ASIC

Policy & Regulation

ASIC’s Press reflects on lessons from commissioner tenure

ASIC commissioner, Danielle Press, has reflected on her five years at the regulator as she steps down from the role....

Financial planning

ASIC’s August exam sees highest pass mark of 2023

The corporate regulator has revealed the results of its August financial adviser exam, which has delivered the highest pass mark of the year so far. ...

Features

Going for broke: The advisers stealing to feed gambling addictions

With three separate financial advisers facing criminal proceedings this year having struggled with gambling problems, access to client money combined with a stressful job...

Financial planning

Former van Eyk CEO permanently banned by ASIC

Former van Eyk chief executive, Mark Peter Thomas, has been permanently banned by ASIC for performing any function involved in running or controlling a financial services...

Superannuation

ASIC sues AustralianSuper in first joint APRA/ASIC case

ASIC has sued the trustee of Australia’s largest super fund, AustralianSuper, alleging failures to address multiple member accounts affecting 90,000 members over a decade...

Funds management

ASIC fires warning shot at OTC derivatives distributors

ASIC has taken aim at distributors of over-the-counter derivatives after a review found improvements are needed in how they meet design and distribution obligations, havi...

Financial planning

Why did ASIC ignore complaints about $180m Ponzi scheme?

ASIC has been rapped for ignoring multiple tip-offs about the $180 million Courtenay House Ponzi scheme, waiting four years to take regulatory action. ...

Funds management

Shipton writes to Chalmers and Jones on workplace safety

The former ASIC chair has penned an open letter to the Treasurer and Assistant Treasurer asking for their support following a Senate appearance that detailed work, health...

Funds management

ASIC commences civil penalty proceedings against Westpac

The corporate regulator has commenced civil penalty proceedings against Westpac for failing to respond to 229 customer hardship notices within the required time limit....

Funds management

ASIC issues stop order on K2AM fund

The regulator has made an interim stop order on a registered managed fund promoted by K2 Asset Management due to deficiencies in the target market determination....

Funds management

‘Greenhushing’ approach won’t help funds long-term: Zenith

While some fund managers overstate their ESG credentials and others remove their sustainable outcomes entirely, it is transparent communication that will be critical to a...

Financial planning

AAT grants temporary stay to director banned by ASIC

The appeals tribunal has granted a temporary stay order to a Queensland director who was banned by ASIC in March for failing to meet fit and proper person requirements. ...

Financial planning

Doctors or advisers – who face stricter regulation?

According to the former AFA submission to the Senate Economics Committee’s investigation into ASIC, there are “significant differences” in the treatment of misconduct in...

Policy & Regulation

ASIC welcomes new commissioners

With commissioner Danielle Press to depart ASIC next month, the Treasurer has appointed three new commissioners to the corporate regulator....

Financial planning

FAAA member numbers hit the ASIC FAR

Falling just short of previous forecasts, recent figures indicate FAAA members now comprise almost 50 per cent of the ASIC FAR, according to Wealth Data. ...