ASIC-NSG Court Case Highlights Advice Firm Dangers

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

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ASIC-NSG Court Case Highlights Advice Firm Dangers

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