ASIC

Superannuation

Super trustee fee and cost disclosure requirements extended

ASIC’s extension of fee and cost disclosure requirements for super trustees will assist the industry to increase transparency, ASFA believes....

Financial planning

ASIC launches new digital toolkit

ASIC has launched a digital toolkit aimed at helping Australians navigate financial advice and assist with the research....

Financial planning

ASIC bans former Westpac adviser

ASIC has banned a former Westpac financial adviser from providing financial services for eight years after finding cases of inappropriate advice provided to clients....

Financial planning

ASIC updates Morgans’ licence conditions

ASIC and Morgans Financial Limited have agreed for an independent compliance consultant to monitor and review Morgan’s implementation of recommended compliance measures....

Policy & Regulation

Parliamentary committee recommends tough action on miscreant planners

A Parliamentary Committee is recommending tough action by ASIC in naming miscreant licensees and planners and requiring contact with affected clients....

Financial planning

FPA members finally get opt-in relief

Members of the Financial Planning Association have been granted ASIC relief from opt-in if they sign up to the FPA’s Professional Ongoing Fees Code....

Editorial

Waiting for the revolution

Mike Taylor writes that accountant licensing has thus far proved to be the revolution which has not quite happened but the clock is still ticking. ...

Financial planning

Licensees urged to counter-punch on churn data

Licensees have been urged to pre-arm themselves with replacement premium registers to counter accusations of churn....

Financial planning

Former AMP Financial Planning adviser banned

ASIC has banned a former AMP Financial Planning authorised representative from providing financial services for eight years after finding he had engaged in forgery and mi...

Financial planning

Former Sentinel adviser banned

ASIC has banned a former Sentinel Private Wealth authorised representative from providing financial services for five years after he failed to comply with financial servi...

Financial planning

Former planner jailed for seven years

A former Queensland financial planner has been jailed for seven years on charges including forgery and fraud....

Superannuation

That seat in the corporate box may be illegal

ASIC has pointed out that super funds which offer employers seats in their corporate boxes at major sporting events may be guilty of providing an illegal inducement. ...

Superannuation

Regulators urge action over talk

Both APRA and ASIC have warned of considerable reputational damage to insurers and super funds if they do not turn talk of improvements into actions....

Financial planning

AAT stays ASIC’s ban of former adviser

The AAT has stayed the ASIC banning of former financial adviser, Michael Spencer, for engaging in warrant price manipulation....

Financial planning

ASIC advice levy to cost $24m

The financial advice industry could be expected to pay $24 million in levies to fund ASIC under the industry funding model, with much of it falling on personal advice pro...