Skip to Primary Navigation

ASIC roundup: Large fines and warnings over rise in investment scams

Montage of the Australian arms Emu and Kangaroo emblem
GRIP Montage: ASIC/Getty Images

The Australian Securities and Investments Commission’s latest actions and news, August 6-20.

The Federal Court has declared that Netwealth Superannuation Services Pty Ltd and Netwealth Investments Limited contravened the Corporations Act regarding the First Guardian Master Fund.

Based on agreed facts and admissions, Justice McEvoy found Netwealth failed to obtain and assess sufficient information about First Guardian, failed to make sufficient independent

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience