News : ASIC

ASIC, Regulation, SMSF, Superannuation

Senate inquiry slams ASIC over Dixon response

ASIC Senate Dixon Advisory Self-managed superannuation SMSF Senate inquiry

A Senate committee has criticised ASIC for its response to the Dixon Advisory case as part of an inquiry into the regulator’s handling of corporate misconduct.

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ASIC, Education, financial advice

ASIC issues adviser qualifications warning

ASIC Financial Adviser Register Adviser qualifications compliance program

ASIC will check information submitted by Australian financial services licensees regarding their advisers’ qualifications following the discovery of reporting issues in a recent review.

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ASIC, Compliance, fraud

Ex-adviser banned for SMSF fraud

ASIC SMSF Brett Andrew Gordon Fraud

A former adviser convicted of fraud for using funds from his clients’ SMSF accounts has been permanently banned a year after he received a jail sentence for the crime.

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ASIC, financial advice, Regulation

Advisers must self-declare experience status

Financial advisers ASIC Experienced provider pathway

Financial advisers must self-declare their status as an experienced provider to use that qualification pathway to continue providing advice from the start of next year.

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ASIC, Compliance

AFSL cancelled due to adviser misconduct

ASIC Australian financial services licence AFSL Octillion Partners SMSF advice Shane Allen Rose

ASIC has cancelled the license of a Queensland-based advice firm due to the non-compliant activities of one of its SMSF advisers.

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ASIC, financial advice

ASIC freezes SMSF adviser’s assets

ASIC Sunny Prakash SMSF Assets frozen

ASIC has frozen the assets of an SMSF adviser and auditor following concerns about activities in relation to the trading accounts of his clients.

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ASIC, financial advice, Regulation, Superannuation

ASIC to scrutinise super switching

Superannuation switching ASIC Referral arrangements Enforcement priority

Advice regarding the switching of superannuation membership from one fund to another is an area on which ASIC will be focused this year.

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ASIC, Compliance, SMSF

Macquarie fined over SMSF fees

ASIC SMSF Macquarie Bank Federal Court Unauthorised fees Ross Hopkins Cash management accounts

Macquarie Bank has been ordered to pay $10 million in fines after failing to prevent unauthorised fee transactions from its clients’ SMSF accounts by a third party.

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ASIC, Crypto Assets, Investments, Regulation

ASIC takes action over crypto mining scheme

SMSF Blockchain mining Cryptocurrency assets Digital assets SMSF ASIC NGS Companies

ASIC has commenced legal action against three blockchain mining companies that encouraged individuals to transfer their entitlements into SMSFs and convert them into cryptocurrency.

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ASIC, Investments

Mayfair director arrested for dishonest conduct

ASIC James Mawhinney Mayfair 101 IPO Wealth Fund dishonest conduct

Following a day of court action to strike out parts of an ASIC case against him, Mayfair 101 managing director James Mawhinney has been charged with dishonest conduct.

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