ASIC

Financial planning

ASIC cancels Financial Stewards’ AFS licence

The Australian Securities and Investments Commission has cancelled Financial Stewards’ AFSL, following the company’s failure to cooperate with surveillance by the regulat...

Financial planning

Carwardine Financial alters process after ASIC compliance review

Carwardine Financial Services has engaged an independent consultant to overhaul its compliance processes....

Financial planning

ASIC appoints liquidator to Benchmark Private Wealth

ASIC has appointed a provisional liquidator to five companies within the Benchmark Private Wealth Group on orders from the Supreme Court of Queensland....

Policy & Regulation

ASIC wants BEAR-like powers across the board

The Australian Securities and Investments Commission wants to see the Bank Executive Accountability Regime extended to insurance companies and then an extension of its co...

Funds management

ANZ and NAB enter EUs with ASIC

Australia and New Zealand Banking Group and National Australia Bank have both entered enforceable undertakings with ASIC, following a Federal Court declaration against th...

Financial planning

Extend BEAR to planning executives say consumer groups

CHOICE and the Consumer Action Law Centre has called for the involvement of ASIC and the extension of the Bank Executive Accountability Regime to planning executives....

Financial planning

ASIC seeks final orders on Allianz Metro investigation

The Australian Securities and Investments Commission has sought final orders in continued Federal Court proceedings against companies associated with binary trading....

Financial planning

ASIC: We can’t regulate open APLs

The Australian Securities and Investments Commission has admitted it cannot regulate the number of products on an APL or which products advisers choose....

Superannuation

ISA accuses Government of enabling fee gouges

Industry Super Australia has continued its attack on the Federal Government’s superannuation reforms, yesterday saying that the proposed legislation will fail to prevent ...

Financial planning

Planner jailed for 10 years

A Queensland planner has been sentenced to 10 years imprisonment by the Brisbane District Court on 25 separate charges brought by the Commonwealth Director of Public Pros...

Financial planning

ASIC confirms ‘independence’ terminology use

ASIC has confirmed restricted use of the term ‘independently-owned’ and ‘non-aligned’ in its updated Regulatory Guidance 175....

Financial planning

ASIC accepts five-year enforceable undertaking for QLD adviser

ASIC has accepted an enforceable undertaking from a former representative of Toowoomba-based Hart Ensole Pty Ltd....

Life/Risk

Common definitions to be imposed on insurers

The life insurance industry will be required to use uniform definitions following work by APRA and ASIC which found meaningful comparisons could not be made under current...

Financial planning

‘Binary options trading boiler room’ operators sentenced

Operators of ‘binary options trading boiler room’, Jana Jaros and Jackson Capper, have been convicted and sentenced....

Policy & Regulation

AFA recommends seven-year wrong-doer’s register

The names of senior executives who have been sanctioned by the Australian Securities and Investments Commission should sit on a register for seven years, according to the...