News : ASIC

ASIC, Compliance, financial advice, Financial Planning

Adviser convicted for dishonesty

Financial adviser, superannuation, dishonest conduct, David Mario Valvo, Downing Centre District Court, Your Financial Freedom, ASIC, Wealthtrac

A former adviser who accessed clients’ superannuation accounts using false documents has been convicted of dishonest conduct and forced to repay his clients.

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ASIC, financial advice, Financial Planning, SMSF

Poor SMSF advice leads to $11m penalty

A licensee that provided cookie cutter advice about property investments via SMSFs has received a multi-million dollar fine.

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ASIC, financial advice, Financial Planning

Three licensees cop enforcement action

ASIC has taken punitive action against three Australian financial services licence holders for allowing unregistered authorised representatives to provide personal financial advice.

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ASIC

Regulators demand action from ASX

Australian Securities Exchange, ASX, Joe Longo, Reserve Bank of Australia, RBA, Michele Bullock, Australian Securities and Investments Commission, ASIC,

The RBA and ASIC have publicly reprimanded the ASX over a critical system failure last year, calling for more action to prevent a reoccurrence in the future.

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ASIC, Investments, SMSF

ASIC seeks closure of rollover scheme

ASIC has sought court orders to wind up a managed investment scheme that used cold calling and superannuation rollovers to get clients to invest.

ASIC has sought court orders to wind up a managed investment scheme that used cold calling and superannuation rollovers to get clients to invest.

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ASIC, ATO, Auditing

ASIC sanctions 17 SMSF auditors

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

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ASIC

Breach reporting relief feedback closing

Australian Securities and Investments Commission, ASIC, SMSF Association,

Advice licensees have limited time to respond to an ASIC proposal that will remove the need to report low-level breaches of misleading conduct provisions.

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ASIC

Super rollover firms have assets frozen

Two firms linked to a company that used telemarketers to promote rollovers to SMSFs have had their assets frozen as ASIC investigates their actions.

Two firms linked to a company that used telemarketers to promote rollovers to SMSFs have had their assets frozen as ASIC investigates their actions.

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ART, ASIC, ATO, Auditing, Regulation

Adviser and auditor banned

Financial Services and Credit Panel, FSCP, SMSF auditor, ASIC, Administrative Review Tribunal, ART, Glenn Paul Meilak, Terence Murphy

Two separate actions have led to an SMSF adviser and a qualified auditor being banned from practising for failing to maintain the standards expected of them.

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ASIC, ATO, Regulation

Financial regulation initiative launched

The government has unveiled a grid aimed at improving the regulation processes involving the Australian financial sector.

The government has unveiled a grid aimed at improving the regulation processes involving the Australian financial sector.

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