ASIC

Policy & Regulation

NSW financial adviser banned for three years

ASIC has banned Sydney adviser Tarandeep Aujla from providing financial services for three years for failing to act in his clients’ best interest....

Financial planning

Dealer groups tout for displaced advisers

Dealer groups are looking to grow their footprints on the back of the influx of advisers expected from the changes at AMP, the Commonwealth Bank and elsewhere....

Policy & Regulation

Industry funds urge publication of firm level complaints data

The number of complaints received about individual firms should be available to financial services customers, according to the Australian Institute of Superannuation Trus...

Policy & Regulation

It was a test case insists ASIC

The Australian Securities and Investments Commission has reinforced that its responsible lending action against Westpac was a test case....

Financial planning

ASIC updates guidance on climate change

The Australian Securities and Investments Commission has updated its guidance on climate change related disclosure....

Financial planning

FPA warns ASIC on social media complaints

The Financial Planning Association has warned the Australian Securities and Investments Commission of the significant problem associated with allowing complaints against ...

Financial planning

FPA warns on product intervention consequences

The Financial Planning Association has warned the Australian Securities and Investments Commission to be mindful of how product manufacturers may seek to recoup costs whe...

Policy & Regulation

APRA urges self-regulation

The Australian Prudential Regulation Authority chairman, Wayne Byers has urged financial services companies to embrace the need for self-regulation at both industry and c...

Policy & Regulation

Super trustees to follow whistleblower policies

ASIC has released its proposed whistleblower guidance to be implemented by 1 January 2020....

Policy & Regulation

Federal court upholds banning of Sydney lawyer and account

An appeal by Sydney lawyer and accountant Yingjie Wang against his permanent banning from providing financial services has been dismissed by the Federal Court of Australi...

Financial planning

Do advisers face being squeezed out of super?

Will changes to default superannuation arrangements combine with changes to income streams serve to squeeze many advisers out of the superannuation market?...

Policy & Regulation

ASIC bans Melbourne adviser for SMSF theft

The Australian Securities and Investments Commission has banned former Melbourne financial adviser Robert Michael for dishonestly borrowing money from his clients’ self-m...

Policy & Regulation

NAB again in adverse media spotlight

National Australia Bank has again found itself the subject of adverse media following the publication of leaked audit documents relating to its risk governance standards....

Policy & Regulation

Remediation provisioning reaches $9 billion says ASIC

The Australian Securities and Investments Commission has estimated that remediation provisioning by Australia’s major financial institutions has so far reached $9 billion...

Policy & Regulation

ASIC warns super funds on employer inducements

The Australian Securities and Investments Commission has fired a shot over the bows of superannuation funds tempted to provide inducements to employers to nominate them a...