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CASE INSIGHT

McDonald v AMP Financial Planning Pty Limited [2018] QSC 195

McDonald v AMP Financial Planning [2018] QSC 195 examines best interests duties, Records and Statements of Advice, adviser file documentation and when serious compliance failures can justify immediate termination of an authorised representative.
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CASE INSIGHT

D H Flinders Pty Ltd v Australian Financial Complaints Authority Limited [2020] NSWSC 1690

D H Flinders v AFCA [2020] NSWSC 1690 examines AFCA’s jurisdiction over authorised representative conduct, statutory licensee responsibility and procedural fairness, with important lessons for AFSL governance and supervision.
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CASE INSIGHT

AFCA Determination 12-25-303580

AFCA's bulk determination against MWL Financial Services Pty Ltd (In Liquidation) examines inappropriate superannuation switching advice involving Macquarie Super Manager II and the Shield Master Fund. AFCA found that recommendations relied on unreliable performance projections, exposed clients to inappropriate risk and caused compensable financial loss.
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CASE INSIGHT

AFCA Determination 12-25-304779

AFCA’s bulk determination against United Global Capital Pty Ltd (In Liquidation) examines inappropriate SMSF advice, highly concentrated investment in the First Guardian Master Fund, and failures to assess whether clients would be better off. AFCA awarded compensation across five complaints for losses caused by the advice.
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Step 1 of 8 - Your Role

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Assess your ASIC exposure

Answer a few targeted questions to identify where your compliance may not stand up under ASIC review.

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What best describes your role?