News : ASIC

Accounting, ASIC, Financial Planning

ASIC puts new conditions on SMSF Advisers Network

ASIC has imposed additional licence conditions on the NTAA-owned SMSF Advisers Network following concerns about compliance with the best interest duty.

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ASIC, Education, Superannuation

Super complaints, consumers given funding boost

The government will investigate the creation of an advocacy body for superannuation consumers, while providing funding to deal with unresolved complaints.

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ASIC, Financial Planning

Consumers misunderstand types of advice

Consumers have a poor understanding of the difference between general financial advice and personal financial advice, according to new research conducted for ASIC.

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ASIC, Commercial Property

ASIC wraps up last action against Westpoint

After 19 civil actions, ASIC has wrapped up its financial recovery efforts related to the failure of WA-based property group Westpoint in 2005.

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ASIC, Superannuation

SMSF adviser cops 10-year sentence over conduct

An adviser banned by ASIC has also been sentenced to 10 years’ imprisonment on eight counts of engaging in dishonest conduct.

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ASIC, Auditing

ASIC sanctions several SMSF auditors

ASIC has handed penalties to several SMSF auditors for failing to meet their professional requirements.

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ASIC

SMSF firm loses appeal for AFSL

The Administrative Appeals Tribunal has upheld ASIC’s decision to refuse a limited Australian financial services licence to a company that wanted to provide SMSF product advice.

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ASIC

ASIC’s rejection of licence application upheld

The Administrative Appeals Tribunal has upheld an Australian Securities and Investments Commission decision to reject an application for an Australian financial services licence by an SMSF service provide.

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ASIC

Limited licence applications remain at low levels

ASIC figures have shown limited licence application are still at low levels. 

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ASIC, Regulation

Disciplinary body needs teeth

The banking royal commission recommendation to create a new disciplinary body for financial advice is appropriate as long as it is granted strong powers.

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