News : ASIC

ASIC

ASIC bans Sam Henderson for three-years

ASIC bans Sam Henderson

ASIC has banned former high profile Sydney financial adviser Sam Henderson for three years after he failed to act in the best interest of clients and provide them with appropriate advice.

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ASIC, Auditing

ASIC disqualifies auditors in crackdown

ASIC disqualifies auditors

ASIC has moved against 17 SMSF auditors, disqualifying some and placing additional conditions on others following concerns they were not meeting professional obligations.

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ASIC, Regulation

ASIC acts on licensees outside dispute scheme

financial services complaints scheme

ASIC has moved to ensure financial services providers are covered by the industry dispute resolution scheme, prompting 50 firms to sign up to AFCA.

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ASIC

Adviser handed decade-long prison term

ASIC disqualifies auditors

A former Adelaide-based adviser has been sentenced to 10 years’ imprisonment having stolen nearly $5 million of his clients’ money.

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ASIC, ATO, Compliance, Regulation

Evidence needed to back SMSF review calls

SMSF; review

Calls for a review of the SMSF sector need to be backed with evidence, the SMSF Association has stated, pointing out four reviews have yet to flag major concerns.

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ASIC, Regulation

Legacy complaints now under AFCA’s remit

The Australian Financial Complaints Authority is now able to deal with legacy complaints about the financial services industry as a result of approval granted by the Australian Securities and Investments Commission.

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ASIC, Financial Planning

ANZ completes work over fees for no advice

ANZ has complied with an enforceable undertaking aimed at remediating advice customers caught up in fees-for-no-service conduct.

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ASIC, Financial Planning, Property

ASIC begins first conflicted remuneration case

SMSF; advice; conflicted remuneration

A Queensland SMSF advice business and its Perth-based licensee will face court in the first legal case dealing with conflicted remuneration related to financial advice.

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ASIC, Financial Planning

WA adviser banned for misleading conduct

ASIC has banned a Perth adviser who recommended SMSFs without considering client interests after he was also found to have recreated missing advice documents.

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Accounting, ASIC

Former accountant jailed for fraud

A former accountant who recommended the use of an SMSF with some clients has been jailed after he defrauded investors of $815,000.

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