Simon Turudia is banned from providing financial services for six years after being found to have arranged the unlawful early release of some A$1.7 million of benefits to 35 superannuation clients from August 2010 to November 2011.

AMP Financial Planning alerted the ASIC in January 2012 on Turudia's misconduct, at which time the company had already stripped him of his representative status.

"Those who seek to promote and benefit from unlawful early release of superannuation schemes have no place in the financial services industry," said Peter Kell, commissioner for ASIC, in a statement.

Turudia has the right to lodge an application with Administrative Appeals Tribunal for a review of ASIC's decision.