ASIC

Policy & Regulation

ASIC bans Qld responsible manager for four years

ASIC has banned Albert Christen Walters, known as Chris Walters, a former director of a financial services licensee, from performing the functions of an officer and a res...

Policy & Regulation

ASIC makes first DDO stop orders on three firms

The Australian Securities and Investments Commission has imposed its first design and distribution stop orders on three financial firms in response to deficiencies in the...

Financial planning

How many advice enforcement outcomes has ASIC made this year?

The Australian Securities and Investments Commission has released its half-yearly data on financial advice misconduct cases and enforcement outcomes....

Financial planning

Should advisers and finfluencers have the same regulation?

The Advisers Association says it is “extremely unfair” that well-qualified, experienced, professional advisers have to go through more hoops than finfluencers to provide ...

Financial planning

Unregistered MIS operator charged with $36.5m fraud

An unregistered managed investment scheme operator in Western Australia has been charged with defrauding investors of $36.5 million in 50 counts of fraud....

Policy & Regulation

Former Sydney adviser receives three-year sentence

A former Sydney financial adviser has been sentenced to three years and two months imprisonment and fined $9,500 for acting dishonestly as a company director and stealing...

Policy & Regulation

Victorian AR charged with providing unlicensed product advice

A Victorian authorised representative has been charged with engaging in dishonest conduct in the course of carrying on a financial services business and providing unlicen...

Financial planning

Final day for adviser exam registration

Today is the final day for candidates who need to pass by 1 October to register for the last sittings of the financial adviser exam....

Policy & Regulation

Court finds RC case study firm acted ‘unconscionably’

The Federal Court has found Select AFSL, the subject of a Royal Commission case study, engaged in unconscionable conduct when selling insurance products and provided conf...

Policy & Regulation

ASIC commences proceeding against $1b ‘licensee for hire’

ASIC has commenced civil penalty proceedings in the Federal Court against ‘licensee for hire’ company Lanterne Fund Services, as its systems and processes were “wholly de...

Policy & Regulation

ASIC bans Melbourne-based adviser for three years

ASIC has banned Melbourne-based financial adviser David Noel Ruthenberg from providing financial services for three years....

Policy & Regulation

ASIC sues Mercer Financial Advice for fees for no service

ASIC has commenced civil penalty proceedings against Mercer Financial Advice for allegedly making false or misleading representations to its customers about fees charged ...

Financial planning

Which advisers have come under ASIC’s scrutiny?

In the final days of the financial year, Money Management reviews the number of charges made by ASIC against current and former financial advisers in the second half of 2...

Financial planning

ASIC seeks to freeze assets of company director

ASIC has sought to freeze the assets of Ashley Vincent Arandez who is alleged to have obtained $2.5 million from investors by suggesting their funds would be invested in ...