ASIC

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The Australian Securities and Investments Commission has remade two legislative instruments and also repealed one ahead of their expiry in April....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

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....