ASIC

Life/Risk

ASIC convinces parliamentarians on life/risk advice

The Australian Securities and Investments Commission appears to have been successful in persuading a key Parliamentary Committee of its view on life/risk advice and lapse...

Tech

ASIC regulatory sandbox retains fintech exemptions

The Australian Securities and Investments Commission has released a review of its regulatory sandbox, which plans to retain waivers for licencing for fintech businesses....

Financial planning

When planners get double the punishment of unlicensed operators

The Financial Planning Association has harshly criticised proposals to increase compliance penalties against financial planners to double those imposed against people fou...

Policy & Regulation

ASIC confirms insurer super rebates

ASIC has confirmed around 20 per cent of superannuation fund receive ‘rebates’ from insurers with a similar number accepting corporate hospitality....

Policy & Regulation

When ‘churn’ turns to lapses and the quality of advice

The Australian Securities and Investments Commission has confirmed to a Parliamentary Committee it is no longer talking about churn but, rather, lapses and the appropriat...

Policy & Regulation

Govt navigates AFCA bill through Senate

The Australian Financial Complaints Authority will come into being next year following the passage of the necessary legislation through the Senate with minor amendments....

Financial planning

ASIC cautions platform providers on fee disclosure

The Australian Securities and Investments Commission has warned it will take action if platform providers break the rules and understate cumulative fees....

Policy & Regulation

ASIC sends message on advice and MDAs

The Australian Securities and Investments Commission has sent a clear message to Managed Discretionary Account operators that it sees personal advice as a key protection ...

Life/Risk

ASIC seeking law reform on life claims handling

The Australian Securities and Investments Commission has made a strong pitch for further law reform to allow it greater scope to handle claims in the life/risk arena....

Financial planning

APLs make advisers more efficient says FSC

Approved Product Lists help make advisers more efficient and keep the cost of delivering advice under control, according to the Financial Services Council....

Superannuation

ASIC focuses on super inducements to employers

The Australian Securities and Investments Commission has revealed it is focusing on super funds which provide employers with inducements such as free tickets to sporting ...

Financial planning

Victorian financial adviser banned for three years

ASIC has banned Victorian financial adviser, Julie Hamilton from providing financial services for three years....

Financial planning

ASIC overviews licensing registration

ASIC has published a report with its approach and assessment of licence applications and professional registrations for the period July, 2016 to June, 2017....

Superannuation

Industry funds that look like platforms

The Australian Securities and Investments Commission has confirmed that a number of industry funds have developed offerings that make them look a lot like platforms....