ASIC

Financial planning

How licensees can ensure they are cyber-secure

Two law firms have highlighted licensees’ responsibility to ensure they have sufficient cyber security measures in light of the enforcement action against Fortnum Private...

Financial planning

Director pleads guilty to unlicensed product advice

A former director has pleaded guilty to providing financial product advice without holding an AFSL which saw almost $2 million transferred to him....

Financial planning

Sequoia ramps up APL scrutiny with new committee

Danielle Press, a former ASIC commissioner, is to chair a new AFSL committee set up by Sequoia which seeks to improve governance practices and review its approved product...

Financial planning

Licensees seen as ‘first line of defence’ against product failure

ASIC believes advice licensees are the “first line of defence” when it comes to future product failures and is urging them to monitor their approved product lists. ...

Financial planning

Industry first as PY supervisor banned by ASIC

A professional year supervisor has been banned for five years after advice provided by his provisional relevant provider was deemed to be inappropriate, the first time th...

Financial planning

Former NSW adviser charged over dishonest conduct

A former financial adviser has been charged over dishonest conduct, having allegedly encouraged individuals to acquire shares in his firm’s robotic trading technology, re...

Financial planning

ASIC bans 2 former MWL Financial advisers

ASIC has banned another two former financial advisers of MWL Financial Services of making inappropriate advice to clients regarding the Shield Master fund, following two ...

Financial planning

Illegal advice lands Melbourne individual with permanent ban

ASIC has permanently banned a Melbourne individual who illegally provided financial advice which led investors to deposit $374,000 into his bank accounts....

Financial planning

ASIC sues Fortnum Private Wealth over alleged cyber security breach

ASIC is suing advice business Fortnum Private Wealth, a subsidiary of Australia’s largest licensee Entireti, for alleged cyber security failures which led to client data ...

Funds management

Funds under review in ASIC’s private credit probe

ASIC is conducting further surveillance on numerous private credit funds and their compliance measures as part of its broader review into the space....

Financial planning

Unregistered advisers result in infringement notices for 2 AFSLs

ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered....

Financial planning

ASIC’s ethics called into question by exam candidates

Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam ...

Financial planning

Former BBY chairman charged

Former executive chairman of failed stockbroker BBY, Glenn Rosewall, has been charged with aiding, abetting, counselling or procuring BBY’s dishonest conduct in relation ...

Financial planning

FSCP determinations ramp up in H1 25

Determinations by the FSCP since the start of 2025 are almost double the number in the same period of 2024, with non-concessional contribution cap errors and incorrect ad...

Financial planning

ASIC bans 2 advisers over inappropriate advice

ASIC has banned two advisers from the same advice firm for giving clients inappropriate superannuation advice that was not in their best interests. ...