ASIC bans former ANZ representative
A former ANZ Bank representative has been permanently banned from providing financial services after the Australian Securities and Investments Commission (ASIC) investigated the misappropriation of more than $41,150 in client money.
ASIC found that Lynn Isaacs, of Sydney, had transferred money from customer accounts to her own account on 37 occasions between May 30, 2003, and September 12, 2005, claiming it was to cover various fees, charges, payments, disbursements, or because the client had requested it.
ANZ Bank notified ASIC of the situation and co-operated fully during its enquiry.
Isaacs has the right to lodge an appeal with the Administrative Appeals Tribunal.
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