News : ASIC

ASIC

ASIC to publish SMSF red flags for consumers

ASIC SMSF red flags

ASIC has committed to better informing and protecting consumers under its latest corporate plan and will publish information on potential SMSF red flags as part of its output for the current financial year.

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ASIC, Financial Planning

SMSF advice process key to better client outcomes

SMSF advice process

Risks, alternatives and detailed record-keeping are critical for advisers discussing the potential establishment of an SMSF with clients, an SMSF expert says.

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ASIC

ASIC bans director of illegal SMSF promoter

ASIC early release Superfunded

ASIC has banned the director of Superfunded for eight years after he promoted the illegal early access of superannuation funds.

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ASIC

ASIC to track end of grandfathered remuneration

ASIC grandfathered remuneration

ASIC will investigate the industry’s progress as it moves to end grandfathered remuneration arrangements for financial advisers by the 2021 deadline.

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ASIC, Financial Planning

ASIC bans SMSF adviser for dishonest loans

ASIC bans SMSF adviser

A former Victorian SMSF adviser has been banned by ASIC after it found he had borrowed money from clients’ accounts and had breached a range of financial services laws.

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ASIC

ASIC bans Sam Henderson for three-years

ASIC bans Sam Henderson

ASIC has banned former high profile Sydney financial adviser Sam Henderson for three years after he failed to act in the best interest of clients and provide them with appropriate advice.

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ASIC, Auditing

ASIC disqualifies auditors in crackdown

ASIC disqualifies auditors

ASIC has moved against 17 SMSF auditors, disqualifying some and placing additional conditions on others following concerns they were not meeting professional obligations.

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ASIC, Regulation

ASIC acts on licensees outside dispute scheme

financial services complaints scheme

ASIC has moved to ensure financial services providers are covered by the industry dispute resolution scheme, prompting 50 firms to sign up to AFCA.

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ASIC

Adviser handed decade-long prison term

ASIC disqualifies auditors

A former Adelaide-based adviser has been sentenced to 10 years’ imprisonment having stolen nearly $5 million of his clients’ money.

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ASIC, ATO, Compliance, Regulation

Evidence needed to back SMSF review calls

SMSF; review

Calls for a review of the SMSF sector need to be backed with evidence, the SMSF Association has stated, pointing out four reviews have yet to flag major concerns.

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