ASIC

Policy & Regulation

ASIC spotlights industry fund vertical integration

The Australian Securities and Investments Commission has broken new ground by imposing a penalty on HostPlus based on the commercial links and consequent service agreemen...

Policy & Regulation

Regulators band together to urge LIBOR transition

The Australian Securities and Investments Commission has written to the chief executives of several major financial institutions, encouraging them to transition away from...

Life/Risk

ASIC may want codes of practice strengthened before granting approval

ASIC will likely require some insurance code of practice provisions are strengthened before it approves the code, and these requirements may extend to other industry bodi...

Financial planning

Former financial adviser pleads guilty

Former financial adviser, Trevor William Martin, has pleaded guilty to dishonestly obtaining client funds....

Financial planning

Lonsec makes strategic IMA planner offer

Research and ratings house, Lonsec has made a strategic offer to advice licensees to take control of their managed account portfolios....

Financial planning

Sydney wealth firm sees licence suspended by ASIC

The Australian Securities and Investments Commission (ASIC) has suspended the licence of Sydney-based Australasia Wealth Services Management (ASWM) for failing to meet re...

Policy & Regulation

ATO cracks down on cryptocurrency investors

The Australian Taxation Office (ATO) is undergoing a data matching service to ensure an estimated one million people investing in cryptocurrency are paying the right amou...

Financial planning

ASIC bans CEOs for six years

The two joint chief executive officers of a managed investment scheme operator, Australian Mutual Holdings Limited, have been banned for providing financial services for ...

Policy & Regulation

Receiver appointed to former OTC derivates issuer

The Australian Securities and Investments Commission will appoint a receiver to former OTC derivatives issuer Berndale Capital Securities, following a successful applicat...

Superannuation

Super funds factor in M&As

A new analysis of merger and acquisition activity has pointed to higher activity levels on the part of superannuation funds....

Financial planning

ASIC pursues criminal action against banned former NAB planner

The Australian Securities and Investments Commission has announced it is pursuing criminal charges against a former National Australia Bank planner who has already been p...

Policy & Regulation

Perth accountant slapped with six-year ban

ASIC has banned a Perth-based accountant from providing any financial services for six years, after finding that he both contravened and was likely to again contravene a ...

Life/Risk

Insurance advisers may be safe from anti-hawking laws

Changes to anti-hawking regulations likely won’t impact insurance advisers as their discussions with clients on risk products generally fall within regulatory definitions...

Financial planning

ASIC slaps QLD adviser with five-year ban

The Australian Securities and Investments Commission has banned Queensland-based adviser, Gregory Forster, from providing financial services for five years. ...

Financial planning

Citigroup to refund $3 million for general v personal advice blurring

A major bank will refund over $3 million to more than 100 retail customers, after an investigation into whether customers believed they were receiving personal rather tha...