ASIC

Policy & Regulation

Colonial and CBA conflicted remuneration case dismissed

Regulatory action against Colonial First State and Commonwealth Bank alleging breaches of conflicted remuneration laws have been dismissed by the Federal Court....

Financial planning

Millions awaiting remediation as ASIC calls for improved systems

There has been a “trifecta of failures” in the remediation of consumers, according to the corporate regulator, with around $1.6 billion still to be paid to 2.7 million co...

Financial planning

AMP fined $14.5m for fees for no service

AMP Limited has been fined $14.5 million by the Federal Court for charging fees for no service to 1,452 superannuation members with the judge criticising the firm’s failu...

Financial planning

Former Perth adviser pleads guilty to dishonest conduct

A former financial adviser has pleaded guilty to providing a financial service on behalf of a person who carries on a financial services business while unauthorised to do...

Financial planning

ESG cannot be ignored by advisers

Advisers have a vital role to play in helping investors to understand environmental, social and governance, according to Zenith, with performance likely to be scrutinised...

Policy & Regulation

Dixon Advisory fined $7.2m for breaches

Dixon Advisory and Superannuation Services has been penalised $7.2 million by the Federal Court....

People & Products

Mayfair 101 director ban overturned

The 20-year ban on Mayfair 101 director, James Mawhinney, from advertising investments or raising funds has been overturned by the Federal Court....

Funds management

ASIC invokes interim stop orders on two funds

ASIC has made interim stop orders on two property funds after failings with their target market determination statements....

Funds management

ESG investors fearful of greenwashing risk

Greenwashing is a resounding theme for environmental, social and governance (ESG) investors, specifically the regulatory action directed at fund classifications, a Barcla...

Policy & Regulation

ASIC flags concerning marketing in 18 funds

Some 18 funds with $1.4 billion in assets under management have voluntarily amended their marketing materials after a surveillance operation by the regulator....

Policy & Regulation

ASIC extends binary options ban

The Australian Securities & Investments Commission (ASIC) has extended its ban on brokers offering binary options to retail traders until October 2031....

Life/Risk

ASIC: Life insurers need to do more on claims handling

The Australian Securities and Investments Commission (ASIC) has raised more concerns over life insurance claims handling by some insurers....

Financial planning

More than half pass adviser exam

Some 52% of financial advisers have passed the latest financial adviser exam, figures from the Australian Securities and Investments Commission show....

Policy & Regulation

ASIC warns brokers on high-risk products

The Australian Securities and Investments Commission (ASIC) has warned brokers to be careful about or reconsider offering high-risk products and services to retail invest...

Superannuation

ASIC urges super trustees to improve target market determinations

The Australian Securities and Investments Commission is calling on superannuation trustees to improve the effectiveness of target market determinations after a sample rev...