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ASIC
Financial planning
A former AMP authorised representative has been convicted in the District Court of Western Australia for three counts of dishonest conduct....
Policy & Regulation
A former strategy manager at suspended stockbroking firm BBY has been charged with aiding and abetting dishonest conduct including the alleged transfers of $8.7 million i...
Financial planning
There is room for more flexibility in the financial advice exam, according to FAAA chief executive Sarah Abood, and the organisation is advocating for this to be improved...
Financial planning
NextGen Financial Group has formally entered into liquidation after losing a Federal Court case regarding an unpaid $270,000 Australian Financial Complaints Authority det...
Financial planning
Affected clients of Mercer Financial Advice paid over $14 million in inappropriate ongoing fees, as court documents show ASIC pushed for a penalty of $20 million....
Financial planning
Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations. ...
Financial planning
The regulator has updated on the status of a former Sydney financial adviser alleged to have faked client signatures to illegally obtain around $750,000. ...
Financial planning
The former director of a financial advice group has been disqualified from managing corporations after ASIC found he put investor funds at risk and made misleading and de...
Financial planning
Financial advisers receive the second-highest expenditure in ASIC’s financial services and wealth division, according to documents, ahead of investment managers and super...
Superannuation
ASIC has announced its enforcement priorities for 2024, which include two new points relating to the superannuation industry....
Financial planning
A Melbourne financial adviser banned for 10 years for breaching COVID-19 lockdown rules to attend the AFL Grand Final in Perth has seen his banning reduced in an appeal....
Financial planning
The corporate regulator has urged organisations to implement greater cyber security management, with an “alarming” number of firms not managing third-party or supply chai...
Superannuation
The super trustee has received three infringement notices for allegedly misleading statements on its social media regarding the performance of one of its investment optio...
Financial planning
The ASIC funding levy for 2022-23 has been reduced from its original estimates, after criticism that the increase to $3,217 per adviser was too high....
Financial planning
A “priority hotline” between professional associations and ASIC, as suggested by the Financial Advice Association of Australia, would damage the regulator’s independence,...
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MARKET INSIGHTS
Podcast
The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...