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

An investigation by ASIC found Michael Andrew Crawley, of Yarraville, engaged in dishonest conduct by falsifying loan applications for premium insurance funding from Ascot Premium Finance between October 2006 and April 2007.

ASIC says Mr Crawley, who was a director of Infac Insurance at the time, misused his position to obtain unauthorised loans of more than $500,000.

And it believes he would not comply with financial services law in the future.