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Regulatory

SMSF adviser escapes jail time with suspended sentence

BEN COLLINS  |  FRIDAY, 22 FEB 2013
A former self-managed superannuation adviser was yesterday sentenced to a suspended year and a half in jail after he tricked clients into buying his own shares.

ASIC slaps biggest fine ever

BEN COLLINS  |  FRIDAY, 22 FEB 2013
Financial services watchdog ASIC has handed out a record fine of $500k to a man who ran a $30 million scam targeting SMSFs.

Industry groups join forces to mount super campaign

BEN COLLINS  |  THURSDAY, 21 FEB 2013
Industry groups have warned politicians to guarantee that no further changes will be made to superannuation.

Co-operation key to avoiding pain from ASIC

MARK SMITH  |  THURSDAY, 21 FEB 2013
Financial services firms who come under fire from the Australian Securities and Investments Commission (ASIC) are better off working with the regulator than prepare for a legal battle, according to a law firm specialising in the area.

Industry urged to understand changes to transfer rules

BEN COLLINS  |  THURSDAY, 14 FEB 2013
Industry professionals have been told they need to ensure they understand incoming regulation that makes it harder to transfer listed assets into self managed super funds.

FoFA anxiety remains high: FPA

BEN COLLINS  |  TUESDAY, 12 FEB 2013
Compliance and the cost of regulation are the main concerns for financial planning businesses in the current environment, said the Financial Planning Association after a survey.

Serpentine fire

BENJAMIN ONG  |  MONDAY, 11 FEB 2013
Almost two months in and thus far you, I and Irene have had a happy new year... will we also have a "gung hei fat choi"?

Rum outcome for Bundy: ASIC suspend license

MARK SMITH  |  FRIDAY, 8 FEB 2013
A day after a Western Australian credit broker had his license revoked for breaking the law, the industry body has banned Harold Charles Bundy for three years after it found he was not a fit and proper person to engage in credit activities.

ASIC cancels national planning firm's license

MARK SMITH  |  THURSDAY, 7 FEB 2013
National financial planning business AAA Financial Intelligence has had its license revoked by the Australian Securities and Investments Commission (ASIC) after it had 'comprehensively and repeatedly' failed to comply with the Corporations Act 2001 ...

Insurance broker pleads guilty to theft

MARK SMITH  |  TUESDAY, 5 FEB 2013
Insurance broker Bruce Wickett pleaded guilty to stealing close to $700,000 of clients' money over a seven month period.