Australia’s corporate regulator has banned financial adviser Munther El‑Alami from the industry for eight years after finding he engaged in misleading or deceptive conduct in relation to life insurance applications lodged for clients.
ASIC said the prohibition prevents Mr El‑Alami from providing any financial services, controlling an entity that carries on a financial services business, or performing any function involved in the carrying on of such a business.
According to the regulator, Mr El‑Alami failed to comply with financial services law by making misleading or false representations when submitting life insurance policy applications on behalf of clients. ASIC also said it had reason to believe he is not a fit and proper person, is not competent to participate in the Australian financial services industry, and is likely to contravene a financial services law.
The ban took effect on 17 September 2025 and has been noted on ASIC’s banned and disqualified register.
Mr El‑Alami may seek a review of the decision by the Administrative Review Tribunal.
ASIC said Mr El‑Alami was an authorised representative of Alternative media Pty Ltd from 14 September 2022 until 26 June 2023. During the period of misconduct, he was employed as a life insurance specialist by Advizer Pty Ltd.
