Alan Kirkland

Funds management

Managed fund REs rapped by ASIC over compliance failures

The corporate regulator has uncovered widespread failings in the compliance frameworks of responsible entities overseeing nearly $1 trillion in managed funds, warning tha...

Financial planning

ASIC taking ‘significant action’ against super switching promotions

ASIC commissioner Alan Kirkland has described the problem of telemarketers encouraging people to switch their super as “the worst behaviour”, and one where the regulator ...

Financial planning

Will the QAR super requirement be as stringent as industry fears?

ASIC has told the Senate economics committee that it expects the requirement for superannuation trustees to check Statements of Advice won’t be “highly prescriptive” and ...

Financial planning

ASIC’s Kirkland clarifies SOA checking concerns

Despite fears under the first draft QAR bill, ASIC has confirmed that it does not expect superannuation trustees to check every Statement of Advice. ...

Financial planning

‘Licensee for hire’ Lanterne receives Federal Court penalty

The Federal Court has issued a seven-figure penalty against Lanterne Fund Services, a wholesale licensee which operated as a ‘licensee for hire’. ...

Financial planning

ASIC warns of civil penalties if advisers fail to register

ASIC commissioner, Alan Kirkland, has told Money Management that licensees and financial advisers could be in breach of the law and face civil penalties if they fail to m...

Financial planning

Timeshare industry is on notice: CHOICE

Consumer group CHOICE says the timeshare industry is now on notice following the Federal Court’s first-ever decision against a timeshare provider for failing to ensure fi...

Features

InFocus: Who should offer protection to investors?

The examples of failed managed investment schemes have reopened the question around the Government’s proposed model for a Compensation Scheme of Last Resort, writes Oksan...

Policy & Regulation

Consumer groups join industries bodies in CSLR opposition

Eight consumer groups have united with eight industry bodies in opposition to the compensation scheme of last resort (CSLR) legislation in its current form....

Financial planning

ANZ fails COVID fairness test

Australia’s Big Four banks have been rated on their COVID-19 responses by consumer advocate Choice, with ANZ performing the worst. ...

Policy & Regulation

No loopholes, no carve-outs insist coalition of consumer groups

A coalition of consumer groups has pointed to key changes to advice and life insurance resulting from the Royal Commission and insisted on no loopholes and no carve-outs....