ASIC bans WA financial service provider

The corporate watchdog has permanently banned Western Australian Jason Cox from providing financial services after he fraudulently collected $185,755.

The Australian Securities and Investments Commission said Mr Cox was sentenced earlier this year to 28 months imprisonment with parole, for 24 counts of fraud in the District Court.

"The offences involved Mr. Cox fraudulently obtaining funds from policy holders superannuation accounts. In total, Mr. Cox fraudulently obtained cheques totalling $185,755.41," ASIC said.

The watchdog added that Mr Cox's ban takes effect from September 16.