The Australian Securities and Investments Commission (ASIC) has begun civil penalty proceedings in the Federal Court against Westpac in relation to poor advice provided by one of its former financial advisers.

Financial planners will be limited in providing advice on the pension loans scheme (PLS) unless they are adequately licensed, a specialist aged-care expert has warned.

The federal government has announced the early release of superannuation on compassionate grounds will be transferred to the ATO from 1 July.

There is one budget announcement that has received very little publicity – probably because it’s not controversial and is, in fact, just good old common sense.

Online broking company Bell Direct is increasingly fielding queries from SMSF trustees on contribution limits, changing regulation and balance caps as they look to manage their administration.

The federal government today introduced a bill into Parliament in relation to non-arm’s-length income (NALI) rules to prevent SMSFs from inflating super earnings through non-arm’s-length dealings.