ASIC

Financial planning

A life/risk adviser has been banned for four years by ASIC who acted on information provided by his licensee, Risk Advice Specialists, which has ceased to trade....

Financial planning

Former credit rep gets 350 hours community service

A former credit representative has been given 350 hours of community services after investigations by ASIC found he was guilty to three charges of creating false document...

Financial planning

Former Provident Capital director gets banned

ASIC has banned a former Provident Capital director from providing financial services for two years, after finding he had engaged in misleading or deceptive conduct in re...

Financial planning

ASIC faces uphill battle on payday crackdown

Payday lender Money3 will refund $100,000 to consumers following breach concerns from ASIC, despite finding it did not violate its responsible lending obligations....

Life/Risk

Consumer insurance ‘champion’ operated without licence

ASIC has forced One Big Switch to review its legal compliance after the group operated without a licence....

Financial planning

Banned planner charged over $10m fraud

Banned Queensland-based planning principal, Bradley Thomas Sherwin, will face 34 charges relating to fraud following an ASIC investigation....

Funds management

Asset managers do not pose financial risks

Large scale asset managers have not added to financial instability but weathered the financial crisis well according to ASIC and IOSCO chair, Greg Medcraft....

Policy & Regulation

ASIC loses legal bid to disqualify Mariner directors

ASIC has lost a legal action to penalise Mariner and past and current directors relating to a proposed takeover offer for Austock....

Life/Risk

ASIC pursuing life/risk enforcement despite Trowbridge

ASIC signals that despite the industry’s position responding to Trowbridge, it is continuing to pursue enforcement over life/risk misconduct....

Financial planning

Medcraft ready to use $50m ‘war chest’

ASIC chairman, Greg Medcraft says the regulator has a $50 million war chest that he’s ready to use against banks, planners and other miscreants....

Financial planning

NZ man previously convicted in US gets ban from ASIC

A New Zealand man who spent 60 months imprisoned in the US has been permanently banned from providing financial services by ASIC after offering unlicensed financial servi...

Policy & Regulation

ASIC gets EU pass mark, with caveats

The Auditor-General has given ASIC a pass mark on how it handles EUs, agreeing it does not favour the big end of town but urging more transparency around negotiated outco...