Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 481 - 490 of 5609 results for "ASIC"

Adviser receives permanent ban over 'dishonest' conduct

MATTHEW WAI  |  TUESDAY, 8 JUL 2025
ASIC has permanently banned financial adviser Barry David King of Melbourne following several years of misusing client funds and falsifying documents. King was found to have engaged in serious misconduct, including concealing information from clients ...

ASIC funding levy to charge advisers $46.2m

KARREN VERGARA  |  FRIDAY, 4 JUL 2025
... only, in which there are 1991, will pay $16 million and pay a flat levy of $825. In budgeting the $39.3 billion FY25 levy, ASIC expects to allocate $17.2 million on enforcement activity and $5.6 million on supervision and surveillance. ASIC flagged it ...

ASFA publishes new service standards on claims handling

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
... claims, and follows the release of ASFA's Service Standard, Death Benefits Payments in September last year. This comes after ASIC has called out the superannuation industry on numerous occasions this year around poor claims handling times. The new ASFA ...

CSLR releases revised levy estimate

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
... numbers do not include any allowance for the impact of either Shield or First Guardian, although numerous announcements by ASIC suggest these are very substantial matters where financial advice complaints are likely. "This paints a picture of multiple ...

Fees for no service see former adviser banned

JAMIE WILLIAMSON  |  THURSDAY, 3 JUL 2025
... fees for no service. Kiriley Roper was a director, shareholder and adviser at Lighthouse Partners in Redcliffe, Queensland. ASIC alleges that between January 2022 and October 2023 Lighthouse Partners engaged in fees for no service conduct in relation ...

ASIC targets advisers, platforms, research houses in super switching scams

KARREN VERGARA  |  THURSDAY, 3 JUL 2025
ASIC warns it will take a deeper dive into the roles that financial advisers, superannuation platforms and research houses are playing in members being pushed into high-risk investment schemes. The corporate regulator is closely looking at the entire ...

Banned director sentenced for running financial services firm

JAMIE WILLIAMSON  |  THURSDAY, 3 JUL 2025
... corporation while disqualified. He was convicted in 2023 and fined $6000. He was permanently banned the following year, and ASIC then filed a contempt application in the Federal Court. Now, Fuoco has been convicted on 18 charges of contempt and sentenced ...

ASIC places travel restriction on First Guardian RE directors

ELIZA BAVIN  |  WEDNESDAY, 2 JUL 2025
... David Anderson and Simon Selimaj, as the responsible entity of the First Guardian Master Fund, following an application from ASIC. The orders prohibit Anderson and Selimaj from leaving or attempting to leave Australia until 27 February 2026. The Federal ...

APRA expects 'no cutting corners' with CPS230

KARREN VERGARA  |  TUESDAY, 1 JUL 2025
... experience, have them properly traced and documented and ensure that they are at the standard required." This is in light of ASIC handing down a scathing review on the state of superannuation trustees failing to monitor or report on their death benefit ...

RBA powers deemed 'last resort' for critical financial infrastructure fallout

MATTHEW WAI  |  TUESDAY, 1 JUL 2025
... Treasury Laws Amendment (Financial Market Infrastructure and other measures) Bill in September 2024. Under new the legislation, ASIC is primarily responsible for the licensing regime, while the RBA will oversee the financial system stability and supervise ...