ASIC
Financial planning
An Australian financial services business has agreed to cease providing services in Japan after an inquiry by ASIC found it was not licenced by the Japanese regulator....
Life/Risk
AFA and FSC form working body while FPA calls for insurance providers to review their offerings...
Life/Risk
More than a third of life insurance advice has not been appropriate according to a review conducted by ASIC....
Financial planning
Commonwealth Bank of Australia consumers who have not claimed funds left on expired Travel Money Cards within 12 months of the expiry will no longer forfeit the cash to t...
Financial planning
MFAA claims mortgage brokers have not been through any major scandals as a result of lower levels of risk and the application of higher professional standards...
Financial planning
A former director of an Australian financial services licence holder received a 12-month suspended sentence and a $10,000 fine after pleading guilty to fraud charges....
Financial planning
Melbourne based advice group to boost its compliance and retrain advisers after ASIC raised concerns about appropriateness of SMSF related advice....
Financial planning
NAB has paid $10,200 in fines after ASIC found the bank made misleading statements in its annuity term deposit PDS....
Life/Risk
A NSW insurance broker has been permanently banned from providing financial services after an ASIC investigation found he engaged in “dishonest conduct”....
Financial planning
ASIC has suspended the licence of a boutique planning group for three months for a failure to comply with its compliance obligations...
Financial planning
ASIC reports it has refused applications for relief including one from a planner who requested the use of the word ‘independent’ to describe their practice....
Financial planning
ASIC has subjected a mortgage scheme operator to additional AFSL conditions after it failed to meet various obligations....
Editorial
With a third of FOS determinations going unpaid the efficacy of Professional Indemnity insurance as a compensation mechanism is under question and, as Mike Taylor reports...
Editorial
While ASIC is right to pursue more timely breach reporting by financial planning firms it should acknowledge that the vast majority more than live up to their obligations...
Financial planning
A NSW-man has been permanently banned from providing financial services after he was found to have misled clients into believing he could provide them with “exclusive acc...
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The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...