ASIC

Policy & Regulation

ASIC cancels Direct My Wealth AFSL and ACL

Both were cancelled for failure to lodge its 2020 audited financial accounts and annual compliance certificate in time....

Financial planning

ASIC cancels AFSL

Robert Bayntun Starky has failed to pay an Australian Financial Complaints Authority (AFCA) determination and failed to lodge 2020 audited financial accounts....

Financial planning

Ex-MD of fund manager in liquidation charged

Former director of Global Merces Funds Management, Holly Grofski, has been charged with three counts of dishonest conduct, one count of providing false information and on...

Financial planning

Former CEO of van Eyk Research charged

Former van Eyk Research chief executive, Mark Peter Thomas, has been charged with four counts of dishonestly using his position as a director or officer of a company with...

Financial planning

ASIC issues civil penalty action against Equiti FS

The corporate regulator has commenced civil penalty proceedings against the company for breaching the prohibition against conflicted remuneration and failing to provide a...

Financial planning

Call to use Single Disciplinary Body to reduce, not increase costs

The Government and Treasury should seek to avoid repeating the FASEA mistakes by using the establishment of a Single Disciplinary Body to reduce regulatory costs. ...

Financial planning

ASIC confirms monitoring of super advice

The Australian Securities and Investments Commission has confirmed it is closely monitoring the delivery of financial advice by superannuation funds against the terms of ...

Financial planning

Advisers wary of property syndicate DDO referrals

Some financial advisers have expressed concern at being drawn into giving advice to inexperienced to clients on property syndicates because of the impact of Design and Di...

Financial planning

Theta AM ex-MD banned by ASIC

Robert Patrick Marie has been banned by the corporate regulator for four years from providing any financial services....

Editorial

Successive Govts, not advisers, to blame for advice policy shambles

Thousands of low-balance, high maintenance clients are being orphaned in the wash-up of what is emerging as significant failure by successive governments to understand th...

Funds management

ASIC commences proceedings against PE Capital FM

The corporate regulator has alleged PE Capital Funds Management had operated a number of unregistered managed investment schemes without an Australian financial services ...

Policy & Regulation

Treasurer’s office insists ASIC will have more, not less staff

Treasurer Josh Frydenberg’s office is arguing that the Australian Securities and Investments Commission has not missed out on staffing resources in the Budget. ...

Superannuation

SMSF scammers posing as financial advisers

The scammers are promising high returns of 8% to 20% per annum if the investors moved their super balance to a new self-managed superannuation fund. ...

Policy & Regulation

Budget points to fewer staff within ASIC

While the other regulators grew their staff numbers, the Budget papers point to a net loss for ASIC. ...

Financial planning

FPA welcomes cap on ASIC spending

The Financial Planning Association has pointed to the winding up of FASEA and a cap on Australian Securities and Investments Commission spending as being positives from t...