A former Sydney-based financial planning consultant has been permanently banned from providing financial services after an ASIC investigation found he had engaged in misleading and deceptive conduct.

Mr James Edward Maurice Rowe, formerly of Cremorne, was banned after ASIC found he had forged the signatures of individuals applying for finance to purchase woodlots from FEA Plantation Ltd (FEA) (administrators appointed). FEA relied upon the accuracy of the forms at the time of approving finance.

In late June 2008, Mr Rowe forged two loan applications to FEA with a total value of approximately $300,000. Mr Rowe received approximately $5000 as a referral fee.

Mr Rowe, who was originally subject to ASIC’s decision in August 2010, had applied to the Administrative Appeals Tribunal for a review of the decision and recently withdrew that application.

ASIC’s action against Mr Rowe reinforces the Commission’s commitment to building confidence in the integrity of Australia’s financial planning industry by ensuring those providing advice maintain high ethical standards.