ASIC

Policy & Regulation

Banks pledge to improve fraud protection

Five Australian banks have agreed to improve their compliance measures and controls for deposit accounts that can be operated by a third party, such as a financial advise...

Policy & Regulation

ASIC obtains orders against Linchpin, Endeavour

The Federal Court has made interim orders in proceedings brought by the investments regulator against Linchpin Capital Group and Endeavour Securities (Australia) Ltd....

Financial planning

End grandfathered commissions ASAP, says ASIC

The Australian Securities and Investments Commission has told the Productivity Commission that grandfathered commissions should be brought to an end as soon as possible....

Superannuation

ASIC raises absence of ‘best interests’ obligation for employers

The Australian Securities and Investments Commission has noted the absence of a ‘best interests’ obligation on employers when selecting default superannuation and the lac...

Policy & Regulation

Federal Court grants ASIC’s orders against Linchpin

The Federal Court has allowed ASIC’s application that Linchpin Capital and Endeavour Securities operated an unregistered managed investment scheme....

Financial planning

ASIC calls time’s nearly up on MDA settings

The Australian Securities and Investments Commission (ASIC) has warned managed discretionary account providers that time is nearly up on use of a key ‘no action’ letter....

Policy & Regulation

Govt boosts ASIC’s powers with $70 million funding

The Government has injected ASIC with a further $70.1 million to give the corporate regulator the resources it requires following the Royal Commission....

Policy & Regulation

Bendigo, SSFS and YBR added to fee for no service list

State Super Financial Planning, Bendigo Financial Planning and Yellow Brick Road have been added to the Australian Securities and Investments List of firms remediating fe...

Funds management

ETPs good but could improve, says ASIC

The Australian Securities and Investments Commission has determined that while the exchange-traded products market is performing well, there’s room to improve. ...

Policy & Regulation

ASIC approves ABA Code of Practice

ASIC has approved the Australian Banking Association’s new Banking Code of Practice following an independent review and stakeholder consideration....

Policy & Regulation

Govt slashes ASIC search fees

The Government has reduced the $40 fee to access ASIC online business registries and extended the fee exemption to all journalists. ...

Policy & Regulation

ASIC takes action in land banking scheme

The Federal Court has wound up five companies for their role in the operation of two land banking schemes following an ASIC investigation. ...

Features

What has driven the exponential growth in regulatory costs?

Mike Taylor writes that if one thing has distinguished the past five years in the financial services it has been the exponential growth in regulatory and compliance costs...

Financial planning

FSC backs RG97 external report

The Financial Services Council has backed the Australian Securities and Investments Commission’s external report of RG97. ...

Policy & Regulation

Fed Court decides on Allianz Metro contempt charges

The Federal Court has handed down its judgment on the contempt findings brought by ASIC against multiple defendants in proceedings concerning binary option trading websit...