News : ASIC

ASIC

Squirrel penalised for false investment claims

Squirrel SMSF investment

Squirrel Superannuation Services has been ordered to pay a penalty after ASIC found it falsely marketed investment returns for residential property held via SMSFs.

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ASIC

Ex-adviser breaches ASIC ban order

smsf adviser ban order

A former Queensland adviser has breached a seven-year ASIC ban, while another has had a conviction for dishonest conduct overturned.

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ASIC, Education

Exam pass rate stays low

ASIC adviser exam

The pass rate for the penultimate adviser exam has remained low, with many of those taking the exam resitting it for at least a second time.

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ASIC, Financial Planning

ASIC outlines adviser warning conditions

ASIC adviser warnings

ASIC has outlined when it will issue a warning to a financial adviser for poor conduct and noted these will also be passed on to their licensee.

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ASIC

ASIC granted orders against developer

ASIC property developer

ASIC has moved to freeze the assets of a property developer who while unlicensed advised clients to roll super into an SMSF to invest in property developments.

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ASIC

Adviser levies remain static

ASIC adviser levy

ASIC has released its cost recovery levies, with those for the advice sector remaining static under a freeze introduced last year.

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ASIC, Auditing

ASIC cancels auditor registrations

ASIC SMSF auditor registration

ASIC has cancelled the registration of SMSF auditors who have continued to fail in their obligations to return annual statements.

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ASIC

Licensee of Mayfair representatives shut down

mayfair licensee

ASIC has cancelled the licence of a group that authorised Mayfair 101 representatives and banned its director for eight years.

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ASIC, Financial Planning

ASIC not seeking compliance perfection

ASIC compliance perfection

ASIC has recognised the high level of complexity in financial services legislation and is not expecting advisers to meet those standards every time.

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ASIC

ASIC suspends Dixon Advisory licence

ASIC Dixon Advisory

ASIC has suspended the operating licence of Dixon Advisory from early May as it continues to progress its civil proceedings against the group.

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