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ASIC
Financial planning
A financial adviser has been banned from giving personal advice to retail clients until 2025 after the FSCP found there is a “real risk of harm” to the public’s confidenc...
Funds management
International research firm Morningstar has fallen foul of ASIC’s greenwashing rules after allegedly making investments into nuclear weapons despite its ESG policy....
Superannuation
Super trustee OnePath Custodians has been ordered to pay $5 million for fees for no service misconduct, less than six months after being fined $1.4 million by APRA....
Financial planning
A former AMP authorised representative has been convicted in the District Court of Western Australia for three counts of dishonest conduct....
Policy & Regulation
A former strategy manager at suspended stockbroking firm BBY has been charged with aiding and abetting dishonest conduct including the alleged transfers of $8.7 million i...
Financial planning
There is room for more flexibility in the financial advice exam, according to FAAA chief executive Sarah Abood, and the organisation is advocating for this to be improved...
Financial planning
NextGen Financial Group has formally entered into liquidation after losing a Federal Court case regarding an unpaid $270,000 Australian Financial Complaints Authority det...
Financial planning
Affected clients of Mercer Financial Advice paid over $14 million in inappropriate ongoing fees, as court documents show ASIC pushed for a penalty of $20 million....
Financial planning
Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations. ...
Financial planning
The regulator has updated on the status of a former Sydney financial adviser alleged to have faked client signatures to illegally obtain around $750,000. ...
Financial planning
The former director of a financial advice group has been disqualified from managing corporations after ASIC found he put investor funds at risk and made misleading and de...
Financial planning
Financial advisers receive the second-highest expenditure in ASIC’s financial services and wealth division, according to documents, ahead of investment managers and super...
Superannuation
ASIC has announced its enforcement priorities for 2024, which include two new points relating to the superannuation industry....
Financial planning
A Melbourne financial adviser banned for 10 years for breaching COVID-19 lockdown rules to attend the AFL Grand Final in Perth has seen his banning reduced in an appeal....
Financial planning
The corporate regulator has urged organisations to implement greater cyber security management, with an “alarming” number of firms not managing third-party or supply chai...
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Podcast
My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...
Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...
How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...