Resources allocated to SMSF licensing crackdown
ASIC has officially created a new project dedicated to focusing on accountants who have recently entered the financial advice industry following the new licensing requisites for SMSF advice. ASIC’s corporate plan for 2016-17 to 2019-20 notes that one of the regulator’s key focus areas will be accountants who are newly licensed. Unlicensed financial advice by accountants will also be a key area of surveillance.