ASIC

Financial planning

ASIC permanently bans Brisbane financial adviser

ASIC has permanently banned Brisbane financial adviser, George Karakatsanis, from providing financial services for not acting in the best interest of his clients....

Financial planning

ASIC bans Brisbane financial adviser

ASIC has banned Brisbane life insurance financial adviser, Christopher Young, for five years as he failed to act in his clients’ best interest....

Outsider

ASIC smoking with a Hallelujah moment

Outsider has some good news for financial planners and others regulated by ASIC — Peter Kell has admitted madly wasting money and resources....

Financial planning

ASIC suspends licence of Paramatta firm

ASIC has suspended the AFSL of Paramatta-based firm, Rural and General Insurance Broking, for failing to lodge financial statements....

Financial planning

ASIC bans former NSW adviser

ASIC has permanently banned former NSW financial adviser, Ashley Grant Howard, after a lengthy investigation....

Life/Risk

Property group consents to extend ASIC interim orders

Macro Realty Group director, Desiree Macpherson, has consented to interim orders from ASIC obtained in a Perth Federal Court earlier this year....

Financial planning

Former QLD adviser banned

ASIC has permanently banned a former Queensland authorised representative of an insurance product distributor after being sentenced for fraud and stealing....

Financial planning

ASIC clarifies adviser record keeping duties

ASIC has highlighted that AFSLs must have access to financial adviser records for the required period, while representatives must also keep records....

Superannuation

Self-auditing SMSF auditor disqualified

ASIC has disqualified an SMSF auditor who audited a fund of which he was a member and trustee....

Financial planning

Big licensees pay millions in fee refunds

ANZ, NAB, CBA, Westpac and AMP licensees have paid around $23.7 million in refunds for fees charged without the actual provision of advice, with the refund total likely t...

Financial planning

RG 255 potentially blurs lines

ASIC’s guidance on digital advice providers’ accountability is controversial as traditional advisers may use technology to automate seemingly trivial documentation, accor...

Outsider

Confidentially aiming to please

Outsider was both amused and amazed at Greg Medcraft's decision to not only answer questions posed by the Parliamentary Committee but go the extra mile to tell them offen...

Life/Risk

Small advisory firms less likely to compensate — ASIC

ASIC has told the Government that consumers need to know that in the event of a product failure, uncompensated losses are usually attributable to smaller advisory firms....

Financial planning

ASIC defines the power of the code

ASIC has confirmed it will be relying on professional associations to administer planner codes of conduct with the ultimate sanction being a planner’s loss of membership ...