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Regulatory

ASIC bans unlicensed Sydney adviser

LINDA HAUSKEN  |  THURSDAY, 12 JUL 2012
Australian Securities & Investments Commission has permanently banned Sydney based adviser Ropati Broederlow after it found he acted dishonestly and made false and misleading statements in relation to financial products.

Highly educated SMSF investors prime fraud targets

MELANIE TIMBRELL  |  TUESDAY, 10 JUL 2012
Australian men aged over 50, highly educated, financially literate and managing their own super are the most likely victims of organised investment fraud, according to a new report from the ACC.

ASIC uncovers investment scam

LINDA HAUSKEN  |  FRIDAY, 6 JUL 2012
The Australian Securities & Investments Commission has obtained court orders against the operators of a Gold Coast based unlicensed financial services business, following an investigation that resulted in 37 investors losing approximately $680,000.

Former adviser pleads guilty to dishonest dealings

LINDA HAUSKEN  |  TUESDAY, 3 JUL 2012
Former financial adviser Trevor Wayne Carll has pleaded guilty in Adelaide District Court to one count of deception and two counts of dishonest dealings with documents.

Super fund support for carbon tax

MELANIE TIMBRELL  |  MONDAY, 2 JUL 2012
The Australian Council of Super Investors has broadly supported the government's new carbon tax that came into effect yesterday, labelling it a practical policy measure that will address long-term investment risk for fund members.

Aust advisers to get dual Aust-NZ recognition

LINDA HAUSKEN  |  MONDAY, 2 JUL 2012
Australian Securities & Investments Commission has partnered with New Zealand's Financial Markets Authority to implement mutual recognition arrangements for Australian and New Zealand advisers.

Barclays fined $A451 million

BEN COLLINS  |  THURSDAY, 28 JUN 2012
UK bank Barclays will pay a record $A451 million in fines after it was found to have mislead authorities about the interest rate it was paying to borrow money from other banks.

Adviser pleads guilty to dishonest conduct

LINDA HAUSKEN  |  WEDNESDAY, 27 JUN 2012
Former financial adviser Susan Heathwood has pleaded guilty to dishonest conduct on two accounts by falsifying insurance applications in order to collect commissions.

NIIS development on track

LINDA HAUSKEN  |  TUESDAY, 26 JUN 2012
The advisory group established by the government following the Productivity Commission's inquiry into a National Disability and Insurance Scheme has endorsed the Gillard government' policy approach.

Cold calling scammer gets 10 year ban

LINDA HAUSKEN  |  TUESDAY, 26 JUN 2012
Australian Securities & Investments Commission has banned City Index Australasia and its director, Blair Jason Travers, from the financial services industry for 10 years after being found guilty of a cold calling scam.