Please note that the MFAA conducts regular reviews and may remove information from this site after seven years from publication other than in matters involving very serious misconduct.

Ms Rochelle Anne Weinert of Nedlands, WA

The MFAA Tribunal has cancelled the MFAA membership of Rochelle Anne Weinert. This follows on from the decision of ASIC to cancel the Member’s credit licence.

The membership cancellation is effective from 28 June 2019.

JL Financial Pty Ltd and Green Funding Pty Ltd (Mr Lawrence Toledo) of Sunnybank Hills, Qld
The MFAA Tribunal has cancelled the MFAA membership of JL Financial Pty Ltd and Green Funding Pty Ltd (Mr Lawrence Toledo).
This follows from the Nominated Representative of both Members being banned by ASIC from holding a financial services licence for 7 years. As a result, the Tribunal held that that person was not a "fit and proper person" to be a Nominated Representative for an MFAA member. Neither JL Financial Pty Ltd nor Green Funding Pty Ltd appointed another Nominated Representative. Corporate MFAA members must have an acceptable Nominated Representative. Consequently MFAA membership was cancelled.

The cancellation is effective from the 4 February 2019.

Ms Jiangyong (Jenny) Mao, Diamond Lady Financial Solutions of Sunnybank, QLD
The MFAA Tribunal has cancelled the Membership of Jiangyong (Jenny) Mao t/a Diamond Lady Financial Solutions. In November 2015 ASIC permanently banned Ms Mao from engaging in credit activities and providing financial services. Ms Mao appealed the ban to the AAT. The AAT, by consent, recently reduced the ban to 10 years. In order to be an MFAA member, a person that engages in regulated lending must operate under an Australian Credit Licence. Ms Mao will not have such a licence and is unlikely to be able to operate under a licence for at least 10 years. Consequently, the MFAA Tribunal has cancelled Ms Mao’s MFAA membership.

The membership cancellation is effective from 28/07/2017

​​Mr Raghwa Nand Prasad, of Chipping Norton, NSW  
The MFAA Tribunal has cancelled the MFAA membership of Mr Raghwa Nand Prasad. This follows on from Mr Prasad being banned from engaging in credit activities by ASIC.

The membership cancellation is effective from 15 August 2016.​

Mr David Brooke of Brooke Financial Solutions, NSW​
The MFAA Tribunal has cancelled the MFAA membership of Mr David Brooke of Brooke Financial Solutions, NSW. The Tribunal has determined that Mr Brooke no longer satisfies the requirements of MFAA membership as he has been declared a bankrupt.

The membership cancellation is effective from 8 June 2014.

Mr David St Pierre of Mount Nathan, QLD​
The MFAA Tribunal has cancelled the MFAA membership of Mr David St Pierre following an ASIC determination that he is permanently banned from engaging in credit activities. The determination followed a finding by ASIC that Mr St Pierre "is not a fit and proper person to engage in credit activities".

The cancellation is effective from 20 March 2014.

Mr Parmjit Singh of Narre Warren North, VIC
The MFAA Tribunal has cancelled the MFAA membership of Mr Parmjit Singh. This followed the Member having his credit licence cancelled by ASIC; ASIC was concerned that Mr Singh was not a “fit and proper” person to engage in credit activities.

The decision is effective from 10 March 2014. 

Mr Tony Quach of Springvale VIC​
The MFAA Tribunal has cancelled the membership of Mr Tony Quach following on from ASIC banning him from engaging in credit activities for 5 years and cancelling the Australian Credit Licence of his company, TQ Smartchoice Pty Ltd. 

The decision is effective from 18 December 2013. 

Ms Loriana Crews of Perth, WA
The MFAA Tribunal has cancelled the MFAA membership of Ms Loriana Crews as the Tribunal determined that Ms Crews no longer met the requirements of MFAA membership. This followed Ms Crews' conviction and sentencing for drug conspiracy. The decision is effective from 11 September 2013.

Mr Arthur Sperling
The MFAA Tribunal has cancelled the MFAA membership of Mr Arthur Sperling as the Tribunal determined that Mr Sperling no longer met the requirements of MFAA membership.​

This followed on from ASIC banning Mr Sperling from holding a credit licence for a period of 5 years.

Mr Constantinos Patniotis of Perth, WA
The MFAA Tribunal has determined that Mr Constantinos Patniotis of Perth, Western Australia, no longer meets the requirements of MFAA membership and that his membership of the MFAA be cancelled as from Monday, 25 February 2013.​

The basis of the cancellation is a permanent ban on Mr Patniotis by ASIC, which in the view of the Tribunal means that Mr Patniotis is not a “fit and proper” person to be an MFAA member.

Amitoz Singh and LoanX Pty Ltd
The MFAA Tribunal has cancelled the membership of Mr Amitoz Singh of LoanX Pty Ltd for not meeting the requirements of continuing MFAA membership in that he failed to comply with a Tribunal determination.

Mai Pacific Pty Ltd and Mr Daniel Nguyen of Bankstown, NSW
The MFAA Tribunal has cancelled the Membership of Mr Daniel Nguyen of Mai Pacific Pty Ltd effective from 25 October 2012. 

The Tribunal found that Mr Daniel Nguyen was no longer a fit and proper person to hold MFAA membership because of the ten criminal charges to which he recently pleaded guilty following an ASIC investigation into his mortgage broker business.