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ASIC
Funds management
Australian financial services licensee, Online Capital Markets, has paid $30,600 in penalties after receiving three infringement notices from ASIC for misleading online a...
Life/Risk
ASIC has criticised the funeral insurance market, saying funeral insurance premiums continue to rise steeply for the over-50s, resulting in many people cancelling their p...
Financial planning
Charging clients passive fees was rampant in the financial advice industry, but there is a shift post-FOFA, Peter Kell said....
Funds management
The Federal Court of Australia has appointed two provisional liquidators from Deloitte to conduct an investigation into Avestra Asset Management....
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
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
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
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
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
Following an ASIC investigation on contraventions of the Corporations Act, Ostrava Equities and its related equities have been appointed provisional liquidators....
Financial planning
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 has permanently banned Isaac Hakim from providing financial services after he misled clients on broker fees and insurance premiums....
Life/Risk
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
The Government’s FSI response has delivered on higher educational standards for planners together with enshrinement of the term “financial planner/adviser”....
Financial planning
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...
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MARKET INSIGHTS
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...