News : ASIC

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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ASIC, financial advice

Adviser levy increase unfair

Financial adviser levy

The government’s decision to end the financial adviser levy freeze is unfair as the model for calculating the appropriate fee level is still under review.

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ASIC, financial advice, Financial Planning

ASIC levy to rise past $3000

ASIC adviser levy

The financial adviser levy charged by ASIC will climb past the level that led to the previous government imposing a two-year freeze on the industry funding applied by the regulator.

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ASIC, financial advice

Adviser levy set to increase

adviser levy

The government will end the temporary relief program on the ASIC levy paid by financial advisers from the end of this financial year.

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ASIC, Property, SMSF

Unlicensed SMSF property scheme wound up

unlicensed SMSF scheme

The Federal Court has ordered an unlicensed SMSF investment scheme to be wound up and a lifetime ban from managing corporations for one of its directors.

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