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

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

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.

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

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