ASIC

Financial planning

ASIC testing licensees on Fee Disclosure Statement failings

The Australian Securities and Investments Commission has flagged impending enforcement action against advice licensees for Fee Disclosure Statement failings and a broader...

Policy & Regulation

ASIC slaps Spectrum Wealth adviser with three-year ban

The regulator has banned Spectrum Wealth Advisers’ Gurumukh Singh Mehra from providing financial services for three years after surveillance showed he failed to act in hi...

Policy & Regulation

ASIC provides relief on ETF short-selling

The Australian Securities and Investments Commission has provided legislative relief that will allow exchange-traded fund market makers to make named short sales in ETF a...

Financial planning

ASIC permanently bans former NAB branch manager

The Australian Securities and Investments Commission has permanently banned former NAB branch manager, Mathew Alwan....

Policy & Regulation

ASIC urges mandating minimum SMSF balance

The Australian Securities and Investments Commission has urged the mandating of a minimum balance for self-managed superannuation funds and a ban on limited recourse borr...

Policy & Regulation

Luxembourg, US and ASIC enter fintech agreement

The Luxembourg Commission de Surveillance du Secteur Financier and the US Commodity Futures Trading Commission have each entered agreements with ASIC to cooperate and und...

Life/Risk

ClearView rules out ever returning to direct insurance

ClearView has told the Royal Commission it has no intention of returning to direct life/risk insurance and will remain focused on the advised market....

Policy & Regulation

Institutions “fall far short” in honest treatment of Australians: Treasurer

The interim report and the Royal Commission's hearings clearly show that some financial institutions have fallen far short of treating Australians honestly and fairly, ac...

Policy & Regulation

Regulators failed to stop misconduct: Hayne

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has slammed the industry regulators for failing to sufficiently punish...

Policy & Regulation

Licensees, not planners face RC-imposed changes

Financial services licensees rather than individual planners are facing the most change likely to result from the preliminary findings of the Royal Commission into Miscon...

Policy & Regulation

FSC backs ASIC call on breach response times

The Financial Services Council has called on financial institutions to improve their response time to incidents, saying that action was urgently needed if they were going...

Policy & Regulation

ASIC dubs breach reporting delays “unacceptable”

A review by the regulator has described delays by financial institutions in reporting, addressing and remediating significant breaches as “unacceptable”....

Life/Risk

Industry fund files post-RC breach report with ASIC

Industry superannuation fund REST has filed a breach report with the Australian Securities and Investments Commission after admitting to failings during the Royal Commiss...

Expert Analysis

Should investors be worried about the wide spreads on some ETPs?

Arian Neiron breaks down the Australian Securities and Investments Commission’s recent report on exchange-traded products, exploring why the regulator warned of wide spre...

Outsider

Deputy Kell unholsters his six-shooters

And as the sun slowly fades into the west ... Outsider notes the impending departure of Australian Securities and Investments Commission deputy chairman, Peter Kell....