The Australian Securities and Investments Commission (ASIC) has imposed a three-year ban on financial adviser Gurumukh Singh Mehra for failing to act in clients’ best interests.

An ASIC surveillance of life insurance advice found Mr Mehra, who was representing Spectrum Wealth Advisers, was not fully trained to provide advice. He did not take clients’ circumstances into account when recommending new products.

ASIC will record his ban on its Financial Adviser Register.

Mr Mehra can challenge the ban through the Administrative Appeals Tribunal.