The Australian Securities and Investments Commission (ASIC) has permanently banned Leon Keith Jamieson of Albany, Western Australia, from providing investment advice or dealing in securities.

ASIC is of the view that Mr Jamieson, the former principal of Leon K Jamieson & Associates, did not carry on his business honestly, fairly and efficiently, and that he would not do so in the future.

An ASIC investigation found that in a number of cases Mr Jamieson gave mortgage investors misleading information about the merits and risks of proposed mortgage investments, or failed to make adequate enquiries to assess the merits or risks of those investments.

Mr Jamieson is the seventh WA finance broker banned by ASIC this financial year.

'ASIC is committed to ensuring that the section of the WA finance broking industry within ASIC's jurisdiction carries on business honestly and competently, and we will take action against brokers who do not maintain the high standards that are essential in their profession', ASIC's Director Enforcement, WA, Stephen Howell said.