After an investigation by the Australian Securities and Investments Commission and a hearing, the regulator has banned Mr Shane Thompson of New Gisborne in Victoria from providing financial services and credit activities for seven years.

Thompson was employed by National Australia Bank during the time of his misconduct. He was found to have contravened financial services laws and failed to be a fit and proper person to engage in credit activities. Between December 2012 and February 2013, according to ASIC, he engaged in misleading and deceptive conduct by:

• preparing and completing 'change of advisor' forms, forging clients' signatures without their knowledge or authorisation;
• submitting the false 'change of advisor' forms to mislead the product issuer into transferring general NAB clients to his personal financial planning client list; and
• receiving the financial planning remuneration benefit that flowed from the processing of these false forms.