Tuesday - April 5: - The Australian Securities
and Investments Commission has stopped further promotion of wealth
creating seminars until a court hearing over the issue.
In response to proceedings commenced by ASIC, Mr Jamie McIntyre
and 21st Century Academy Pty Ltd (21st Century Academy) have both
undertaken to the Federal Court of Australia that they will not promote
or conduct any seminars, or similar events, anywhere in Australia until
the proceedings brought against them have been heard and determined by
the Court.
As a result, a series of seminars scheduled to be held on the
Gold Coast from 27 to 29 May 2005 will now not take place.
Mr McIntyre and 21st Century Academy also undertook to the
Court that they would not print, publish or distribute the book "What I
Didn't Learn At School But Wish I Had" (in its current form) until
further order of the Court.
On March 3, 2005, ASIC commenced proceedings against Mr
McIntrye and 21st Century Academy alleging that during 2004 and 2005,
they had carried on a financial services business by giving advice, or
making recommendations, with respect to derivatives and securities,
while not holding an Australian Financial Services licence.
ASIC alleges that the advice and recommendations were provided
to members of the public at seminars and in publications distributed or
promoted by 21st Century Academy.
ASIC is seeking declarations from the Court that Mr McIntyre
and 21st Century Academy have contravened the Corporations Act 2001.
ASIC is also seeking final orders to restrain them from continuing
this conduct.
The trial will commence before Justice Merkel in the Federal
Court of Australia on July 12, 2005.