We have permanently banned Ms Anastasia Hronopoulos of New South Wales from providing financial services.

ASIC banned Ms Hronopoulos after an investigation revealed she had forged insurance documentation, failed to effect insurance for clients and allocated clients’ funds inappropriately.

Ms Hronopoulos was an insurance broker with Zuellig Insurance Brokers Ltd from November 1992 to January 2005 and OAMPS Insurance Brokers Ltd (OAMPS) from January to December 2005. OAMPS brought the matter to ASIC’s attention upon discovering irregularities in Ms Hronopoulos’ accounts and has worked closely with ASIC.

ASIC alleged that between October 2002 and August 2005, Ms Hronopoulos received monies from her clients intended to be used to effect insurance policies, but were instead used to pay the claims and debts of other clients.

Ms Hronopoulos also allegedly breached financial services laws by creating a number of false instruments that deceived her clients into believing that they held certain insurances when they did not.

Ms Hronopoulos has the right to lodge an application for review of ASIC’s decision with the Administrative Appeals Tribunal.