ASIC has permanently banned Mr Leslie Allan Gentle, a former insurance broker from Coffs Harbour, NSW, from providing financial services after an investigation found he engaged in dishonest conduct in relation to the use of client funds.

ASIC's investigation found that between March 2013 and 31 October 2013, Mr Gentle deposited client cheques for his own use into his personal bank account without their permission on multiple occasions. This included:

• insurance claim payments for his clients who he then deceived by failing to advise them of the payment, and
• insurance premium payments from clients that he then used for his own purposes.

Deputy Chairman Peter Kell said, 'It is essential for those in the financial services industry to act with honesty and integrity at all times.

'Individuals who do not act in this way will be removed from the industry.'

Mr Gentle has the right to appeal to Administrative Appeals Tribunal for a review of ASIC's decision.

Background

Mr Gentle was an authorised representative of Westlawn Insurance Brokers Pty Ltd.

Westlawn Insurance Brokers Pty Ltd reported the matter to ASIC and have ensured that the affected clients of Mr Gentle were not disadvantaged in any way.