ASIC

Funds management

Derivative company caught ‘mingling client money’

ASIC enquiry found an Australian retail over-the-counter (OTC) derivative issuer “mingling” client money. ...

Financial planning

ASIC to pursue ex-Macquarie advices, as group gets all clear

Investigations into former Macquarie Equities advisers are set to continue after a review of post-EU reforms show no signs of inappropriate advice....

Funds management

AMIT legislation hailed

AMIT legislation welcomed but Equity Trustees is calling on the Government to do more. ...

Policy & Regulation

ASIC admits few complaints about claims handling

ASIC deputy chairman, Peter Kell, has admitted that prior to issues around CommInsure, it had received few complaints about life insurance claims handling....

Financial planning

ASIC to decide fate of convicted planner

A Western Australia-based financial planner's ability to retain his accreditation will be left up to ASIC after failing to secure a spent conviction relating to a breach ...

Financial planning

ASIC funded to ‘combat FS misconduct’

ASIC chairman, Greg Medcraft has received his wish with increased funding for the regulator to “combat misconduct in the financial services industry”....

Financial planning

Former NAB planner banned

ASIC bans former financial planner after receiving information from National Australia Bank....

Policy & Regulation

Industry fund rejects Royal Commission calls

Not-for-profit fund UniSuper has welcomed the Government’s move to boost ASIC funding instead of pursuing a Royal Commission into the banking and financial services indus...

Financial planning

Industry to foot ASIC reform package costs

The Government has announced a $127.2 million reform package for ASIC, with costs to be recovered from all industry sectors regulated by ASIC. ...

Policy & Regulation

Will super funds and insurers pay price for increased bank scruinty?

The Government is set to increase the APRA levy to fund increased ASIC scrutiny of the banking industry....

Financial planning

Former company director jailed for fraud

A former company director has been sentenced to over two years in jail for fraudulently misappropriating almost $300,000 of investor funds in a property development in Qu...

Funds management

Promoter of non-existent fund has ban cut

A Queenslander who promoted a non-existent investment fund has had his ban from financial services cut by 25 per cent....

Policy & Regulation

Morrison outlines ASIC powers on banks

Federal Treasurer, Scott Morrison, flags meeting with ASIC later this week on issues of bank conduct....

Financial planning

Planning practices warned on sunsetting of LMDAs

Planning group Paragem has warned practices to look at their options as the ASIC Class Order permitting so-called Limited Managed Discretionary Accounts sunsets....

Financial planning

Will ASIC get additional funding to investigate banks?

The Federal Treasurer, Scott Morrison has indicated the Government may direct additional Budget funding to ASIC to assist it in investigating the conduct of the major ban...