News : ASIC

ASIC, Compliance

ASIC targeting company compliance

SMSF corporate trustees compliance

Increased scrutiny is being applied to the compliance activities of SMSF corporate trustees by ASIC.

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ASIC, SMSF

Melbourne adviser cops permanent ban

adviser banned SMSFs

ASIC has banned a Melbourne-based financial adviser for misappropriating over $1.6 million in client superannuation savings rolled over to SMSFs.

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ASIC, financial advice

Licensee breach reporting guide revised

AFS licensees

The regulatory guide governing the reporting of Australian financial services licensee and credit licensee breaches has been updated by ASIC.

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ASIC, SMSF

Ex-adviser jailed for six years

SMSF fraud

A former Sunshine Coast financial adviser has been sentenced to six years’ jail for fraud after withdrawing funds from his SMSF clients’ accounts for personal use.

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ASIC, Auditing, SMSF

More SMSF auditors sanctioned

SMSF auditors

ASIC has taken enforcement action against 11 registered SMSF auditors, including the disqualification of seven practitioners.

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ASIC, Auditing

More ASIC auditor fee action needed

SMSF auditors fee

The fee auditors are charged for cancelling their ASIC registration is set to be reduced, but the SMSF Association wants more to be done.

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ASIC

Property spruiker cops eight-year ban

Christine Childs banned

Former mortgage broker and property spruiker Christine Childs has been banned from providing financial services for eight years for operating without a licence.

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ASIC, Auditing

374 auditor registrations voided

SMSF auditors cancelled

A total of 374 SMSF auditors have had their registration with the Australian Securities and Investments Commission cancelled for compliance issues.

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ASIC

Ex-SMSF adviser guilty of dishonest conduct

SMSF adviser dishonest conduct

A former financial adviser has pleaded guilty to three counts of engaging in dishonest conduct while running a financial services business.

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ASIC, financial advice, Tax

Adviser register to show tax advice capability

Advisers register tax advice

ASIC’s adviser register will show which financial advisers can provide tax advice but the accuracy of information will depend on licensees.

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