On 3 March 2026, ASIC made orders permanently banning Yanhua (Scott) Chen from:
- providing any financial service
- controlling, whether alone or in concert with one or more other entities, an entity that carries on a financial services business, and
- performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity).
ASIC found that Mr Chen is not a fit and proper person and his conduct shows that he does not have the necessary judgement and character to operate in the financial services industry.
In making the banning order, ASIC had regard to Mr Chen's conduct in receiving $490,000 from a client to invest in certain stocks but instead he misused these funds to conduct trading on his own account at a loss. Mr Chen breached the trust placed in him by his client and led her to believe the money had not been lost.
Background
Mr Chen was a director of 61 Financial Information Technology Pty Ltd (deregistered) and Filli Capital Pty Ltd, financial firms based in Melbourne. Between 21 August 2019 and 30 November 2023, 61 Financial Information Technology Pty Ltd was an authorised representative of BeeMarkets Pty Ltd.
Mr Chen's banning has been recorded on ASIC's Banned and disqualified register.
