ASIC

Financial planning

Today is the final day for candidates who need to pass by 1 October to register for the last sittings of the financial adviser exam....

Policy & Regulation

Court finds RC case study firm acted ‘unconscionably’

The Federal Court has found Select AFSL, the subject of a Royal Commission case study, engaged in unconscionable conduct when selling insurance products and provided conf...

Policy & Regulation

ASIC commences proceeding against $1b ‘licensee for hire’

ASIC has commenced civil penalty proceedings in the Federal Court against ‘licensee for hire’ company Lanterne Fund Services, as its systems and processes were “wholly de...

Policy & Regulation

ASIC bans Melbourne-based adviser for three years

ASIC has banned Melbourne-based financial adviser David Noel Ruthenberg from providing financial services for three years....

Policy & Regulation

ASIC sues Mercer Financial Advice for fees for no service

ASIC has commenced civil penalty proceedings against Mercer Financial Advice for allegedly making false or misleading representations to its customers about fees charged ...

Financial planning

Which advisers have come under ASIC’s scrutiny?

In the final days of the financial year, Money Management reviews the number of charges made by ASIC against current and former financial advisers in the second half of 2...

Financial planning

ASIC seeks to freeze assets of company director

ASIC has sought to freeze the assets of Ashley Vincent Arandez who is alleged to have obtained $2.5 million from investors by suggesting their funds would be invested in ...

Financial planning

Adelaide adviser charged with company book falsification

An Adelaide financial adviser has been charged with falsifying company books following an ASIC investigation....

Superannuation

ASIC warns how to communicate performance test failures

ASIC has conducted a review into how superannuation funds communicated their performance test failures to members, revealing some may have risked misleading members....

Funds management

ASIC increases focus on misleading marketing

ASIC has highlighted examples of problematic marketing in managed funds and expects to make a series of regulatory outcomes in the next few months....

Financial planning

How many advisers passed the May exam?

There is only one sitting left for advisers yet to pass the exam as the Australian Securities and Investments Commission reveals the pass mark for May’s exam....

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 ...