ASIC

Financial planning

Mortgage broking firm changes Chinese advertising

A mortgage broking firm has changed its Chinese-language advertisements after ASIC was concerned their statements could be misleading or deceptive....

Financial planning

ASIC funding model 'one-size-fits-all'

The paper on an industry funding model for ASIC fails to highlight its merits compared to alternative models working well in other jurisdictions, the Governance Institute...

Financial planning

ASIC bans seventh adviser in WMP crackdown

ASIC’s Wealth Management Project has seen another former Commonwealth Financial Planning Limited adviser banned from providing financial services....

Policy & Regulation

ASIC counts scalps from Wealth Management Project

ASIC has pointed to six bannings from its “Wealth Management Project” focused on the largest wealth management firms, including the major banks....

Policy & Regulation

Cost of ASIC chairman’s international travel revealed

Taxpayers spent more than $120,000 ferrying ASIC chairman, Greg Medcraft, and his staff to international events in the 2015 financial year....

Financial planning

ASIC starts investigation into Money Market Accounts

In more fall-out from its investigation into the Sherwin Group of companies, ASIC has started an investigation into the operation of Money Market Accounts held by Sherwin...

Financial planning

Convicted fraudster banned from company directorships

ASIC removes New Zealand convicted fraudster from being a company director, who repeatedly approached Australian firms to offer financial services, despite being banned f...

Financial planning

Australian global ID regime launched

Coding agency, APIR, launches a legal entity identifier portal for Australian financial markets, meaning companies can get codes through the portal instead of offshore....

Financial planning

ASIC cancels WA insurer licence

ASIC has cancelled the AFSL of a Western Australian insurance provider for breaches of various reporting, financial and other licensee obligations....

Financial planning

ASIC cancels Dunfo Capital’s licence

ASIC has cancelled Dunfo Capital’s AFSL after giving the firm six months to meet its legal obligations and licence conditions. ...

Financial planning

ASIC releases licence approval numbers

ASIC received 970 AFSL applications during the January-June period, with nine licences suspended and a further 98 cancelled....

Financial planning

ASIC accepts EUs from former AMP representatives

ASIC has accepted an EU from a former Millennium3 representative, and an AMP representative father-son duo following concerns over their compliance with the law. ...

Life/Risk

Insurance adviser banned for three years

ASIC has banned a life insurance adviser for three years after he did not meet adviser standards expected and failed to comply with financial services law....

Financial planning

Reams of paper won’t stop bad decisions: ASIC

ASIC said documentation won't change consumer biases and behaviours, and has called on institutions to lead consumers to appropriate choices while examining their own cul...