The corporate regulator has pointed to a number of cases relating to the financial planning industry as examples of its “enforcement record” on breaches of the Corporations Act.
Responding to questions from the ABC’s Four Corners program about the Australia Federal Police’s referral of bribery allegations involving Securency International Pty Ltd and Note Printing Australia Limited , ASIC issued a document explaining why government and the general public should have “faith in ASIC’s commitment to enforcing breaches of the Corporations Act”.
In defending its record, ASIC highlighted its involvement in a number of regulatory matters in the financial services space, including the Trio Capital, Macquarie Equities, Storm Financial and Commonwealth Financial Planning affairs.
“Enforcement is fundamental to ASIC and our priorities of ensuring investors are confident and informed and that market integrity is maintained,” the document stated.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Jul 2018CPA shuts financial advice divisionBy Reporter
- 20 Jul 2018Don't neglect AI, advisers warnedBy Tim Stewart
- 19 Jul 2018AMP unveils new in-house training programBy Reporter
- 19 Jul 2018Self-licensed adviser cops 4-year ASIC banBy Reporter
- 19 Jul 2018Hub24 to launch new core offeringBy Reporter
- 19 Jul 2018SMSF sector warns about advice ‘exodus’By Miranda Brownlee
- view all