ASIC

Financial planning

Grandfathering – ASIC relied on sample-based data

The Australian Securities and Investments Commission has admitted that its earlier pronouncements on ending grandfathered commissions was based on sample-sized data....

Financial planning

ASIC looks to super funds as advice providers

The Australian Securities and Investments Commission has acknowledged the likelihood of an advice gap, particularly for lower income earners, but is looking to superannua...

Policy & Regulation

ASIC flags RC criminal charges

The Australian Securities and Investments Commission has flagged that there are at least two matters emanating from the Royal Commission which may result in criminal char...

Policy & Regulation

Super funds also exposed to ASIC search warrant powers

Superannuation funds will also be exposed to the Australian Securities and Investments Commission’s enhanced search warrant powers according to the explanatory materials ...

Policy & Regulation

Govt canvasses giving ASIC search warrant and phone tapping powers

The Federal Government has tabled exposure draft legislation which would give the Australian Securities and Investments Commission phone tapping and search warrant powers...

Financial planning

ASIC suspends Financial Options AFSL

The Queensland-based firm has until February 2020 to comply with outstanding obligations....

Financial planning

ASIC to appeal Westpac responsible lending decision

The corporate watchdog has appealed to the Federal Court against its decision that the bank did not breach the Credit Act....

People & Products

Herbert Smith Freehills appoints super expert

Ruth Stringer has been appointed by Herbert Smith Freehills to its Australian financial services team in Sydney....

Policy & Regulation

ASIC launches Federal Court action on life telephone sales

The Australian Securities and Investments Commission has launched civil action in the Federal Court over the telephone sale of life insurance which saw sales agents offer...

Features

Protecting financial consumers

Rather than an unwelcome compliance burden, the Design and Distribution Obligations and the ASIC Interventions Power can be a force for a better and more sustainable busi...

Features

InFocus: Ending grandfathering – who really wins?

Mike Taylor writes that in the absence of a definitive methodology for ensuring clients are rebated the grandfathered remuneration which would otherwise have gone to fina...

Financial planning

AFA advocacy pack urges a slow-down

Financial advisers have been provided with an advocacy pack aimed at convincing politicians to slow-down the rate of change being imposed on the financial planning indust...

Financial planning

DII products do not work well for chronic conditions

Disability income insurance products and the way they have been designed do not work well for prolonged periods of disability or chronic conditions, according to the anal...

Policy & Regulation

Hume references central adviser disciplinary body

Financial planning organisations are seeking clarity from the Government on how its proposed new central disciplinary body for financial advisers will work and how much i...