ASIC

Policy & Regulation

ASIC releases guidance ahead of AFCA regime

The regulator has released new guidance in advance of AFCA’s commencement to provide policy certainty for stakeholders and to support the transition to the new regime....

Financial planning

HML needs to issue full prospectus: ASIC

The Australian Securities and Investments Commission has restricted Henry Morgan from eligibility to issue a reduced-content prospectus....

Financial planning

Adviser convicted of dishonest conduct

The New South Wales District Court has convicted a former financial adviser of engaging in dishonest conduct with investor funds, following charges brought by the Austral...

Editorial

Dover must be a catalyst for change

The unprecedented nature of the closure of the Dover Financial Services business and resultant limbo status of its clients and advisers must act as a catalyst for change ...

Features

Who will guard the guards?

The Australian Securities and Investments Commission has been the frequent subject of demands for greater scrutiny of the regulators themselves. As Hannah Wootton writes,...

Financial planning

Westpac offers thin response to ASIC charges

Westpac has responded to civil charges brought against it by the regulator for poor financial advice by saying that it had already identified and responded to the alleged...

Policy & Regulation

ASIC mounts civil action against Westpac

The Australian Securities and Investments Commission has broken new ground by pursuing a civil case against Westpac as the licensee of a miscreant and now banned adviser....

Financial planning

ASIC cites planners in critique of sales culture

The Australian Securities and Investments Commission has cited the adverse impact of a sales culture in financial planning as it argues against revenue-based remuneration...

Financial planning

Dover, not ASIC determined outcome

The Australian Securities and Investments Commission was left with little discretion around the future of Dover Financial Services with the licensee exercising its right ...

Policy & Regulation

Will the industry get value for its regulatory dollar?

There have been new calls for greater transparency around how the financial services regulators are spending the levies extracted from the industry....

Financial planning

ASIC warns licensees on Dover recruits

The Australian Securities and Investments Commission has issued a warning to licensees on the need to undertake appropriate due diligence when appointing advisers “who ha...

Policy & Regulation

Wilsons Advisory cops $35,000 penalty

Wilsons Advisory and Stockbroking Limited has been fined $35,000 for infringing the Australian Securities and Investments Commission’s Market Integrity Rules. ...

Financial planning

Dover advisers left in limbo

More than 400 Dover Financial Services advisers face an uncertain future amid confirmation of cancellation of the firm’s Australian Financial Services License and consequ...

Policy & Regulation

Former NAB adviser banned

The Australian Securities and Investments Commission has permanently banned a former National Australia Bank adviser. ...

Policy & Regulation

Banks drag heels on breach reporting, until now

Banks and others were taking up to four years to deal with breach reports but the Royal Commission has caused a shake-up, generating a 39 per cent spike....