ASIC

Financial planning

Do managed accounts equate to in-house products?

A senior financial services lawyer has warned that managed accounts may equate to the selling of in-house assets in the eyes of the Australian Securities and Investments ...

Financial planning

AFA recommends ‘opt-in’ for social media complaints

The Association of Financial Advisers has recommended to the Australian Securities and Investments Commission that licensees be able to ‘opt-in’ to the recognition of cli...

Policy & Regulation

Untrained and unlicensed director banned by ASIC

Max David Goldenberg has been banned for eight years after illegally allowing clients to access their super to buy a home....

Financial planning

ASIC to review grandfathering steps

Financial services entities providing grandfathered remuneration to licensees and advisers will be scrutinised by the Australian Securities and Investments as they move t...

Financial planning

Tell us how advisers will be affected, demands AFA

Questions have been asked about how and to what degree advisers will be affected when the Australian Securities and Investments Commission chooses to exercise its product...

Financial planning

ASIC takes adviser to court

The corporate watchdog has alleged Keith James Flowers of using his position as director dishonestly and obtaining financial advantage by deception....

Superannuation

Govt response to grandfathered commissions disappointing: AIST

The new law does not remove the incentive for advisers to recommend poorly performing and expensive products....

Policy & Regulation

Banking industry committed to working with government on RC changes

The ABA has welcomed the Government’s timetable for legislative change, with eight of the 76 Royal Commission recommendations targeted at the banking industry....

Policy & Regulation

ASIC examples AMP/Clayton Utz in enforcement outcome

The Australian Securities and Investments Commission has used AMP and its lawyers, Clayton Utz, as examples of successful enforcement action by the regulator....

Financial planning

FPA and other associations lodge formal code-monitoring application

The Financial Planning Association, Association of Financial Advisers and other professional association backers will today lodge a formal application with ASIC to operat...

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...