ASIC bans Sydney financial adviser

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Mr Vince Aloisi of Baulkham Hills, New South Wales, has been permanently banned from providing financial services by ASIC. ASIC’s action against Mr Aloisi follows its investigation into allegations of misconduct during his employment as an authorised representative with AMP Financial Planning Pty Limited from 1 January 2004 to 5 August 2009 and AMP GI

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ASIC recovers $24.5 million for Westpoint investors

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Westpoint investors in ASIC’s class against Glenhurst Corporation Pty Ltd (Glenhurst) are to receive their share of $24.5 million recovered to date by the Commission. The Glenhurst settlement, worth $2.5 million, is one of six reached by ASIC on behalf of investors in the Westpoint Group seeking compensation for their failed investments. The settlement will

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Abacus reviews advertising in response to ASIC’s concerns

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Abacus Australian Mutuals (Abacus) has reviewed its industry advertising campaign – ‘It all comes back to you’ – in response to ASIC concerns that consumers were at risk of being misled about the nature of the savings in the advertisements. The Abacus advertising campaign included representations, by way of a comparison with major banks, about

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ASIC reaches sixth Westpoint settlement

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ASIC has reached an agreement to settle its actions against Barzen Pty Ltd (formerly Dukes Financial Services Pty Ltd) and Mr Joseph Dukes (collectively ‘Dukes’), for $1 million. This settlement is subject to the approval of the Federal Court. Click here to download the document (pdf)

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