In the media ASIC bans Perth advisor for five years ASIC – 23 February 2018 – The Australian Securities and Investments Commission (ASIC) has banned Perth-based financial adviser Philip Leake from providing financial services for a period of five … Read More
In one weekend earlier this year, the world was subject to an “unprecedented” cyber-attack which is reported to have affected approximately 200,000 users in 150 countries. The “WannaCry” attack combined ransomware with a worm virus and spread quickly. Victim’s systems … Read More
ASIC has cancelled the financial services licence of financial and business advisory firm Financial Stewards after it failed to comply with surveillance notices issued by the corporate regulator. In a statement, the regulator said it issued two compulsory notices to … Read More
An advice group has finalised improvements to its advice processes recommended by an independent expert, following an ASIC investigation that revealed it did not have sufficient resources to carry out its legal obligations as a financial services licence holder. In … Read More
The corporate regulator has announced the members of its new Financial Services and Credit Panel (FSCP), which will assist in peer reviewing administrative decisions relating to the sector. In a statement, ASIC said the new members of the panel would … Read More
The former director and the former chief operating officer of a subsidiary of the publicly listed company Hastie Group Pty Limited (in external administration) have both been charged with three counts of conspiracy to falsify accounts. Mr Joseph Carmec Farrugia, … Read More
The former Principal of Sherwin Financial Planners Pty Ltd and Chairman of Wickham Securities Ltd, Bradley Thomas Sherwin, was sentenced in the Brisbane District Court today to a total of 10 years imprisonment on 25 charges, brought by the Commonwealth … Read More
The Australian Securities and Investments Commission (ASIC) has banned financial adviser Drew Grosskreutz from providing financial services for three years. ASIC found that Mr Grosskreutz advised clients to establish self-managed superannuation funds (SMSF) to purchase properties using a limited recourse … Read More
Continuing Federal Government reforms of the financial services sector will see the end of separate external dispute resolution forums, with the introduction of a one-stop shop for all financial disputes in mid-2018. In the 2017 Federal Budget, the Government flagged … Read More
ASIC has today released its enforcement report for the period 1 January 2017 to 30 June 2017, and they sure have been busy ! The enforcement outcomes over that six-month period include: Magnifying Glass Magnifying Tick Exit Door Compensation Prosecutions … Read More
