The Australian Securities and Investments Commission has taken out an injunction to prevent a Sydney financial adviser from carrying on a financial services business.

It alleges Melinda Scott has been involved in fraud.

Ms Scott is an authorised representative of Millennium 3 Financial Services, a financial advice business owned by the ANZ Banking Group.

The May 18 injunction means Roach Graham Scott Pty Ltd and Roach Scott Pty Ltd, of which Ms Scott is a director, cannot carry out any financial services business.

The injunction also restrains the businesses from disposing of any property, including money and securities.

The matter will return to court on June 18.