ASIC

Financial planning

ASIC’s Kell agrees on value of planner experience

A financial planner’s years of experience has value and should be recognised, according to Australian Securities and Investments Commission deputy chairman, Peter Kell....

Financial planning

Will ASIC scrutinise industry fund advice?

ASIC has been asked within a Parliamentary Committee hearing whether it will scrutinise financial advice provided by industry funds in the same way it scrutinised that pr...

Policy & Regulation

AMP pays $14.7 million in compensation

Australia’s five largest banking and financial services institutions have paid a further $21.4 million to customers who suffered losses as a result of non-compliant condu...

Policy & Regulation

Enforceable Undertakings accepted for AFS licence

Two directors of financial services company, One Investment Services, have entered into an enforceable undertaking with ASIC following misconduct in their application for...

Policy & Regulation

New ASIC chairman signals agenda

The new chairman of the Australian Securities and Investments Commission, James Shipton, has signalled a substantial continuation of the Medcraft agenda....

Policy & Regulation

ASIC finds ratings houses wanting

The Australian Securities and Investments Commission has rated the credit ratings houses via a surveillance and found them wanting in some key areas....

Life/Risk

Should life insurers be allowed to unilaterally amend policies?

The Financial Services Council has confirmed to a Parliamentary Committee that it wants life insurers to have the right to unilaterally amend policies provided it does no...

Policy & Regulation

Poidevin wins AAT stay on ASIC banning order

Former Wallabies great and managing director of Corporate Broking at Bell Potter Securities, Simon Poidevin, has won a stay against an ASIC banning order....

Policy & Regulation

Will ASIC get competition powers?

The Productivity Commission is urging that the regulators be given more power to drive competition in the financial services industry....

Policy & Regulation

ASIC lays charges against former FX trader

Former New South Wales foreign exchange trader, Andrew Donaldson, has been charged with using his position as an employee dishonestly with the intention of gaining an adv...

Policy & Regulation

ASIC canvasses more power on retail hybrids

The Australian Securities and Investments Commission has canvassed having more powers to deal with retail sales of hybrid securities despite not having raised concerns wi...

Financial planning

ASIC bans broker from credit

ASIC has banned a New South Wales mortgage broker, Michael Wilkins, from engaging in credit activities for three years. ...

Financial planning

ASIC points to inherent conflicts in vertical integration

A new Australian Securities and Investments Commission report has repeated the regulator’s contention that vertical integration gives rises to inherent conflicts of inter...

Policy & Regulation

HLB Mann Judd in voluntary exclusion

HLB Mann Judd has voluntarily excluded itself from providing advice as an independent expert, effectively denying itself significant corporate transaction work....

Policy & Regulation

ASIC points to four-year delay on OTC derivatives

The Australian Securities and Investments Commission has told a Parliamentary Committee it will be four years and $19 million later before it is equipped to monitor whole...