ASIC

Financial planning

Fired up ASIC chairman lashes planners

ASIC chairman, Greg Medcraft admits he's fired up and heartbroken over bad financial planners. ...

Financial planning

Lobbying did not stall adviser education standards: ASIC

ASIC has vehemently denied being swayed by lobbying groups to suspend its adviser competency push. ...

Financial planning

Mortgage lender censured for inappropriately using an ASIC trademark

A mortgage lender has been forced to rename one of its loan products after failing to realise that ‘MoneySmart’ has been traded marked by ASIC....

Financial planning

Financial services behind on electronic disclosures: ASIC

Australia’s regulatory and legal system has not kept pace with industry and consumer demand for electronic disclosures, according to ASIC. ...

Financial planning

ASIC claims licensee changes not creating consistent advice standard

ASIC has reiterated its calls for a national exam stating that recent changes around education still did not guarantee a consistent national standard for advice....

Financial planning

ASIC starts civil action against Make it Mine

ASIC has launched legal action against Make it Mine Finance for violating consumer credit laws, including responsible lending duties....

Financial planning

Payday lender cops $42k fine

ASIC has issued a $42,500 penalty on payday lender Abaz Pty Ltd for failing to get the necessary account statements from consumers....

Financial planning

Credit licence director banned for 10 years

ASIC has cancelled the Australian credit licence of Net Finance (Corp) Pty Ltd and banned its director, Graham Tandy, from the credit industry for 10 years....

Financial planning

Whose AFSL are union officers working under?

ASIC has answered parliamentary questions about superannuation union liaison officers, the type of advice they can provide and whose AFSL they might be working under....

Financial planning

Banned adviser jailed for stealing shares worth $1.5m

A former financial adviser has been jailed after being found guilty of stealing shares worth almost $1.5 million to meet margin calls on his mother’s margin lending accou...

Life/Risk

Cormann to address Sydney breakfast

The Minister for Finance and Acting Asistant Treasurer, Senator Mathias Cormann will address a Money Management breakfast traversing key issues....

Life/Risk

Are risk commissions out of line with best interests?

Risk commissions may be a mis-match for best interests duties, with the current product-driven framework incentivising insurance options that could distract advisers from...

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...