As detailed in the official announcement, the Australian Securities & Investments Commission (ASIC) decided to remove Timothy William Parry and Damian Garnet Price. They were head and officer of North Coast Financial Services Pty Ltd, from ruling the company or executing any tasks as an officer of an entity for six years. They still have the right to appeal.
Mr Parry was the sole head of the firm between September 2008 and October 2020. Mr Price worked there as an officer for the same period of time. They were ruling the firm, but they did not operate as financial advisers there.