News

DDO regime should include carve-out

June 20, 2022

SMSFs should be exempt from design and distribution obligations as they are not products, but personalised structures used by members to access products.

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ASIC

Squirrel penalised for false investment claims

June 20, 2022

Tia Thomas

Squirrel Superannuation Services has been ordered to pay a penalty after ASIC found it falsely marketed investment returns for residential property held via SMSFs.

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Investments

Pooled investments favoured

June 20, 2022

Jason Spits

SMSFs are using pooled structures for around one-third of their investments, according to an analysis of underlying funds from an administration provider.

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ATO, Compliance

ATO adds 170 to disqualified trustee register

June 20, 2022

Tia Thomas

The ATO has updated and published its disqualified trustee register to include individuals disqualified before 31 March.

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ASIC

Ex-adviser breaches ASIC ban order

June 20, 2022

Tia Thomas

A former Queensland adviser has breached a seven-year ASIC ban, while another has had a conviction for dishonest conduct overturned.

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ASIC, Education

Exam pass rate stays low

June 20, 2022

Jason Spits

The pass rate for the penultimate adviser exam has remained low, with many of those taking the exam resitting it for at least a second time.

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Financial Planning

Advice value-add evident

June 16, 2022

Darin Tyson-Chan

One specific area where financial advice can add value for SMSF trustees has been identified by the latest quantitative research into the sector.

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Death benefits

Trust deed critical for death benefits

June 16, 2022

Tia Thomas

The detail included in an SMSF trust deed requires examination to understand the procedures that need to be followed regarding death benefit payments.

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Accounting