ASIC

Policy & Regulation

ASIC concerned about investment funds consolidation

Australian Securities and Investments Commission chairman, James Shipton, has pointed to regulatory concerns about the consolidation of investment funds and the consequen...

Financial planning

Qld adviser banned for seven years

The Australian Securities and Investments Commission has banned Beenleigh-based adviser, Ian Haisman, from providing financial services for seven years....

Financial planning

Is ASIC best interests project driving up advice costs?

A little talked about Australian Securities and Investments Commission project around the adviser best interests duty has been identified as substantially increasing red ...

Financial planning

Ex-NAB adviser sentenced to corrections order

Max Kiattisak Eung has been sentenced to jail after pleading guilty to obtaining financial advantage by deception of $166,500....

Life/Risk

CommInsure charged over unsolicited calls

CommInsure has been charged by the Australian Securities and Investments Commission for offering to sell life insurance products via non-compliant unsolicited phone calls...

Features

Waiting for an ASIC outcome

Laura Dew explores how the managed account space could change in the future as the industry awaits the conclusion of an ASIC review of the sector....

Policy & Regulation

ASIC urges companies improve compliance risk management

The Australian Securities and Investments Commission has urged a ‘sense of urgency’ be applied by companies to their non-financial risks, including compliance risk. ...

Policy & Regulation

Gov consultation on funeral expenses policies

The Federal Government is consulting on draft regulations and legislation to remove the Corporations Act exemption for funeral insurance policies....

Financial planning

Grandfathering removal a policy 'black hole' says AFA

The Association of Financial Advisers has called for the release of key consultation submissions and for greater clarity around the detail of the Government’s legislation...

Financial planning

Adviser given investment commissions banned

ASIC said Kyle Marshall did not understanding the meaning of personal advice and did not act in his clients’ best interest....

Financial planning

AFA recommends limited adviser role for TPB

The Association of Financial Advisers has recommended a limited advisory role for the Tax Practitioners Board in the advice space while, at the same time, pointing to maj...

Policy & Regulation

Who ASIC chose to receive penalty millions

A key document tabled after questioning by a Parliamentary Committee has revealed who the major beneficiaries were of the millions of dollars extracted by the Australian ...

Features

InFocus: Asset-based fees – utilitarian or inappropriate?

Mike Taylor writes that while the critics of asset-based fees paint them as being as inappropriate as commissions, the commercial evidence suggests their use fills an imp...

Policy & Regulation

If they don’t ask, don’t try and sell says AFCA

The Australian Financial Complaints Authority has called for a radical escalation of the proposed prohibition on unsolicited telephone sales, urging a ban on all unsolici...

Policy & Regulation

ASIC/APRA/ATO need to be audited on value for money

The major financial services regulators need to be comprehensively audited to ensure they are actually delivering value for money in the work that they do reflecting the ...