ASIC

Financial planning

ASIC cancels Lion Advantage's AFS licence

ASIC has cancelled the Australian financial services licence of Lion Advantage and banned its chief executive David Hickie from providing financial services for two years...

Financial planning

'Crowd funding' operators come under ASIC scrutiny

The Australian Securities and Investments Commission (ASIC) has issued guidance to promoters of 'crowd funding' in order to provide clarity on arrangements that may fall ...

Financial planning

ASIC identifies mis-selling by securities dealers

ASIC targets securities dealers over mis-selling and inadequate advice....

Policy & Regulation

No difference in treatment of scaled and holistic advice

ASIC signals it will apply the same rules to both scaled and holistic advice....

Financial planning

ASIC finds asset consultant fee structures conflicted

The financial services regulator has identified conflicts of interest present in asset consultant business models, which it said needed to be managed properly....

Financial planning

Opposition puts regulators on notice

Opposition puts regulators and industry funds on notice referencing parliamentary accountability and competitive neutrality....

Financial planning

ASIC warns on necessity of EDR scheme membership

ASIC cancels credit licence and warns on need for EDR scheme membership....

Financial planning

Planner bonuses defy FOFA

Financial planning groups are restructuring salary models to make sure their planners are rewarded after the ban on commissions officially comes in on 1 July 2013....

SMSFs protected against fraud, says SPAA

Claims that SMSFs have no recourse against fraud and theft are simply not true, according to SPAA....

Life/Risk

FSC announces new insurance framework

Financial Services Council chief executive John Brogden has announced a new life insurance sales policy revolving around the clawback of commissions if a policy lapses in...

Policy & Regulation

Scaled advice fits under best interests: ASIC

The regulator has confirmed scaled advice can be provided under best interests duties outlined in Future of Financial Advice changes....

Financial planning

Codes of conduct spark debate

ASIC said it is currently unable to provide clarity on some key licensee concerns....

Policy & Regulation

Regulators stressed by changes too

Australia's two financial services regulators have acknowledged the level of stress and uncertainty being experienced by financial services companies as a result of the G...

Financial planning

Morrison Carr director not of good fame, says ASIC

ASIC confirms reasons for cancelling Morrison Carr licence and director banning....

Editorial

When name calling hurts

Mike Taylor writes that the reputational damage often suffered by the financial planning industry might be substantially reduced if regulators and the media were a little...