News : ASIC

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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ASIC

SMSF advice up for further review after probes

ASIC will use recommendations from the Productivity Commission and banking royal commission to inform its next review of advice in the SMSF sector.

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Accounting, ASIC, Property

ASIC accepts EU from SMSF accountant

ASIC has accepted an EU from an SMSF accountant who received referrals from a property group in relation to setting up SMSFs.

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ASIC, Regulation

ASIC sets up new enforcement arm following RC

ASIC has created a separate enforcement division as part of its response to the recommendations of the banking royal commission.

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ASIC, Regulation

ASIC appeals best interest duty court decision

ASIC will return to the Federal Court to lodge an appeal regarding a test case around the provision of personal advice.

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ASIC, Property

Court restrains property spruiker from operating

An unlicensed financial services organisation and its sole director have been restrained from their business activities.

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ASIC, Regulation

RC calls for individual rego, new disciplinary body

Advisers should be individually registered and subject to a new, powerful, single disciplinary body, according to the banking royal commission.

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ASIC, Financial Planning

SMSF adviser pleads guilty to $4.88 million theft

A former Adelaide-based SMSF adviser has pleaded guilty to multiple counts of theft totalling more than $4.8 million.

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ASIC, Financial Planning

ASIC halts ongoing fees at CBA advice firm

ASIC has ordered Commonwealth Financial Planning to stop charging advice service fees after it failed to resolve some issues related to fees for no service.

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ASIC, Superannuation

SMSF product design obligations hard to police

Adding product design and distribution obligations to the creation of SMSFs would be hard to monitor, according to an actuarial firm.

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