On 10 October 2023, the Administrative Appeals Tribunal (AAT) set aside ob体育鈥檚 decisions to ban Dominique Grubisa, the founder of DG Institute Pty Ltd, from engaging in credit activities and financial services.聽聽
ob体育 had previously banned Ms Grubisa for four years following findings that she claimed to hold Australian financial services and credit licences when she did not, and that she was not a fit and proper person to engage in financial services or credit activities (22-079MR).听
In setting aside the banning orders made against Ms Grubisa, AAT Deputy President Bernard J McCabe was satisfied that grounds existed to make the banning orders but was not satisfied the discretion should be exercised.聽
Deputy President McCabe said, 鈥業 do not see how a banning order made pursuant to the Corporations Act or the NCCP Act will further a legitimate regulatory interest. In reaching that conclusion, I do not mean to excuse the applicant鈥檚 problematic behaviour that has been uncovered through ob体育鈥檚 diligent investigations. But the issues she presents are issues for a different decision-maker.鈥櫬犅�
ob体育 is carefully reviewing the AAT鈥檚 decision.聽聽
Background
Ms Grubisa is the founder of the DGI group of companies, which includes DG Institute. Through DG Institute, Ms Grubisa provided training courses and services covering asset protection and wealth management, which were delivered through live seminars and broadcast online.聽
The Australian credit licence of Master Wealth Control, another company associated with Ms Grubisa, was cancelled on 5 May 2021 because it had not engaged in credit activities since it was granted (21-079MR).