The Australian Securities & Investments Commission (ASIC) has permanently banned former New South Wales financial adviser David Mario Valvo from providing financial services following his conviction for dishonesty offences. Mr Valvo was convicted in 2025 of engaging in dishonest conduct in the course of carrying on a financial services business, after dishonestly obtaining AUD 110,000 from clients’ superannuation accounts between July 2019 and January 2020 by submitting ad hoc adviser fee forms that purported to authorise withdrawals clients had not approved, signed or consented to. The ban prohibits him from providing financial services, controlling an entity that carries on a financial services business, or performing any function involved in the operation of such a business; the order took effect on 22 January 2026 and has been recorded on ASIC’s banned and disqualified register.
Australian Securities & Investments Commission 2026-02-05
Australian Securities & Investments Commission permanently bans former NSW financial adviser David Valvo after dishonesty conviction
The Australian Securities & Investments Commission has permanently banned former New South Wales financial adviser David Mario Valvo from providing financial services following his conviction for dishonestly obtaining AUD 110,000 from clients’ superannuation accounts. The ban, effective 22 January 2026, prohibits him from providing financial services or controlling a financial services business.