ASIC

Financial planning

Super funds have received a deadline extension to 1 July 2015 for compliance with fee and cost disclosure requirements....

Superannuation

ASIC cracks down on super websites

The Australian Securities and Investments Commission (ASIC) released guidance for superannuation funds and their trustees on information disclosure on their websites in a...

Financial planning

Former adviser to medicos permanently banned for dishonest conduct

ASIC permanently bans adviser after finding he disbursed client funds to parties related to the adviser....

Financial planning

CommFP says ASIC always knew

CommFP counters claims by ASIC that it was not informed of key elements of client compensation arrangements...

Editorial

Whistling up the watchdog

Mike Taylor writes that if the Senate Committee inquiry reviewing the actions of ASIC has achieved nothing else, it has has identified just how reliant the regulator has ...

Financial planning

Merrill Lynch pays $65k penalty

Merrill Lynch Equities (Australia) Limited has paid a penalty of $65,000 to comply with an infringement notice relating to a breach of the Corporations Act 2001. ...

Financial planning

ASIC acts against two advisers

ASIC has banned two advisers from providing financial services for up to five years. ...

Financial planning

BFP backs FPA on separating products from advice

The BFP claims a structural flaw has allowed banks, insurers and super funds to dress up product sales as advice....

Financial planning

ASIC claims CommFP was not “upfront”

ASIC chairman, Greg Medcraft admits ambiguity led to CommFP client compensation failures, but claims the bank was not “upfront”....

Editorial

Digging a deeper hole

Mike Taylor writes that the board of the Commonwealth Bank must be wondering how it was possible for the controversy around Commonwealth Financial Planning to get worse....

Policy & Regulation

ASIC executive claims pre-FOFA exploitation

ASIC executive claims consumer misunderstandings were exploited for the benefit of financial services providers....

Financial planning

Penalties not harsh enough: ASIC

Penalties for financial planners who breach the law are not severe enough, the Australian Securities and Investments Commission believes....

Financial planning

ASIC chair stresses pro-active enforcement actions

ASIC chair Greg Medcraft emphasises regulator’s enforcement efforts and states does best it can with resources to hand....

Financial planning

Industry to pay lower regulator levies

The financial services industry will pay $30 million less to be regulated after the Federal Government released details of the levies that it will be charged to fund the ...