Day: June 12, 2019

ASIC uses conflicted remuneration powers against SMSF advisers

On 7 June 2019 ASIC commenced civil penalty proceedings in the Federal Court against R M Capital Pty Ltd (RM Capital) and its authorised representative, The SMSF Club Pty Ltd (SMSF Club), in relation to accepting conflicted remuneration. ASIC alleges that SMSF Club advised its clients to set up self-managed superannuation funds (SMSFs) then use …

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