ASIC

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...

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....