Leigh Barker

Member’s name: Mr Leigh Barker
Date of Hearing: 27 March 2014
Division: New South Wales
Tribunal: Disciplinary Tribunal

On 27 March 2014 the Disciplinary Tribunal found Leigh Barker the subject of an adverse finding that has not been overturned on appeal in relation to the Member's conduct, competence or recognition by any Court, professional body, statutory or other regulatory authority in any jurisdiction’ being an Australian Securities & Investments Commission (ASIC) Banning Order prohibiting Mr Barker from providing any financial services for a period of five years effective 25 July 2012.

ASIC found that between October 2008 and April 2010, Mr Barker and companies associated with him (TATL) promoted to investors a ‘parallel imports business’ offering investors a return of 15% per shipping cycle.

ASIC found that TATL did not carry on a business of parallel importing. Instead, Mr Barker pooled the money and invested it in a parallel imports business purportedly run by another company, Reseau International Trading Pty Ltd.

Over 200 investors in the TATL scheme lost $12.5 million after Reseau collapsed in June 2010.

Mr Barker attended the Disciplinary Tribunal Hearing and admitted the Complaint.

Penalty and costs 

The Disciplinary Tribunal found the Complaint sustained and imposed the penalty of forfeiture of Membership until 24 July 2017.

Mr Barker was also ordered to pay costs of $813.58.