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ASIC
Life/Risk
A Melbourne-based property developer will spend a minimum of three years behind bars for his role in misappropriating more than $750,000 of investors’ funds....
Policy & Regulation
GE Money has changed its promotion of personal loans and debt consolidation loans after ASIC found it to be potentially misleading....
Financial planning
A former Perth-based financial adviser has been permanently banned from the financial services industry over her conduct in advising SMSF clients....
Financial planning
Product intervention powers are a step in the right direction for ASIC in dealing with complex financial products, the regulator believes....
Policy & Regulation
ASIC chairman, Greg Medcraft says the regulator supports robo-advice but also acknowledges problems such as meeting best interests duty and compensating for bad advice....
Superannuation
The Federal Court has imposed a $25,000 penalty on Superannuation Warehouse Australia following ASIC action over false and misleading advertising....
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, ...
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The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...