An advice AFSL has seen its licence cancelled by ASIC this month for failing to pay an AFCA determination, which was then covered by the CSLR.

ASIC commissioner Alan Kirkland says the problems regarding advisers recommending clients to invest in the troubled Shield Master Fund are far from being an “isolated incident”.

Insignia Financial has reached a major milestone in completing the separation of MLC Wealth from NAB, having acquired the firm back in 2021.

The Compensation Scheme of Last Resort says it has received over 200 claims for compensation relating to personal financial advice since its inception and detailed the specific recurring issues being raised by claimants.

FAAA chair David Sharpe says its members are ready to control their own professional standards via co-regulation as the organisation shares its five-year roadmap.