Former NSW financial adviser Ezzat-Daniel Nesseim, of Pymble, NSW, appeared today in the Sydney Downing Centre Local Court, charged with seven offences of engaging in conduct in breach of permanent banning orders issued by ASIC.

ASIC alleges that, between June 2022 and December 2024, Mr Nesseim engaged in two substantive categories of offending: First, by performing functions involved in the carrying on of a financial services business in relation to three businesses, and second, by providing personal financial product advice to four consumers, both in breach of the permanent banning orders made against him under sections 920A and 920B of the Corporations Act 2001 (Cth).

ASIC’s permanent banning orders are designed to protect consumers and the integrity of Australia’s financial services industry. ASIC will take action where it alleges those orders have been breached.

The matter is being prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP), following a referral from ASIC.

The court ordered the brief of evidence to be served by 8 December 2026. The matter is next listed for mention at Downing Centre Local Court on 8 December 2026.

Background

On 28 February 2018, Mr Nesseim was permanently banned by ASIC from providing financial services.

On 19 July 2019, Mr Nesseim was permanently banned by ASIC from engaging in credit activities.

On 13 May 2022, Mr Nesseim was sentenced to a three-year intensive correctional order, including one year of home detention, for engaging in dishonest conduct and providing falsified documents to ASIC (22-110MR).

On 14 July 2022, ASIC made a further banning order against Mr Nesseim, permanently banning him from controlling an entity which carries on a financial services business and from performing any function involved in the carrying on of a financial services business.

More information

ASIC maintains public registers that can be searched to check whether a person has been banned or disqualified from providing financial services, managing corporations or engaging in other regulated conduct Banned and disqualified registers.

ASIC's Moneysmart website has useful information for clients of advisers to help them understand what to do if their adviser has been banned.