Regulatory Alerts2025-12-19
Federal Court orders $925,000 in penalties against RM Capital and SMSF Club for conflicted remuneration breaches
ASIC Deputy Chair Sarah Court announced that the Federal Court has ordered RM Capital Pty Ltd to pay a $575,000 penalty and its authorised representative, The SMSF Club Pty Ltd, to pay a $350,000 penalty for accepting conflicted remuneration. The Court found that RM Capital failed to take reasonable steps to prevent SMSF Club from accepting $135,863.65 in referral fees from a real estate agent between 2014 and 2016, breaching section 963F of the Corporations Act. As part of the judgment, both entities must provide ASIC with independent expert reports within six months confirming they have appropriate systems to ensure compliance with conflicted remuneration provisions.
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