News : ASIC

Accounting, ASIC

ASIC rejects return of accountants’ exemption

ASIC accountants’ exemption

ASIC has not backed the return of the accountants’ exemption, noting the quality of advice from accountants is not higher than that of financial planners.

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ASIC, Auditing

ASIC acts on SMSF auditor misconduct

ASIC SMSF auditors misconduct

ASIC has disqualified two SMSF auditors and added conditions to the registration of another following referrals from the ATO.

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ASIC, Superannuation

Illegal early-access promoter jailed

Illegal early access superannuation

The operator of a scheme providing illegal early access to superannuation benefits has been given a three-year jail sentence.

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ASIC, Financial Planning

Lime FS shuts robo-advice arms

Lime FS robo-advice

The robo-advice arms of Lime FS Pty Ltd have been voluntarily closed amid compliance issues raised by the corporate regulator.

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ASIC, Financial Planning

Adviser sentenced to 12-year prison term

ASIC fraud Jayaweera Growth

A former Brisbane-based adviser has been sentenced to 12 years’ imprisonment for stealing almost $6 million of his clients’ funds.

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ASIC, Financial Planning

Ex-adviser to face dishonesty charges

dishonest conduct SMSF clients

Twelve charges relating to dishonest conduct regarding SMSF clients have been brought against a former financial planner.

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ASIC, Superannuation

ASIC specifically flags SMSF downsides

ASIC SMSF downsides

ASIC has claimed an SMSF isn’t an appropriate strategy in certain situations and potential trustees should be aware of the downsides of SMSFs before establishing one.

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Accounting, ASIC

SMSF accountant jailed for three years

SMSF accountant jailed three years

A three-year jail term has been handed down to an SMSF accountant found guilty of making false and misleading statements to obtain money from his clients and subsequently misappropriating those funds.

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ASIC

ASIC to publish SMSF red flags for consumers

ASIC SMSF red flags

ASIC has committed to better informing and protecting consumers under its latest corporate plan and will publish information on potential SMSF red flags as part of its output for the current financial year.

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ASIC, Financial Planning

SMSF advice process key to better client outcomes

SMSF advice process

Risks, alternatives and detailed record-keeping are critical for advisers discussing the potential establishment of an SMSF with clients, an SMSF expert says.

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