ASIC

Policy & Regulation

Interim injunction against Forex Capital Trading extended

The Australian Securities and Investments Commission has been granted an extension of its interim orders to restrain the company from removing their assets from Australia...

Financial planning

ASIC confirms scrutiny of industry funds advice

The Australian Securities and Investments Commission has confirmed closer scrutiny of advice provided via superannuation funds while noting that conflicts of interest in ...

Financial planning

ASIC winds up illegal land banking investment scheme

The Australian Securities and Investments Commission has wound up an illegal land banking investment scheme, Melbourne-based company Aviation 3030....

Policy & Regulation

ASIC wraps up Westpoint actions

The last of 19 civil actions brought by ASIC against financial services licensees recommending Westpoint products has wrapped up, with almost $1.5 million being recovered...

Financial planning

Platforms blamed in CBAs FFNS delays

The Commonwealth Bank has signalled the degree to which it will be changing its platform arrangements to overcome fee for no service problems....

Policy & Regulation

Former AFS AR gets 10 years’ jail

A former Australian Financial Services authorised representative has been jailed for 10 years for using clients’ funds “as he pleased”....

Superannuation

Super funds letting ATSI members down

The rules and definitions imposed by superannuation funds is core to the barriers to access to super faced by indigenous people....

Policy & Regulation

Pay invoices or be penalised, warns ASIC

With industry funding invoices due in two days’ time, ASIC has urged all individuals holding a license and covered by the Government’s laws for funding of the regulator's...

Financial planning

How will AMP handle departed advisers?

AMP Limited has yet to determine how it intends on handling its remediation obligations with respect to advisers who have left the company....

Policy & Regulation

ASIC hits AMP and banks over laggard approach to fee for no service

The Australian Securities and Investments Commission has signalled using its new directions power in the face of the slow response of AMP and the major banks to follow-up...

Outsider

Kell, Zinn and the familiar faces at Adviser Ratings

Outsider was pleased to see his old mate and former Australian Securities and Investment Commission deputy chairman, Peter Kell, bob up as part of an external ratings com...

Superannuation

ASIC takes action against SMSF auditors

The Australian Securities and Investment Commission has disqualified and suspended a number of auditors of self-managed superannuation funds....

Funds management

Investors pushing for climate change risk disclosure

Investors’ interest in real and meaningful climate change risk disclosure is growing, with both investment groups and company shareholders pushing for accountability, ASI...

Superannuation

AAT decision puts past offenders on notice

The Administrative Appeals Tribunal has upheld a decision to refuse Superannuation Warehouse’s application for a limited Australian financial services licence, after its ...

Policy & Regulation

ASIC to look into MiFID II impacts

ASIC has engaged UNSW to survey Australian fund managers that may be impacted by the European Union’s MiFID II rules, noting that the regulations may become an unofficial...