ASIC

Financial planning

Adviser losses disappointing but not unexpected

The financial advice industry is finishing the year with a loss of 2,189 advisers, however the worst is yet to come, according to Wealth Data....

Funds management

ASIC’s intervention pace on Sterling was ‘reasonable’

The corporate regulator’s chair has argued that while it could have acted more quickly and could have published a media release more energetically on the Sterling case, i...

Financial planning

Govt proposes ‘experience pathway’ for advisers without degrees

The pathway will allow financial advisers who have 10 or more years of full-time experience in the last 12 years to only complete a tertiary level unit on the code of eth...

Financial planning

Former ANZ AR convicted

Former authorised representative of ANZ-owned Millenium3, Melinda Scott, has been convicted of managing a corporation whilst being disqualified from providing financial s...

Policy & Regulation

Court freezes assets of unregistered MIS

The corporate regulator has obtained interim orders from the Federal Court to freeze the assets of Ascent Investment and Coaching, as funds may have been raised and used ...

Financial planning

Charge against former AWSM director dropped

Australasia Wealth Services and Management director, James Feng, was accused by the corporate regulator for authorising the making of a false or misleading statement....

Financial planning

ASIC sues OnePath for fee-for-no-service

The corporate regulator has alleged OnePath incorrectly charged over $4 million in fees to more than 18,000 fund members when it was not entitled to do so....

Financial planning

ASIC cancels wealth manager’s licence

The regulator has cancelled the Australian financial services licence of Sydney-based firm Premier Wealth Management Financial Services and banned two of its directors....

Financial planning

ASIC seeks to restrain Tyson Scholz from promoting financial services

Tyson Scholz is suspected in carrying on a financial services business and promoting courses and seminars on Twitter and Instagram without a licence....

Policy & Regulation

ASIC signs MoU with Croatia

The corporate regulator has signed a new memorandum of understanding with the Croatian Financial Services Supervisory Agency regarding alternative investment funds....

Financial planning

ANZ marks final ASIC civil case from RC

The corporate watchdog’s civil penalty proceedings against ANZ mark the final investigation arising from matters considered by the Financial Services Royal Commission....

Superannuation

Avanteos pleads guilty for fees-for-no-service

Part of the Royal Commission final report, former Commonwealth Bank subsidiary Avanteos has pleaded guilty to 18 criminal charges which included charging fees to deceased...

Policy & Regulation

ASIC’s financial advice hub launched

The corporate regulator’s financial advice hub aims to be a single repository to help industry participants more easily find information....

Policy & Regulation

Financial markets resilient to cyber threats

The corporate regulator has found firms in financial markets have continued to show resiliency to cyber threats during the pandemic but a reallocation of resources has le...

Financial planning

Licensees should take ownership for cyber security

With the corporate regulator holding directors personally liable for cyberattacks, Licensees can no longer pass the buck of responsibility for their organisation’s cyber ...