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Showing 1 - 10 of 10 results for "ASIC concerns"

ASIC concerns see 18 funds update advertising materials

JAMIE WILLIAMSON  |  THURSDAY, 8 SEP 2022
ASIC surveillance of managed funds' marketing materials has found several instances of inadequate warnings or disclaimers related to performance and downplaying of risks, leading 13 providers to make amendments. To date, 13 responsible entities or trustees ...

SMSF auditors in firing line

ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
... conditions to the registration of, a number of auditors of SMSFs," the regulator said. "The actions arose following ASIC concerns about failures to meet requirements including independence standards and auditing standards, failing to comply with Continuing ...

ASIC reviews One Big Switch, bans adviser

DARREN SNYDER  |  TUESDAY, 30 JUN 2015
... 74,000 consumers sign up. However the company did not hold an Australian financial services (AFS) licence. Following ASIC concerns, the company applied for an AFS licence. Kemp Strang Lawyers will undertake a further review of One Big Switch and report ...

Misleading PDS costs NAB $10,200

LAURA MILLAN  |  WEDNESDAY, 1 OCT 2014
... investment. NAB published this misleading information for over a year, between June 2013 and August 2014, until ASIC concerns forced the bank to issue a new PDS and new promotional materials. This is the second ASIC penalty that NAB has paid in less ...

ASIC to renew focus on misleading advertising

LAURA MILLAN  |  THURSDAY, 31 JUL 2014
... said. Industry Super Australia (ISA) recently changed the latest campaign of 'Compare the pair' advertisements over ASIC concerns that they were misleading to consumers. ASIC took 48 different actions within financial services, including five criminal ...

CBA unveils tougher adviser standards

LAURA MILLAN  |  MONDAY, 14 JUL 2014
... failures do occur, more likely to be detected and addressed in a timely and effective manner," the report says. But ASIC concerns that CFPL's breach reporting continues to be deficient "casts serious doubts about whether the desired changes have taken ...

Anne Street SMSF advice falls under ASIC radar

LAURA MILLAN  |  THURSDAY, 5 SEP 2013
... an independent expert who will review, assess, make recommendations and report to ASIC over the next 18 months. ASIC concerns related to the low balance with which SMSFs were established and the advice not being sufficiently tailored to the needs of ...

Yellow Brick Road amends staff authorisations after ASIC concerns

MARK SMITH  |  FRIDAY, 26 JUL 2013
Yellow Brick Road (YBR) has changed the way it authorises companies and individuals to offer loan advice following concerns from the regulator. YBR has directly authorised more than 100 people working in its branches as credit representatives. However ...

ASIC cancels South Australian financial services licence

CLAIRE MCGREAL  |  THURSDAY, 17 NOV 2011
... about the conduct of any of these authorised representatives. Mark Raymund Power's licence was also cancelled due to ASIC concerns he wouldn't comply with his obligations as a financial services licensee. The commission was also concerned that Power ...

Motor Finance Wizard withdraws interest-free loans

ASIC RELEASE  |  MONDAY, 2 AUG 2010
... Wizard, famous for its "Motor Finance Wizard said yes!" ads about interest-free loans, withdrew its ads following ASIC concerns they were misleading and provided some clients with "unaffordable credit". In 2007, ASIC raised concerns with PR Finance Group ...
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