The Australian Securities and Investments Commission (Asic) has permanently banned Ezzat-Daniel Nesseim from performing any function involved in the operation of a financial services business or controlling an entity that operates one.
The former financial adviser was handed a three-year “intensive correctional order” for dishonesty in May 2022 after pleading guilty to five charges in November 2021, the regulator said.
He was charged and sentenced for engaging in dishonest conduct, providing forged documents to Asic and for lying to the watchdog when asked about the documents.
Under the Australian Corporations Act, Asic has the ability to permanently ban a person from the financial services industry if they are convicted of a fraud offence.
Nesseim was also permanently banned from engaging in credit activities in July 2019.
The ex-adviser has the right to appeal to the Administrative Appeals Tribunal for a review of the regulator’s decision.
