David McCallum Foulds CA of Victoria 
 
4 May 2006 
 
On his own admission the Professional Conduct Tribunal found a case established that Mr Foulds was liable to disciplinary action in accordance with:

• 1. By-law 40(e), in that on 16 November 2004 a delegate of the Australian Prudential Regulation Authority disqualified him from being a trustee, investment manager or custodian of any superannuation entity, or a responsible officer of a trustee, investment manager, or custodian of any superannuation entity for having contravened the Superannuation Industry (Supervision) Act 1993 on more than one occasion 
   
  
• 2. By-law 40(b) in that on 14 December 2004 in the Magistrates’ Court, Melbourne he pleaded guilty to two charges of having engaged in prohibited conduct as a trustee and were discharged without proceeding to conviction under the Crimes Act 1914 by recognisance of $1000 and was ordered to be of good behaviour for eighteen (18) months and to pay $1500 to a named Charity.