Regulatory Alerts2026-02-04
ASIC permanently bans Patrick Nong from the financial services industry
The Australian Securities and Investments Commission has permanently banned Melbourne-based financial adviser Patrick Nong for engaging in dishonest conduct by forging client signatures on financial documents. Between October 2023 and September 2024, Nong signed consents on behalf of four clients without their knowledge to facilitate fee deductions from their superannuation accounts, motivated by a desire to retain his employment. ASIC determined that Nong is not a fit and proper person to participate in the industry due to his gross breach of trust and lack of integrity, resulting in the termination of his employment and revocation of his authorisation.
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