The corporate watchdog has banned a former HSBC Australia financial planner for misleading customers into investing more than $4 million.
The Australian Securities and Investments Commission says Tak Simson Kwok will not be allowed to work in the financial services industry again.
Mr Kwok, who was based in Perth, worked for HSBC from September 2009 to December 2013.
ASIC found that Mr Kwok had misled and deceived four clients into investing a total $1.975 million, which the clients falsely believed had been placed into a HSBC-approved product.
He also misled and deceived another two clients into investing or reinvesting a total of $2.295 million in what the clients falsely believed was a HSBC-approved annuity investment.
ASIC said on Friday that Mr Kwok had forged documents and signatures to hide the fact that the money had not been invested in HSBC-approved products.
He also made sure HSBC erroneously believing he was only providing recommendations to clients about products on a bank-approved list.
"ASIC will act to remove those financial advisers from the industry who engage in dishonest conduct," ASIC commissioner John Price said in a statement.
ASIC investigated Mr Kwok after notification by HSBC, which took court action against Mr Kwok to force the return of money to affected clients.
Mr Kwok can appeal ASIC's decision.
ASIC has now banned 51 people from providing financial services since July 1, 26 of them permanently.
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