ASIC

Financial planning

Is ASIC in a ‘cold war’ against self-licensing?

With a quarter of AFSLs being held by single authorised representatives, is the rise of self-licensing and market fragmentation making it harder for ASIC to monitor the s...

Funds management

Sydney fund manager sees AFSL cancelled

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

Financial planning

How many AFSLs were cancelled in FY24?

ASIC has shared data on its licensing activity during the 2023–24 financial year, including how many were cancelled or suspended....

Financial planning

Sydney adviser banned by ASIC over conduct concerns

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

Financial planning

Victorian AFSL cancelled amid ASIC investigation

The AFSL of a Victorian firm authorised to provide financial product advice has been cancelled as the business is being wound up, and the firm is the subject of an ASIC i...

Financial planning

Reviewing ASIC’s Q3 advice enforcement activity

Money Management compiles ASIC’s enforcement action against financial advisers and licensees during the third quarter of 2024, including sentencing, bannings and FSCP act...

Funds management

How do you penalise a $14tn global investment giant?

Financial penalties are typically meant to act as a deterrent against misconduct but how does a court decide a suitable size when the company has over $14 trillion in ass...

Financial planning

Reportable situations relief extended for 5 years

ASIC will extend the relief and requirements regarding reportable situations regime for another five years until October 2029, following a public consultation....

Funds management

ASIC secures penalty for Vanguard over greenwashing claims

Vanguard has been issued with a penalty by the Federal Court for making false and misleading statements about its ethically conscious fund....

Funds management

How AFSLs can reduce advisers' compliance frustrations

ASIC chair Joe Longo has told compliance professionals they need an “attitude of compliance” beyond written policies, how can AFSLs achieve this without alienating their ...

Financial planning

Why did August’s adviser exam see a lower pass rate?

While the August financial advice exam saw a lower pass rate of 62 per cent compared with 70 per cent in previous sittings, this expert believes it’s for a positive reaso...

Financial planning

Banned Melbourne adviser sees order varied with jail threat

An alleged involvement with an insurance claims business has led the Federal Court to vary the orders of a banned adviser to add the threat of jail time....