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Regulatory

ASIC releases guidance on super, retirement calculators

ANDREW MCKEAN  |  TUESDAY, 5 JUL 2022
ASIC has released guidance for superannuation calculators and retirement estimates, while also updating relief around how super funds can provide retirement estimates to members.

ASIC bans Melbourne adviser

CHLOE WALKER  |  FRIDAY, 1 JUL 2022
The corporate regulator has dealt out a three-year ban to David Noel Ruthenberg of Venture Advisory Consulting.

SEC fines UBS Financial Services over fraud charges

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
In the US, UBS Financial Services has agreed to pay US$25 million to settle fraud charges related to a complex options trading strategy it sold to investors without adequately educating their financial advisers on the product's risks.

ASIC takes Mercer Financial Advice to court

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
Mercer Financial Advice is being sued by ASIC over fee for no service conduct that continued after the Royal Commission and impacted members of both a corporate and government super fund.

ASIC urges market to improve outage resilience

CASSANDRA BALDINI  |  WEDNESDAY, 29 JUN 2022
ASIC is calling on market operators and participants to continue implementing and improving the resilience of the Australian equity market during outages.

Former adviser charged over faked books

CHLOE WALKER  |  TUESDAY, 28 JUN 2022
A former financial adviser has been charged with seven counts of alleged falsification of company books following an ASIC investigation.

ASIC obtains orders to freeze assets

ANDREW MCKEAN  |  TUESDAY, 28 JUN 2022
ASIC has obtained urgent interim orders from the Federal Court to freeze the assets of Ashley Vincent Arandez and four companies of which he is a director.

ASIC releases CCIV guidelines

CASSANDRA BALDINI  |  FRIDAY, 24 JUN 2022
ASIC has released long-awaited regulatory guidelines relating to the registration and licensing requirements for Corporate Collective Investment Vehicles ahead of its July 1 implementation date.

Corporate advisor charged over $2m theft

CASSANDRA BALDINI  |  WEDNESDAY, 22 JUN 2022
Former corporate advisor Anthony Torre has been charged after allegedly stealing almost $2 million from his clients.

Former adviser wins appeal, convictions quashed

JAMIE WILLIAMSON  |  MONDAY, 20 JUN 2022
A former adviser who was found guilty of fraud and sentenced to 12 years in prison in 2019 will have his case retried, having successfully argued there was a miscarriage of justice.