The Australian Securities and Investments Commission (ASIC) has permanently banned former AMP adviser David Fong for his dishonest conduct.

Mr Fong was an authorised representative of AMP Financial Planning from January 2004 to December 2014 and an AMP credit representative from July 2010 to December 2014.

ASIC says its investigations revealed the Perth adviser engaged in dishonest conduct relating to client records and application for financial products, and did not provide clients with appropriate advice. Nor did he comply with the best-interests duty when advising clients on superannuation and insurance matters.

“Mr Fong’s dishonesty was not confined to a single event or client and is illustrative of a person who has a fundamental lack of honestly and professionalism,” ASIC says.

“On this basis, ASIC has reason to believe that Mr Fong is not of good fame or character.”