The Australian Securities and Investments Commission (ASIC) has permanently banned former Gold Coast financial adviser Michel Ruurda from providing any financial service.

Cararra-based Mr Ruurda acted as a proper authority holder of Westpac from September 2002 until the authority was withdrawn in February 2004. He also acted as an authorised representative of two Australian financial services licensees.

But the regulator found Mr Ruurda had falsified client records by forging signatures, and engaged in conduct that was intended to mislead the licensees for whom he was an authorised representative.

ASIC’s investigation also found that he had been found guilty of fraud on another matter last year.