Regulatory Alerts2026-01-23
Administrative Review Tribunal Varies Milutin Petrovic's Financial Services Ban to Three Years
The Administrative Review Tribunal varied former United Global Capital financial adviser Milutin Petrovic's six-year ban to three years following a review of the original decision issued by ASIC. The reduced ban prohibits Petrovic from providing financial services, performing functions in a financial services business, or controlling such an entity for the new duration. This decision resolves concerns regarding Petrovic's role in providing conflicted personal advice to clients investing in speculative assets linked to UGC director Joel Hewish.
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