News : ASIC

ASIC, Compliance, Financial Advice, Financial Planning

UGC, Shield-linked adviser banned

ASIC has banned a Melbourne-based adviser for his role in promoting investments deemed not to serve the best interests of his clients.

ASIC has banned a Melbourne-based adviser for his role in promoting investments deemed not to serve the best interests of his clients.

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ASIC, Compliance, Financial Advice, SMSF

Conflicted SMSF advice draws penalties

A licensee and authorised representative have been handed fines of more than $900,000 for SMSF advice based off conflicted remuneration.

A licensee and authorised representative have been handed fines of more than $900,000 for SMSF advice based off conflicted remuneration.

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ASIC, ATO, Auditing

Audit work concentrated among few

Audit work related to SMSFs is increasingly being carried out by fewer practitioners as their fees remain static.

Audit work related to SMSFs is increasingly being carried out by fewer practitioners as their fees remain static.

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ASIC, Compliance, Financial Advice, Financial Planning

Exam pass rate remains steady

The most recent ASIC adviser exam has seen more people undertake the exercise, while the pass rate has remained steady.

The most recent ASIC adviser exam has seen more people undertake the exercise, while the pass rate has remained steady.

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ASIC, Documentation, Trusts

ASIC docs insufficient to prove SMSF status

An ASIC registration will not prove a company is acting as a corporate trustee and auditors will require more detailed proof.

An ASIC registration will not prove a company is acting as a corporate trustee and auditors will require more detailed proof.

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ASIC, Documentation

Updated PDS guidance published

New regulator guidance has clarified a number of terms and non-complying consequences if mandatory PDS requirements are not met.

New regulator guidance has clarified a number of terms and non-complying consequences if mandatory PDS requirements are not met.

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ASIC, Auditing

New charges against banned auditor

An SMSF auditor who has been previously banned by ASIC is facing new charges after allegations he continued to provide these services.

An SMSF auditor who has been previously banned by ASIC is facing new charges after allegations he continued to provide these services.

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ASIC, Compliance, Financial Advice, Financial Planning

Licensees, research house face Shield scrutiny

ASIC has begun action against two licensees and a research house over their connections to the failed Shield and First Guardian master funds.

ASIC has begun action against two licensees and a research house over their connections to the failed Shield and First Guardian master funds.

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ASIC, Compliance, Legislation

Shield, First Guardian adviser restrained

ASIC has restrained the activities of an adviser who recommended clients invest their super into the Shield and First Guardian master funds.

ASIC has restrained the activities of an adviser who recommended clients invest their super into the Shield and First Guardian master funds.

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ASIC, Compliance, Financial Advice, Financial Planning, Investments

UGC auditor registration cancelled

An auditor linked to United Global Capital has been deregistered in the latest round of action against the investment scheme firm.

An auditor linked to United Global Capital has been deregistered in the latest round of action against the investment scheme firm.

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