ASIC has banned Sydney-based mortgage broker Ms Thi Hoa Trieu from engaging in credit activities, controlling another person who engages in credit activities, and performing any function involved in the engaging in of credit activities for a period of ten years.
ASIC has also cancelled Ms Trieu's Australian credit licence. Ms Trieu held a credit licence from 12 October 2011 and provided mortgage broking services including arranging home loans.
ASIC found that Ms Trieu:
- contravened credit legislation by making false or misleading statements to ASIC in two annual compliance certificates, as she omitted any reference to:
- her termination as a broker with two lenders and an aggregator; and
- her having adequate arrangements and systems in place for compliance with the general conduct obligations of Australian credit licensees (Compliance Arrangements);
- is not a fit and proper person to participate in the credit industry as she:
- made false or misleading statements in documents she was required to lodge with ASIC as an Australian credit licensee;
- failed to maintain books and records evidencing the Compliance Arrangements; and
- failed to ensure that industry funding levies applicable to her licence were paid on time;
- is likely to contravene credit legislation because she demonstrated a lack of:
- honesty and integrity by submitting documents containing false statements to ASIC; and
- understanding of her obligations under the credit legislation as an Australian credit licensee and did not demonstrate how she would address her lack of understanding.
Ms Trieu's banning and licence cancellation took effect on 8 December 2025.
Ms Trieu has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.
Background
Ms Trieu was the sole fit and proper person and responsible manager under her credit licence.
ASIC maintains a register that provides information about people who have been disqualified from:
- involvement in the management of a corporation,
- auditing self-managed superannuation funds (SMSFs), or
- practising in the financial services or credit industry.
Moneysmart.gov.au has useful information for consumers about using a mortgage broker and how to complain about a business.
