ASIC

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...

Editorial

Laggard accountants risk regulatory whipping

Accountants continue to drag their feet with respect to the new limited licensing regime but, as Mike Taylor reports, they risk provoking a regulatory shadow shop. ...

Policy & Regulation

CPA Australia pricing licensing with caveats

CPA Australia Advice has set out the pricing around its accoutants licensing offer with the caveat that it all depends on ASIC granting an AFSL....

Policy & Regulation

ASIC moves against Westpac on BBSW

ASIC has initiated court action against Westpac Banking Corporation over alleged manipulation of the bank bill swap rate....

Financial planning

Ex Aussie mortgage broker faces jail sentence over $2.7m loan fraud

A former Aussie mortgage broker is facing a potential jail sentence over allegations she falsified loan applications totalling $2.7 million....

Financial planning

ASIC maintains planner surveillances

Eighteen months after it began its Wealth Management Project, ASIC confirms it is maintaining its surveillance of planners....

Financial planning

Decimal launches robo-advice packages

A purpose-built, client focused package could signal major turning point for the international and Australian industry, says CEO Nic Pollock. ...

Policy & Regulation

ANZ to refund low income customers $5 million due to glitch

Australia and New Zealand Banking Group (ANZ) is refunding $5 million to basic account holders for incorrect late payment and over limit fees. ...

Superannuation

ASIC accepts EU from SMSF advice provider

CMH Financial Group is under an enforceable undertaking after ASIC found the firm to be giving SMSF advice that was not in their clients’ best interest....

Financial planning

Industry to go paperless?

The Australian Securities and Investments Commission (ASIC) has given the green light to businesses to provide customers with information in digital form....