ASIC

Policy & Regulation

Exclude advice obligations from insurance claims – ASFA

Insurance claims handling should not be encumbered by the same obligations as financial advice because it would risk making it unaffordable to super fund members, accordi...

Superannuation

MySuper dashboard reprieve extended

Super funds have been granted temporary relief from obligations to disclose dashboards for MySuper products, as the Government still has not passed the necessary regulati...

Policy & Regulation

UK and Australia enter post-Brexit agreement

The UK Financial Conduct Authority and Australian Securities and Investments Commission have agreed to strengthen cooperation post-Brexit....

Editorial

Memo ASIC: It ain’t illegal to underperform

Despite the populist chest-beating rhetoric from some of the Australian Securities and Investments Commission’s most senior executives, superannuation funds don’t breach ...

Policy & Regulation

ASIC gets product intervention power

In a last legislative act by the current Parliament, the Australian Securities and Investments Commission has been handed its product intervention powers....

Financial planning

ASIC imposes additional licence conditions on AMP Financial Planning

The Australian Securities and Investments Commission has imposed additional licence conditions on AMP Financial Planning....

Financial planning

FSC welcomes new laws to protect consumers

The Financial Services Council has welcomed new legislation aimed to provide more protection for consumers from poor financial products....

Financial planning

ASIC imposes additional conditions on SMSF Advisers Network

The Australian Securities and Investment Commission has imposed additional licence conditions on SMSF Advisers Network....

Policy & Regulation

FPA urges ASIC to act on fee comparability

The Financial Planning Association has urged the Australian Securities and Investments Commission to act to ensure financial product manufacturers more consistently revea...

Superannuation

ASIC proposals could worsen transparency problem

Changes to superannuation fee disclosure proposed by ASIC to improve transparency won’t solve the problem and could just increase confusion for consumers....

Superannuation

Minimal super changes welcomed by Actuaries

A positive budget outlook should spur important long-term policy direction, according to the Actuaries Institute....

Policy & Regulation

Budget delivers on ASIC and APRA funding

The Government has confirmed its funding promises with respect to the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority....

Financial planning

Is the end of general advice finally nigh?

The use of the term ‘general advice’ may finally be ending after a finding by ASIC that the division between personal and general advice confused consumers, according to ...

Policy & Regulation

ASIC ups levies despite Budget funding boost

The Australian Securities and Investments Commission has announced increases in its levy demands on financial planning firms despite substantial increases in funding to b...

Financial planning

Consumers confusing general and personal advice

Many consumers are worryingly unaware of the distinction between general and personal advice, with 47 per cent of Australians incorrectly identifying general advice....