News : ASIC

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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ASIC, Financial Planning

Henderson pleads guilty to dishonest conduct

Sam Henderson guilty

Former financial adviser Sam Henderson has pleaded guilty to charges related to false claims he held a Master of Commerce qualification.

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ASIC, Financial Planning

ASIC bans adviser over risky advice

ASIC banned Adelaide adviser

An Adelaide-based adviser has been banned for failing to act in his clients’ best interests, including giving advice that ignored the SMSF investment strategy.

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ASIC, Auditing

ASIC disqualifies 36 SMSF auditors

ASIC disqualification SMSF auditors

A failure to maintain SMSF audit experience has resulted in disqualification for 36 auditors and conditions being imposed on a further six practitioners.

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ASIC

SMSF proprietor hit with injunctions

ASIC SMSF injunctions

ASIC has obtained interim injunctions against PW Kitt Co Pty Ltd and its director in order to investigate the acquisition of almost $7 million in SMSF investor funds.

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ASIC, FASEA, Financial Planning

Individual adviser oversight still unclear

advisers oversight

ASIC is still unsure whether it will have oversight over individual advisers from 2022, stating its authority only covered licensees under current legislation.

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ASIC

Fact sheet was best data to hand

SMSf fact sheet

ASIC has defended its use of numbers that overinflated the cost of running an SMSF, claiming they were reputable and the best available at the time.

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ASIC

SMSF adviser jailed for six years

SMSF adviser jailed

A former SMSF adviser has been sentenced to six years’ jail for the misappropriation of client funds.

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ASIC, Superannuation

ASIC faces another fact sheet grilling

ASIC fact sheet

ASIC’s first attempt to price the cost of running an SMSF has been raised as an issue of concern ahead of the regulator’s appearance before a parliamentary committee tomorrow.

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