News : Compliance & Regulation

ASIC, Auditing, Compliance & Regulation

More SMSF auditors disciplined

ASIC, Australian Securities and Investments Commission, SMSF auditors, audit

ASIC moved against 28 approved SMSF auditors between January and June this year, bringing the total of these actions to 48 for 2024/25.

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ASIC, Compliance & Regulation, Superannuation

Super system needs strengthening

The corporate regulator is worried bad actors, sometimes using SMSF structures, could undermine trust in Australia’s superannuation system.

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Compliance & Regulation

Court hands down Mayfair 101 decision

ASIC, Federal Court, Mayfair 101, James Mawhinney, contraventions, Rhys Roberts, Roberts Gray Lawyers

The Federal Court has ruled against Mayfair 101 Group director James Mawhinney in several allegations made by ASIC with regard to the organisation’s conduct.

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Compliance & Regulation, SMSF

Disqualifications can be overturned

A recent AAT decision has shown a trustee disqualification can be challenged successfully if the right set of circumstances can be established.

A recent AAT decision has shown a trustee disqualification can be challenged successfully if the right set of circumstances can be established.

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ATO, Compliance & Regulation

Onus on trustees for benefits access

superannuation benefits, condition of release, early access, SMSF trustee, illegal access, administrative penalties, disqualification, voluntary disclosure, non-lodgement, SMSF annual return, self managed superannuation, self managed super, SMSF

The ATO has warned trustees they will be held accountable for members who access super without meeting a legitimate condition of release.

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ATO, Compliance & Regulation, Trusts

Family SMSFs must ponder disqualification

Individuals should consider the implications a serious compliance breach will have before including family members as SMSF trustees.

Individuals should consider the implications a serious compliance breach will have before including family members as SMSF trustees.

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Administration, ASIC, Compliance & Regulation, SMSF, Superannuation

Thousands of online scammers wiped out

The latest corporate regulator update revealed its enforcement actions shut down 10,000 websites and promotional activities in 2024..

The latest corporate regulator update revealed its enforcement actions shut down 10,000 websites and promotional activities in 2024.

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Compliance & Regulation, SMSF

Coercive control an SMSF problem

Coercive control, domestic violence, SMSF, SMSFA, Tracey Scotchbrook, Parliamentary Joint Committee, ATO, SMSF Association National Conference 2025

SMSFs have been identified as a financial structure that perpetrators of domestic violence and coercive control can use to their advantage.

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Compliance & Regulation, Investments

AFCA ruling threatens SMSFs

Australian Financial Complaints Authority, AFCA, wholesale investor, SMSF trustees, superannuation product, asset threshold, SMSF Association, Peter Burgess

A significant number of SMSF trustees may be adversely affected by a recent AFCA determination regarding the wholesale investor definition.

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Auditing, Compliance & Regulation

Rectified breaches still require an ACR

SMSF, Self-managed super, auditor contravention report, ACR, Accurium, Anthony Cullen, Seamless SMSF, Frank La Spada, compliance breach rectification

An SMSF compliance breach that has been rectified in the year in which it occurred will still have to have an ACR lodged for it with the ATO.

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