ASIC

Financial planning

Provisional liquidators Leanne Chesser and Craig Shepard have been appointed to investigate financial services provider Ostrava Equities in response to an application by ...

Financial planning

Advice industry problems systemic: Kell

The financial advice industry is facing systemic issues rather than being plagued by just a few bad apples, says ASIC deputy chairman, Peter Kell....

Superannuation

ASIC takes another look at ‘compare the pair’

The Australian Securities and Investments Commission has taken another look at the ISA’s compare the pair advertising campaign amid Senate suggestions it does not compare...

Financial planning

FPA concerns over ASIC funding model

The FPA has provided Treasury with its submission on the proposed industry funding model for ASIC. In its submission, the FPA has highlighted its concerns about the equit...

Editorial

When balance is needed on EDR

If planners and licensees are asked to cede ground on the monetary and time limits which apply to FOS claims, then consequent FOS decisions must be laid open to appeals, ...

Financial planning

Fed Court appoints Ostrava liquidators

Following an ASIC investigation on contraventions of the Corporations Act, Ostrava Equities and its related equities have been appointed provisional liquidators....

Financial planning

AFSL holder requests licence cancellation

A wholesale service provider’s AFSL has been cancelled by ASIC at the business’s request, two months after the regulator suspended it....

Financial planning

ASIC bans NSW insurance broker

ASIC has permanently banned Isaac Hakim from providing financial services after he misled clients on broker fees and insurance premiums....

Life/Risk

Property spruiker gave unlawful advice for five years

Park Trent Properties Group has been found to have given unlawful advice to over 860 people to establish and switch funds into an SMSF....

Policy & Regulation

Govt delivers on financial planner enshrinement

The Government’s FSI response has delivered on higher educational standards for planners together with enshrinement of the term “financial planner/adviser”....

Financial planning

ASIC should outlaw robo-advice

Wealth Today managing director, Greg Pennells, has called for robo-advice to be outlawed, calling it a ridiculous innovation that takes a one-size-fits-all approach to fi...

Policy & Regulation

Retail derivative issuer’s AFSL cancelled

LSG Group’s AFSL has been cancelled by ASIC after it failed to comply with the conditions on its licence and financial services laws....

Financial planning

ASIC’s WMP claims eighth adviser

ASIC has announced the permanent banning of a former Westpac authorised representative from providing financial services....

Policy & Regulation

ASIC funding model needs transparency

The AIST called for transparency on ASIC’s industry funding model, cautioning against any decision-making until a cost recovery impact statement was available. ...

Outsider

Life at the sharp end

Every once in a while, about as often as a solar eclipse, Outsider’s employer allows him to travel up the front of an aeroplane, usually meaning a seat in business class...