The Australian Securities and Investments Commission (ASIC) has permanently banned Perth financial adviser Ms Paula Dollas-Ford from acting as a representative of any Australian financial services licence holder, and from providing any financial services.

Ms Dollas-Ford was an authorised representative of Matrix Planning Solutions Limited (Matrix) and operated The Dollas Group Pty Ltd, a financial planning business out of Subiaco in Perth until Matrix revoked her authorisation on 16 June 2005.

ASIC found that Ms Dollas-Ford affixed clients’ signatures on a letter to Matrix, without their knowledge or authorisation, directing Matrix not to roll their superannuation funds out of a Matrix fund and into another superannuation fund.

‘ASIC is determined to ensure the integrity of the industry and protection of consumers by excluding those who do not maintain high standards of probity’, Mr Jeremy Cooper, ASIC’s Acting Chairman said.

‘I would urge anyone dealing with a financial adviser to check ASIC’s website at www.asic.gov.au to see if the adviser is licensed, or has been banned from the industry’, Mr Cooper said.

Matrix reported the conduct to ASIC and has co-operated fully with ASIC’s enquiries.

Ms Dollas-Ford has appealed ASIC’s decision to the Administrative Appeals Tribunal.