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Regulatory

Crown Wealth director banned for two years

KARREN VERGARA  |  THURSDAY, 30 OCT 2025
ASIC has banned another former Crown Wealth Group staffer from working in the financial services industry for showing incompetence in addressing fees-for-no-service (FFNS) misconduct.

Tech concentration in super a major concern: APRA

ELIZA BAVIN  |  THURSDAY, 30 OCT 2025
APRA is reviewing trustees' material service providers as it develops a financial system-wide view of entities' reliance on third party providers and where concentration risks lie.

Housing Australia Future Fund under audit

ELIZA BAVIN  |  WEDNESDAY, 29 OCT 2025
The Housing Australia Future Fund, which has seen millions pledged by super funds, is being audited by the Australian National Audit Office.

James Mawhinney launches another appeal

JAMIE WILLIAMSON  |  TUESDAY, 28 OCT 2025
Mayfair 101 managing director James Mawhinney is appealing the Federal Court's decision to bar him from dealing in financial products for 15 years.

UGC auditor 'comprehensively failed', registration stripped

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
The man responsible for auditing United Global Capital and its two managed funds has had his company auditor registration torn up after he was found to have 'continuously failed to undertake basic audit work' that could have saved millions in SMSF investors' ...

Netwealth invokes Part 23 of SIS Act in First Guardian response

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
Netwealth has applied to the government for financial assistance under Part 23 of the Superannuation Industry (Supervision) Act 1993 in order to compensate members impacted by the First Guardian failure.

APRA updates governance framework

ELIZA BAVIN  |  FRIDAY, 24 OCT 2025
The prudential regulator said the changes came after it held 57 meetings and roundtables with more than 150 stakeholders

ASIC bans adviser attached to UGC, MWL

ELIZA BAVIN  |  THURSDAY, 23 OCT 2025
Another adviser who recommended clients put their money in the collapsed United Global Capital and Shield Master Fund has been banned by ASIC.

Complaints still too high: AFCA annual review

ANGELIQUE MINAS  |  THURSDAY, 23 OCT 2025
For the second year in a row, the national complaints body received over 100,000 complaints.

Adviser banned after $11.3m loss

ELIZA BAVIN  |  WEDNESDAY, 22 OCT 2025
ASIC said $11.3 million was lost while dozens of investors were sent false monthly performance statements stating their investments had increased.