News : ASIC

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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ASIC, Financial Planning

Qld adviser banned for five years

A Gold Coast adviser who recommended the use of SMSFs to buy property has been banned after ASIC found the advice was not in the best interest of clients.

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ASIC, Regulation

Licence applicants face difficulties on PI cover

Advice licence applicants are facing trouble in getting approved due to difficulties in securing PI insurance, according to a financial services legal firm.

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ASIC, Compliance

ASIC clarifies litigation strategy

ASIC has detailed how its enforcement activities will operate, highlighting that while litigation was an option, other enforcement actions were also in use.

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ASIC

ASIC revokes authorisations of ‘doubly registered’ licensees

Fifty eight licensees who were authorised with another licensee have fallen foul of ASIC which has revoked their authorisations.

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ASIC, Regulation

Queensland adviser cops five-year ban

A financial adviser has been given a five-year ban by the Australian Securities and Investments Commission for breaching his legal requirements as an Australian financial services licensee authorised representative.

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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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