The Australian Securities and Investments Commission (ASIC) has dismissed charges laid against a former Tasmanian insurance agent who was acting as an insurance broker even though he was unlicensed following his fraud conviction in the Supreme Court of Tasmania.

Robin Brunetti was discharged in the Burnie Magistrates Court in relation to three ASIC charges directed from a request of the Commonwealth Director of Public Prosecutions.

Mr Brunetti was convicted in August last year of six counts of stealing by misappropriation, following an investigation by Tasmanian Police into his conduct through Brunetti Insurance Services.

Mr Brunetti was sentenced to six months’ imprisonment with three months suspended on good behaviour for two years following his release from jail.

ASIC sought action against Mr Brunetti following an investigation into his conduct as an insurance broker between February 13 2002 and April 7 2003.

Mr Brunetti acted as an unlicensed insurance broker, breaching the provisions of the Corporations Act 2001 relating to the requirement to hold an Australian financial services licence.

On June 16 2004 ASIC permanently banned Mr Brunetti from providing financial services.