ASIC has taken court action to prevent the provision of unlicensed SMSF advice, which it alleges has led to the loss of investor funds.

The two most senior leaders at ASIC have vacated their positions after they were found to have received remuneration in excess of allowable limits.

ASIC has started civil penalty action again investment, retirement and SMSF advisory firm Dixon Advisory over claims of conflict of interest and best interest failures.

A former financial adviser has been charged with fraud, including the unauthorised withdrawal of over half a million dollars from SMSF clients’ bank accounts, following an ASIC investigation.