ASIC

Policy & Regulation

The Australian Securities and Investments Commission has admitted only five firms are using its so-called regulatory sandbox, with many others utilising pre-existing alte...

Financial planning

PI not adequate for fintechs providing financial advice

Consumer group Choice has warned parliamentarians that professional indemnity insurance is an inadequate safeguard for financial technology firms providing financial advi...

Superannuation

FCA orders winding up of Superfunded

The Federal Court has made orders by consent to wind up Western Australian company Superfunded, following an application from ASIC to appoint a liquidator last month....

Editorial

Can ASIC appropriately handle competition powers?

The Australian Securities and Investments Commission wants competition powers added to its regulatory armoury, but history suggests a need for caution on the part of the ...

Policy & Regulation

ASIC releases reports on Financial Literacy Strategy

The Australian Securities and Investments Commission has released a report on the progress of their National Financial Literacy Strategy. ...

Policy & Regulation

O’Dwyer points to RC review of ASIC and APRA

The Royal Commission into the Banking, Superannuation and Financial Services industry will be examining the effectiveness and ability of the financial services regulators...

Policy & Regulation

Super pressure paused RG 97 implementation

The Australian Securities and Investments Commission has admitted that negative feedback from superannuation funds and lobby groups persuaded it to place the implementati...

Financial planning

ASIC admits it has never investigated industry fund advice

The Australian Securities and Investments Commission has admitted it has never specifically investigated advice provided by industry superannuation funds....

Financial planning

Warning on unlicensed advice

The Government has been warned that changes to the Australian Securities and Investments Commission fintech sandbox may give rise to instances of unlicensed advice....

Financial planning

AFCA open for business by 1 November

The Minister for Revenue and Financial Services, Kelly O’Dwyer, said the Australian Financial Complaints Authority would be ready to receive disputes by 1 November 2018. ...

Financial planning

ASIC permanently bans unethical planner

The Australian Securities and Investments Commission has permanently banned a financial planner, Muneer Mahmood Khan, for not being of good fame and character and acting ...

Policy & Regulation

Give us competition powers says ASIC

The new chairman of the Australian Securities and Investments Commission has told a Parliamentary Committee the regulator needs competition powers to help it do its job....

Policy & Regulation

ASIC bans adviser using clients’ assets for personal benefit

ASIC has banned a Queensland-based financial adviser for seven years after finding he had used his clients’ assets for his personal benefit. ...

Financial planning

ASIC targets misuse of ‘general advice’

The Australian Securities and Investments Commission has declared its intention to target licensees misusing general advice in product sales to avoid their best interests...

Policy & Regulation

ASIC warns research houses on ‘independence’

The Australian Securities and Investments Commission has sent a message to financial services research houses by moving against a boutique provider which did not reveal c...