In light of the Royal Commission, the Turnbull Government has increased criminal and civil penalties for corporate misconduct and boosted ASIC's surveillance powers.

Powerwrap has confirmed it recently completed a pre-IPO capital raise to the tune of $7.5 million.

Two Blue Sky funds have been rated "unapproved" and "low investment grade" by SQM Research after the manager conceded it had fallen short of shareholder expectations.

The financial advice industry is grappling with a sales culture mentality and is only at the "cusp" of being a "true profession," this morning's session of the Royal Commission has revealed.