ASIC permanently bans Yanhua (Scott) Chen after $490,000 client loss
ASIC has permanently banned Melbourne-based adviser Yanhua (Scott) Chen a former director of 61 Financial Information Technology Pty Ltd (now deregistered) and Filli Capital Pty Ltd, from the financial services industry following misconduct that resulted in significant financial loss to a client.
The ban follows findings that Mr Yanhua (Scott) Chen received approximately $490,000 from a client to invest in shares, but instead used the funds to conduct trading on his own account. The trading resulted in losses, and Mr Chen subsequently misled the client into believing the funds had not been lost.
ASIC found that Mr Chen’s conduct demonstrated a serious breach of trust and a lack of integrity, concluding that he is not a fit and proper person to participate in the financial services industry.
At the time of the misconduct, Mr Chen was a director of 61 Financial Information Technology Pty Ltd (now deregistered) and Filli Capital Pty Ltd. Between August 21st 2019 and November 30th 2023, 61 Financial Information Technology Pty Ltd was an authorised representative of BeeMarkets Pty Ltd.
Yanhua (Scott) Chen has been permanently banned from:
providing financial services
controlling a financial services business, and
performing any function within a financial services business.
ASIC has recorded the banning on its Banned and Disqualified Register.
This information is based on the ASIC Media Release (26-070MR) from the 10th of April 2026 and is true at the time of publishing.
