ASIC has commenced legal proceedings against a now defunct Perth-based company that channelled clients' money into Westpoint mezzanine investment products.
Last month the regulator sought to wind up Centro Financial Synergy Group and appoint a liquidator. The company has ceased to operate.
The regulator says Centro failed to comply with a request by ASIC to provide information about its financial services operation and lodge audited financial accounts.
It is understood that Centro is a principal member of the FPA, full member of the Mortgage Industry Association of Australia and holds a financial services license. Its managing director, Annamieke de Boer says she is a personally certified financial planner.
Centro offered advice on residential and commercial property, wealth creation, income protection, life trauma services and targeted retirees and self-managed super funds.
The matter will be heard in the Perth Federal Court on 28 February, 2007.
