ASIC

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...

Policy & Regulation

ASIC makes a sporting decision

Spread betting may have the characteristics of a derivative, but the Australian Securities and Investment Commission has taken a punt on spread bets not being financial p...

Financial planning

ASIC refuses digital advice licensing relief

ASIC has refused to grant relief to an entity seeking exemption to hold an AFSL to develop and use a robo-advice tool for use by super fund trustees on their websites....

Financial planning

ASIC bans former ANZ adviser

ASIC has banned former ANZ adviser, Andrew TambyRajah, for five years for misleading and deceptive conduct....

Financial planning

ASIC/Trio dealings should be public

A group has called on ASIC to make its dealings with collapsed Trio Capital and the Astarra Strategic Fund public two years after it terminated its investigation....

Policy & Regulation

Financial reports need more clarity, realism

ASIC has called on companies who prepare financial reports to present information in a useful and meaningful way for their users....

Accounting

Laggard accountants weigh on ASIC resources

It may be well into 2017 before ASIC has cleared the backlog of applications from accountants seeking limited licensing....

Policy & Regulation

Should advisers get whistle-blower protection?

ASIC has recommended that certain types of advisers should be covered by whistle-blower protections. ...

Financial planning

Financial planning firm agrees to external compliance review

Brisbane financial planning firm, Carwardine Financial Services, has agreed to undergo an independent external review of its compliance following ASIC surveillance....