ASIC

Policy & Regulation

Qld court appoints receiver after ASIC/US investigation

The Queensland Supreme Court has made ex parte orders regarding the Goldsky Global Access Fund, following an investigation by ASIC in which it was assisted by its America...

Policy & Regulation

Academic questions FASEA filings

Deakin Business School associate professor, Adrian Raftery has raised questions about whether the Financial Adviser Standards and Ethics Authority has met its financial f...

SMSF

ASIC disqualifies Victorian SMSF auditor

The regulator has disqualified Oscar Altavilla from being an approved auditor of SMSFs following breaches of independence and auditing standards....

Financial planning

Dishonest adviser sent to prison

Dishonestly using his position to gain benefits in the amount of $800,000 has seen a former Gold Coast financial adviser sentenced to two-and-a-half years in prison by th...

Policy & Regulation

ATO refines data-matching of share trades

Advisers and their clients have been put on notice to maintain a tighter focus on share trades with the Australian Taxation Office now capable of matching share trades ag...

Financial planning

SMSF auditors suspended by ASIC

The Australian Securities and Investments Commission has suspended and deregistered 101 self-managed superannuation fund auditors due to audit quality....

Policy & Regulation

Lawyers argue against post-sale product intervention

The Law Council of Australia has urged the Government that it needs to amend proposed new financial product design and distribution laws to exclude intervention in produc...

Life/Risk

FSC proposal described as Trojan horse

Plaintiff law firm, Maurice Blackburn has labelled the Financial Services Council’s failed bid to have life/risk insurers allowed involvement in worker rehabilitation as ...

Policy & Regulation

ASIC warning to AFCA laggards

The Australian Securities and Investments Commission has issued a warning as credit representatives appear to be lagging on their obligations to join the Australian Finan...

Financial planning

ASIC cancels Austplan’s licence

The Australian Securities and Investments Commission has cancelled the AFS licence of Austplan, effective from 25 November....

Life/Risk

FSC and insurers rebuffed on worker rehabilitation proposal

The Joint Parliamentary Committee on Corporations and Financial Services has rebuffed an FSC proposal to allow life/risk insurers to participate in getting injured worker...

Policy & Regulation

We won’t be captured, says ASIC chairman

New Australian Securities and Investments Commission chairman, James Shipton has vowed to eliminate the circumstances where the regulator can be perceived to have been ca...

Policy & Regulation

Life insurer claims data provision made mandatory

Life insurance companies are now under a legal obligation to provide consistent data on claims and disputes to the Australian Prudential Regulation Authority and the Aust...

Financial planning

VOFF letter added to Coalition’s woes

Victims of Financial Fraud has written to Treasurer Josh Frydenberg to remind him how vehemently the party objected to holding a Banking Royal Commission. ...

Policy & Regulation

Frydenberg urges tougher ASIC approach

The Federal Treasurer has reinforced that he wants the Australian Securities and Investments Commission to take a tougher approach in pursuing litigation rather than nego...