ASIC

Financial planning

ASIC has accepted enforceable undertakings from Westpac and ANZ to address inadequacies with their wholesale FX businesses....

Policy & Regulation

ASIC seeks more evidence on fee

The Australian Securities and Investments Commission wants more evidence before allowing responsible entities to directly negotiate fees with individual retail investors...

Financial planning

Former Morgan Stanley adviser banned permanently

ASIC has permanently banned former Morgan Stanley adviser, Andrew Panayiotides, from providing financial services....

Policy & Regulation

ASIC remakes two sunsetting class orders

The Australian Securities and Investments Commission has remade two legislative instruments and also repealed one ahead of their expiry in April....

Financial planning

AR responds to misleading advertising concerns

An Interprac Financial Planning authorised representative has closed his website after ASIC flagged concerns over misleading advertising....

Financial planning

Prohibition on car finance commissions

ASIC has proposed the use of its statutory power to modify provisions of the National Credit Act to prohibit the use of flex commissions in the car financing industry....

Funds management

Private equities say new fee disclosure rules flawed

Private equity funds have urged ASIC to address “flawed implementation” of new fee disclosure requirements....

Financial planning

ASIC starts penalty proceeding against Westpac

ASIC has commenced civil penalty proceedings against Westpac for breaching home-loan responsible lending laws....

Editorial

Banks less enamoured of wealth management

The days of the major banks competing for major wealth management assets are gone due to a combination of indifferent financial results and regulatory and reputational ri...

Funds management

Penalty notice for Share Investing

Share Investing Limited has paid a penalty of $130,000 after it complied with a Markets Disciplinary Panel infringement notice. ...

Financial planning

Liquidated firm gets AFSL cancelled

ASIC has cancelled Sovereign MF’s AFSL as liquidators are in the final stages of winding up its schemes....

Financial planning

ASIC bans financial adviser for five years

ASIC has banned Roan Financial Group’s Darren Tindall from providing financial services for five years after the FPA received a complaint against him for dishonest conduc...

Editorial

Churn: Real or politically expedient?

Was the life insurance industry ever really guilty of “excessive” churn or was churn a means to a politically-motivated end?...

Editorial

ASIC’s concerns on vertical integration and best interests

The Australian Securities and Investments Commission has left Federal Parliamentarians in no doubt that it has concerns about the compatibility of vertical integration wi...

Features

SMSF advisers – A convergence? – SMSF Feature Part 1

Accountants remain the most trusted advisers for SMSF clients but with licensing take-up remaining low following the accountants' exemption, what will this mean for SMSF ...