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Regulatory

ASIC takes action against RI Advice

ELIZABETH MCARTHUR  |  FRIDAY, 21 AUG 2020
ASIC has commenced proceedings in the Federal Court against RI Advice for failing to have adequate cyber security systems.

ASIC takes action against BTFM, Asgard, StatePlus

JAMIE WILLIAMSON  |  THURSDAY, 20 AUG 2020
ASIC has commenced Federal Court proceedings against BT Funds Management and Asgard over fee-for-no-service conduct and making misleading representations in relation to the fees. It has also launched a similar case against StatePlus.

ASIC cracks down on 42 SMSF auditors

ALLY SELBY  |  THURSDAY, 20 AUG 2020
The corporate watchdog has cancelled the registrations of 36 self-managed super fund auditors, while conditions have been imposed on a further six.

ASIC warns Indigenous Australians over scams

ANNABELLE DICKSON  |  WEDNESDAY, 19 AUG 2020
In light of the National Scams Awareness Week, the corporate regulator is urging Indigenous Australians to be wary of scams.

Ponzi scheme allegations levelled at Mayfair 101

ELIZABETH MCARTHUR  |  TUESDAY, 18 AUG 2020
In court documents, ASIC alleged that Mayfair 101's launch of Australian Property Bonds was a last ditch effort by the embattled wealth manager to set up a Ponzi-like scheme.

Tax fraud goes from paradise to prison

ANNABELLE DICKSON  |  TUESDAY, 18 AUG 2020
A key promoter of a tax evasion scheme who had been living in Vanuatu for several years to avoid arrest has been jailed for six years following a 19-year joint investigation by the ATO and Australian Federal Police.

ASIC winds up illegal land banking scheme

ALLY SELBY  |  MONDAY, 17 AUG 2020
The Federal Court has made orders to wind up an investment group which swindled 270 investors of more than $10 million in an illegal unregistered land banking scheme.

Catherine Brenner case dropped

ELIZABETH MCARTHUR, ANNABELLE DICKSON  |  TUESDAY, 11 AUG 2020
ASIC has confirmed that it notified former AMP chair Catherine Brenner that it will not be taking any further action against her.

Bendigo and Adelaide Bank to face fresh class action

ELIZABETH MCARTHUR  |  TUESDAY, 11 AUG 2020
Enrolments in a fresh class action against Bendigo and Adelaide Bank on behalf of investors in the Great Southern managed investment scheme are being finalised this week.

Brisbane broker permanently banned

ALLY SELBY  |  TUESDAY, 11 AUG 2020
ASIC has permanently banned a Brisbane-based broker from engaging in credit activities, after the corporate watchdog found he had falsified a letter of approval for a home loan.