ASIC

Financial planning

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...

Financial planning

VOFF demands Royal Commission recall Medcraft from France

Victims of Financial Fraud has called for Greg Medcraft be recalled from overseas to front the Royal Commission, saying that ASIC “pursue[d] family-owned advisory firms t...

Financial planning

FPA acknowledges code-monitoring status is challenging

The Financial Planning Association has acknowledged that obtaining and then maintaining financial planner code-monitoring status represents a substantial and expensive ch...

Financial planning

ASIC will ‘accelerate and expand’ wealth crack-down

Australian Securities and Investments Commission chairman, James Shipton has declared the regulator will be accelerating and expanding the so-called Wealth Management Pro...

Financial planning

ASIC cancels Wealth & Risk Management’s AFSL

The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Wealth & Risk Management, following a court finding that t...

Financial planning

Don’t blame planners for trails

Advisers are the victims not the villains where trailing commissions are concerned with product manufacturers and licensees much more to blame for today’s problems, accor...

Financial planning

Will planner disciplinary processes trump member retention?

The Australian Securities and Investments Commission has signalled that planner bodies will have to put aside their fear of losing members if they are to succeed as co-re...

Superannuation

VOFF questions APRA’s protection powers

Victims of Financial Fraud has alleged that the Australian Prudential Regulatory Authority cannot fully protect the public’s superannuation savings, building on previous ...

Policy & Regulation

ASIC charges IT consultant with insider trading

The securities regulator has charged Sydney-based IT consultant Steven Oakes with unauthorised access to data held in a computer, insider trading, and destroying or conce...

Policy & Regulation

ASIC seeks consultation on short selling

The securities regulator is seeking feedback on various proposals relating to both naked and covered short selling....

Financial planning

ASIC: Trails equate to ongoing fees

The Australian Securities and Investments Commission has told the Royal Commission that grandfathered trail commissions equate to ongoing fees....

Policy & Regulation

ASIC exhorted to become ‘active cop’

The Federal Treasurer, Scott Morrison has exhorted the Australian Securities and Investments Commission to utilise the additional powers and resources it has been handed ...