News : ASIC

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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ASIC, Financial Planning

Rising ASIC levy needs review

ASIC levy financial advisers

The FPA has urged the government to review the ASIC levy on planners, noting its increases are inconsistent and adding to the burden of providing advice.

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ASIC

ASIC action over false promotion

ASIC action SMSF promotion

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

La Trobe ASIC action

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

dishonest conduct SMSFs

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

Property developer SMSF fraud

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

accountant SMSF advice

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

adviser work check

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

SMSF adviser misappropriation

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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