ASIC

Financial planning

FOFA a prerequisite for professionalism – Kell

ASIC Commissioner Peter Kell suggests embracing the purpose of FOFA is necessary for planning to become a profession....

Life/Risk

ASIC will not give up on churn issue

There have been too many bad practices with respect to churn for the regulator to abandon this issue, according to ASIC Commissioner Peter Kell....

Life/Risk

Inaction on churn could trigger ASIC regulations: Brogden

John Brogden said the industry’s failure to self-regulate on churn carries the risk of regulator action....

Policy & Regulation

ASIC excessive on conflicted remuneration: Tria

Some measures within ASIC’s guidance on conflicted remuneration appear to be excessive, according to Tria Investment Partners managing director Andrew Baker....

Policy & Regulation

Credit licence banned in ASIC’s targetting of dodgy operators

Following ASIC’s introduction of new credit reforms, an operator and its director have been banned from conducting any credit business....

Superannuation

SMSF sector now too big for the regulators to ignore – or let fail

Mike Taylor writes that recent actions on the part of both ASIC and APRA suggest that the SMSF sector has become too large for any of the regulators to ignore....

Editorial

SMSF sector now too big for the regulators to ignore – or let fail

Mike Taylor writes that recent actions on the part of both ASIC and APRA suggest that the SMSF sector has become too large for any of the regulators to ignore....

Financial planning

ASIC paper ‘ahead of the curve’: IMAP

The Institute of Managed Account Providers (IMAP) chair Toby Potter says the regulator’s proposed guidance on managed discretionary accounts (MDAs) recognises their impor...

Funds management

ASIC puts MDAs under review

Managed discretionary accounts (MDAs), which allow advisers to run direct equities portfolios for their clients, are under review by the Australian Securities and Investm...

Policy & Regulation

Expect FOFA 'tweaks' for 18 months

Financial planning software provider COIN expects to be conducting Future of Financial Advice (FOFA) adjustments for the next 18 months. ...

Superannuation

Super funds unlikely to meet deadline on statistics

APRA will probably phase in the new framework on statistical collection as many super funds are unlikely to meet the deadline, according to deputy chairman Ross Jones....

Financial planning

Lifespan denies Morrison Carr fall-out

Lifespan denies it has been subject to closer ASIC scrutiny because it recruited former Morrison Carr advisers....

Life/Risk

Choosi responds to adviser concerns

Insurance comparison website Choosi has responded to concerns raised by some risk advisers about its marketing strategy and service to consumers....

Funds management

Ex-director banned for life for Trio involvement

The ex-director of Astarra AM has been banned for life after contributing to the collapse of Trio Capital by failing to comply with financial services law. ...