News : ASIC

ASIC

First court action under DDO rules

ASIC DDO

ASIC has commenced civil action in the Federal Court against Firstmac Limited, in what is the initial move of this sort against a financial product provider.

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ASIC

Balance change a breakthrough for SMSFs

SMSF starting balance

The removal of references to a specific starting balance for an SMSF in ASIC guidance is a key shift for the sector, the SMSF Association has claimed.

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ASIC, Superannuation

Former super fund executives face court

Statewide Superannuation dishonesty

Two former superannuation executives have appeared before the Adelaide Magistrates Court over allegedly contravening the Corporations Act.

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ASIC, Superannuation

ASIC guidance drops balance figures

ASIC SMSF guidance

New ASIC guidance for the provision of SMSF advice has dropped references to specific minimum balances, noting it was not the driving factor of suitability.

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ASIC, Auditing

ASIC wins appeal to disqualify auditor

ASIC disqualification auditor

ASIC has won the latest round in a series of actions regarding the disqualification of an SMSF auditor, with a final determination yet to be made.

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ASIC, financial advice

Online-only adviser exam dates released

online adviser exams

ASIC has released the dates on which it will conduct adviser exams in 2023, noting they will only be offered remotely.

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ASIC, Auditing

ASIC acts against six SMSF auditors

ASIC SMSF auditors

ASIC has taken action to remove five SMSF auditors from practice and imposed conditions on another auditor following referrals from the ATO.

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ASIC

Former van Eyk chief sentenced

van Eyk chief executive sentenced

The former head of van Eyk Research has been sentenced to imprisonment and community service for breaching his duties as a director.

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ASIC

ASIC consumer protection focus to continue

ASIC consumer protection

Consumer protection will continue to be a high priority for ASIC in 2023 given the challenges investment markets are still experiencing.

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ASIC

ASIC halts income fund offering

ASIC Westlawn fund

ASIC has placed an interim stop order on the distribution of a property fund aimed at retail investors because of deficiencies found in its target market determinations.

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