ASIC

Financial planning

Court rules on licensee’s conflicted remuneration case

The Federal Court has ruled financial advice licensee RM Capital failed to take reasonable steps to prevent its authorised representative from accepting conflicted remune...

Financial planning

IDR reports are in, but what’s next?

All eyes are now on ASIC as licensees await how the regulator will use the internal dispute resolution regime data submitted as the deadline is reached....

Financial planning

‘ASX Wolf’ finfluencer hit with bankruptcy orders

ASIC has successfully obtained orders to bankrupt finfluencer Tyson Scholz for his failure to pay Federal Court costs of more than $450,000....

Financial planning

NextGen sees AFSL cancelled by ASIC

ASIC has cancelled the Australian financial services licence of NextGen Financial Group, following the Federal Court’s order in November for the firm to be wound up in in...

Financial planning

Bragg calls for ‘heads on spikes’ over wrongdoing

Dixon Advisory is a prime example of ASIC’s lack of enforcement action and wrongdoing will continue unless there are “heads on spikes”, according to Senator Andrew Bragg....

Financial planning

ASIC flags licensees’ role in super underperformance oversight

ASIC has shared findings on the role of advice licensees in the oversight of superannuation fund performance, highlighting their approved product lists and use of researc...

Financial planning

What has Bragg concluded from ASIC inquiry?

Senator Andrew Bragg has shared his biggest takeaway from chairing the Senate’s ASIC inquiry ahead of the publication of its final report, while calling for a wider finan...

Financial planning

Former Melbourne adviser sees court-enforceable undertaking

ASIC has accepted a court-enforceable undertaking from a former Melbourne financial adviser regarding advice on self-managed superannuation funds. ...

Financial planning

ASIC puts licensees on notice over super performance oversight

ASIC has issued a warning to advisers and their licensees after identifying deficiencies in their oversight of Choice super performance....

Financial planning

Former director pleads guilty to two counts of dishonest conduct

The director was pulled up last year over providing unlicensed financial product advice....

Financial planning

ASIC bans adviser following fraud conviction

ASIC has permanently banned a Perth financial adviser following his convictions of fraud....

Financial planning

Sydney advice firm sees AFSL cancelled

ASIC has cancelled the Australian financial services licence of Sydney-based Brava Capital, which was charged last October for allegedly failing to lodge financial accoun...

Financial planning

Small licensees not immune from ASIC surveillance

Smaller licensees should be aware that they are just as much on ASIC’s radar as their larger counterparts as increased data and technology means the regulator has greater...

Funds management

Federal Court makes ruling in ASIC crypto asset case

The Federal Court has made one of its first decisions on the application of financial services law regarding crypto assets for fintech company Block Earner....

Financial planning

Call for licensee levy increase to address cost asymmetry

A Western Australian financial adviser has launched a petition and called for Financial Services Minister Stephen Jones to increase the portion of the ASIC levy paid by l...