ASIC

Financial planning

ASIC turns tables on consumers, dealer groups

Dealer groups and consumers must do their part to surveil the financial advice profession, with ASIC’s resources allowing it limited reign over the “high risk” industry, ...

Financial planning

Trio investment manager jailed

Former investment manager linked to failed superannuation fund Trio Capital, Tony Maher, was sentenced to 25 months jail for financial gain through misleading statements....

Financial planning

Commbank promises detailed response

Commonwealth Bank chief executive, Ian Narev has promised a detailed response to last week’s scathing Senate Committee report as Financial Services Minsiter, Senator Math...

Financial planning

Royal commission must consider ASIC's resources: Medcraft

ASIC says a royal commission into its handling of Commonwealth Financial Planning (CommFP) scandal would divert resources from other investigations it's currently pursuin...

Financial planning

Government cautious on Senate Committee recommendations

The future of the Seante Committee report into the performance of ASIC resides with the Government which is already signalling a cautious approach....

Financial planning

CBA refutes senator’s deflection claims

The Commonwealth Bank (CBA) has rejected a senator’s claims that it deliberately kept regulators in the dark and played down the seriousness its planning groups’ actions ...

Financial planning

Expect ASIC to be more rigorous

ASIC has signalled its oversight of enforceable undertakings is likely to be more rigorous....

Financial planning

ASIC should face regular reviews

ASIC should be subject to regular reviews while FOS should move to a higher award regime...

Financial planning

Report calls for higher education standards and enshrinement

Senate Committee recommends higher education, professional association membership and enshrinement of ‘financial planner’ in report on ASIC performance...

Financial planning

Senate report calls for adviser banning powers and increased penalties

ASIC should be given the power to immediately suspend financial planners who it suspects have engaged in misconduct according to Senate Committee....

Superannuation

ISA ads to continue despite 'bank campaign against them’

ISA claims bank owned super funds ran campaign to remove ads but will continue with them after making changes required by ASIC ...

Policy & Regulation

Call to harmonise advice/tax standards

ASIC, Treasury and the TPB have been urged to ensure the harmonisation of the standards applied to advisers....

Policy & Regulation

'Can you trust ISA on FOFA?’: AFA

Questions are being asked about Industry Super Australia’s integrity after its 'Compare the Pair’ advertising campaign was labelled as potentially misleading by ASIC....