ASIC dishes out $100k in fines for unregistered advisers - Financial Newswire

ASIC dishes out $100k in fines for unregistered advisers - Financial Newswire

The financial services watchdog has issued nearly $100,000 in fines to three Australian advice firms for providing personal advice through unregistered advisers. The two Queensland-based advisory firms, Australian Advice Network and Sherrin Partners Services, and one NSW-based firm, IA Advice, last month paid out $31,300 in fines that were issued by the Australian Securities and Investment Commission (ASIC). Whilst acknowledging that payment of …

Three licensees cop enforcement action

ASIC has taken punitive action against three Australian financial services licence holders for allowing unregistered authorised representatives to provide personal financial advice.

Three Firms Face $31,000 ASIC Penalty

ASIC has issued infringement notices to three AFS licensees whose financial advisers provided personal advice while unregistered. Each paid an infringement notice penalty of $31,300 in March, with ASIC stating payment is not an admission of guilt or liability. They are named by ASIC as: Australian Advice Network Pty Ltd IA Advice Pty Ltd Sherrin […]