ASIC

Policy & Regulation

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...

Policy & Regulation

ASIC places Dollarmites in crosshairs

The Australian Securities and Investments Commission said it will commence a review of school banking programs in primary schools....

Policy & Regulation

Direct FX loses licence after six-month suspension

The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Direct FX Trading Pty Ltd. ...

Financial planning

FPA suggests risk rating financial products

The Financial Planning Association has suggested risk rating financial products to better target consumer protections....

Policy & Regulation

Poor breach reporting a lead indicator for ASIC embedding

The Australian Securities and Investments Commission has signalled that financial institutions with a poor breach reporting record are likely to find themselves dealing w...

Funds management

Folkestone’s acquisition by Charter Hall approved by shareholders

Folkestone has announced that its shareholders have approved the acquisition of the firm by Charter Hall....

Financial planning

ISA claims advice sector lobbied to water down rules

Industry Super Australia has accused elements of the retail advice sector of lobbying to water down the rules around personal advice and product distribution....

Policy & Regulation

ACCC identifies as fin services ‘competition champion’

The Australian Competition and Consumer Commission has told a key parliamentary committee it is funded and empowered to be the financial services “competition champion”....

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...