ASIC

Policy & Regulation

ASIC warns on vertical integration and APLs

The Australian Securities and Investments Commission has warned that while open APLs might help, the benefits will be undermined by vertical integration and conflicts of ...

Financial planning

RG 146 requirements may become tougher

ASIC has signalled the possibility that higher education standards for planners may also extend to RG 146....

Financial planning

ASIC license conditions imposed on NAB super trustee

A breakdown in internal procedures has resulted in licence conditions being imposed on NAB’s superannuation trustee relating to MLC Masterkey products....

Policy & Regulation

ASIC does well on own self-assessment

The Australian Securities and Investments Commission has given itself a solid pass mark on its own self-assessment....

Financial planning

Former financial adviser’s appeal upheld

The Administrative Appeals Tribunal (AAT) has upheld an appeal by former financial adviser, Tony Davidof, against ASIC’s decision....

Policy & Regulation

ASIC’s review of mortgage broking in spotlight

The results of an Australian Securities and Investments Commission review of mortgage broking may prove pivotal in changing commission arrangements....

Financial planning

ASIC cancels AFS licence for Sydney company

ASIC has cancelled the AFS licence of a Sydney-based firm, Core Insurance, for failing to lodge financial statements and auditor reports. ...

Accounting

IPA proposes co-regulatory model with ASIC

A co-regulatory model in relation to ASIC’s responsibilities would boost ASIC’s capacity to fulfil its responsibilities, the IPA believes....

Superannuation

Does ASIC lack expertise on super and funds management?

An industry submission has accused ASIC of falling short on superannuation and funds management due to its lack of expertise....

Superannuation

Govt warned on ASIC ‘prosecutorial culture’

The Government has been urged to ensure ASIC does not get to pocket the proceeds of its successful regulatory prosecutions to prevent the emergence of a ‘prosecutorial cu...

Financial planning

ASIC takes action against Westpac entities

ASIC commenced civil penalty proceedings against Westpac entities, WSAL and BTFM, for their sales campaigns targeting superannuation fund members. ...

Financial planning

Sydney adviser gets three-year ban

ASIC has banned a Sydney adviser and representative of Brisbane-based Protect Ensure from providing financial services for three years for misleading and deceiving client...

Policy & Regulation

New licensing exemption for fintech firms

ASIC has released licensing exemption for fintech businesses which would allow the firms to test certain services without holding an Australian financial service or credi...

Financial planning

Managed accounts ripe for the picking

ASIC’s regulatory guidance on managed accounts as well as enhanced features should see an uptick in adviser take-up of the platform, according to Tria Investment Partners...

Policy & Regulation

Should super be included in product intervention regime?

The Government has laid out the initial ground rules for its proposed ASIC product intervention regime but has invited discussion about whether super products should be i...