Australia · Australian Securities and Investments Commission (ASIC) civil penalty proceedings

Steve Vizard: director ban

Ended ASIC said the court banned him for 10 years in July 2005. The end month of July 2015 is calculated from that date and length, no official end date was found. On that calculation the ban has run.

Grounds

ASIC said it took civil penalty proceedings against Stephen Vizard for misusing confidential information he obtained as a director of Telstra Corporation Ltd, after prosecutors found the evidence insufficient for criminal charges.¹

Companies

Telstra Corporation Ltd

Record

• July 2005ASIC civil proceedings resulted in a 10 year ban from managing any corporation and penalties of 390,000 dollars.¹

Sources

1. Australian Securities and Investments Commission, ASIC Annual Report 2004 to 2005, pages 1 to 15 (2005)

A disqualification restricts acting as a company director for the period stated. It is a civil measure and is not a criminal conviction unless stated. How bans work.