ASIC

Life/Risk

ASIC should have better consulted advisers on claims-handling

The Australian Securities and Investments Commission had fallen short in its review of claims-handling by not sufficiently consulting advisers and clients, according to I...

Policy & Regulation

ASIC signs fintech pact with Indonesia

The Australian Securities and Investments Commission has announced a cooperative agreement with Indonesia’s Otoritas Jasa Keuangan to promote fintech development....

Editorial

Objectively winding back the ‘significance test’

Mike Taylor writes that when the Government introduced the ‘significance test’ to the AFSL breach reporting regime in 2003 it was seen as sensible moderation but all that...

Financial planning

Fintech sandbox to be reviewed in a year

ASIC’s regulatory sandbox for testing fintech services will run for another year before the framework is reviewed....

Financial planning

ASIC bans former AFS Capital director

ASIC has banned a former director of AFS Capital, Dr Bingxing Hu, from providing financial services for five years....

Editorial

Will regulation blunt the ‘direct’ approach?

ASIC is taking a close look at the sale of life insurance direct to consumers and Mike Taylor writes that the regulator’s findings may significantly alter the commercial ...

Financial planning

ASIC cancels responsible entity AFSL

The corporate regulator has cancelled the AFSL of mortgage scheme responsible entity, DD&D Securities for failing to comply with obligations....

Financial planning

ASIC proposes peer review financial services panel

ASIC is consulting on its proposal to establish a financial services panel to be responsible for determining whether the body should ban individuals from financial servic...

Financial planning

ASIC wants tougher breach reporting obligations

ASIC has proposed imposing tougher breach reporting obligations on banks and financial services firms for significant breaches and misconduct in a consultation paper....

Financial planning

Adviser background checks still an issue: ASIC

While the financial advice industry was largely on the path to professionalism and efficiency, background checks when hiring new advisers need to be more robust, ASIC sai...

Policy & Regulation

From Montego Bay to Salzburg, Medcraft is on the job

Australian Securities and Investments Commission chairman, Greg Medcraft has outlined a busy global travel schedule as he winds up his time at the head of the regulator....

Financial planning

Emerging market issuers face cultural and language barriers

Language and cultural barriers were the key risks for emerging market issuers, according to ASIC....

Policy & Regulation

ASIC wants powers beyond its FOFA mandate

The Australian Securities and Investments Commission has urged a Senate Committee to give it powers to deal with licensees and planners beyond those contained in the FOFA...

Policy & Regulation

Fintech licence exemption no huge difference

ASIC’s licence exemption for fintechs to test products without a licence would not make a ‘material difference’ to everybody across the industry....

Financial planning

AAT upholds ASIC adviser banning

The AAT has reinforced ASIC’s banning of former Morgans Financial Limited client adviser, Ryan Batros from providing financial services for five years....