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ASIC
Financial planning
The Federal Court has ordered MLC Limited pay a $10 million penalty for misleading customers and failing to pay promised benefits....
Policy & Regulation
Leah Sciacca, ASIC senior executive for financial advisers, has outlined some of the activities of the Financial Services and Credit Panel, which commenced operations las...
Financial planning
ASIC’s senior executive leader, Leah Sciacca, has provided an update on the status of financial adviser registration with the regulator since it was delayed in November 2...
Funds management
ASIC is unlikely to slow its pace on greenwashing enforcement, according to deputy chair Karen Chester, or it will run the risk of making Australia a target for misconduc...
Financial planning
Athan Papoulias, former contractor to and promoter of Courtenay House investments, has been sentenced to two years’ imprisonment for his role in the Ponzi scheme....
Funds management
ASIC has outlined the most common mistakes made by funds when creating their target market determinations as well as how many products have been withdrawn from the market...
Financial planning
The first person to be convicted of a ‘pump and dump’ scheme has been sentenced and fined after pleading guilty to charges of share manipulation and illegal dissemination...
Funds management
Wealth manager and stockbroker Ord Minnett has paid $888k to comply with an infringement notice from the Markets Disciplinary Panel regarding a buy-back....
Financial planning
Although finfluencers tend to “swim outside the safety flags”, Insignia chief executive Renato Mota believes they signal an unmet demand from a younger generation seekin...
Superannuation
Future Super has received an infringement notice from ASIC over alleged greenwashing, this time related to a social media post by the fund, following earlier action again...
Financial planning
ASIC has banned Terence Rio Nugara, director of Skynet Financial Services, for obtaining $1.6 million from misleading clients and enabling the early release of superannua...
Financial planning
The Federal Court has ordered Michael Dunjey’s Ascent Investment and Coaching Pty Ltd and its unregistered managed investment scheme, which owe $149 million to clients, b...
Financial planning
A former Sunshine Coast adviser has been sentenced after pleading guilty to nine counts of fraud totalling $625k by withdrawing funds without authorisation from his clien...
Financial planning
A Sydney financial planner has been sentenced to a maximum jail term of nine years after pleading guilty to 12 counts of dishonestly obtaining financial advantage by dece...
Financial planning
Hundreds of consumers with Dixon Advisory complaints are still waiting for updates months later as AFCA awaits the introduction of the Compensation Scheme of Last Resort ...
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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...