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Showing 51 - 60 of 130 results for asic shield

Diversa hit with additional licence conditions

ELIZA BAVIN | TUESDAY, 23 DEC 2025

... frameworks and practices, including oversight of platform investment options made available to members. This comes in the wake of ASIC launching legal action against Diversa for its role in the collapse of the First Guardian Master Fund, in which $300 ...

Adviser of MWL, UGC banned for seven years

MATTHEW WAI | MONDAY, 22 DEC 2025

... into the 'High Growth' or 'Growth' class of the Shield, which was not in his clients' best interest. Earlier this month, ASIC suspended MW Planning 's Australian financial services licence (AFSL) after it failed to appoint a new responsible manager. ...

Most read in 2025: Financial advice

STAFF WRITER | FRIDAY, 19 DEC 2025

... super funds can collectively charge for. However, despite the wait, some elements of the expected reforms were missing. 5. ASIC bans adviser fraudster found with child abuse material A Brisbane-based financial adviser was banned after being found guilty ...

Netwealth to spend $101m compensating First Guardian victims

JAMIE WILLIAMSON | THURSDAY, 18 DEC 2025

... sufficiently assess the First Guardian Master Fund before making it available to super members, Netwealth is being sued by ASIC and will repay $101 million to victims. More than 1000 investors had their money in the First Guardian Master Fund via the ...

Equity Trustees hit with additional licence conditions

ELIZA BAVIN | THURSDAY, 18 DEC 2025

... committed to active engagement and co-operation with the regulators." APRA said it will continue to coordinate closely with ASIC on the regulatory response to weaknesses identified in platform trustees. Speaking at the Equity Trustees annual general ...

Sequoia expects earnings hit from Shield, First Guardian

KARREN VERGARA | TUESDAY, 16 DEC 2025

... will not affect underlying operating cash flow or the ongoing performance of the group's core business units," Sequoia said. ASIC is currently suing Sequoia's subsidiary Interprac Financial Planning, alleging its financial advisers provided thousands ...

Mulino wants PII to step up to make CSLR sustainable

KARREN VERGARA | MONDAY, 15 DEC 2025

... subrogation rights to pursue recoveries under PII policies. To further strengthen regulatory settings, stakeholders want ASIC to exercise its powers to require licensees to maintain PII for the same length of time as they are required to maintain (Australian ...

ASIC suspends MW Planning AFSL over missing responsible manager

MATTHEW WAI | FRIDAY, 12 DEC 2025

ASIC has suspended the Australian financial services licence (AFSL) of MW Planning, a subsidiary of MWL Financial Group, after it failed to appoint a new responsible manager. The AFSL is suspended until 8 June 2026. ASIC said MW Planning failed to fulfil ...

Mulino looks to reform CSLR

ELIZA BAVIN | THURSDAY, 11 DEC 2025

... levy based on capacity to pay is the most just of the many unjust possible options," Abood said. "However, by choosing the ASIC funding levy as the basis for allocation, rather than spreading the impact on the basis of capacity to pay, the Minister has ...

Mulino taps super sector to help pay CSLR special levy

ELIZA BAVIN | WEDNESDAY, 10 DEC 2025

... to meet the CSLR shortfall by applying the special levy on all "retail facing" sub-sectors apportioned in accordance with ASIC regulatory effect. Under this approach the primary sub sectors contributing to the levy would be licensees that provide personal ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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