ASIC

Policy & Regulation

ASIC penalises Berndale Capital Securities

The Australian Securities and Investments Commission has cancelled a Melbourne-based OTC derivative issuer’s licence and its former director has been banned. ...

Policy & Regulation

ASIC cancels Financial Circle’s licence

The Australian Securities and Investments Commission has cancelled the Australian financial services licence and credit licence of Financial Circle....

Policy & Regulation

ASIC lays 13 dishonesty charges on former planner

The Australian Securities and Investments Commission has charged a former Melbourne financial planner with 13 dishonesty offences....

Financial planning

ASIC warns on AFCA membership late fees

Financial firms who are members of the Australian Financial Complaints Authority must notify the Australian Securities and Investments Commission of their membership by t...

Financial planning

I wish we had acted sooner says NAB chairman

The chairman of National Australia Bank, Ken Henry has told the Royal Commission he wishes the board had acted more promptly in dealing with a customer remediation proces...

Policy & Regulation

NAB chairman suggests unilateral client remediation

The chairman of National Australia Bank, Ken Henry has told the Royal Commission it should consider allowing banks to remediate customers without first seeking permission...

Policy & Regulation

Should ASIC executives be subject to the BEAR?

Australian Securities and Investments Commission chairman, James Shipton has signalled his intention to subject his own executives to the same terms and conditions as the...

Policy & Regulation

AMP to face another Royal Commission grilling

AMP Limited is listed to face another round of Royal Commission questioning as the process enters its final week....

Policy & Regulation

ASIC questioned over governance practices

The Royal Commission has asked ASIC why recent new senior level roles were all filled by internal candidates from a limited pool, amid questions about the regulators’ gov...

Policy & Regulation

Does ASIC intend to regulate itself?

ASIC chair, James Shipton, has come under fire from the Royal Commission, which seemed dissatisfied with how the regulator intended to prove its performance improves goin...

Policy & Regulation

Advisers must remember to register before FASEA takes effect

Authorised advisers need to make sure they’re on ASIC’s Financial Advisers Register by the end of the year, before new professional standards take effect, or risk being t...

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Financial planning

Industry solution proposed for fee for no service

At the same time as confirming Westpac has lost around half its authorised representatives since 2015 the bank’s chief executive has also confirmed a proposed industry so...

Financial planning

CBA staff misunderstood client relationship

Commonwealth Bank chief executive, Matt Comyn has cited fee for no service as being one of the bank’s key shortcomings and claimed key executive personnel had failed to u...

Policy & Regulation

UBS Securities hit with $120,000 penalty

UBS Securities has been slapped with a $120,000 penalty by the regulator’s Markets Disciplinary Panel after it had reasonable grounds to believe that UBS contravened mark...