ASIC

Policy & Regulation

EC Audit and its director, Robert Evett, will be the first ever in Australia to face criminal charges for failure to comply with auditing standards....

Financial planning

Sydney planner permanently banned

Gavin Fineff sourced over $5 million form clients and individuals as loans and, without their knowledge, gambled and lost a significant amount of those funds, according t...

Financial planning

ASIC levy final straw for accountants providing advice

Accountants with a limited authority have constituted one of the largest groups of those who might choose to opt out of being a financial adviser in the future and hand b...

Financial planning

Adviser exodus mainly those with less experience: FASEA

Over 60% of advisers who exited the Financial Adviser Registered during July 2019 and December 2020 had less than 10 years of experience, according to the Financial Advis...

Funds management

Retail investors fail to understand FX

It is the duty of retail investors to educate themselves on the costs and risks of trading in foreign exchange markets, according to Dale Gillham, as a trading company is...

Financial planning

Don’t look for FASEA exam ‘loopholes’: AFA

Advisers who want to continue in the industry should do everything they can to pass the exam this year as it is not clear whether they will be able to sit an exam next ye...

Financial planning

Over 100 advisers leave the industry in a single week

This week 103 advisers left the industry during a period which saw a lot of adviser movement thanks to IOOF finalising its absorption of MLC Wealth advisers. ...

Financial planning

Ex-adviser banned for three years

Brisbane-based Nathan Smith failed to provide advice that was in the best interest of clients....

Financial planning

ASIC levy increase due to declining adviser numbers

The cost of recovering additional funding by the Government along with the decrease in the number of advisers year-on-year has led to the corporate regulator’s licensee l...

Financial planning

Accessible affordable advice priority for new ASIC chair

The challenge for the corporate regulator and policy makers is to figure out a way to make the advice regime more digestible, practical, and affordable for consumers....

Financial planning

Most advisers to declare 'not independent'

Only 2% of advisers and advice firms can label themselves as “independent’, meaning most will be subject to the new Financial Services Guides disclosure obligations....

Policy & Regulation

$20m penalty for Forex CT

Company director Shlomo Yoshai has also been fined $400,000 and is disqualified from managing companies for eight years, after creating a trading floor culture compared t...

Financial planning

OTC manager banned for 10 years

Union Standard director and former responsible manager, John Carlton Martin, has been banned from providing financial services for 10 years from providing financial servi...

Policy & Regulation

ASIC targets actions of activist short sellers

Avoiding emotive language and releasing short reports outside of normal trading hours are among recommendations from the Australian Securities and Investments Commission ...