ASIC

Financial planning

Adviser’s non-compliant SOA problems broken down by ASIC

Details have been shared regarding the failures in an adviser’s non-compliant statements of advice which led to a three-year ban as well as how improvements in his behavi...

Financial planning

‘Much too high’: FAAA advocates further ASIC levy reduction

While ASIC’s estimated FY24 levy only saw a slight $60 rise per adviser compared to the previous year, FAAA’s Sarah Abood believes it is still too high for a shrinking in...

Financial planning

ASIC permanently bans former WA adviser

ASIC has permanently banned a former Western Australia-based financial adviser after he falsified his adviser exam certificate....

Financial planning

How much is ASIC’s 2023–24 industry levy?

ASIC has confirmed the estimated industry funding levy for the 2023–24 financial year and how much licensees can expect to pay....

Financial planning

Sydney adviser sees ASIC ban reduced by AAT

A second financial adviser has seen their ASIC ban varied this week following a successful appeal to the Administrative Appeals Tribunal. ...

Financial planning

Which AFSLs did ASIC target in FY24?

With the 2023–24 financial year behind us, Money Management takes a look back on the financial advice licensees that were hit with enforcement action by ASIC in the past ...

Financial planning

Unpacking experience pathway’s impact on FAR

With the financial advisers register no longer distinguishing those who have used the experienced pathway to provide advice, how will this affect consumers and employers?...

Financial planning

ASIC dismissing misconduct reports in 40 seconds

The final ASIC inquiry report has found more than 26,000 reportable situations reports made by licensees during 2022–23 were assessed as requiring no action, while public...

Financial planning

ASIC releases pass mark for June sitting

ASIC has released the exam results for its June sitting of the financial adviser exam....

Financial planning

What does Bragg’s final ASIC inquiry report recommend?

Senator Andrew Bragg has released the final report of the ASIC inquiry, making 11 recommendations as to how the corporate regulator can be improved....

Financial planning

What led an adviser to falsify his exam result?

A financial adviser describes how he reached “breaking point” over the FASEA system when he falsified his financial adviser exam result, while the judge shares why he var...

Financial planning

Adviser’s permanent ban after exam falsification varied by AAT

A financial adviser who was permanently banned for falsifying his financial adviser exam result has seen the banning amended following a successful appeal to the Administ...

Financial planning

ASIC makes first AFSL action of FY24–25

ASIC has suspended the AFSL of a Sydney advice firm, the first action it has taken in the new financial year....

Financial planning

AFSLs urged to check for inconsistencies on FAR

ASIC says spot checks have “identified errors and inconsistencies” on the Financial Advisers Register and urged AFSLs to assess the accuracy of their records....

Financial planning

The advisers under ASIC’s scrutiny in FY24

As the 2023–24 financial year comes to a close, Money Management reviews the financial advisers who fell under the regulator’s enforcement spotlight....