News : ASIC

ASIC

ASIC action over false promotion

January 11, 2021

The Australian Securities and Investments Commission has taken legal action against two firms over the promotion of SMSFs to invest in property, challenging claims around returns and the legality of the advice.

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ASIC

La Trobe rejects ASIC advertising action

December 21, 2020

Jason Spits

ASIC has commenced court action regarding advertising by La Trobe Financial Asset Management, with the manager rejecting allegations it was misleading.

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ASIC

Former director charged with dishonest conduct

December 7, 2020

Tharshini Ashokan

A former company director has been charged with dishonest conduct relating to the mismanagement of clients’ SMSFs.

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ASIC, Superannuation

Property developer sentenced for SMSF fraud

November 26, 2020

Jason Spits

A former Queensland property developer has been sentenced to five years’ imprisonment for defrauding SMSF investors.

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ASIC

Court action over SMSF advice EU

November 23, 2020

Jason Spits

ASIC has returned to court to force an accountant to comply with the terms of an enforceable undertaking relating to a banning for SMSF advice.

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ASIC, Financial Planning

Protocol will enable five-year work check

November 19, 2020

Jason Spits

A draft reference-checking protocol includes the ability for licensees to check five years of an adviser’s work and audit history before deciding to employ them.

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ASIC

Adviser pleads guilty to $3m misappropriation

November 17, 2020

Jason Spits

A Sydney-based SMSF adviser has pleaded guilty to offences related to the misappropriation of $2.9 million of client funds.

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ASIC, Financial Planning

ASIC begins limited advice consultation

November 17, 2020

Tharshini Ashokan

ASIC has commenced consultation on the provision of affordable and limited financial advice.

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ASIC, Financial Planning

SMSFA welcomes ASIC limited advice review

November 17, 2020

Tharshini Ashokan

The SMSF Association has welcomed the release of ASIC’s consultation paper on the provision of affordable and limited financial advice.

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ASIC

AAT knocks back SMSF adviser appeal

November 10, 2020

Jason Spits

A banned SMSF adviser has failed to have the terms of his ban eased, with the AAT stating such a move would not act as a deterrent nor promote confidence in financial advice.

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