News : ASIC

ASIC, Compliance

ASIC clarifies litigation strategy

ASIC has detailed how its enforcement activities will operate, highlighting that while litigation was an option, other enforcement actions were also in use.

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ASIC

ASIC revokes authorisations of ‘doubly registered’ licensees

Fifty eight licensees who were authorised with another licensee have fallen foul of ASIC which has revoked their authorisations.

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ASIC, Regulation

Queensland adviser cops five-year ban

A financial adviser has been given a five-year ban by the Australian Securities and Investments Commission for breaching his legal requirements as an Australian financial services licensee authorised representative.

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Accounting, ASIC, Financial Planning

ASIC puts new conditions on SMSF Advisers Network

ASIC has imposed additional licence conditions on the NTAA-owned SMSF Advisers Network following concerns about compliance with the best interest duty.

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ASIC, Education, Superannuation

Super complaints, consumers given funding boost

The government will investigate the creation of an advocacy body for superannuation consumers, while providing funding to deal with unresolved complaints.

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ASIC, Financial Planning

Consumers misunderstand types of advice

Consumers have a poor understanding of the difference between general financial advice and personal financial advice, according to new research conducted for ASIC.

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ASIC, Commercial Property

ASIC wraps up last action against Westpoint

After 19 civil actions, ASIC has wrapped up its financial recovery efforts related to the failure of WA-based property group Westpoint in 2005.

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ASIC, Superannuation

SMSF adviser cops 10-year sentence over conduct

An adviser banned by ASIC has also been sentenced to 10 years’ imprisonment on eight counts of engaging in dishonest conduct.

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ASIC, Auditing

ASIC sanctions several SMSF auditors

ASIC has handed penalties to several SMSF auditors for failing to meet their professional requirements.

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ASIC

SMSF firm loses appeal for AFSL

The Administrative Appeals Tribunal has upheld ASIC’s decision to refuse a limited Australian financial services licence to a company that wanted to provide SMSF product advice.

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