Former AR banned from the industry

A NSW authorised representative has been permanently banned from providing financial services after using clients funds for his own purposes.

ASIC found that Leslie Allan Gentle, formerly an AR with Westlawn Insurance Brokers in Coffs Harbour, had engaged is dishonest conduct.

The regulator’s investigation found that on multiple occasions between March and October last year, Gentle had deposited both claim payments and premium payments into his own bank account.

Westlawn reported the matter to ASIC and ensured that no affected client was in any way disadvantaged.

ASIC Deputy Chairman Peter Kell says: “It is essential for those in the financial services industry to act with honesty and integrity at all times. Individuals who do not act in this way will be removed from the industry.”

Mr Gentle has the right to appeal to Administrative Appeals Tribunal for a review of ASIC’s decision.