ASIC

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...

Financial planning

Heavy lifting on grandfathering falls to product issuers

The Government has imposed the administrative burden of redistributing grandfathered remuneration on product issuers rather than onto financial advisers or licensees....

Life/Risk

Life insurers face exposure to third party beneficiaries

Life/risk advisers face taking account of a new factor – the reality that Government changes to bring insurance under the Unfair Contracts Terms regime will expose life i...

Policy & Regulation

ASIC to review market maker funds

The Australian Investments and Securities Commission has asked market operators to exclude any new managed funds that fail to disclose their daily portfolio holdings and ...

Superannuation

Auditor disqualifications commended by SMSF Association

The SMSF Association has thrown its support behind the Australian Securities and Investments Commission decision to disqualify or add conditions to 17 auditors of self-ma...

Financial planning

ASIC confirms end to Spectrum license

The Australian Securities and Investments Commission has confirmed the cancellation of the Spectrum Wealth Advisers license and has notified all advisers and clients of t...

Policy & Regulation

ASIC to sue ANZ over unlawful transaction charges

The Australian Securities and Investments Commission has commenced proceedings against ANZ over account and periodic payment fees after it was alleged to have unlawfully ...

Financial planning

Sam Henderson banned for three years

High profile former adviser, Sam Henderson has been banned from providing financial services for three years....

Policy & Regulation

SMSF auditors suspended by ASIC

The Australian Securities and Investments Commission has acted to disqualify or add conditions to the number of self-managed superfund (SMSF) auditors after concerns they...