ASIC unveils ‘targeted surveillance’ plans for licensing

ASIC deputy commissioner Greg Tanzer told the CPA National SMSF Conference that ASIC will be visiting small groups of accountants in each state to understand how they’re operating.
“We’re going to conduct targeted surveillance on some licensed accountants to assess whether they’re meeting their ongoing obligations when giving financial product advice in relation to SMSFs. We’re going to seek in particular to identify unlicensed conduct and to take appropriate action,” Mr Tanzer said at the conference yesterday.