ASIC

Policy & Regulation

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 ...

Financial planning

AAT varies ASIC ban of former ANZ adviser

The tribunal noted that the adviser has suffered with loss of employment and was the sole breadwinner as a single mother, and thus should have a reduced penalty....

Financial planning

ASIC releases limited advice guidance

Advisers giving limited advice will need to explain what advice they cannot provide and the implications to fulfil best interests duty....

Financial planning

ASIC levy relief ‘biggest win’ for 2021

Relief from the corporate regulator levy, which could have tripled in three years without action, is the biggest win for the industry this year, according to the Associat...

Financial planning

ASIC will continue to use EUs

The Australian Securities and Investments Commission has said it will bring back the use of the enforceable undertakings....

Financial planning

Call for feedback on ASIC effectiveness

A body to monitor the regulators has begun its first review into the Australian Securities and Investments Commission and expects to provide a report by July 2022....

Funds management

La Trobe fined for misleading investors in $5b fund

The firm was fined for false and misleading marketing of its $5.15 billion Australian Credit fund over three years....

Financial planning

Four FASEA exams sittings in 2022

There will be ‘probably’ four sittings of the financial adviser exam in 2022, according to the corporate regulator....

Superannuation

ASIC asked to monitor Sect 56 communication by QSuper

QSuper will have to communicate clearly with members of Sunsuper, ahead of their merger in February, that they could be liable to pay a fee for fines or penalties incurre...

Outsider

A memorable appearance

Appearing before the Senate economics committee via video link with all the associated technical difficulties and political grilling must be a nerve-wracking experience, ...