ASIC cancels registration of Victorian auditor LeapRate

May 28, 2018 BY Valentina Kirilova

ASIC cancels registration of Victorian auditor

The Australian Securities and Investments Commission (ASIC) has just announced that it has cancelled the registration of Victorian auditor, Philip James Dowsley, as a registered company auditor. Mr Dowsley requested the cancellation during the course of proceedings brought by ASIC before the Companies Auditors Disciplinary Board (CADB). The cancellation took effect on 31 March 2018. ASIC…

May 17, 2018 BY Valentina Kirilova

ASIC permanently bans financial adviser

The Australian Securities and Investments Commission (ASIC) announced that it has permanently banned financial adviser Ezzat-Daniel Nesseim from providing financial services. ASIC found that Mr Nesseim engaged in misleading and deceptive conduct, that he was not of good fame or character, and that he was likely to contravene a financial services law. In the course…

May 15, 2018 BY Valentina Kirilova

ASIC consults on code of ethics compliance schemes for financial advisers

The Australian Securities and Investments Commission (ASIC) announced that it has released a consultation paper outlining its proposed approach to approving and overseeing compliance schemes for financial advisers. Incoming training and education requirements for financial advisers include obligations to comply with a code of ethics that is being developed by the Financial Adviser Standards and…

May 02, 2018 BY Valentina Kirilova

Australian regulator cancels Mackellar's AFS license

The Australian Securities and Investments Commission (ASIC) has announced that it cancelled the Australian Financial Services (AFS) license of NSW-based Mackellar Financial Services Pty Ltd (Mackellar). Mackellar's AFS license has been cancelled, following a suspension in October 2017, for continued failure to lodge financial statements and auditor's reports for a period of four years. Licensees…

March 22, 2018 BY Valentina Kirilova

Directors of Storm Financial disqualified for breach of duties

The Australian Securities and Investments Commission (ASIC) has informed the public that the Federal Court has imposed civil penalties of $70,000 each on the directors of Storm Financial, Emmanuel and Julie Cassimatis, who were previously found by the Court to have breached their duties as directors. They were also disqualified from managing corporations for 7…

March 16, 2018 BY Valentina Kirilova

ASIC charges company director with fraud

The Australian Securities and Investments Commission (ASIC) has informed the public that it has charged Mr Farmouz Farhaad Mohammed, who is also known as Fred Mohammed, of Hope Island, Queensland with three counts of fraud under the Criminal Code (Queensland). Mr Mohammed appeared before the Richlands Magistrates Court on 12 March 2018. ASIC alleges that…

March 14, 2018 BY Valentina Kirilova

ASIC suspends Corpac Partners' AFS license

The Australian Securities and Investments Commission (ASIC) has informed the public that it has suspended the Australian financial services (AFS) license of NSW-based Corpac Partners Pty Limited (Corpac Partners) from 28 February 2018 for failing to lodge financial statements and auditor's reports for a period of four years. This failure is in breach of both…

February 26, 2018 BY Valentina Kirilova

ASIC bans former Westpac and NAB financial adviser

The Australian Securities and Investments Commission (ASIC) announced that it has banned Brisbane based financial adviser Christopher Ramsay from providing financial services for a period of five years for failing to act in the best interests of his clients, and giving advice that was not appropriate. ASIC found that Mr Ramsay failed in his obligations…

February 23, 2018 BY Valentina Kirilova

ASIC bans financial adviser for 5 years

The Australian Securities and Investments Commission (ASIC) announced that it has banned Perth-based financial adviser Philip Leake from providing financial services for a period of five years. ASIC found that Mr Leake failed to act in his clients' best interests when providing advice on life insurance. ASIC's surveillance of Mr Leake found that he had…

February 13, 2018 BY Valentina Kirilova

New professional standards for financial advisers now available on ASIC website

The Australian Securities and Investments Commission (ASIC) announced that it has created a new section on its website to help financial advisers navigate the incoming professional standards requirements. The new requirements are aimed at lifting the education, training and ethical standards in the financial advice sector. ASIC’s website now provides an overview of the new…

Tag: Australian Securities and Investments Commission