ASIC

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...

Funds management

Folkestone, Charter Hall merger to go ahead

The Federal Court has approved the proposed scheme of arrangement under which Charter Hall Limited will acquire Folkestone....

Financial planning

CFPL gets qualified mark on EU undertakings

Commonwealth Financial Planning has sought an extension of time from the independent expert appointed to oversee the outcome of its enforceable undertaking (EU) over fees...

Policy & Regulation

10 things to look for in initial coin offerings

With ASIC having recently stopped a number of retail initial coin offerings and token generation events, The Fold Legal finds that tokens don’t always fit neatly into the...

Policy & Regulation

ASIC signals litigious intent

The Australian Securities and Investments Commission has signalled the likelihood that it will become significantly more litigious in the wake of the Royal Commission....

Policy & Regulation

Industry funds allege investment manager carve-out

Industry superannuation funds have questioned why product manufacturers such as investment managers have been “carved-out” of the Government’s new laws around design and ...

Policy & Regulation

ASIC wants product sales training powers

The Australian Securities and Investments Commission is arguing that giving it product sales training intervention powers may reduce the need for it to take extreme actio...