ASIC has cancelled the AFSL of a Sydney-based financial advice firm, its first licence cancellation of the new year.

The release of ALRC’s final report into financial services legislation has highlighted financial advice as a “significant” focus as it seeks to reduce costs and help advisers understand their obligations, alongside the Quality of Advice Review.

SuperRatings has shared the top 10 balanced superannuation funds of the calendar year 2023, with the top two funds returning more than 13 per cent each.

A Queensland company falsely representing that it managed $6.9 billion for investors and was affiliated with the Financial Services Council has been penalised for false and misleading statements.

A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.