News : Compliance

Compliance, Documentation, Legislation, Pensions, Regulation

Pension documentation flexibility needed

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

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Auditing, Compliance, Cryptocurrency, Investments, Legislation, Regulation

Crypto audit guidelines issued

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

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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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Compliance, Division 296, Legislation, Tax

Fancy doing that

The government announcement indicating the Division 296 tax measure has been changed represents a huge policy backflip.

The government announcement indicating the Division 296 tax measure has been changed represents a huge policy backflip.

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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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ASIC, Compliance, financial advice, Financial Planning

ASIC bans UGC, Shield-linked adviser

An adviser who was licensed to two firms offering risky investments and using SMSFs to access them has been banned for seven years.

An adviser who was licensed to two firms offering risky investments and using SMSFs to access them has been banned for seven years.

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Administration, Compliance, Legislation, Regulation

ATO reveals common admin errors

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

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Auditing, Compliance, Documentation, Legislation, Regulation

Flag deed chain problems in audit

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

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ASIC, Compliance, Investments, Legislation

Seventh Shield-linked adviser banned

A financial adviser from a licensee that has had six practitioners banned has met the same fate over advice to invest in the Shield Master Fund.

A financial adviser from a licensee that has had six practitioners banned has met the same fate over advice to invest in the Shield Master Fund.

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Auditing, Compliance

Don’t avoid review recommendation

SMSF auditors should take seriously the recommendation to review client files where a large part of their referrals come from a single source.

SMSF auditors should take seriously the recommendation to review client files where a large part of their referrals come from a single source.

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