An insurance broker has been banned after an Australian Securities and Investments Commission (ASIC) investigation found he engaged in dishonest conduct.

Leslie Allan Gentle, an authorised representative of Westlawn Insurance Brokers, deposited client cheques into his personal bank account between March and October 31 last year, ASIC says.

Westlawn reported the matter and ensured affected clients were not disadvantaged, according to the regulator.

“It is essential for those in the financial services industry to act with honesty and integrity at all times,” ASIC Deputy Chairman Peter Kell said.

“Individuals who do not act in this way will be removed from the industry.”

Coffs Harbour-based Mr Gentle can appeal the decision, and an ASIC spokesman told insuranceNEWS.com.au no court action or further proceedings are currently planned in the case.