Page 19 - Danielle Press News Today

A former Sydney financial adviser has been sentenced to six years’ imprisonment for misusing clients’ SMSF funds.

Date Time Former Sydney financial adviser sentenced to six years imprisonment Mr Ross Andrew Hopkins of Killara, NSW, has been sentenced in the District Court of New South Wales to a maximum period of six years’ imprisonment, with a non-parole period of four years. Following an ASIC investigation, Mr Hopkins, a former financial adviser, was convicted of 15 dishonesty offences under the Corporations Act, committed when he was the sole director of QWL Pty Ltd (QWL). Between 14 October 2016 and ...

New South Wales financial planner, Ross Hopkins, has been sentenced to a maximum period of six years’ imprisonment for 15 dishonesty offences.

ASIC concedes levy estimates were ‘badly wrong’ ASIC concedes levy estimates were ‘badly wrong’ The corporate regulator has taken responsibility for grossly underestimating the levy costs due to the advice sector in the 2020 year, but said the current system makes it “difficult” to reassure the industry that next year’s estimates will be any more accurate. A A Addressing the Stockbrokers and Financial Advisers Association 2021 Conference, ASIC commissioner Danielle Press acknowled...

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What changes will ASIC make from its affordability review? What changes will ASIC make from its affordability review? The corporate regulator has revealed details of how the industry responded to its most popular consultation to date, and what changes may be on the cards to simplify advice regulation. A A Addressing the Stockbrokers and Financial Advisers Association 2021 Conference, ASIC commissioner Danielle Press said the regulator had received almost 500 submissions over the course of its c...

ASIC’s hands tied on affordable advice ASIC’s hands tied on affordable advice ASIC commissioner Danielle Press has suggested a large number of the changes demanded by industry in the regulator’s affordable advice consultation were “above my pay grade”, indicating major action may not be taken to address advice accessibility until the government’s 2022 review. A A Addressing the Conference of Major Superannuation Funds on Wednesday, Danielle Press said the advice industry was “at ...

The Australian Securities and Investments Commission has confirmed it is closely monitoring the delivery of financial advice by superannuation funds against the terms of the High Court BT case decision.

Print The Australian Securities and Investments Commission (ASIC) has sent a message to superannuation fund trustees to properly discern the difference between general and personal advice, pointing to the recent Full Court decision impacting BT Funds Management. ASIC commissioner, Danielle Press has used an address to the Conference of Major Superannuation Funds (CMSF) in Adelaide today to confirm that the regulator was currently examining a number of funds to ensure that they were adhering to ...

Date Time GoGetta Equipment Funding to pay $750,000 court penalty for unlicensed consumer leasing The Federal Court has ordered GoGetta Equipment Funding Pty Ltd (GoGetta) pay a $750,000 penalty for engaging in unlicensed consumer leasing following proceedings commenced by ASIC in August 2020. ASIC alleged, and GoGetta admitted, that between 30 April 2015 and 21 December 2016: GoGetta entered into rental agreements with ten consumers who hired motor vehicles wholly or predominantly for a person...