Regulatory Alerts2025-07-10
Federal Court finds James Mawhinney involved in contraventions by Mayfair 101 Group
ASIC obtained a Federal Court ruling finding that Mayfair 101 Group director James Mawhinney was involved in contraventions including misleading marketing of fixed income notes and operating without an Australian Financial Services Licence. The Court rejected specific ASIC allegations regarding risk profile comparisons and fund tracing but confirmed the company's failure to disclose suspended investor redemptions. ASIC is currently seeking injunctions to restrain Mr Mawhinney from advertising financial products and removing assets from Australia, with further submissions on relief due by August 2025.
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