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Regulatory

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.

ASIC slaps MWL adviser with ban over Shield involvement

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
ASIC has banned Wade Spooner of Melbourne for eight years for advising his clients to invest their superannuation into the Shield Master Fund while he was an authorised representative of MWL Financial Services.

ASIC issues interim stop orders to TruePillars

RIDDHIMA TALWANI  |  TUESDAY, 21 OCT 2025
ASIC has told private credit manager TruePillars to halt distribution of its product disclosure statements (PDSs) for two offerings.

Super risks continue as advice gets all clear

ELIZA BAVIN  |  FRIDAY, 17 OCT 2025
AFCA has released its systemic risk report, citing ongoing problems in the superannuation sector but said there were no systemic risks in the investments and advice space.

Federal Court dismisses Freedom Insurance staff allegations

KARREN VERGARA  |  FRIDAY, 17 OCT 2025
The Federal Court has dismissed ASIC's claims that a former Freedom Insurance director and staff member were engaged in shocking and harmful sales tactics.

ASX announces changes following independent review

ELIZA BAVIN  |  FRIDAY, 17 OCT 2025
The ASX will establish a new advisory board, with a recommendation that a "significant super fund chair or chief executive" be appointed.