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Showing 111 - 120 of 147 results for "Jan."

Super roll-over promoter to serve time

HAMISH MADDEN  |  MONDAY, 25 SEP 2006
A Gold Coast superannuation scheme promoter has been sentenced to jail for his part in dishonestly advising clients on the use of rolling over preserved benefits and putting the funds towards the purchase of a home. Rocco Ferrantino entered a guilty ...

Advice scam nets accountant 8 years inside

HAMISH MADDEN  |  TUESDAY, 19 SEP 2006
An accountant who fleeced nearly $1 million from investors through his financial advice business has been jailed for eight years. Piet Walters was found guilty of 14 charges of dishonesty relating to $972,000 given to his Drury Management business in ...

Another Elm associate banned by ASIC

HAMISH MADDEN  |  TUESDAY, 11 JUL 2006
The Australian Securities and Investments Commission (ASIC) has banned a financial adviser associated with the failed Elm Financial Services group for three years for his part in convincing a couple to invest $1 million in a failed product. Sydney adviser ...

Directors banned over unregistered schemes

Two directors of Atlantic 3 Financial have been banned from managing a corporation following applications made by the Australian Securities and Investments Commission (ASIC). Dr Fredric Acker was banned for 10 years by the Supreme Court of Queensland ...

Investors get money back from failed mortgage scheme

HAMISH MADDEN  |  WEDNESDAY, 31 MAY 2006
Thirty-seven Queensland investors have recovered money invested in a failed solicitor's mortgage scheme which the Federal Court found negligently and deliberately misled them. Led by the Australian Securities and Investments Commission (ASIC), the class ...

Super adviser loses license after ASIC super switching survey

A Sydney-based superannuation advice specialist has lost its license after the Australian Securities and Investments Commission's (ASIC) 'super switching' survey found it breached several compliance obligations. ASIC has revoked the license of SMS Advising ...

ASIC clarifies its powers

On the back of the shadow shopping results, the Australian Securities and Investments Commission (ASIC) has issued a guide to the financial services industry and consumers clarifying its role and powers. The guide details the range of actions available ...

Machiavellian Macville gets prison term

A former financial planner and adviser from Queensland was sentenced to four and a half years imprisonment after being found guilty of six fraud charges. Robert Pierre Macville funnelled client funds of around $470,000 into his own private company Macville ...

Funds resolve ASIC disclosure issues

Several superannuation funds have responded to ASIC's direction for improvements to disclosure documents, saying the "minor" changes have been made and no members had been disadvantaged. ASIC last week issued a statement calling on four superannuation ...

ING Australia to correct unit pricing errors

ING Australia and six of its major subsidiaries will provide up to $25 million in compensation to affected investors for past unit pricing errors. The company discovered the possible unit pricing errors last May and commissioned PricewaterhouseCoopers ...