The Australian Securities and Investments Commission (ASIC) has permanently banned insurance agent Kalman Gradman, of the Melbourne suburb of Caulfield North, from providing financial services.

Mr Gradman, trading as Icon Insurance Agencies, acted as an agent for a number of insurers from October 1999 to August last year. He also acted as an authorised representative of two separate Australian financial services licensees from December 2003 to July last year.

ASIC says Mr Gradman provided financial services unlicensed before becoming an authorised representative, engaged in misleading and deceptive conduct in relation to a premium funding agreement, and misused about $86,000 of client money paid to him as premiums.