ASIC

Policy & Regulation

ASIC has a case to answer, says Frydenberg

The Federal Treasurer, Josh Frydenberg says he believes the Australian Securities and Investments Commission has a case to answer for the issues raised in the Royal Commi...

Financial planning

ASIC permanently bans unlicensed financial adviser

The regulator has permanently banned unlicensed financial adviser, Senen Pousa, from providing financial services or engaging in credit activity....

Financial planning

ASIC takes civil action against Dover, McMaster

The regulator has commenced civil action in the Federal Court against Dover Financial Advisers and its sole director, Terry McMaster....

Policy & Regulation

ASIC takes on ANZ in Fed Court

The Australian Securities and Investments Commission has commenced civil proceedings against ANZ Banking Group....

Policy & Regulation

ASIC gives regulatory nod to new Chi-X product

The securities regulator has updated market integrity rules to facilitate the introduction of Chi-X Australia’s new financial product known as transferable custody receip...

Policy & Regulation

AAT supports Westpac adviser’s ban

The Administrative Appeals Tribunal has upheld the Australian Securities and Investments Commission’s decision to ban Perth-based Westpac adviser....

Policy & Regulation

Super funds drag feet on joining AFCA

Most financial planning groups may have signed up with the new Australian Financial Complaints Authority, but superannuation funds appear to be dragging their feet....

Life/Risk

CBA not “frank and open” in dealings with FOS, RC told

CBA has acknowledged that it was not frank and open in a dispute with the Financial Ombudsman Service, the Royal Commission has been told....

Policy & Regulation

ASIC gives AFCA rules tick of approval

The Australian Securities and Investments Commission has approved the Australian Financial Complaints Authority’s Complaint Resolution Scheme Rules. ...

Life/Risk

Freedom lambasted at RC for “inappropriate, highly aggressive” sales practices

Freedom chief operating officer Craig Orton has admitted to the Royal Commission that aggressive insurance sales practices within his organisation led to poor customer ou...

Life/Risk

RC points to flaws in insurance rules

The Royal Commission has pointed to flaws and inconsistencies in the regulatory environment around life insurance, including that there is no penalty capable of being imp...

Policy & Regulation

Bank divestments will increase competition says ASIC

The Australian Securities and Investments Commission has forecast a ‘new competitive dynamic’ in the wake of the banks divesting their insurance and wealth management bus...

Policy & Regulation

Further ASIC action likely on NAB entities

The Australian Securities and Investments Commission has signalled that it is not yet finished with respect to National Australia Bank entities over fee for no service an...

Policy & Regulation

ASIC launches fee for no service action against NAB

The Australian Securities and Investments Commission has launched Federal Court action against NAB and its superannuation entities over fees for no service....