ASIC also found Ms Tran had failed to co-operate with the Australian Financial Complaints Authority regarding complaints made about her, or to respond to the corporate regulator’s notices to produce, and she had also made false and misleading statements to ASIC.

The corporate regulator said it had cancelled Ms Tran’s licence and was also assisting NSW Police with an ongoing investigation into her conduct.

The decision follows the disqualification of Ms Tran as an SMSF auditor in July last year after it was found she was not a fit and proper person to hold the position.

At the time, ASIC said she had been previously deregistered from a statutory role by another regulator, which had played a role in her subsequent disqualification.

The corporate regulator said Ms Tran had the right to seek an appeal of her permanent banning from the financial services industry via the Administrative Appeals Tribunal.