ASIC

Policy & Regulation

Leave stockbrokers out of ASIC cost recovery

The stockbroking industry should not be targeted in ASIC’s cost recovery program as most complaints are against financial planners. ...

Financial planning

Spring FG denies link to banned planner

Spring FG has denied any direct links to a planner permanently banned by ASIC....

Financial planning

ASIC imposes additional conditions on Advamode

ASIC has imposed licensing conditions on a Queensland-based financial services firm after identifying concerns over its ability to effectively carry out their supervisory...

Financial planning

Former SMSF adviser gets permanent ban

ASIC bans a former financial adviser after contravening financial services law when advising SMSF clients....

Policy & Regulation

Make user-pays equitable says FPA

The FPA supports user-pays funding for ASIC but only if it is equitable across the industry....

Financial planning

Bank planners in ASIC sights

The Australian Securities and Investments Commission has flagged that bank planners and vertical integration are on the enforcement agenda for 2015/16....

Policy & Regulation

User pays ASIC model to hurt consumers

Financial services users will be hit with increased costs if the Government pursues a ‘user pays’ funding model for ASIC, bankers warn....

Policy & Regulation

Govt seeks stakeholder views on ASIC funding model

Assistant Treasurer, Josh Frydenberg, has launched a public consultation to gage stakeholder views on the potential introduction of an industry funding model for ASIC....

Accounting

IPA urges members to act on limited licensing

The Institute of Public Accountants (IPA) has urged its members to heed ASIC’s warnings about time running out to pursue the new limited licensing regime....

Accounting

Accountants risk missing out on limited AFSLs

Accountants are being warned to start their applications for limited AFSLs now or risk missing the 1 July 2016 deadline....

Financial planning

Liquidator appointed for Perth licensee

A liquidator has been appointed for a Perth-based private investment company after ASIC lodged an application following complaints of fraud against the companies....

Accounting

Accountants failing to make AFSL cut

More than half of the 160 accountants who have applied for a limited AFSL have not been granted licences by ASIC....

Financial planning

ASIC still focused on bank culture and advice

ASIC has continued to express concerns around the culture of advice and frontline staff in banks, and has advised its enforcement teams to go for harsher penalties....

Policy & Regulation

ASIC suspends OTC derivative AFSL

After a change of directors the Australian Capital Markets Advisory Services was unable to meet its AFSL obligations, and as a result its license has been suspended....