has permanently banned former insurance broker, Leslie Allan Gentle, from providing financial services after an investigation found he deposited client cheques for his own use into his personal bank account without their permission.
Gentle, from Coffs Harbour, NSW was an authorised representative of Westlawn Insurance Brokers.
's investigation found that between March 2013 and 31 October, 2013, Gentle deposited client cheques for his own use into his personal bank account without their permission on multiple occasions, including insurance claim payments for his clients who he then deceived by failing to advise them of the payment, and insurance premium payments from clients that he then used for his own purposes.
Deputy chairman Peter Kell
said: “It is essential for those in the financial services industry to act with honesty and integrity at all times. Individuals who do not act in this way will be removed from the industry.”
Westlawn has stressed that Gentle’s affected clients were not disadvantaged in any way.
Gentle has the right to appeal to Administrative Appeals Tribunal for a review of ASIC