Several advisers have been banned for dishonesty in insurance dealings, according to the Australian Securities and Investments Commission (ASIC) enforcement report for the six months to December.

Sydney financial adviser Susan Heathwood was permanently banned after receiving a suspended prison sentence for falsified policy applications.

Phillip Paddison, of Risk Transfer Services, a representative of Insurance Advisernet Australia, was also permanently banned for dishonest conduct involving more than 100 clients and $150,000 of their funds.

Payments were not forwarded to Insurance Advisernet and Mr Paddison failed to ensure clients were adequately insured, ASIC says.

Financial planner Dennis Cardakaris, of Morrison Carr Financial Services, was permanently banned for giving false information to an insurer for professional indemnity insurance and taking action to avoid client claims.

ASIC took 435 enforcement actions in the six months, including steps against insider trading, Ponzi schemes and individuals and companies providing financial services without a licence.

The regulator says consumers trust insurance representatives to help them buy complex products, so it is important they act with honesty and integrity.