News : ASIC

ASIC extends COVID-19 advice relief

April 15, 2021

Financial advisers will be able to use records of advice for COVID-19-related matters with existing clients for another six months following an extension by ASIC.

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ASIC, Superannuation

Two unlicensed operations shut down

April 13, 2021

Darin Tyson-Chan

Federal Court orders to have two unlicensed financial services companies wound up have been obtained by ASIC.

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ASIC, Financial Planning

ASIC releases new ongoing fee rules

March 25, 2021

Jason Spits

ASIC has released new rules around what consent advisers need to secure when using ongoing fee arrangements with clients.

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ASIC

Court finds against Mayfair advertising

March 23, 2021

Darin Tyson-Chan

The Federal Court has ruled Mayfair 101 Group made false, misleading and deceptive statements in regard to the marketing campaign for its debenture products.

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ASIC, Compliance

SMSF accountant ordered to comply with EU

March 15, 2021

Jason Spits

A Queensland accountant has been ordered by the Federal Court to comply with an ASIC enforceable undertaking and tell clients she is unable to provide SMSF advice.

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ASIC, Financial Planning

Industry bodies slam ASIC levy hike

March 8, 2021

Tharshini Ashokan

Australia’s peak financial services industry bodies have condemned the substantial increase in the levy charged to financial advisers and their licensees.

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ASIC

Adviser banned for dishonest conduct

February 15, 2021

Jason Spits

ASIC has banned a former Sydney financial adviser , who was unable to be present at trail, for dishonest conduct involving client funds

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ASIC

Ex-accountant wins partial appeal

February 11, 2021

Jason Spits

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

February 9, 2021

Jason Spits

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

February 3, 2021

Tharshini Ashokan

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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