ASIC

Financial planning

ASIC moves against LM Investment Management directors

ASIC has begun civil proceeding against the founder and former directors of LM Investment Management Ltd alleging the directors failed in their duties to act with diligen...

Policy & Regulation

ASIC urged to be facilitative on FOFA

The FPA has urged a facilitative approach from ASIC as planners seek to comply with the Senate imposed FOFA reversal....

Superannuation

ASIC makes retirement estimates safer

Towers Watson points to key retirement estimate benefits flowing from ASIC guidance....

Financial planning

Charge dropped for Storm Financial adviser

A former Storm Financial adviser has had a charge against him dropped after an elderly witness deemed critical to the prosecution’s case died, ASIC reports. ...

Financial planning

ASIC bans Victorian adviser for unauthorised activity

A Victorian financial adviser has been banned from providing financial services for seven years after an ASIC investigation found he had breached “numerous financial serv...

Financial planning

ASIC appoints forensic specialist to examine CBA planning licences

ASIC has appointed KordaMentha Forensic to identify high risk advisers within Commonwealth Financial Planning and Financial Wisdom and to review the licence conditions of...

Financial planning

ASIC warns against ‘gaming’ general advice

ASIC deputy chairman, Peter Kell warns against ‘gaming’ the general advice regime....

Financial planning

ASIC accepts EU from Aurora

ASIC has accepted an enforceable undertaking (EU) from Aurora as part of the regulator’s wider surveillance of the hedge fund sector....

Financial planning

ASIC to conduct intra-fund advice surveillance

ASIC deputy chairman, Peter Kell has confirmed intra-fund advice is on the regulator's surveillance radar....

Superannuation

ASIC takes alleged SMSF spruiker to court

The Australian Securities and Investments Commission (ASIC) has taken its case against a property company to the Supreme Court, arguing the group is spruiking the use of ...

Accounting

ASIC warns on accounting assumptions

ASIC to focus on accounting treatment and assumptions....

Financial planning

ASIC wins court victory but opts out of further action against manager

ASIC has won a legal battle with an investment manager that has dragged on for two years but will not take action to exact any form of penalty....

Financial planning

Trident pays $10,000 penalty

Trident Investment Management has paid a $10,200 fine for the potentially misleading promotion of some of its investment funds. ...

Financial planning

Former Astarra director loses banning appeal

Former Astarra Asset Management director Eugene Liu will remain banned from providing financial services after the AAT affirmed ASIC’s original banning order....

Financial planning

Mariner take neutral role in ASIC action against former directors

Mariner has stated it would not take an active part in proceedings by ASIC against former directors but did not consent to Court orders sought by ASIC or admit to any all...