ASIC-NSG Court Case Highlights Advice Firm Dangers

November 23, 2017 imac legal 0 Comment

The result of ASIC’s first best interests duty court case is proof that advice firms must have processes that go beyond putting clients into products, a financial services lawyer has said.

In a recent LinkedIn article, imac Legal and Compliance principal lawyer Ian McDermott said the case between the corporate regulator and NSG Services Pty Ltd offers many “salient lessons for what not to do in an advice business”.

One of those relates to the need for advice firms to have robust processes.

Read the full article in IFA

IMPORTANT:

Any advice on this website is general only and should not be relied on as a substitute for legal advice tailored to your situation. imac legal & compliance pty ltd trades as imac legal and as imac compliance. We will always let you know beforehand whether we are acting as a law firm or as a compliance consultancy (and not as a law firm) for a particular matter. You have several rights and protections under the law when we act as a law firm.

Liability limited by a scheme approved under Professional Standards Legislation when providing legal services.

Location

Email

Phone

ASIC-NSG Court Case Highlights Advice Firm Dangers

IMPORTANT:

Site Map

Recent Posts

Simplifying the financial services laws – pipe

Cyber crime – coming to a financial

SOA Myths and Mistakes

Newsletter