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ASIC
Financial planning
The FSCP has issued a registration prohibition order against a financial adviser until 2025 for misleading a client through a scaled advice model that excluded an SMSF in...
Policy & Regulation
The Federal Court has penalised ANZ over its breach of continuous disclosure obligations and has warned other institutions could face a penalty as high as $780 million if...
Financial planning
A financial adviser has been banned from giving personal advice to retail clients until 2025 after the FSCP found there is a “real risk of harm” to the public’s confidenc...
Funds management
International research firm Morningstar has fallen foul of ASIC’s greenwashing rules after allegedly making investments into nuclear weapons despite its ESG policy....
Superannuation
Super trustee OnePath Custodians has been ordered to pay $5 million for fees for no service misconduct, less than six months after being fined $1.4 million by APRA....
Financial planning
A former AMP authorised representative has been convicted in the District Court of Western Australia for three counts of dishonest conduct....
Policy & Regulation
A former strategy manager at suspended stockbroking firm BBY has been charged with aiding and abetting dishonest conduct including the alleged transfers of $8.7 million i...
Financial planning
There is room for more flexibility in the financial advice exam, according to FAAA chief executive Sarah Abood, and the organisation is advocating for this to be improved...
Financial planning
NextGen Financial Group has formally entered into liquidation after losing a Federal Court case regarding an unpaid $270,000 Australian Financial Complaints Authority det...
Financial planning
Affected clients of Mercer Financial Advice paid over $14 million in inappropriate ongoing fees, as court documents show ASIC pushed for a penalty of $20 million....
Financial planning
Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations. ...
Financial planning
The regulator has updated on the status of a former Sydney financial adviser alleged to have faked client signatures to illegally obtain around $750,000. ...
Financial planning
The former director of a financial advice group has been disqualified from managing corporations after ASIC found he put investor funds at risk and made misleading and de...
Financial planning
Financial advisers receive the second-highest expenditure in ASIC’s financial services and wealth division, according to documents, ahead of investment managers and super...
Superannuation
ASIC has announced its enforcement priorities for 2024, which include two new points relating to the superannuation industry....
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Podcast
This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...