News : ASIC

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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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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