ASIC has permanently banned Mr Roy Whye Wah Moo of Doncaster East, Victoria, from providing financial services and engaging in credit activity.

Until 2013, Mr Moo was an Australian financial services authorised representative and an authorised credit representative of a national financial planning firm.

ASIC took action after Mr Moo pleaded guilty in December 2013 in separate proceedings in the County Court of Victoria to one charge of dealing with money which was the proceeds of crime, where the value of the money was $100,000 or more.

Under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, ASIC may ban anyone who is convicted of fraud.

Mr Moo has the right to lodge an appeal with the Administrative Appeals Tribunal for a review of ASIC’s decision to ban him.