ASIC

Policy & Regulation

Banned SMSF adviser convicted for breaching ASIC order

Former Queensland financial adviser, Lawrence Toledo, has been convicted and fined $1,500 after pleading guilty to three charges of breaching an Australian Securities and...

Policy & Regulation

Firm fined $1.7m for charging deceased estates

A former subsidiary of Commonwealth Bank has been penalised $1.7 million for failing to update defective disclosure statements, the first conviction of its kind....

Funds management

The questions ASIC hope will stop greenwashing

There are nine questions that fund managers need to ask themselves when launching a fund in order to prevent greenwashing, according to ASIC....

Policy & Regulation

ASIC makes second Spaceship Capital ban

Spaceship Capital chairman Paul Dortkamp has been banned by ASIC for a “fundamental oversight” related to his responsibilities, less than six months after its former CEO ...

Policy & Regulation

ASIC makes first ‘pump and dump’ social media conviction

The corporate regulator has made its first conviction of an individual for using social media to co-ordinate a ‘pump and dump’ scheme of listed stocks. ...

Policy & Regulation

How much will advisers pay in 2021/22 levy?

The Australian Securities and Investments Commission has released its latest cost recovery implementation statement for 2021/22, providing an estimated levy for financial...

Policy & Regulation

Former van Eyk Research CEO pleads guilty to charges

Mark Thomas, former chief executive of van Eyk Research, has pleaded guilty to charges of dishonestly using his position to gain advantage for himself....

Policy & Regulation

ASIC sues ANZ over misleading credit card balances

ASIC has commenced civil penalty proceedings against big four bank ANZ for allegedly misleading customers about the available funds and balances in their credit card acco...

Policy & Regulation

ASIC cancels registrations of 10 SMSF auditors

ASIC has cancelled the registration of 10 auditors of self-managed superannuation funds who failed to lodge their annual statements....

Financial planning

Second week of triple-digit adviser losses

The financial advice profession has seen the second week of triple-digit adviser losses, with the industry shrinking by 129 to 16,783 advisers, according to Wealth Data....

Policy & Regulation

ASIC cancels AFSL of Mayfair 101 licensee

ASIC has cancelled the Australian financial services licence of Perth-based Quattro Capital, the licensee of authorised representatives who were part of Mayfair 101....

People & Products

Former regulator Shipton joins Superhero board

Former ASIC chair, James Shipton, has joined share trading and superannuation platform Superhero as a non-executive director....

Financial planning

Adviser exam unlikely to see improvements

ASIC chair, Joe Longo, has told advisers there is little the corporate regulator can do to improve the financial adviser exam, despite negative feedback from candidates....

Financial planning

Timeshare industry is on notice: CHOICE

Consumer group CHOICE says the timeshare industry is now on notice following the Federal Court’s first-ever decision against a timeshare provider for failing to ensure fi...

Policy & Regulation

Former NSW adviser sentenced to one-year home detention

Ezzat-Daniel Nesseim has been sentenced to a three-year intensive correctional order for engaging in dishonest conduct and providing falsified documents to ASIC....