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Showing 151 - 160 of 902 results for "Banned"

ASIC continues to reprimand SMSF auditors

CHLOE WALKER  |  MONDAY, 24 JUL 2023
... Leggett, and Malcolm Orman were disqualified from being SMSF auditors and their names have been added to ASIC's public banned register. They are ineligible to reapply for registration, although Funder has already requested a review of the decision by ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
... fees under the commission arrangements. This is despite the charging of commissions on new superannuation accounts being banned in 2013 under the Future of Financial Advice reforms. The action, which has been ongoing since October 2019, said CFS had ...

Openmarkets hit with largest ever MDP penalty

ANDREW MCKEAN  |  THURSDAY, 6 JUL 2023
... systems. The broker also commissioned an independent review of the design of its trade systems back in 2021. Meanwhile, ASIC banned Openmarkets former acting head of trading Virginia Owczarek from providing any financial service for three years. The ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. The Federal Court found Russell Howden ...

ASIC permanently bans David Sutton

ANDREW MCKEAN  |  TUESDAY, 4 JUL 2023
ASIC has permanently banned David Sutton from providing any financial services and disqualified him from managing corporations for five years. The regulator also cancelled the Australian financial services licence (AFSL) of McFaddens Securities, now ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... parties to solicit business through cold calling. Unsolicited calls to consumers about superannuation advice should be banned, the industry body said in its May pre-budget submission, adding that it is aware of several financial advice businesses employing ...

ASIC permanently bans former financial adviser

CASSANDRA BALDINI  |  TUESDAY, 27 JUN 2023
Former financial adviser John Wertheimer has been banned by the regulator after he was convicted of using the Netwealth platform to access client accounts and make unauthorised transactions. In May 2020, Wertheimer made 48 unauthorised transactions ...

Banned adviser told to stay put

CHLOE WALKER  |  FRIDAY, 16 JUN 2023
Having already permanently banned former Shaw and Partners senior adviser Kristofer Ridgway, ASIC has now made sure he cannot leave or attempt to leave Australia. Interim travel restraint orders were made on June 11 following the regulator's application. ...

Director banned for eight years

CHLOE WALKER  |  TUESDAY, 13 JUN 2023
The director of investment manager Foxi Capital has been banned from providing financial services for eight years after it was found he lacked relevant qualifications and experience, and misled investors. Foxi Capital director and Responsible Entity ...

Perth-based Ponzi scheme shut down by court

JAMIE WILLIAMSON  |  FRIDAY, 9 JUN 2023
A Perth woman has been permanently banned from running a financial services business, while the $11 million illegal investment scheme she ran will be wound up. Monica Kaur, through her business MKS Property Investments/Developments, encouraged around ...