ASIC has banned North Hobart-based insurance agent Phillip John Kingston from providing financial services, after his conviction on two charges of stealing by agent, one charge of stealing and one charge of dishonestly acquiring a financial advantage.
The offences occurred between January 2007 and June 2008.
Kingston had pleaded guilty on 20 May 2010 to each charge.
ASIC made the decision because it had reason to believe Kingston was not a person of good fame and character.
Under such circumstances, the Corporations Act requires the banning to be permanent.
At the time the offences were committed, Kingston was an authorised representative of Choice Future Planning.
Later, he became an authorised representative for Combined Insurance and was so at the time of the court proceedings.
The ban took effect from 8 April 2011.
