ASIC

Financial planning

Trio victims renew call for action against ASIC

The organisation representing self-managed superannuation fund victims of the Trio/Astarra collapse have called on the Government to initiate a Serious Financial Crime Ta...

Policy & Regulation

ASIC may have to consider competition

In the midst of a Productivity Commission inquiry into competition in financial services, the Government has proposed measures to make the Australian Securities and Inves...

Policy & Regulation

Gov jumps ahead on second ASIC deputy chair

The Government has announced its candidate for a second deputy chair of the Australian Securities and Investments Commission on the same day it introduced a bill to creat...

Superannuation

Inquiry urged into insurer/super fund payments

The financial services regulators have been urged to closely scrutinise the financial relationships which exist between life insurers and superannuation fund trustees....

Life/Risk

Strong scrutiny urged on insurance APLs

A key Parliamentary Committee has urged strong scrutiny of past and present insurance Approved Product Lists and move to fully open APLs....

Editorial

Regulators must stand Royal Commission scrutiny

As key players in recent outcomes in the financial services industry, the Australian Securities and Investments Commission and the Australian Prudential Regulation Author...

Financial planning

MoneySmart wrong on cost of advice says AFA

The Association of Financial Advisers has told the Productivity Commission that ASIC’s MoneySmart website had skewed consumer expectations by suggesting simple advice can...

Life/Risk

TAL refunds $900,000 to funeral insurance customers

TAL has offered refunds totalling $900,000 to 1,200 funeral insurance customers after reporting to the Australian Securities and Investments Commission that it failed to ...

Financial planning

FPA calls for end to product manufacturer exemption

The Financial Planning Association has told the Productivity Commission that product manufacturers should no longer enjoy the licensing exemption which allows them to giv...

Financial planning

Did advisers use super choice to protect trails?

The Australian Securities and Investments Commission has confirmed it is investigating whether planners recommended super choice over MySuper to protect their trailing co...

Financial planning

Bad advice created FASEA says O’Dwyer

Repeated instances of bad advice made it necessary for the Government to create the Financial Adviser Standards and Ethics Authority regime, according to the Minister for...

Financial planning

Extend professionalism beyond planners says ASIC

The Australian Securities and Investments Commission has signalled a push to extend financial services professionalism beyond financial planners....

Policy & Regulation

ASIC gets second deputy chair

The Government will pass legislation to create a second deputy chairman of the Australian Securities and Investments Commission....

Financial planning

ASIC confirms likelihood of industry fund advice probe

A senior Australian Securities and Investments Commission executive has confirmed the likelihood of the regulator examining financial advice provided by industry funds, b...

Policy & Regulation

Just five firms using ASIC’s sandbox

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...