|Helm Advisory's Stephen Hathway|
Photo: SiN Images
Around midday yesterday ASIC released a statement advising that Hathway had given the regulator a voluntary undertaking (VU) to implement firm-wide training at Helm Advisory, the firm Hathway founded in October last year after being axed from SV Partners.
Since SiN broke the story of his departure from SV in September, it's been unclear what caused the falling out between Hathway and SV managing director Terry Van Der Velde. But an unfavourable ASIC compliance review that could be laid at Hathway's feet might explain it.
When contacted, Hathway was more interested in attacking the wording of ASIC's press release, pointing out that despite the compliance failures identified taking place while he was at SV Partners, the ASIC statement makes no mention of his former firm.
"This is appalling because the firm (Helm Advisory) only started in October (2015) and the offences that've been represented in this report were all related to SV Partners," he said.
"I think it's a terrible misleading statement by ASIC but I can't do anything about it."