Former ISG Director Benjamin Godfrey Banned for 10 Years

ASIC Media Releases

Filed March 31st, 2026

Detected April 8th, 2026

Summary

ASIC has banned Benjamin Godfrey, former director and responsible manager of ISG Financial Services Limited (in liquidation), from providing financial services, controlling a financial services entity, or performing any function involved in carrying on a financial services business for 10 years under sections 920A and 920B of the Corporations Act 2001. The ban takes effect on 31 March 2026.

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What changed

ASIC issued a 10-year banning order against Benjamin Godfrey under sections 920A and 920B of the Corporations Act 2001. The grounds for the ban include failure to comply with financial services laws, involvement in contraventions by other persons, not being a fit and proper person, inadequate training or competence, likelihood of future contraventions, and being an insolvent under administration.

Financial services entities must ensure that Mr. Godfrey and any other banned individuals are not engaged in any capacity involving financial services. This includes prohibiting him from serving as an officer, manager, employee, or contractor. Companies should review their governance and compliance frameworks to verify that all directors and responsible managers meet the fit and proper person requirements under Australian financial services law.

What to do next

Review current financial services personnel for fitness and propriety
Ensure no banned individuals are employed or contracted in financial services roles
Update compliance procedures for verifying director and officer eligibility

Penalties

10-year prohibition from providing financial services, controlling a financial services business entity, or performing any function involved in the carrying on of financial services business (including as officer, manager, employee, contractor). Right to seek Administrative Review Tribunal review available.

Source document (simplified)

Newsroom

Print Share ASIC has banned Benjamin Godfrey, the former director and responsible manager of ACN 114 733 569 Limited (in liquidation), formerly known as ISG Financial Services Limited (ISG), from providing financial services, controlling an entity that carries on a financial services business or performing any function involved in the carrying on of a financial services business for 10 years, under ss920A and 920B of the Corporations Act 2001.

ASIC found that Mr Godfrey:

failed to comply with financial services laws
was involved in the contravention of a financial services law by another person
was not a fit and proper person to provide financial services, perform functions as an officer of an entity that carries on a financial services business or control an entity that carries on a financial services business
was not adequately trained or competent to provide financial services, perform functions as an officer of an entity that carries on a financial services business or control an entity that carries on a financial services business
may be likely to contravene a financial services law, or may become involved in the contravention of a financial services law by another person, and
is an insolvent under administration.
Mr Godfrey is prohibited from:
providing any financial services
controlling, whether alone or in concert with one or more other entities, an entity that carries on a financial services business, and
performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity).
Mr Godfrey’s banning will be in effect for 10 years from 31 March 2026.