ASIC has detailed to the Senate Economics Committee why it decided to pursue action against Dixon Advisory rather than the individual advisers involved in the wrongdoing.

Generation Development Group has announced it has entered into a binding agreement to acquire the remaining 61.9 per cent of Lonsec that it does not yet own.

Only two of the listed financial advice licensees have seen growth in their share price over the past year, half the volume in December 2023.

ASIC has cancelled the AFS licence of a Sydney wealth firm, the fifth Sydney firm to see a cancellation since the start of
the year.

AFCA has told the Senate Economics Committee that alleged losses from Dixon Advisory clients are an estimated $458 million while outlining the concerns it is observing in determinations.