90% fail rate in ASIC's SMSF compliance swoop
The royal commission has heard nine in 10 SMSF professionals failed to comply with the Corporations Act for SMSF establishment advice, as part of a broader ASIC review of licensees and dealer groups.
As part of research set to be made public this year, ASIC will show fieldwork that indicates an overwhelming failure to comply with best interests duty and other associated obligations.
Read the full article on SMSF Adviser.
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