The Australian Securities and Investments Commission has permanently banned Queensland-based Anass Abdalla from providing financial services. 

ASIC found the adviser, while GM of a financial services licensee, asked an authorised representative who was not working at the time to sign documents misleading clients into thinking personal advice had been provided by the AR when it had not. 

The regulator will also stop Mr Abdalla from performing any function related to operating a financial services business or controlling an entity that carries on a financial services business.

“Mr Abdalla’s conduct gave reason to believe that he lacks the fitness and propriety to provide financial services or manage or control those who do,” ASIC says.

Mr Abdalla is entitled to appeal against the ban at the Administrative Appeals Tribunal.