community service work.
ASIC deputy chair Peter Kell said ASIC's action against Mr Sahay shows how seriously we are about tackling loan fraud.
 'We won't hesitate to take strong action to remove dishonest brokers, who falsify loan documents to the detriment of their clients, from the industry'.
Mr Sahay has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision. 
Background
On 26 May 2015, Mr Sahay pleaded guilty to three charges of:
1. making 13 false statements in loan applications submitted by him on behalf of his clients to Bankwest and Suncorp;
2. making 23 false documents in support of those false statements, mainly bank statements; and
3. using 26 false documents in loan applications submitted by him on behalf of his clients to Bankwest (a division of the Commonwealth Bank of Australia) and Suncorp Metway Limited. 
On 7 July 2015, Mr Sahay was convicted and sentenced to 350 hours of community service work  for the above three charges. 
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ASIC bans convicted finance broker over Bankwest and Suncorp home loan applications

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ASIC has banned Mr Trevor John Seymour, a former director of Provident Capital Limited, from managing corporations for three years and providing financial services for three years.
Mr Seymour was a director of Provident Capital from 25 May 1998 to 17 December 2013. Provident Capital went into receivership on 3 July 2012 and into liquidation on 24 October 2012.
Mr Seymour has filed an application with the Administrative Appeals Tribunal (AAT) for a review of ASIC's decision.
ASIC’s investigation is continuing.
 
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