News : Compliance

Compliance, Superannuation

Compassionate release warning issued

The ATO has warned the misuse of rules allowing access to super on compassionate grounds will result in compliance action.

The ATO has warned the misuse of rules allowing access to super on compassionate grounds will result in compliance action.

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ASIC, Compliance, financial advice, Financial Planning

Financial services misconduct ongoing

The latest ASIC accounts of misconduct and website removals remain high with the regulator cautioning consumers to remain on alert.

The latest ASIC accounts of misconduct and website removals remain high with the regulator cautioning consumers to remain on alert.

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ASIC, Compliance, fraud

ASIC bans Adelaide accountant

The Australian Securities and Investments Commission has banned an Adelaide-based accountant after he was convicted of aggravated theft.

The Australian Securities and Investments Commission has banned an Adelaide-based accountant after he was convicted of aggravated theft.

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Compliance, financial advice, Financial Planning, Regulation

CSLR needs accountability element

Accountability for claims lodged using the Compensation Scheme of Last Resort is required for this consumer program to function properly.

Accountability for claims lodged using the Compensation Scheme of Last Resort is required for this consumer program to function properly.

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Compliance, Contributions, Strategy

Compensation payments impact caps

Contributions caps will play a key role in the deciding the handling of compensation payments made to an SMSF or its members.

Contributions caps will play a key role in the deciding the handling of compensation payments made to an SMSF or its members.

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Compliance, Regulation, Superannuation

One-for-one EPOA selection not needed

An individual appointed as an enduring power of attorney for an SMSF is not limited to act on behalf of only the fund’s trustees.

An individual appointed as an enduring power of attorney for an SMSF is not limited to act on behalf of only the fund’s trustees.

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Auditing, Compliance

Separation of assets must be provable

Auditors must seek evidence SMSFs are complying with separation of assets rules regardless of how the fund is holding them.

Auditors must seek evidence SMSFs are complying with separation of assets rules regardless of how the fund is holding them.

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Compliance, Strategy, Trusts

Examine deeds for compensation payments

SMSF deeds factoring in provisions for receiving compensation payments should ensure they cover events even after a fund has ceased operating.

SMSF deeds factoring in provisions for receiving compensation payments should ensure they cover events even after a fund has ceased operating.

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