News : ASIC

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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ASIC

ASIC bans director of illegal SMSF promoter

ASIC early release Superfunded

ASIC has banned the director of Superfunded for eight years after he promoted the illegal early access of superannuation funds.

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ASIC

ASIC to track end of grandfathered remuneration

ASIC grandfathered remuneration

ASIC will investigate the industry’s progress as it moves to end grandfathered remuneration arrangements for financial advisers by the 2021 deadline.

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ASIC, Financial Planning

ASIC bans SMSF adviser for dishonest loans

ASIC bans SMSF adviser

A former Victorian SMSF adviser has been banned by ASIC after it found he had borrowed money from clients’ accounts and had breached a range of financial services laws.

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