ASIC

Financial planning

ASIC has won an appeal against two Westpac subsidiaries that provided personal advice to customers that breached best interests duty....

Financial planning

Extra ASFL condition for IOOF Investment Services

ASIC has imposed additional conditions to improve governance and conflicts management after considering Royal Commission concerns....

Policy & Regulation

Serious fraud of $300,000 leads to permanent ASIC ban

A former Brisbane-based administrative employee at Fitzpatricks Private Wealth has been permanently banned by the Australian Securities and Investment Commission for seri...

Policy & Regulation

What happened to the complaining Royal Commission witnesses?

Twenty-six witnesses appeared before the Royal Commission but only three of them had previously raised their concerns with the Australian Securities and Investments Commi...

Financial planning

Robo-advice no panacea

Suggestions that robo-advice will be sufficient to meet the needs of those earning $80,000 are well off the mark, according to Investment Collective managing director, Da...

Funds management

Is there still value in the ‘buy now, pay later’ space?

Shares in ‘buy now, pay later’ providers have shot up in the past year but are investors too caught up in the hype?...

Policy & Regulation

ASIC challenged on ‘scary’ SMSF factsheet

A key parliamentary committee chairman has challenged the Australian Securities and Investments Commission on whether it was trying to scare people with its self-managed ...

Financial planning

CFS acts on adviser fees with its super funds

Advisers receiving Adviser Service Fees via Colonial First State’s superannuation funds are facing an early cut-off unless clients specifically opt in....

Financial planning

Remove general advice exemption urges FPA

The Financial Planning Association has strongly urged the removal of the general advice exemption for financial product issuers because it undermines best interests....

Policy & Regulation

ASIC joins forces with EU regulator on benchmarking

The Australian Securities and Investment Commission has signed a Memorandum of Understanding with the European Securities and Markets Authority regarding financial benchm...

Policy & Regulation

ASIC should withdraw its SMSF factsheet

The Australian Securities and Investments Commission’s SMSF factsheet contains ‘an array of seemingly deliberate inaccuracies’ and should be withdrawn, according to econo...

Financial planning

ASIC moves result in robo-advice tools shut down

Australian Securities and Investments Commission concerns about the adequacy of advice provided via robo tools has seen them voluntarily closed down....