The Australian Securities and Investments Commission (ASIC) has permanently barred a NSW insurance broker from providing financial services for misappropriating client funds.

Dennis Whittaker is accused of embezzling $120,000 of clients’ funds from 2002 to 2005. ASIC says that as GM of Carrington Insurance Brokers he deposited company cheques into his personal bank accounts to help pay for his own insurance, amongst other things.