The Australian Securities and Investments Commission has brought seven charges against a Victorian insurance broker over alleged dishonest practices.

Anthony Ryan, of Doncaster, was charged in Melbourne Magistrates Court last week with dishonestly using his position to gain an advantage in relation to the insurance business he transacted through InterRe Insurance Brokers for insurance risks placed with QBE Mercantile Mutual.

He was also charged with dishonest conduct under the Corporations Act after he received insurance premiums on behalf of InterRe Insurance Brokers and failed to remit the full amount to the company, or provide the full details relating to the insurance premiums collected to the other director of the company.

The regulator alleges QBE Mercantile Mutual did not receive either the full amount of or full details of the insurance premiums collected as a result of Mr Ryan’s conduct.

The matter has been adjourned to October 14 for a committal mention.