ASIC

Financial planning

ASIC bans South Australian adviser for three years

ASIC has banned South Australian financial adviser Ramana Rao from providing financial services for three years....

Life/Risk

Do life insurers’ direct sales models breach remuneration rules?

The Australian Securities and Investments Commission has raised the possibility that some of the direct sales models being used by life insurance companies could breach t...

Financial planning

Planner licensing to cost more under user-pays

A Government-backed Australian Securities and Investments Commission consultation paper has revealed the degree to which planners and planning firms will pay more for lic...

Accounting

ASIC offers guidance to limited AFS licensees

The Australian Securities and Investments Commission has released online guidance and information sheets intended to help limited Australian financial services licensees ...

Superannuation

ASIC granted injunctions against Superfunded

The Australian Securities and Investments Commission obtained interim injunctions from the Federal Court against Superfunded and its sole director and shareholder....

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...