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ASIC
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...
Funds management
ASIC has handed over a $53,280 infringement notice to fintech company Bobbob over concerns of potentially misleading some 700 customers to invest $1.6 million in its cryp...
Financial planning
A Melbourne financial adviser permanently banned by ASIC earlier this year is facing a maximum penalty of 20 years’ jail for obtaining financial advantage by deception, a...
Financial planning
ASIC has warned licensees they could face regulatory action if they fail to remediate customers in a timely manner as it reviews licensees' handling of RG 277 in its firs...
People & Products
A former ASIC veteran who spent 25 years at the corporate regulator has been appointed to a senior chair role by the Albanese government....
Funds management
National Australia Bank has been ordered to pay $2.1 million by the Federal Court, the maximum penalty possible for a single breach of unconscionable conduct....
Financial planning
ASIC has shared how many Australian financial services licences were granted and rejected by the corporate regulator in the 2022-2023 financial year....
Financial planning
With just days until the previous scheduled date of 1 October, ASIC has once again delayed the date that relevant providers must be registered....
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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...