FSCP

Financial planning

Why don’t licensees fall under FSCP’s spotlight?

While the Financial Services and Credit Panel can take action on individual advisers’ misconduct, a compliance professional unpacks why the panel does not always subject ...

Financial planning

FSCP by numbers: What action is the panel taking?

Money Management explores which actions the Financial Services and Credit Panel is taking when it considers the outcomes of cases. ...

Financial planning

FSCP by numbers: Which issues are occurring most?

There have been 16 outcomes issued by the Financial Services and Credit Panel since its launch in 2023, which issues or breaches are frequently occurring?...

Financial planning

FSCP issues latest outcome regarding SOAs

The Financial Services and Credit Panel has made its latest decision on a case regarding Statements of Advice and rolling over superannuation funds....

Financial planning

Inappropriate advice about super switching leads to latest FSCP outcome

Providing inappropriate advice and receiving soft benefits from a telemarketing operation about superannuation switching are among breaches that have led to the Financial...

Financial planning

Allaying industry’s breach reporting fears

There needs to be a “mindset change” around breach reporting by licensees and advisers as, rather than be pleased, ASIC will more likely be suspicious if a firm has no br...

Financial planning

Scaled advice model leads to second FSCP prohibition order

The FSCP has issued a registration prohibition order against a financial adviser until 2025 for misleading a client through a scaled advice model that excluded an SMSF in...

Financial planning

FSCP cancels insolvent adviser’s registration

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...

Financial planning

FSCP hands down first ‘written reprimand’ around advice scoping

Tackling issues around inappropriate scoping of advice, the Financial Services and Credit Panel has announced its first ‘written reprimand’. ...

Financial planning

FSCP puts SOA mistakes in the spotlight

A relevant provider that used an inaccurate SOA to induce a client to switch superannuation funds is the subject of the Financial Services and Credit Panel’s latest compl...

Financial planning

FSCP publishes first adviser misconduct verdict

Single disciplinary body the Financial Services and Credit Panel has published its first outcome, relating to an adviser who impersonated a client on the phone....

Policy & Regulation

FSCP fully operational and will address ‘less serious’ misconduct: ASIC

Leah Sciacca, ASIC senior executive for financial advisers, has outlined some of the activities of the Financial Services and Credit Panel, which commenced operations las...

Financial planning

Drilling down into the SDB

With the Single Disciplinary Body in operation but yet to convene a panel, Michelle Huckel, Stockbrokers and Investment Advisers Association policy manager, has explained...