Regulatory Alerts2025-10-21
ASIC permanently bans Noel Northcott from the financial services industry
The Australian Securities and Investments Commission permanently banned Noel Northcott from providing financial services, controlling related entities, or performing functions within the industry due to serious misconduct. ASIC found that Northcott engaged in dishonest conduct by sending false performance statements to investors in the Noon Investment Fund and made misleading representations regarding the Quant Fund's performance and history. Although Northcott appealed the decision to the Administrative Review Tribunal, the tribunal refused stay and confidentiality orders, allowing the public ban to proceed.
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