The Australian Securities and Investments Commission (ASIC) has banned a Queensland financial adviser from providing financial services for two years.

An ASIC investigation found Darren Charles Lelliott sent emails to three people drawing their attention to an investment opportunity in Hippodrome, of which he was a director, relating to horse racing and gaming activities in Lithuania.

ASIC claims the statements made to potential clients were misleading or deceptive and had the potential to cause individuals to make financial decisions based on inaccurate information.