ASIC levy

Financial planning

This relief would see the corporate regulator’s levy restored to its FY19 level of $1,142 per adviser for the next two years, while the flat per licensee charge would rem...

Policy & Regulation

ASIC agrees levy an issue but points to legislation as cause

The corporate watchdog has said it has been communicating with Government and Treasury about its funding model for three years but that they needed to be compliant with t...

Financial planning

ASIC levy to continue to fund litigation

The corporate watchdog has confirmed it will use 80% of its funding towards enforcement, supervision, and surveillance activities for financial year 2021-22....

Financial planning

Enforcement costs should be removed from ASIC levy

The Association of Financial Advisers has called for a permanent removal of enforcement costs along with costs associated with investigation and actions against unlicense...

Features

When practice management gets tough

Running a financial advice practice has never been harder, Jassmyn Goh writes, and advisers must find efficiencies and restructure their revenue sources to deliver their ...

Financial planning

Rise in financial advice costs ‘distressing’: Parliamentary committee chair

Many of the remaining Hayne Royal Commission recommendations will do nothing more than harm and damage ordinary Australian consumers, a member of a parliamentary committe...

Financial planning

Govt forcing advisers to be litigation funders: AFA

Indirect costs associated with the corporate watchdog’s levy has risen to $24.5 million and these costs are closely related to the increased spending on litigation fundin...

Financial planning

ASIC levy to push advisers to exit before end of financial year

The end of the financial year will see a greater loss in adviser numbers than usual from advisers wanting to avoid the next round of the ASIC levy....

Financial planning

ASIC levy increase due to declining adviser numbers

The cost of recovering additional funding by the Government along with the decrease in the number of advisers year-on-year has led to the corporate regulator’s licensee l...

Financial planning

Adviser takes ASIC levy complaint to Commonwealth Ombudsman

A veteran self-licensed financial adviser has sought hardship relief from the tripling of the Australian Securities and Investments Commission levy, outlining his complai...

Financial planning

ASIC says the levy is mechanical, Hume says ASIC has discretion

The cost of the Financial Adviser Standards and Ethics Authority functions may yet add to the ASIC levy paid by financial advisers....

Editorial

User-pays a costly and flawed model for ASIC funding

The increases in the Australian Securities and Investments Commission levy and the fact that they are occurring even before a single disciplinary body or a compensation s...

Financial planning

Call to impose an exit fee on big banks to pay ASIC levy

The Advisers Association is calling for the big banks who have exited wealth management to be charged a per-adviser exit tax to help defray the costs of the ASIC levy....

Financial planning

Planning and accounting groups unite against ASIC levy rise

Five planning and accounting groups have united to press the Government to override the Australian Securities and Investments Commission on its proposed levy increases ci...

Policy & Regulation

Should the industry be paying for ASIC’s policy advice to Govt?

The Australian Securities and Investments Commission is recouping millions of dollars from the industry to pay for the provision of policy advice to Government. Should th...