The Australian Securities and Investments Commission (ASIC) has announced that it has imposed a four-year ban on Mr Robert Patrick Marie, former managing director of Theta Asset Management Ltd. He is banned from providing any financial services. Mr Marie has been banned due to violations of the Corporations Act resulting from the issuance by Theta of five defective Product Disclosure Statements (PDSs), which have attracted nearly 17 million US dollars from retail investors between May 2016 and May 2018.