The corporate regulator has entered into enforceable undertakings with the two remaining former Trio Capital directors, Keith Finkelde and David O'Bryen.
"ASIC is serious about holding gatekeepers to account," ASIC chairman Greg Medcraft said yesterday.
"Since July 2011, ASIC has entered into enforceable undertakings with each of Trio's former directors to prevent them from operating in the financial services industry and to deter others.
"Our investigations into the Trio matter continue."
Finkelde was a non-executive director from April 2007 and a member of the investment committee of Trio from July 2008.
He has agreed not to act in any role within the financial services industry and not to act as a director of any corporation for four years.
O'Bryen was a non-executive director of Trio from June 2007.
He was chairman of the risk and compliance committee of Trio during 2008 and 2009.
O'Bryen has agreed not to act in any role within the financial services industry for four years.
He has also agreed not to act as a director of any corporation for four years with the exception of a company that acts as trustee of O'Bryen's self-managed superannuation fund.
On 12 August, former Astarra Asset Management director Shawn Richard was sentenced to two-and-a-half years in jail and an additional 15-month good behaviour bond for two charges of dishonest conduct.
Trio Capital was the trustee of five superannuation entities and the responsible entity for 25 managed investment schemes, including the Astarra Strategic Fund.
It was placed into administration on 16 December 2009 and on 16 April 2010 the New South Wales Supreme Court ordered the Astarra Strategic Fund be wound up.
Since that time, the liquidator of Trio Capital has been unable to recover the vast majority of the investments made by the Astarra Strategic Fund.
ASIC and Australian Prudential Regulation Authority investigations into Trio Capital are continuing.
