News : ASIC

ASIC, Compliance, Documentation

ASIC action highlights director ID necessity

SuperCentral director ID Director Identification Number self-managed superannuation SMSF ASIC

SMSF corporate trustees must hold a director identification number as recent ASIC action has shown no grace will be shown to those who have failed to meet this binding obligation.

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ASIC, Compliance, Regulation, Superannuation

Mercer hit with $11.3m greenwashing penalty

Federal court ASIC Greenwashing Mercer Superannuation

The Federal Court has ordered Mercer Superannuation to pay a multi-million-dollar penalty after misleading members over the nature of its sustainable investment options.

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ASIC, Compliance, financial advice, SMSF

Adviser cops ban over conflicted advice

ASIC UGC SMSF Self-managed superannuation Joel James Hewish Ban Conflicted personal advice United Global Capital Pty Ltd

A Victorian adviser who managed a firm that encouraged clients to roll their retirement savings into SMSFs to invest in his own interests has been banned for 10 years.

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ASIC, financial advice, Regulation

NSW adviser banned over conflicts of interest

ASIC Australian Securities and Investments Commission Trust SMSF Self-managed superannuation fund Australian financial services licence Christopher Edward Luff

A NSW adviser who offered an investment trust product to clients within an SMSF has been banned for not acting in their best interest and for providing inappropriate advice.

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ASIC, Regulation, SMSF

INFO 274 change having no impact

INFO 274 SMSF ASIC Self-managed superannuation Establishment Investment Trends

The significant amendment ASIC made to Information Sheet 274 has had almost no impact on SMSF establishments.

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ASIC, financial advice

Adviser levy to increase by $60

Financial adviser levy ASIC Cost Recovery Implementation Statement

The financial adviser levy will increase by around 2 per cent this year, its smallest rise since it was first introduced in the 2018 financial year.

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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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