ASIC welcomes the authorisation by the Minister for Revenue and Financial Services of the operator of the new single external dispute resolution (EDR) scheme for consumer and small business complaints: the Australian Financial Complaints Authority (AFCA). AFCA will be able to deal with complaints about financial firms including banks, credit providers, insurance companies and brokers, …
ASIC has disqualified Paul Tattersall, of Western Australia, from being an approved auditor of self-managed superannuation funds (SMSF) for breaching independence requirements. ASIC found that Mr Tattersall had breached the auditor-independence requirements of APES 110 Code of Ethics for Professional Accountants in auditing his own fund and the fund of an immediate family member. Mr …
ASIC disqualifies Western Australian SMSF auditor Read More »
ASIC has started legal action in the Federal Court in Melbourne to wind up companies associated with two land banking schemes operated in Victoria and to disqualify Michael Grochowski and Ian Edward Stephens from managing corporations. The two land banking schemes are known as: Hermitage Bendigo (formerly Acacia Banks ) located at Midland Highway, Bagshot, …
Mr Senen Pousa, of Byron Bay, was today sentenced in the Brisbane District Court on charges brought by ASIC. Mr Pousa was sentenced after earlier pleading guilty to one charge of aiding and abetting his company, Investment Intelligence Corporation (IIC), to carry on a financial services business without holding an Australian financial services (AFS) licence. …
NSW director sentenced to charges arising from unlicensed financial services business Read More »
Former Get Approved Finance broker Mr Peter Lachlan McDonald has appeared before the Perth Magistrates Court today charged with seven counts of giving false information and one fraud charge following an investigation by ASIC. ASIC alleges that, between January 2013 and April 2013, Mr McDonald, in the course of brokering four motor vehicle finance contracts, …
Former Perth finance broker pleads guilty to loan fraud Read More »
Following an ASIC investigation, Mr David Justin Burke, 59, of Natural Bridge in Queensland, appeared before the Brisbane Magistrates’ Court on 6 April 2018 charged with five counts of giving false or misleading information to ASIC during an examination under oath in March and June 2016. The examination of Mr Burke was part of an …
Queensland man charged with misleading ASIC investigation Read More »
ASIC today published an overview of its Small Business Strategy 2017-2020 and the progress achieved to date. Report 571 ASIC and small business (REP 571) explains ASIC’s Small Business Strategy and examines the ways in which ASIC assists, engages with and helps protect small business in Australia. It also provides key results for the period …
ASIC reports on Small Business Strategy 2017-2020 Read More »
Buddy Technologies Limited (Buddy) has written down the intangible assets of its consumer lighting business by $44.8 million in its financial report for the half-year ended 31 December 2021. ASIC reviewed Buddy’s financial report for the year ended 30 June 2021. As part of its financial reporting surveillance program, ASIC raised questions about Buddy’s consumer …
Buddy Technologies writes down intangible assets Read More »
ASIC has today published a report, Report 718: Response to submissions on CP 341 Review of the ePayments Code: Further consultation (REP 718), on updates to the ePayments Code (the Code). REP 718 follows the release in May 2021 of Consultation Paper 341 Review of the ePayments Code: Further consultation (CP 341), which sought feedback …
ASIC releases report on feedback in ePayments Code review Read More »
ASIC has disqualified former director Giocchino Volpes from Glenhaven, NSW, from managing corporations for four years after his involvement in two failed companies. Between 2016 and 2022, Mr Volpes was a director of two companies which operated in the automotive mechanical repair industry: PALS (NSW) Pty Ltd (A.C.N. 609 139 353); and Max Mobile Mechanics …
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