ASIC

Policy & Regulation

The Australian Securities and Investments Commission has broken new ground cancelling the licenses of two accounting firms for failing to obtain membership of the Austral...

Policy & Regulation

FSC told to make insurance code enforceable

The Financial Services Council has received a clear message from the Government that it needs to make its Life Insurance Code of Conduct enforceable....

Financial planning

Former Financial Wisdom advisor banned by ASIC

Australian Securities and Investments Commission has banned former Financial Wisdom advisor Anneliese Ada Willmott....

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...