Hobart-based Ashley Grant Howard has been convicted, after pleading guilty before the Downing Centre Local Court, to two charges of using false documents to obtain a financial advantage or cause a financial disadvantage.
In a statement on Wednesday, ASIC confirmed that between July 2013 and April 2014, Mr Howard used false off market transfer forms to transfer shares in GPS Alliance Holdings Limited, BHP Billiton Limited and Aquarius Platinum Limited to himself and an associate.
The transfers occurred without the knowledge or authority of the 14 owners of the shares.
Mr Howard was sentenced to a 12-month community corrections order.
Magistrate Covington remarked upon sentencing that Mr Howard was in a position of trust as a financial planner when he used the false documents and that his offending had a degree of sophistication.
The Commonwealth Director of Public Prosecutions prosecuted the matter after a referral from ASIC.
Previously, Mr Howard pleaded guilty to the offences under s254(b)(ii) of the Crimes Act 1900 (NSW). The maximum penalty per offence, when dealt with summarily, is two years imprisonment and/or a fine of $11,000.
In October 2016, ASIC permanently banned Mr Howard from providing financial services in relation to matters unrelated to the charges before the Court.
