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Showing 1 - 10 of 3226 results for "Scheme"

ASIC bans former NextGen Financial Group directors

KARREN VERGARA  |  FRIDAY, 24 JUL 2026
... determinations left affected consumers out of pocket and ultimately resulted in compensation being paid through the Compensation Scheme of Last Resort (CSLR). Brookes' banning took effect on July 15. He is prohibited from controlling an entity carrying ...

FEATURE | Platforms | The investment supermarket

RIDDHIMA TALWANI  |  TUESDAY, 21 JUL 2026
Grab a shopping cart and enter the investment supermarket. The shelves are stacked - an Aussie large-cap fund here, an ETF there, a fixed-income fund somewhere near the back, past the alternatives nobody quite understands. There is an estimated $1 trillion ...

Prime Value licence suspended over reporting failures

VINNY VUCAGO  |  MONDAY, 20 JUL 2026
ASIC has suspended the Australian financial services licence (AFSL) of Prime Value Asset Management after the fund manager failure to meet its statutory audit and financial reporting obligations for two consecutive financial years. The corporate regulator ...

ASIC cancels AFSL of Australian Fiduciaries

RIDDHIMA TALWANI  |  FRIDAY, 17 JUL 2026
... Fiduciaries' inability to pay the amount determined by the Australian Financial Complaints Authority (AFCA). The Compensation Scheme of Last Resort (CSLR) then made a payment of $150,000 for the AFCA determination. "In making the cancellation order ...

FAAA warns adviser levies could exceed $5k as ASIC costs climb

VINNY VUCAGO  |  FRIDAY, 17 JUL 2026
... levies this financial year, with the Financial Advice Association Australia ( FAAA ) warning rising ASIC and Compensation Scheme of Last Resort (CSLR) cost are placing unsustainable pressure on small advice businesses. The industry body said the estimated ...

ASIC seeks to wind up Capital Guard AU

KARREN VERGARA  |  WEDNESDAY, 15 JUL 2026
... ASIC reports a "breakdown" of the company's governance and management but would not release names of the people behind the scheme. Capital Guard also failed to comply with a range of regulatory and reporting obligations. The company was run by sole director ...

First Mutual unregistered MIS wound up

KARREN VERGARA  |  WEDNESDAY, 15 JUL 2026
First Mutual Private Equity's (FMPE) unregistered managed investment scheme (MIS), which allegedly gambled $80 million of investor money, has been wound up by the Federal Court. Justice Button approved ASIC's application to facilitate the orderly ...

FAAA names new chair as David Sharpe prepares to step down

VINNY VUCAGO  |  WEDNESDAY, 15 JUL 2026
... more." Sharpe indicated his remaining four months will focus heavily on navigating challenges surrounding the Compensation Scheme of Last Resort (CSLR) and rebuilding adviser numbers. Abood also thanked Sharpe for his significant contribution to the ...

Federal Court lifts Merhi's travel ban

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... Keystone Asset Management directors and compliance committee members who put Australians' superannuation at risk by investing scheme funds in related entities and third parties without proper safeguards. Paul Chiodo, Ilya Frolov and Mark Yorston allegedly ...

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO  |  THURSDAY, 9 JUL 2026
... loopholes which shift costs of failed financial advice businesses onto the broader profession through the Compensation Scheme of Last Resort (CSLR) must be closed. In a submission to the Productivity Commission's inquiry into reducing barriers to business ...
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