News : ASIC

ASIC

Mayfair director banned for 20 years

Mayfair Mawhinney banned

The Federal Court has banned Mayfair 101 director James Mawhinney from the financial services industry for 20 years.

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ASIC, Financial Planning

ASIC extends COVID-19 advice relief

ASIC COVID advice relief

Financial advisers will be able to use records of advice for COVID-19-related matters with existing clients for another six months following an extension by ASIC.

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ASIC, Superannuation

Two unlicensed operations shut down

unlicensed financial services

Federal Court orders to have two unlicensed financial services companies wound up have been obtained by ASIC.

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ASIC, Financial Planning

ASIC releases new ongoing fee rules

ASIC ongoing fee rules

ASIC has released new rules around what consent advisers need to secure when using ongoing fee arrangements with clients.

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ASIC

Court finds against Mayfair advertising

mayfair advertising

The Federal Court has ruled Mayfair 101 Group made false, misleading and deceptive statements in regard to the marketing campaign for its debenture products.

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ASIC, Compliance

SMSF accountant ordered to comply with EU

smsf accountant enforceable undertaking

A Queensland accountant has been ordered by the Federal Court to comply with an ASIC enforceable undertaking and tell clients she is unable to provide SMSF advice.

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ASIC, Financial Planning

Industry bodies slam ASIC levy hike

ASIC levy increase

Australia’s peak financial services industry bodies have condemned the substantial increase in the levy charged to financial advisers and their licensees.

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ASIC

Adviser banned for dishonest conduct

Adviser banned dishonest conduct

ASIC has banned a former Sydney financial adviser , who was unable to be present at trail, for dishonest conduct involving client funds

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ASIC

Ex-accountant wins partial appeal

accountant partial appeal

A former accountant who recommended the use of SMSFs has successfully appealed against three charges of obtaining financial advantage by deception.

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ASIC, Investments

Investment manager suspended from operations

Investment manager suspended

ASIC has suspended a niche Queensland investment manager from any action after it repeatedly failed to lodge accounts and reports on time.

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