News : ASIC

ASIC, ATO, Auditing, Compliance

ATO refers record number of auditors to ASIC

ATO SMSF auditor ASIC

The number of referrals of auditors to ASIC by the ATO has climbed to its highest level in five years due to concerns about independence and evidence gathering.

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ASIC, Compliance, financial advice

More details needed on levy spending

ASIC adviser levy FAAA Sarah Abood

ASIC should provide the advice sector with further information on how it spends more than $55 million each year on enforcement work, given the recent increase in the adviser levy.

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ASIC, Compliance

ASIC acts over super fee concerns

ASIC David Valvo

ASIC has frozen the assets and restricted the travel of a former adviser and comedian in regards to concerns over superannuation fees charged to clients.

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ASIC, Compliance, SMSF

ASIC sues Dixon Advisory director

ASIC Paul Ryan Dixon Advisory

ASIC has taken legal action against a company director for allegedly breaching his duties and failing to act in the interests of creditors during insolvency.

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ASIC, SMSF

Director pleads guilty to dishonest conduct

Dishonest conduct

A former director who used SMSFs in relation to the misappropriation of over $500,000 of client funds has pleaded guilty to dishonest conduct.

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ASIC, Property

ASIC takes action against property developer

ASIC SMSf property scheme Sasha Hopkins

ASIC has sought orders to shut down a property investment company and ban its director, saying the business’s development schemes via SMSFs were unlicensed and unregistered.

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ASIC, ESG

ASIC acts on Vanguard ESG screening concerns

ASIC Vanguard ESG

ASIC has started civil penalty proceedings against Vanguard Investments Australia, alleging the use of an ESG screen in a bond fund was misleading.

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ASIC, Auditing

ASIC acts against eight SMSF auditors

ASIC SMSF auditors

ASIC has disqualified the registrations of five SMSF auditors and placed additional conditions on the registrations of three SMSF auditors for failing to meet their auditing obligations.

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ASIC, Compliance, financial advice

RG 175 knowledge a compliance must

RG 175

Financial advisers need to have a working knowledge of Regulatory Guide 175 to ensure their compliance procedures are sound.

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ASIC, Compliance, financial advice

External information can lower risk

ASIC

Pointing clients to investment guidance provided by organisations such as ASIC is a good way to minimising the risk of an advisory practice.

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