ASIC

Financial planning

Commonwealth Financial Planning whistleblower Jeffrey Morris claims ASIC failed to act to cover its own incompetence....

Financial planning

ASIC’s penalty structure lags globally

Australia’s corporate regulator is severely limited in the range and severity of penalties it can hand out for wrongdoing - particularly compared to the US and UK, a revi...

Financial planning

ASIC set to cut staff

ASIC is facing a permanent reduction in funding and is looking to cut staff as a result....

Superannuation

SMSF provider slapped with $10k fine

A self-managed super fund (SMSF) provider has paid a $10,200 infringement notice penalty for misleading advertising on the cost of setting up an SMSF....

Financial planning

ASIC cancels licence of securities adviser

Business of securities adviser subject to an enforceable undertaking has licence cancelled....

Financial planning

Commsec fined $55,000

Commsec has been fined $55,000 after an erroneous order for a telecommunications product skewed the market price....

Editorial

Detecting the self-interest in criticisms of FOFA changes

Based on recent media coverage, it would be easy to believe that the Abbott Government was quite recklessly setting about dismantling all the consumer protections contain...

Policy & Regulation

Sinodinos says ASIC will monitor FOFA changes

The Assistant Treasurer, Senator Arthur Sinodinos, says ASIC will monitor FOFA changes to ensure they are meeting their objectives....

Financial planning

ASIC mute on FOS structure

The corporate regulator welcomes FOS’ focus on timeliness, but makes no mention of long-term structural change....

Financial planning

New registration requirements rule out white labelling

A new system of registering business names has rendered white labelling almost impossible, a financial services legal firm believes....

Financial planning

ASIC warns of lending scam

ASIC warns on offshore lending scam which has impacted some Australian consumers....

Funds management

Regulatory regime for MIS can be simplified

Regulations for managed investment schemes (MIS) may be aligned with that of companies, according to a discussion paper released by a government advisory body....

Editorial

ASIC’s planner education future

Mike Taylor writes that ASIC chairman Greg Medcraft has laid out how the regulator sees the future of financial planner education – and the challenge will be how the indu...