The Australian Securities and Investments Commission (ASIC) has permanently banned Queensland-based financial adviser Anass “Caesar” Abdalla from providing financial services, performing any function involved in the conduct of a financial services business and controlling an entity carrying on a financial services business services.

ASIC found that Mr Abdalla as managing director of the financial services licensee asked an authorized representative of the licensee, who was not employed at the time, to sign documents misleading clients into believing that the personal advice had been provided by the licensee agent when he had was not.

Mr. Abdalla’s conduct gave reason to believe that he lacks the ability and competence to provide financial services or to manage or control those who do.

Mr Abdalla has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.