ASIC has banned former financial adviser, Mr Robert Gunner, of Brisbane, Queensland from providing financial services for seven years.

Mr Gunner was employed as a representative of GuardianFP from 15 February 2013 until 4 May 2016.　

ASIC found that between January 2014 and February 2016, Mr Gunner failed to comply with financial services laws, in that he:

• assisted clients to access their superannuation by advising them to acquire multiple insurance policies through their superannuation fund;
• upon receiving commission from the issuer of the insurance, Mr Gunner paid those commissions to the client less his own expenses; and
• in doing this Mr Gunner created insurance application forms, client file notes, client profiles and Statements of Advice that contained false information.

ASIC Deputy Chair Peter Kell said, 'ASIC is determined to ban financial advisers who deliberately breach the law from the financial services industry.'

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