ASIC slaps ban on former PwC partner Peter-John Collins

The news: ASIC has banned the man at the centre of PwC's tax leak scandal, Peter-John Collins, from providing financial services.

The numbers: Under the ASIC ruling, Collins will be unable to provide financial services or run an entity that carries on a financial services business for eight years. Collins was a PwC representative between 2004 and 2006, and later between 2013 and 2022.

The context: While working as a tax adviser on the federal government's multinational tax anti-avoidance law, the Tax Practitioners Board found Collins leaked confidential information to colleagues at PwC in order to give them an advantage to secure clients. Collins is able to appeal the ASIC ruling in the Administrative Appeals Tribunal.