{"id":79542,"date":"2025-10-02T11:57:28","date_gmt":"2025-10-02T01:57:28","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=79542"},"modified":"2025-10-07T11:46:48","modified_gmt":"2025-10-07T00:46:48","slug":"asic-bans-former-insurance-adviser-for-8-years","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/10\/02\/asic-bans-former-insurance-adviser-for-8-years\/","title":{"rendered":"ASIC Bans Former Insurance Broker for 8 Years"},"content":{"rendered":"<p>ASIC has banned former life insurance broker <strong>Munther El-Alami<\/strong> from providing any financial services for eight years.<\/p>\n<p>The decision follows allegation by the regulator that El-Alami engaged in misleading or deceptive conduct by making misleading or false representations when submitting applications for life policies on behalf of clients.<\/p>\n<p>El-Alami was an authorised representative of Alternative Media Pty Ltd from 14 September 2022 until 26 June 2023. During the period of alleged misconduct, he was employed as a life insurance specialist by Advizer Pty Ltd.<\/p>\n<p>ASIC also believes El-Alami is not a fit and proper person, is not competent to participate in the Australian financial services industry, and is likely to contravene financial services law.<\/p>\n<p>Included in ASIC&#8217;s eight-year ban is that El-Alami will not be able to control an entity that carries on a financial services business, or perform any function within a financial services business.<\/p>\n<p>The ban took effect 17 September 2025 and has been recorded on ASIC&#8217;s <a href=\"https:\/\/www.asic.gov.au\/online-services\/search-asic-registers\/banned-and-disqualified\/\" target=\"_blank\" rel=\"noopener\">banned and disqualified register.<\/a><\/p>\n<p>El-Alami has the right to appeal to the Administrative Review Tribunal for a review of ASIC\u2019s decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASIC has banned former life insurance broker Munther El-Alami from providing any financial services for eight years. The decision follows allegation by the regulator that El-Alami engaged in misleading or deceptive conduct by making misleading or false representations when submitting applications for life policies on behalf of clients. El-Alami was an authorised representative of Alternative [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":79545,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8],"tags":[],"class_list":{"0":"post-79542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-associations","8":"category-compliance-regulation"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=79542"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/79545"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=79542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=79542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=79542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}