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Audit inquiry overlooks vertical integration
KARREN VERGARA  |  THURSDAY, 12 NOV 2020
An inquiry into the quality of audits has fallen short of recommending the breakup of the largest four vertically integrated accounting firms in a bid to combat conflicts of interest.
Fake tax agent penalised
ANNABELLE DICKSON  |  WEDNESDAY, 11 NOV 2020
The Federal Court of Australia has fined a woman $40,000 for providing illegitimate tax agent services for four years.
Financial services complaints rise
ELIZA BAVIN  |  MONDAY, 9 NOV 2020
Complaints made about financial services have almost doubled since last year, according to the Australian Financial Complaints Authority (AFCA).
Three advisers banned for non-financial crimes
ELIZABETH MCARTHUR  |  FRIDAY, 6 NOV 2020
The UK's Financial Conduct Authority (FCA) has banned three people from working in financial services due to sex offences they had committed.
Former advisers face huge fines
ELIZABETH MCARTHUR  |  FRIDAY, 6 NOV 2020
A former Macquarie and Crestone financial adviser could be facing $1 million in fines, while the other has been fined $30,000 in a busy week for ASIC.
Westpac settles two class actions
KARREN VERGARA  |  FRIDAY, 30 OCT 2020
Westpac has agreed to settle two separate class actions relating to anti-money laundering breaches and rate rigging initiated in the US for undisclosed amounts.
SMSF fraudster charged
ANNABELLE DICKSON  |  THURSDAY, 29 OCT 2020
A Brisbane man has been found guilty in the District Court of six counts of fraud in obtaining funds from SMSF investors.
ASIC's Chester spills Crennan truth
ANNABELLE DICKSON  |  WEDNESDAY, 28 OCT 2020
ASIC deputy chair Karen Chester brought to light discrepancies in Daniel Crennan's resignation statement in front of a senate hearing, clarifying the dates that he found out about the issues that led to his resignation.
Financial crime victims fume at Shipton, Crennan
ELIZABETH MCARTHUR  |  WEDNESDAY, 28 OCT 2020
The Victims of Financial Fraud (VOFF) group have written to senators slamming ASIC chair James Shipton for ignoring their requests for help but finding "time to submerge his own head in the trough allegedly at taxpayer expense".
Federal Court freezes investment scam, winds up SMSF operator
ANNABELLE DICKSON  |  TUESDAY, 27 OCT 2020
The Federal Court has frozen the funds of a suspected investment scammer and ordered the winding up of two unlicensed financial services businesses, upon referral from the Australian Securities and Investments Commission (ASIC).
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