News : ASIC

ASIC

AAT knocks back SMSF adviser appeal

AAT SMSF adviser appeal

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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ASIC

Developer guilty of defrauding SMSF investors

property developer SMSF fraud

A former Queensland property developer has been found guilty of six counts of fraud involving amounts obtained from SMSF investors totalling $345,000.

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ASIC

ASIC moves against unlicensed SMSF advice

unlicensed SMSF firms

ASIC has taken court action to prevent the provision of unlicensed SMSF advice, which it alleges has led to the loss of investor funds.

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ASIC

ASIC chiefs vacate roles over expenses

ASIC Shipton Crennan expenses

The two most senior leaders at ASIC have vacated their positions after they were found to have received remuneration in excess of allowable limits.

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ASIC, Financial Planning

Property spruiking diminishes

SMSFs property spruiking

Unlicensed advice remains a concern for ASIC, which has asked advisers to report any instances of such behaviour they might come across.

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ASIC, Financial Planning

ASIC extends early access advice provisions

early access advice

Measures to ease the provision of advice related to early release of superannuation have been extended by six months due to ongoing COVID-19 uncertainty.

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ASIC, Auditing

ASIC adds conditions to auditors registrations

ASIC auditors conditions

ASIC has taken disciplinary action against two SMSF auditors, adding conditions to their registration after independence breaches and audit quality deficiencies were uncovered.

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ASIC, Auditing

ASIC reinstates disqualified auditor

ASIC disqualified auditor

ASIC has reinstated a disqualified SMSF auditor following a decision by the Administrative Appeals Tribunal, but has already made moves to appeal the ruling.

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ASIC

ASIC begins Dixon Advisory civil proceedings

ASIC Dixon Advisory

ASIC has started civil penalty action again investment, retirement and SMSF advisory firm Dixon Advisory over claims of conflict of interest and best interest failures.

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ASIC

Former Queensland adviser charged with fraud

SMSF adviser fraud

A former financial adviser has been charged with fraud, including the unauthorised withdrawal of over half a million dollars from SMSF clients’ bank accounts, following an ASIC investigation.

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