ASIC has banned former Sutherland Shire and Wollongong based financial adviser, Glenda Maree Rogan from providing financial services for ten years.
ASIC found that Ms Rogan did not comply with a financial services law by engaging in misleading or deceptive conduct. ASIC also found it had reason to believe that Ms Rogan is not a fit and proper person, is not competent to participate in the Australian financial services industry and is likely to contravene a financial services law.
Between March 2022 and June 2023, while she was a financial adviser with the 'Fincare' group of companies (Fincare) and an authorised representative of Australian financial services (AFS) licensee Private Wealth Pty Ltd, Ms Rogan transferred at least $14.8 million of funds invested by clients, family and friends to a cryptocurrency-based investment scam.
Ms Rogan made false statements to clients, and engaged in conduct that misled clients, about the nature, risks and liquidity of the investment to induce them to invest, including that it was a high-yield fixed interest account, rather than cryptocurrency which carried significant risk, and that clients were dealing with her in her capacity as a representative of Fincare.
Investors' funds were transferred to bank accounts held by Ms Rogan and her personal company, the majority of which were converted to cryptocurrency then transferred to various wallets nominated by the Financial Centre, purportedly a UK-based trading platform. The Financial Centre is listed on ASIC's Investor Alert List as an unlicensed entity that should not be trusted. ASIC found that Ms Rogan would have had suspicions about the legitimacy of the Financial Centre from at least October 2022.
Ms Rogan has also been banned for ten years from:
- performing any function involved in the carrying on of a financial services business, and
- controlling an entity that carries on a financial services business.
The banning took effect from 6 June 2025.
Ms Rogan's banning has been recorded on ASIC's banned and disqualified register.
Ms Rogan has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.
ASIC's investigation into Ms Rogan's conduct is ongoing.
Background
During the period of misconduct, Ms Rogan was an accountant and financial adviser at a group of companies known as Fincare in Sutherland and Wollongong, being Fincare Planning Pty Ltd, Fincare Private Wealth Pty Ltd and Fincare Accounting Pty Ltd. Ms Rogan was also a director of those companies at various times between May 2014 and 8 February 2024. Ms Rogan was an authorised representative of AFS licensee Private Wealth Pty Ltd from 10 November 2020 to 8 February 2024.
Ms Rogan has not been licensed or authorised to provide financial services under an Australian financial services licence since 8 February 2024.
If you are impacted by Ms Rogan's conduct, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).
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