News : ASIC

ASIC, Superannuation

AFSL cancelled for conflicts of interest

The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of Evermore Money Management for failing to comply with several licensee obligations and manage conflicts of interest.

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ASIC

ASIC reveals hurdles in dispute resolution

Research by the corporate regulator into consumer experiences of internal dispute resolution (IDR) procedures across the financial services sector has found they face significant barriers and difficulties in navigating the complaints process.

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ASIC, Education, Insurance

Education key to 2019 advice proposition

SMSF; FASEA; credit; specialist

The findings from the Australian Securities and Investments Commission’s (ASIC) “Report 575: SMSFs: Improving the quality of advice and member experiences” indicate education activities for trustees should be an important part of advice propositions in the coming year, according to a specialist business consultant.

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Accounting, ASIC, Compliance

Unlicensed accountants get new documentation tool

Specialised SMSF training firm Smarter SMSF has joined forces with Licensing for Accountants to launch a documentation tool for unlicensed accountants, allowing them to provide execution-only services without providing advice.

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Appointments, ASIC

Govt announces new ASIC deputy chair

The federal government has appointed Productivity Commission deputy chair Karen Chester as a full-time deputy chair of the Australian Securities and Investments Commission (ASIC).

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ASIC, Auditing

Advisers must protect themselves from legal action

An SMSF business consultant has warned the findings contained in a recent Australian Securities and Investments Commission (ASIC) report about the sector’s financial advice provision indicate practitioners need to ensure they are properly protected against legal action from trustees in the event of an adverse outcome.

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ASIC

Planner charged over SMSF fund transfers

A former Melbourne financial planner has been charged with 13 offences involving dishonesty relating to his clients’ SMSF assets while running a financial services business.

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Accounting, ASIC, Property

Industry echoes execution-only advice warning

SMSF industry experts have repeated warnings issued by the corporate regulator that there will be a clampdown on client-driven execution-only advice by unlicensed accountants establishing SMSFs for their clients.

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ASIC, Regulation

Firms reminded of AFCA membership

The Australian Securities and Investments Commission (ASIC) has reminded financial firms that are members of the Australian Financial Complaints Authority (AFCA) to notify the regulator of their AFCA membership by 30 November or face late fees.

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ASIC, Property, Retirement

Advisers failing SMSFs on property: panel

SMSF advisers are failing to discuss vital issues with clients when advising them on property investment, including contingency plans when they retire and liquidity issues.

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