ASIC

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...

Policy & Regulation

Platinum Perpetual Global Private Wealth AFSL cancelled after police charges

Platinum Perpetual Globe Private Wealth has lost its Australian financial services licence after charges brought by Western Australian police....

Financial planning

AFA warns ASIC on inadvertent adviser anti-hawking impacts

Financial advisers should not be inadvertently caught up in the Australian Securities and Investments Commission’s tough new life/risk anti-hawking approach just because ...

Financial planning

Advice businesses who went down owing AFCA

Many of the financial advice businesses named by the Australian Financial Complaints Authority as having failed to pay complaint-related charges are already out of busine...

Financial planning

Suncorp pays $1.4m in compensation

Following a remediation program Suncorp has compensated 4,000 GuardianFP clients....

Policy & Regulation

APRA foreshadows getting ‘constructively tough’

The Australian Prudential Regulation Authority has signalled its intention to emulate the Australian Securities and Investments Commission by more frequently publishing t...

Policy & Regulation

Have licensees been clearing out their breach skeletons?

The Australian Securities and Investments Commission has speculated that a 50% increase in breach reporting may be the result of licensees clearing the skeletons out of t...

Financial planning

Proposed Code Monitoring Authority will be ready to roll

The Code Monitoring Authority established by the major financial planning associations will be ready to roll if, and when, it gains sign-off from the Australian Securitie...

Policy & Regulation

ASIC refuses to reveal its methods

High risk hedge funds are still under scrutiny by the Australian Securities and Investments Commission but the regulator is refusing to reveal how it is going about its b...