ASIC cancels 117 SMSF auditors’ registration
The Australian Securities and Investments Commission (ASIC) has cancelled the registration of 117 self-managed superannuation fund (SMSF) auditors for failing to lodge their annual statements.
In November last year, ASIC sent a warning to 404 SMSF auditors to lodge their outstanding annual statements.
ASIC informed the auditors that should they fail to lodge their statements and pay the required fees, their registrations would be cancelled. Of the 404 auditors, 287 lodged their annual statements.
Recommended for you
Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
ASIC now has a 1:1 ratio when it comes to court success in the enforcement of crypto activities and more action is expected as Treasury seeks to introduce a regulatory framework.
A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.
The release of ALRC’s final report into financial services legislation has highlighted financial advice as a “significant” focus as it seeks to reduce costs and help advisers understand their obligations, alongside the Quality of Advice Review.