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Showing 1 - 10 of 25 results for "FSCP"

FSCP deregisters adviser for two years

KARREN VERGARA  |  WEDNESDAY, 12 FEB 2025
... "incompetent" SMSF advice has been barred from practising in the industry for two years by the Financial Services and Credit Panel (FSCP). Glenn Paul Meilak helped clients set up SMSFs in a way that was "systemic" and "displayed a lack of care and a ...

FSCP orders adviser to undertake further education

KARREN VERGARA  |  WEDNESDAY, 5 FEB 2025
... failed to provide appropriate superannuation contribution advice has been ordered by the Financial Services and Credit Panel (FSCP) to undertake further education. The adviser, referred to as "Mr. D", provided advice that led to a client exceeding the ...

FSCP reprimands two advisers for sloppy tax advice

KARREN VERGARA  |  MONDAY, 16 DEC 2024
The Financial Services and Credit Panel (FSCP) reprimanded two financial advisers who each failed to provide a thorough assessment of their clients' tax liabilities. The first financial adviser, identified as only "Mr. C", was reprimanded for recommending ...

Treasury reappoints 24 members to FSCP

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
The Albanese government has reappointed 24 members to the Financial Services and Credit Panel (FSCP) for a three-year period beginning 1 January 2025. The candidates bring with them a range of knowledge and experience across the fields of business ...

Adviser suspended over wrongful use of ROAs

JAMIE WILLIAMSON  |  MONDAY, 25 NOV 2024
... Advice (ROAs) that relied on SOAs that were up to seven years old. This occurred in the case of three clients, ASIC said. The FSCP said the further advice exemption from giving an SOA did not apply to two of the three clients as their personal circumstances ...

Adviser numbers plateau

KARREN VERGARA  |  THURSDAY, 18 APR 2024
... banned/disqualification, enforceable undertaking, disqualified person, credit banned/disqualification, Financial Services Credit Panel (FSCP) action, and SMSF auditor disqualification. The advice sector continues to consolidate. AZ NGA-backed advice ...

FSCP issues another registration prohibition order

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
The Financial Services and Credit Panel (FSCP) made another registration prohibition order against a financial adviser who tried to recommend an SMSF and investment products that were not suitable to a client. Melbourne-based Stephen Rogers, a representative ...

FSCP serves up registration prohibition order

KARREN VERGARA  |  MONDAY, 11 DEC 2023
The Financial Services and Credit Panel (FSCP) has slapped a financial adviser with a "registration prohibition order" for being insolvent under administration. Timothy Leslie Anderson's registration as a relevant provider has been revoked from ...

FSCP issues slap on the wrist to adviser

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
... amount of life cover could not be transferred without further underwriting, he did not revisit the advice he provided, the FSCP said. Mr. K, instead, recommended in a Record of Advice (ROA) that the clients apportion their cover between the new and existing ...

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
... who carelessly recommended a client switch superannuation funds. Releasing its second determination since it launched, the FSCP said the unnamed adviser, only referred to as "Mr. M", recommended that a client move to a new superannuation fund after being ...
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