Mr Ben Cheung of Epping, NSW was an authorised ANZ representative during the time the misconduct, for which he was banned, took place.
ASIC banned Mr Cheung after finding he contravened financial services laws, and was not adequately trained or competent to provide financial services.
ASIC's investigation found that between April 2013 and March 2014, Mr Cheung engaged in misleading and deceptive conduct by forging signatures of clients on statements of advice, investment instruction forms and an investment withdrawal form, creating false bank documents, namely ANZ Adviser Diary Notes and creating false documents, namely Nil Advisory Service forms.
“Cracking down on behaviour like this goes to the heart of maintaining consumer trust and confidence,” ASIC deputy chair Peter Kell said.
“The banning of Mr Cheung demonstrates ASIC's Wealth Management Project is identifying and tackling this kind of fraudulent behaviour.”
Mr Cheung has appealed to the Administrative Appeals Tribunal for a review of ASIC's decision.
This outcome is a result of ASIC's Wealth Management Project. The Wealth Management Project was established in October 2014 with the objective of lifting standards by major financial advice providers. The Wealth Management Project focuses on the conduct of the largest financial advice firms (NAB, Westpac, CBA, ANZ, AMP and Macquarie).
[Related: Former Westpac manager cops permanent ban]