The Australian Securities and Investments Commission (ASIC) has permanently banned a Victorian broker who impersonated policyholders.

Christopher Anthony Vassallo was an authorised representative of Salisbury Group from May 2011 to April last year and sole director and secretary of Australian Life Insurance Services (ALIS) from March 2012.

ASIC found that between April 2011 and October 2012 Mr Vassallo impersonated a number of policyholders of Australian Life Insurance Group (ALI Group) after they inadvertently contacted ALIS.

On 15 occasions he impersonated them when ringing ALI Group to get policy information.

Twice he fabricated and submitted false documents to ALI Group to cancel policies, for the purpose of signing the clients to ALIS.

ASIC found Mr Vassallo, of Essendon, engaged in dishonest conduct and is not of good fame or character for the purpose of providing financial services.

He has applied to the Administrative Appeals Tribunal for a review of the decision.