ASIC

Funds management

ASIC and Aurora lock horns over responsible entity change

ASIC has entered a change of the responsible entity for an Aurora Fund in its record of registration, despite submissions made by Aurora Funds Management to the contrary,...

Financial planning

ASIC bans inadequately trained planner

A Hobart financial planner who was not sufficiently trained, despite holding a Diploma of Financial Planning from Kaplan, or competent to provide financial services has b...

Life/Risk

FSC code doesn’t address ‘junk’ insurance

The Australian Lawyers Alliance has taken issue with the Financial Services Council’s new life insurance code of conduct arguing that is neither fully enforceable nor tak...

Policy & Regulation

ASIC wined and dined by Macquarie Group, Bank of China

The Age has uncovered that corporate regulators, including ASIC, have been “wined, dined and given corporate gifts without scrutiny” by those in the industries they are m...

Policy & Regulation

ASIC slaps more AFSL conditions on HNW Planning

The Australian Securities and Investments Commission has imposed additional conditions on the Australian financial services licence of HNW Planning....

Financial planning

ASIC takes Advanced Wealth Financial to court

The Australian Securities and Investments Commission has taken court action against Advanced Wealth Financial Services and Richard Gardner....

Policy & Regulation

ASIC goes to High Court over former MFSIM CEO

The Australian Securities and Investments Commission is continuing to pursue one of its longest-ever litigations surrounding the collapse of MFS Investment Management by ...

Policy & Regulation

Kaz Capital hit with further compliance review

ASIC has imposed additional conditions on the Australian financial services licence of Kaz Capital, following concern on the adequacy and effectiveness of the company’s c...

Financial planning

ASIC suspends Halifax Investment’s license

The Australian Securities and Investments commission has suspended the Australian financial services (AFS) licence held by Halifax Investment....

Financial planning

Advisers significantly impacted by PC

Financial advisers have emerged as unwitting casualties of the Productivity Commission’s final report on superannuation competitiveness and efficiency....

Financial planning

PC calls for higher SMSF advice standards

With adviser education set to be a continued focus for the industry in the new year, the SMSF Association has welcomed the Productivity Commission’s call for high advice ...

Policy & Regulation

When being a chartered accountant is not enough

Having an unblemished record as a chartered accountant is not justification in itself for being granted an Australian Financial Services License, according to the Adminis...

Superannuation

ASIC weak on super fee disclosure: ISA

Industry Super Australia has warned that the Australian Securities and Investments Commission’s latest recommendations on super fee disclosure don’t go far enough in crea...

Policy & Regulation

ASIC wants good faith compliance on fees and costs

The Australian Securities and Investments Commission may be well away from finalising the RG 97 regime but it wants financial services firms to deliver ‘good faith’ compl...

Policy & Regulation

ASIC reviewing ‘best interests’ action against Westpac/BT

The Australian Securities and Investments Commission has signalled it is not yet finished with its already two-year-old court against Westpac/BT over alleged client ‘best...