ASIC

Policy & Regulation

The Australian Securities and Investments Commission has cancelled the Australian financial services licences of BBY Advisory and SmarTrader. ...

Financial planning

Royal Commission miscreants to escape tougher rules

Licensees identified by the Royal Commission as having done the wrong thing will escape the tougher penalties recommended by the Australian Securities and Investments Com...

Financial planning

Former AMP adviser banned for five years

The Australian Securities and Investments Commission has banned a former AMP financial adviser for five years, after finding that he gave advice which was “well below com...

Policy & Regulation

ACCC to lay criminal cartel charges against ANZ

The competition regulator said it expects the Commonwealth Director of Public Prosecutions to lay criminal cartel charges against ANZ and the bank’s group treasurer Rick ...

Policy & Regulation

ASIC gives financial firms AFCA transition relief

The regulator has said it would give financial firms, including super trustees, until 1 July 2019 to update mandatory disclosure documents and periodic statements with th...

Financial planning

We’ll use external resources says ASIC

The Australian Securities and Investments Commission has flagged greater use of external resources in pursuing its crackdowns on wealth management....

Financial planning

VOFF alleges that ASIC gave criminal an AFSL

Victims of Financial Fraud has alleged that the Australian Securities and Investments Commission failed to acknowledge that it allowed known criminals into the financial ...

Financial planning

New body launched to improve financial capability

The Turnbull Government will establish a new $50 million body to advance financial capability which will largely be funded by settlements paid to the Australian Securitie...

Policy & Regulation

VOFF alleges ASIC is driven by self-interest

Victims of Financial Fraud have again hit out against the Australian Securities and Investments Commission, this time alleging the regulator looks after itself before “or...

Policy & Regulation

Former Brisbane adviser charged with $5.9m fraud

Former financial adviser Ben Jayaweera has appeared in the Brisbane Magistrates Court charged with six counts of fraud involving around $5.9 million....

Policy & Regulation

Government moves to increase ASIC registry fees

The Government has introduced the final part of its Australian Securities and Investments Commission industry funding model to Parliament, which would see registry fees r...

Financial planning

ASIC leverages insurer lapse data

The Australian Securities and Investments Commission has confirmed it has already leveraged lapse data provided by the major life insurers to act against life/risk advise...

Policy & Regulation

ASIC told to justify user-pays fees

The Australian Securities and Investments Commission has been urged to provide detail to justify the fees it will be charging under its user-pays regime....

Financial planning

ASIC questions legal permissibility

The Australian Securities and Investments Commission has pointed the finger at financial services companies seeking to cling to old regulatory regimes, arguing that legal...

Policy & Regulation

ASIC licensing delays test industry

New analysis from legal firm The Fold points to the dynamics of the financial services industry having changed by Australian Securities and Investments Commission licensi...