11+ hour, 20+ min ago   (879+ words) Effective from 4 September, Garry Crole was banned from performing as a director or responsible manager or any function involved in carrying on a financial services business, which ASIC said was a result of concerns related to his former roles as…...

3+ day, 11+ hour ago   (513+ words) Shane Monte Silva, formerly an authorised representative of FSGA and financial adviser at AS Financial Planning Pty Ltd, was initially banned by the regulator on 10 December 2025 after finding he had contravened financial services laws when providing superannuation switching advice to…...

4+ day, 14+ hour ago   (493+ words) ASIC is looking closely at super trustees in the wake of Shield and First Guardian which means advisers should expect greater scrutiny when it comes to clients paying for advice out of their super, according to Joel Ronchi, chief executive…...

6+ day, 11+ hour ago   (600+ words) Garry Crole has been banned by the regulator for 10 years from performing as a director or responsible manager or any function involved in carrying on a financial services business, effective from 4 September. ASIC said the ban is the result of…...

6+ day, 12+ hour ago   (1040+ words) This provision allows super trustees to seek financial assistance from the Financial Services mister to cover losses resulting from fraud. In this case, that related to the $240 million lost across 2,079 members connected to Diversa. In his opening statement, Diversa independent…...

1+ week, 4+ day ago   (1008+ words) Shield and First Guardian have dominated conversations across advice for at least the last 12 months after the funds collapsed and financial calamity ensued leaving investors’ retirement savings in the wind and financial advisers picking up the bill. Before that it…...

1+ week, 5+ day ago   (349+ words) On 29 June, ASIC moved to cancel Capital Guard’s Australian financial services (AFS) license and later applied to the Supreme Court of New South Wales to wind up Capital Guard AU Ltd and seek the appointment of an independent liquidator to…...

2+ week, 5+ day ago   (575+ words) The five priorities include: Focusing on the third point, ASIC will be paying particular attention to trustee deliver of fair and informed member services and trustee performance under the retirement income covenant. Sticking with the super focus, the regulator plans…...

3+ week, 4+ day ago   (477+ words) InterPrac initially filed the lawsuit against the Australian Financial Complaints Authority (AFCA) in February claiming a lack of ‘fairness’ in its approach to the Shield and First Guardian scandal. Garry Crole, the now former chief executive of parent company Sequoia…...

3+ week, 5+ day ago   (1010+ words) Announced at the FSC’s Shaping Advice summit, the association proposed through a whitepaper that the minimum ASIC levy fee per licensee should be lifted from a minimum of $1500 to $25,000, with the maximum fee for advisers being reduced from $2,300 to $1,700. This…...