A Tasmanian authorised representative has been permanently banned from providing financial services by the Australian Securities and Investments Commission (ASIC).

Phillip Kingston, of North Hobart, was banned following his conviction on two charges of stealing and one of dishonestly acquiring a financial advantage.

The offences occurred between January 2007 and June 2008 when he was an authorised representative of Choice Future Planning.

Mr Kingston subsequently became an authorised representative for Combined Insurance and continued to work there during the court case.

ASIC says it made the decision to permanently ban him as it had reason to believe Mr Kingston is “not a person of good fame and character”.

Because he was convicted of serious fraud, the Corporations Act requires the banning to be permanent, the regulator says.

Mr Kingston applied in May to the Administrative Appeals Tribunal for a review of ASIC’s decision, but withdrew his application in August. The banning took effect from April 8 this year.