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Licence suspended over indemnity insurance failure

ASIC has suspended an AFSL after it found the licensee did not have current professional indemnity insurance to cover breaches by its representatives, some of whom provide financial advice on superannuation.

Licence suspended over indemnity insurance failure
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In a public statement on 20 May 2016, ASIC said it had suspended the AFSL of Marigold Falconer International Limited until 31 May 2016, after the previous professional indemnity insurance policy held by Marigold Falconer expired at the end of February 2016.

Read the full story at SMSF Adviser.

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