ASIC has tossed another former Westpoint adviser out of the profession, handing down a five-year ban to Pierre Schinazi of Perth.

It claims Mr Schinazi provided inappropriate advice in relation to investments in Westpoint, which collapsed in a $300 million bust two years ago.

Mr Schinazi was found to have made misleading statements to clients concerning the features and risk of Westpoint investments and failed to give a reasonable basis for his recommendations.

He was the sole director and responsible officer of Ascare Financial Services at the time of his actions.

Nineteen licensed advisers and four unlicensed advisers have now been banned by ASIC in relation to Westpoint.