The Australian Securities and Investments Commission (ASIC)  has permanently banned broker and convicted fraudster Bruce Wickett from providing financial services.

The 70-year-old, who was director of Wickett Insurance Broking, last year admitted misappropriating premiums paid by about 200 clients between August 2010 and March 2011.

In August, Victoria’s County Court sentenced him to 18 months’ jail over the theft of $662,198.

ASIC claimed Mr Wickett sent the money overseas to a person he had developed a relationship with online.