ASIC

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...

Financial planning

ASIC holding licensees to account for planner actions

The Australian Securities and Investments Commission has made clear it is holding licensees to account for their actions of their planners while cancelling the license of...

Policy & Regulation

ASIC registers win in prolonged legal battle

The Australian Securities and Investments Commission has registered another win its prolonged legal battle over the collapse of MFS Investment Management....

Financial planning

Victorian financial planner permanently banned

The Australian Securities and Investments Commission has permanently banned Victorian financial planner, Ahmed Saad of Glenroy, from providing financial services....

Policy & Regulation

Adviser slapped with 20 dishonesty offences

A former Sydney-based financial adviser has been charged with 20 dishonesty offences allegedly committed when he was a company director. ...

Financial planning

Reputations and legal precedents at stake in ASIC action

Both corporate reputations and legal precedents are at stake in the Australian Securities and Investments Commission’s decision to pursue access to legal advice documents...

Financial planning

ASIC moves to force law firm on AMP documents

The Australian Securities and Investments Commission is seeking court backing to force law firm Clayton Utz to produce documents at the heart of fee for no service allega...