Articles by Penny Pryor

ASIC, Compliance, Regulation

Mayfair 101 director ruling reached

The Federal Court has ruled against Mayfair 101 Group director James Mawhinney in several allegations made by ASIC with regard to the organisation’s conduct.

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ETFs, Investments

ETF market continues to boom

Global X, exchange-traded fund, ETF, growth, funds under management, ETF market, Australian equity ETF, Crypto ETF

The latest report into the domestic ETF market has confirmed it now accounts for $280.5 billion in funds under management after sustained growth.

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ASIC, Compliance, financial advice, Financial Planning

Advisers with Shield links banned

ASIC, banned, Matthew Simon Bradley, Isaac Jacob McQueen, Shield Master Trust, MWL Financial Services Pty Ltd, Keystone Group, Financial Services Group Australia, Graham Holmes

ASIC has banned two more practitioners who provided advice encouraging superannuants to invest in the Shield Master Trust.

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financial advice, Financial Planning

Minor CSLR reduction disappointing

CSLR, levy estimate, Compensation Scheme of Last Resort, SMSF Association, Financial Advice Association Australia, $20 million cap, Peter Burgess, funding model, review, Sarah Abood, Shield, First Guardian

The minor reduction in costs borne by advisers under the Compensation Scheme of Last Resort will not help the advice sector, which is waiting for changes to the funding model.

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ASIC, financial advice, SMSFA, Superannuation

SMSFA backs ASIC super warning

The SMSF Association has supported ASIC’s warning for people to be on high alert for cold callers encouraging them to switch their super.

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Estate Planning, financial advice

New digital estate planning service launches

fintech, Yodal, tele-estate planning, concierge service, financial advice, estate plan, digital estate planning, Steve Judd, Ian Tindale

Fintech Yodal’s new tele-estate planning concierge will help advisers deliver estate planning services at scale.

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Education, financial advice

Intensive study offered for lagging advisers

Kaplan Professional, financial adviser, education requirements, experience pathway, Brian Knight, deadline

A financial services education provider has created an intensive study program for financial advisers to help them meet the 31 December 2025 deadline.

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Contributions

Contribution splits apply to carry-forward cap

SMSF, self managed superannuation fund, self managed super, carry-forward unused concessional contributions, contribution splitting, Colonial First State, concessional contributions cap, Linda Bruce, Craig Day

Advisers using contribution splitting strategies should be clear as to which cap the legislation refers and can apply it prospectively if they wish.

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ASIC, fraud, Investments

ASIC cautions licensees on share fraud

ASIC, guidance, Australian financial services licensees, Information Sheet 237, INFO 237, share sale fraud, Simone Constant, due diligence

The corporate regulator is asking licensees to be vigilant, given share sale fraud has jumped sevenfold in recent years.

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