The Australian Securities & Investments Commission (ASIC) has permanently banned Melbourne-based financial adviser Patrick Nong from providing financial services, controlling an entity that carries on a financial services business, or performing any function involved in carrying on a financial services business, after finding he failed to comply with financial services law by engaging in misleading or deceptive conduct. Mr Nong worked at 360 Financial Strategists Pty Ltd and provided advice as an authorised representative of AMP Financial Planning Pty Ltd, now known as Akumin Financial Planning Pty Ltd. On three occasions between October 2023 and September 2024, he signed documents on behalf of four clients without their consent by dishonestly creating false records and consents, which were then processed and resulted in fees being taken from the clients’ superannuation accounts. ASIC found the conduct was dishonest, motivated by personal benefit through continued employment, and constituted a gross breach of trust, concluding he was not a fit and proper person and lacked the honesty and integrity required to participate in the financial services industry; his employment has been terminated and his authorisation revoked. The banning has been recorded on ASIC’s Banned and disqualified register, and Mr Nong may apply to the Administrative Review Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2026-02-04
Australian Securities & Investments Commission permanently bans adviser Patrick Nong for falsifying client consent and misleading conduct
The Australian Securities & Investments Commission (ASIC) has permanently banned Melbourne-based financial adviser Patrick Nong from providing financial services after finding he engaged in misleading conduct by signing documents without client consent, resulting in unauthorized fees. ASIC deemed Nong unfit for the industry due to dishonesty and breach of trust, and his employment and authorisation have been terminated.