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Henderson Piper Legal

Phone: +61 414 406 420

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08.01.2022 A Melbourne-based financial advice firm has been ordered to pay $1million penalty for breaches of the duty to act in its retail clients' best interests in relation to financial advice it provided on 8 occasions. The Court had found systemic deficiencies in the licensee’s processes and procedures. It highlights the importance for licensees to understand their obligations, implement appropriate processes and routinely review their compliance! http://asic.gov.au//17-365mr-financial-advice-firm-to-pay/