ASIC

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...

Policy & Regulation

ASIC signals litigious intent following Prime Trust win

The Australian Securities and Investments Commission has signalled its willingness to pursue tough and prolonged litigation in the wake of Friday’s Prime Trust win....

Superannuation

AIST welcomes ASIC’s decision

The Australian Institute of Superannuation Trustees has welcomed the Australian Securities and Investment Commission’s announcement with regards to a longer transition pe...

Policy & Regulation

ASIC to sharpen IDR requirements

The Australian Securities and Investments Commission has foreshadowed further pressure on financial services licensees as a review of internal dispute resolution identifi...

Policy & Regulation

Academics urge board to monitor ASIC and APRA

A new research paper developed by three academics has urged the imposition of an over-arching assessment board to oversight the effectiveness of the Australian Securities...

Funds management

DomaCom raises $2.95m

DomaCom has announced it has completed $2.95 million capital raise through the issue of a convertible security....

Policy & Regulation

Frydenberg names new ASIC deputy chair

The Federal Government has appointed the Productivity Commission deputy chair, Karen Chester as the replacement for Peter Kell as deputy chair of the Australian Securitie...

Life/Risk

Freedom Insurance hits life sales, liquidity issues

Freedom Insurance Group has declared it will not be recommencing sales of life products as it deals with commissions-related liquidity issues and the reality of a client ...