The Australian Securities and Investments Commission (ASIC) has permanently banned insurance broker Mark Chapple from providing financial services.

It comes after Chapple was convicted in May of four counts of obtaining money by deception and four counts of dishonestly obtaining financial advantage by deception, having admitted all charges at NSW Magistrates Court in Tamworth. The life ban follows a successful appeal against a custodial sentence.

The fraud was committed while Chapple was an employee of rural insurance brokerage AgriRisk. He invoiced several clients directly for his services, despite having already been paid by his employer for the services.

ASIC Deputy Chairman Peter Kell says clients “should be able to trust that their insurance broker is providing a valuable service. This behaviour will not be tolerated.”

Chapple’s conduct was brought to ASIC’s attention by AgriRisk. The regulator says the brokerage has “fully assisted” with its enquiries.