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ASIC
Financial planning
ASIC has indicated its disappointment that “little improvement” has been made on the reportable situation regime but financial advice breaches have declined over the year...
Financial planning
A global advisory firm has been ordered by the Federal Court to freeze its funds and assets for failing to lodge financial statements....
Financial planning
Appearing at Senate estimates, ASIC deputy chair Sarah Court has claimed the $7.2 million penalty issued to Dixon Advisory was made to send a “deterrent message” as the f...
People & Products
The former tax partner at PricewaterhouseCoopers who disclosed confidential information has been formally banned for eight years from providing financial services by ASIC...
Financial planning
The corporate regulator has taken ‘ASX Wolf’ Tyson Scholz to the Federal Court with a creditor’s petition after he failed to pay more than $450,000 owed to ASIC. ...
Financial planning
ASIC has updated its reportable situations regime to remove the need for licensees to submit breach notifications for certain misleading or deceptive conduct breaches....
Funds management
The government has opened a consultation to increase regulation for digital asset and crypto platforms via holding an AFSL, including for those who give advice or promote...
Financial planning
ASIC’s annual report has detailed its enforcement progress achieved during FY2022-23 and where it is focusing its financial advice work going forward....
Financial planning
The conviction rate for cases referred by ASIC to the Commonwealth Director of Public Prosecutions has fallen to half compared to 100 per cent in the year prior....
Superannuation
The corporate regulator’s crackdown on SMSF auditor misconduct continued in the third quarter, with ASIC taking action against 11 auditors who were all referred by the Au...
Financial planning
Court documents have revealed how former Melbourne adviser, Terence Nugara, was able to steal $10 million from his clients by promising returns as high as 98 per cent fro...
Financial planning
A Queensland financial adviser has detailed how the latest ASIC levy increase has caused him to double the ongoing advice fee for his clients to meet the cost....
Financial planning
The last three months have seen at least three high-profile court cases involving adviser misconduct, keeping the corporate regulator on its toes to wrap up a busy quarte...
Policy & Regulation
The Senate economics reference committee has shared data from the Commonwealth Director of Public Prosecutions on the number of prosecutions referred to it by ASIC in the...
Features
With the majority of retirement savings left unspent when most Australians die, advisers are playing a pivotal role in the growing landscape of retirement income products...
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MARKET INSIGHTS
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...