The Australian Securities & Investments Commission (ASIC) has permanently banned financial adviser Barry David King from providing financial services after finding he is not a fit and proper person and is likely to contravene a financial services law. The ban took effect from 1 July 2025. ASIC found that King concealed information from clients, made false representations to ASIC, caused false documents to be provided to clients, managed client funds without written authorisation, and misused client funds by directing payments to his personal liabilities. He was also found not to have provided clients with records of their investments or informed them about the fate of their investments. The order also permanently bans him from controlling an entity that carries on a financial services business and from performing any function involved in the carrying on of a financial services business, and has been recorded on ASIC’s Banned and Disqualified Register. King has the right to apply to the Administrative Review Tribunal for review of ASIC’s decision. ASIC’s investigation into his conduct is ongoing, and it noted that it previously obtained court orders preventing him from leaving or attempting to leave Australia, which were extended to 1 July 2025.
Australian Securities & Investments Commission 2025-07-07
Australian Securities & Investments Commission permanently bans financial adviser Barry David King for dishonest misuse of client funds
The Australian Securities & Investments Commission (ASIC) has permanently banned financial adviser Barry David King from providing financial services due to his lack of fitness and propriety. King concealed information, made false representations, mismanaged client funds, and failed to inform clients about investments. The ban, effective 1 July 2025, is recorded on ASIC’s Banned and Disqualified Register. King may seek a review, and ASIC's investigation continues, with court orders preventing his departure from Australia extended to 1 July 2025.