Wealth & Private Banking regulatory updates from Australia.
Federal Court orders Australian Unity Funds Management to pay $7 million penalty for failing to confirm product suitability for investors
Brendan Gunn pleads guilty to dealing with money reasonably suspected of being proceeds of crime
ASIC acts against 28 SMSF auditors, flags increased scrutiny on in-house audit breaches
ASIC acts against ESG investment fund responsible entity alleging governance failures and misleading conduct
ASIC cancels Australian financial services licence of Velos Global Markets Pty Ltd
ASIC finds many auditors failing to demonstrate compliance with auditor independence obligations
ASIC bans former Lighthouse Partners director Timothy Archibald for 10 years for fees for no service conduct
ASIC cancels AFS licence of CPG Research & Advisory for ceasing business operations and unpaid industry funding levies
ASIC flags risks in offshore outsourcing after review identifies governance gaps
ASIC sends clear message to super trustees amid glaring retirement communications gaps
Federal Court orders remaining ALAMMC Group companies wound up
Two former Statewide Super executives acquitted on charges of dishonesty offences
Directors of Perth-based financial services company charged over five-year failure to lodge financial accounts with ASIC
ASIC halts offers of TruePillars Investment Trust
ASIC permanently bans Noel Northcott from the financial services industry
ASIC bans MWL financial adviser and investment committee member Wade Spooner for 8 years
Queensland director sentenced for making a false or misleading statement to ASIC
ASIC bans former UGC and MWL financial adviser Jovan Videkanic for 7 years
ASIC cancels licence of Wealth Trail Pty Ltd (In Liquidation)
Auditor of United Global Capital and related entities cancelled by Companies Auditors Disciplinary Board
ASIC secures interim court orders barring Ferras Merhi from financial services activities
ASIC bans former Crown Wealth Group director Brendan Rodwell for failing to report fees for no service conduct
Construction industry director charged with breach of director’s duties and providing false and misleading documents
ASIC statement - Clime entities
Perth fraudster Chris Marco sentenced to 14 years imprisonment
ASIC highlights financial reporting and audit findings for FY 2024–25 as part of expanded program of work
ASIC cancels AFS licence of Arrumar Private for licence failures
Charges against Dean Scook, former officer of Rock Mining Australia Limited, have been discontinued
Freezing orders against Gregory Cotton and First Mutual Private Equity continue
ASIC cancels AFS licence of Ricard Securities
Former CEO of AI marketing company Metigy pleads guilty to misleading investors and dishonestly using his position
A roadmap for capital markets to grow our economy
Prime Super pays ASIC infringement notice alleging misleading statements about tobacco investments
ASIC review raises fresh concerns over risks to retirement savings from poor SMSF advice
Mansa Group director sentenced to imprisonment for more than four years for forgery and dishonesty offences
ASIC takes action against MWL Financial Services, former director Nicholas Maikousis, and Imperial Capital Group Australia over alleged Shield advice failures
ASIC sues SQM Research alleging misleading reports related to Shield
ASIC sues Interprac over alleged Shield and First Guardian licensee failures
ASIC suspends AFS licence of Surety Compliance Limited
Infrabuild companies pay infringement notices for failing to lodge financial reports on time
ASIC suspends AFSL of Centurion Capital Limited
QLD shadow director charged with $8m debt factoring fraud involving Bunnings Warehouse
ASIC cancels AFS licence of Ivy League Capital
ASIC imposes additional conditions on Learn To Trade to address compliance failures
Super trustees urged to accelerate progress on retirement support for members
Banned SMSF Auditor charged with continuing to act whilst disqualified and falsifying documents
ASIC takes contempt action against David McWilliams and Laura Fullarton over alleged freezing order breaches
ASIC calls for feedback on stamp duty and portfolio holdings disclosure requirements for super funds
ASIC suspends AFS licence of Focused Financial Advice following failure to replace key person
ASIC calls on Australian companies to adopt better practices to protect whistleblowers
ASIC sues Diversa Trustees alleging failures relating to First Guardian
ASIC takes action against Adelaide-based Colin Oxlade and Spice Capital Partners over unlicensed financial services business
ASIC issues over $2.2 million in infringement notices to 12 large proprietary companies for alleged failure to lodge financial reports
ASIC suspends AFS licence of MW Planning Pty Ltd following failure to replace responsible manager
Former CEO of Bruck Textile Technologies has conviction overturned following appeal
ASIC renews guidance on managing conflicts of interest in financial services
Federal Court appoints receivers over the assets of Gregory Raymond Cotton and First Mutual Private Equity Pty Ltd
Netwealth admits to First Guardian failures and agrees to compensate affected members $100 million
ASIC cancels AFS licence of Rynco Pty Ltd
ASIC bans former MWL financial services adviser and former UGC Head of Advice Louis Van Coppenhagen for 7 years
Federal Court orders $925,000 in penalties against RM Capital and SMSF Club for conflicted remuneration breaches
Federal Court orders $250 million combined penalties against ANZ
ASIC sues BDO Audit and its director Dean Just alleging materially false or misleading audit reports
Directors of collapsed agri-businesses linked to corruption scandal disqualified for maximum 5-year period
Richard Ernest Auricht’s liquidator registration cancellation overturned on appeal, substituted with five-year suspension
Former financial advisor Anthony Torre sentenced to six years imprisonment for fraud and stealing
Former United Global Capital financial adviser Milutin Petrovic’s ban varied to three years
Media releases