From asic.gov.au: DOD Bookkeeping Pty Ltd, formerly known as Equiti Financial Services Pty Ltd, has been penalized $11,030,000 by the Federal Court for breaching conflicted remuneration rules and providing inadequate “cookie cutter” advice to clients regarding self-managed super funds.

The Court found that the firm’s advisers, influenced by bonuses tied to property purchases, failed to consider individual client circumstances, leading to poor financial outcomes.

ASIC cancelled Equiti FS’s financial services license in November 2024 due to these violations.