The Southport Magistrates Court in Queensland has imposed a $70,000 penalty over a breach of anti-hawking laws following an investigation by the Australian Securities and Investments Commission (ASIC).

ASIC says National Advice Solutions, which pleaded guilty to one charge of breaching the laws, made unsolicited calls to consumers between August 2019 and June 2020 encouraging them to roll over their super. The company then charged an initial fee for the rollover into the new super products and ongoing fees.

The charges were bought under previous anti-hawking provisions. Tougher reforms were introduced on October 5 2021 after the Hayne royal commission.

“Reforms to the anti-hawking regime were in response to clear consumer harm when it came to the unsolicited calls involving financial products,” ASIC Deputy Chair Sarah Court said.

“ASIC strongly advocated for these reforms and will continue to pursue action in the courts where we see a disregard for these laws.”

In December, ASIC cancelled the Australian Financial Services Licence of National Advice Solutions and banned two Gold Coast-based responsible managers, Gail Glasby and Paul Carcallas, from providing financial services for 10 years.