Regulatory Alerts2025-10-09
ASIC bans former Lighthouse Partners director Timothy Archibald for 10 years for fees for no service conduct
The Australian Securities and Investments Commission has issued a 10-year banning order against former Lighthouse Partners director Timothy Archibald for engaging in fees for no service conduct affecting 14 clients. ASIC determined Archibald was not a fit and proper person due to his failure to report misconduct, inadequate investigation, and personal enrichment by retaining approximately $81,652 in improper fees. The ban, which took effect on 30 June 2025, prohibits him from providing financial services or controlling a financial services entity, following his subsequent withdrawal of an application to stay the decision.
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