National

PwC partner at centre of tax scandal banned by watchdog

By AAP Newswire

Oct 20, 2023

Consulting firm PwC was at the centre of a tax advice scandal. -AAP Image

A former partner at consulting firm PwC at the centre of a tax advice scandal has been banned from providing financial services for eight years by the corporate watchdog.

Hold tight - we’re checking permissions before loading more content

ASIC has banned Peter-John Collins from providing services in the industry, along with controlling companies that carry out financial services, following an investigation.

The investigation found Mr Collins was "not a fit and proper person" to provide services in the financial sector.

"It was in the public interest to prevent him from working in the financial services industry," the watchdog said in a statement.

Mr Collins, who was a tax advisor to the Commonwealth and a partner at PwC, was revealed to have passed on confidential Treasury information to boost private sector business for the consulting firm.

The conduct of PwC partners and others who knew of the conduct has been at the centre of multiple inquiries, including a federal police investigation.

ASIC's deputy chair Sarah Court told a parliamentary inquiry on Friday the watchdog had finalised its inquiry into Mr Collins on Tuesday.

She said there was a "broad suite" of bans against Mr Collins following the inquiry.

The watchdog said Mr Collins had the right to appeal the decision to the Administrative Appeals Tribune.

By AAP Newswire

Australian Associated Press