ASIC

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. ...

Financial planning

FAAA pushes for greater ASIC levy transparency

In a statement to the Senate Economics References Committee, the Financial Advice Association Australia has made recommendations to the corporate regulator to better achi...

Financial planning

Former ASIC chair let down by regulator over 'soul destroying' smear campaign

James Shipton has called out his former employer for failing to support or protect him during a six-month abusive ad campaign in 2020 by a defendant charged with offenses...

Financial planning

Former Sydney adviser has assets frozen amid ASIC investigation

ASIC has commenced “urgent proceedings” in the Federal Court of a former Sydney financial adviser amid an investigation regarding fees charged to client super funds. ...

Financial planning

Federal judge calls for industry to scrap the ‘grandfathering’ term

In a curious aside to ASIC’s appeal of the CBA/Colonial First State judgment, the judge has taken issue with the financial services industry’s use of the term ‘grandfathe...

People & Products

ASIC makes executive team appointments

The corporate regulator has announced several appointments to its executive leadership team, as it reaches the final stages of executing its new organisational structure....

Policy & Regulation

US and UK-style restrictions unnecessary for MISs

Proposals to place US or UK-style restrictions on products in the Australian managed investment schemes would be “radical” when ASIC already has significant product inter...

Superannuation

ASIC loses court bid to CommBank, Colonial First State

The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefi...