The Australian Securities and Investments Commission (ASIC) has issued two orders permanently banning former Melbourne director Christopher David Nairn from the financial services and credit industries.

Mr Nairn falsified numerous documents by forging his clients’ signatures which allowed him to embezzle more than $650,000 in client funds.

ASIC found that Mr Nairn’s conduct was indicative of a person who lacks the honesty, integrity, professionalism and credibility to be involved in the financial services and credit industries.

ASIC has permanently banned Mr Nairn from providing any service or performing any function relating to the financial services and credit industries, and from controlling an entity carrying on a financial services business or a person involved in credit activities.

At the time of his misconduct, Mr Nairn was a director of Equus Private Wealth Pty Ltd and an authorized representative under the Australian financial services license of Capstone Financial Planning Pty Ltd. Between July 2011 and December 2014, Mr. Nairn was also a credit representative for Capstone.

Capstone is in the process of rehabilitating affected consumers.