The Australian Securities and Investments Commission (ASIC) has banned Seven Hills Queensland's Mark Andrew Cooper from providing any financial services for seven and a half years.。

Cooper is also barred from controlling an entity engaged in the financial services business for seven and a half years, as well as performing any functions related to engaging in the financial services business.。

Between August 27, 2012 and February 4, 2020, Cooper was the sole director of Acquire Strategic Advisers Pty Ltd and served as the company's Chief Financial Officer from January and February 2022.。

ASIC found in its injunction against Cooper that his conduct in financial services was misleading and deceptive.。

ASIC also determined that Cooper caused or allowed Acquire to collect annual review fees from 240 clients' self-managed super funds between January 2018 and January 2022, and that these annual reviews were not conducted, and therefore Cooper was not a fit and proper person in financial services, nor was he adequately trained or competent.。

He also caused or allowed Acquire to not have systems in place to ensure that customers received their paid annual customer reviews.。In addition, he failed to ensure that the file records of the client's annual review were uploaded to the document management system within a reasonable time after the review was completed, and therefore failed to maintain complete, accurate and reliable records。

Mr Cooper has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's ruling。