DHA subject of AFP investigation
Defence Housing Australia (DHA) which has promoted itself heavily seeking investment via financial advisers and self-managed superannuation funds (SMSFs) is currently the subject of an investigation by the Australian Federal Police (AFP).
The AFP investigation has been instigated following a referral from the Department of Finance which together with the Department of Defence is the major shareholder in DHA.
Neither the AFP nor the Department of Finance has revealed the nature of the investigation.
A parliamentary inquiry is currently underway into the operations DHA, including senior management arrangements and board composition.
The inquiry is also investigating future land sales and the implication for residents if existing housing stock is sold.
Recommended for you
Betashares has named the top Australian suburbs with the highest spare cash flow, shining a light on where financial advisers could eye out potential clients.
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
