ASIC

Superannuation

Superannuation industry at odds over SuperStream costs

The SMSF Professionals' Association of Australia (SPAA) has hit back at calls for self-managed super funds to pay more towards the SuperStream levy....

Editorial

Is time running out for FOFA and Bill Shorten?

Given the end of the 2011/12 financial year also represents the start of a 12 to 14-month countdown to the next federal election, the time available for Bill Shorten to m...

Superannuation

A snapshot of the superannuation borrowing landscape

David Barrett briefly addresses two major challenges that loom for financial advisers: providing the strategic advice associated with a potential recommendation for a sup...

Financial planning

Federal Court orders wind-up of Australia AFT Finance Market

ASIC has obtained declarations and orders in the South Australian Registry of the Federal Court against Australia AFT Finance Markets....

Financial planning

Former Guardian FP adviser pleads guilty to dishonest conduct

A former adviser for Guardian Financial Planning has pleaded guilty in the Downing Centre Local Court to falsifying 65 insurance applications in order to collect commissi...

Financial planning

Cold-call scammer found guilty

City Index Australasia and its director Blair Jason Travers have been found guilty in Melbourne's Federal Court of a cold-calling scam that promised to generate returns f...

Superannuation

ASIC to develop test for SMSF auditors

Government outlines basis for registering SMSF auditors while ASIC will devise a competency exam in consultation with the industry....

Superannuation

ICAA welcomes auditor registration regime

The Institute of Chartered Accountants in Australia has welcomed the auditor registration regime but with some caveats....

Superannuation

SMSF auditors should 'wait and hold' on licensing

The cost of registering as a self-managed superannuation fund (SMSF) auditor is likely to be in the hundreds of dollars rather than thousands, according to SMSF Professio...

Superannuation

Antisocial media policy advice

The deepening use of social media for member communication is pushing superannuation funds closer to transgressing the legal frameworks set in place to govern general and...

Policy & Regulation

FOFA passes, but confusion over enshrining 'financial planner'

The Government’s Future of Financial Advice (FOFA) legislation passed through the Senate yesterday, but there seems to be some confusion over whether the terms 'financial...

Financial planning

BMW pays for breaching National Credit Code

BMW has been ordered by ASIC to repay $1,392,667 to customers after the car financer breached the National Credit Code....

Financial planning

Cutting the pay-for-ratings model could be a 'game changer'

With submissions being considered by ASIC, it is essential that the financial services industry understands the potential ramifications of removing the current pay-for-ra...