The Australian Securities and Investments Commission (ASIC) has permanently barred Victorian insurance broker Robert Wilson from providing financial services.

Mr Wilson, of West Footscray, was disqualified after ASIC found he had engaged in misleading and deceptive conduct during his time with a Moonee Ponds insurance agency between March 2004 and October 2005.

ASIC’s investigation found Mr Wilson retained the insurance premiums of five clients, totalling $46,599, and spent it. He also created two false loan documents to obtain finance of $18,988.