Media Release

ASIC commences civil penalty proceeding against Westpac for poor financial advice

ASIC commences civil penalty proceeding against Westpac for poor financial advice

ASIC has commenced proceedings in the Federal Court of Australia against Westpac Banking Corporation in relation to alleged poor financial advice provided by one of its former financial planners, Mr Sudhir Sinha.

ASIC permanently bans former NAB financial adviser

ASIC permanently bans former NAB financial adviser

ASIC has permanently banned Mr Max Kiattisak Eung (also known as Kiattisak Eungpongpan), of Tempe, New South Wales from providing financial services and engaging in credit activities.

MEDIA RELEASE: How To Check You Financial Advisors Credentials

Banking Royal Commission wastes no time to highlight extend of problems with banking and the advice sector. 

MEDIA RELEASE: Royal commission not the answer to recovering lost investments

MEDIA RELEASE: Royal commission not the answer to recovering lost investments

The Turnbull government’s Royal Commission is putting the financial services industry under the spotlight, with many people wondering what to do if they have been a victim of bad financial advice. 

MEDIA RELEASE: What To Expect From Your Financial Planner

MEDIA RELEASE: What To Expect From Your Financial Planner

With the Royal Commission into the banking sector confirmed, it’s refreshing to know some financial industry professionals still put their clients’ interests first.

ASIC bans Victorian financial adviser for three years

ASIC bans Victorian financial adviser for three years

The Australian Securities and Investments Commission (ASIC) has banned financial adviser Julie Hamilton from providing financial services for three years for failing to act in her clients' best interests.

Red Flags For Bad Advice

Red Flags For Bad Advice

The introduction of the Best Interest Duty in 2013 as part of the Future of Financial Planning reforms (FoFA) stipulates that financial planners must act in the best interest of their clients.  While the Best Interest Duty has had an overwhelmingly positive effect, there are still a number of financial advisers being reported by ASIC who have not been compliant, and consumers should be aware of what to look out for to avoid these rogue financial advisers.

Enforceable undertaking excludes Queensland financial adviser for five years

Enforceable undertaking excludes Queensland financial adviser for five years

ASIC has accepted an enforceable undertaking (EU) from former Hart Ensole Pty Ltd representative, Dean Hartmann, after it was found that he failed to meet his financial advice obligations when dealing with his clients.

WARNING! Potential SMSF Investors At Risk

WARNING! Potential SMSF Investors At Risk

Self-Managed Super Fund (SMSF) investors need to be made aware of a scheme that is being promoted across the country. Investors are being advised to borrow to buy off-the-plan property, misleadingly offering high rewards and promising little to no risk.  For many, this has ended in unnecessary financial losses.

EXPOSÉ: This Year’s Biggest Investment Scam

EXPOSÉ: This Year’s Biggest Investment Scam

 

Over the last few years there has been a steep increase in the number of people being poorly advised to put their retirement savings into a Self-Managed Super Fund (SMSF) and then borrow to invest into off–the-plan property.