PIS points to ‘transformational strides’

Yesterday ASIC announced that the nine-month monitoring program at PIS, conducted by an external auditor, had come to an end, with the licensee found to be making progress in line with the corporate regulator’s wishes.

Commenting on the conclusion of the review, Centrepoint Alliance managing director John De Zwart issued a statement highlighting the “transformational strides” made in recent times.

“We are very pleased to announce the conclusion of Professional Investment Services’ ongoing monitoring program with ASIC,” Mr De Zwart said.

“This is another key milestone in the execution of the group’s strategy and most importantly, increasing the quality of financial advice Australians receive.”

The statement makes clear that “following the conclusion of the [review], neither PIS, nor any entity within the Centrepoint Group, have any regulatory actions underway or any non-standard ongoing licence conditions”.