ASIC

Financial planning

ASIC to take ‘practical’ and ‘reasonable’ approach to disciplinary body

The corporate regulator also expects its focus on financial advisers to decline and looks to provide better examples of records of advice to decrease the compliance burde...

Financial planning

Finfluencers not to be banned: Hume

Jane Hume said she has no interest in perpetuating a ‘nanny state culture’ where it resorts to banning things to save people from their own follies such as making financi...

Policy & Regulation

ASIC permanently bans ex-adviser

The corporate regulator has permanently banned Ross Andrew Hopkins from providing financial services after it found he had made 167 unauthorised transfers totalling $2.94...

Financial planning

How many advisers support associations?

Under 40% of financial advisers are members of the largest professional body representing financial planners in Australia, according to data....

Financial planning

Don’t shut first-time investors out of advice: SAFAA

First-time investors currently sourcing information from social media should not be shut out of receiving financial advice in the future as a result of public policy. ...

Financial planning

Advisers must start to understand DDO requirements

Prior to now, advisers were not in a position to deal with understanding the design and distribution obligations but now is the time given the raft of information coming ...

Financial planning

ASIC releases DDO FAQ for advisers and licensees

With the design and distribution obligation regime set to begin in less than three weeks, the corporate regulator has released guidance on what is most important for fina...

Policy & Regulation

Registration revoked for Halifax auditor

Former Halifax Investment Services lead auditor, Robert James Evett, has been found to not be a fit and proper person to remain registered as an auditor following his con...

Financial planning

Regulation turning advisers into ‘admin assistants’

Mounting regulation is turning advisers into “admin assistants with Government records” and Government intervention is needed to maintain limited licensees in the industr...

Superannuation

Criminal charges brought against ME Bank

The corporate regulator has alleged misconduct against the bank’s home loan clients while it was still under ownership of the industry superannuation funds....

Financial planning

DDO changes to remove nil complaint requirement

The Government is seeking to make amendments to the design and distribution obligation regime including removing the requirement for advisers and licensees to report whet...

Financial planning

Litigation still on the cards for ASIC

The corporate watchdog’s chair, Joe Longo, has no plans to let up on the body’s litigation commitment despite pulling back on the public emphasis his predecessor had plac...

Policy & Regulation

ASIC chair probed on governance review of regulator

The corporate regulator’s new chair, Joe Longo, believes that reading the publicly available report of the regulator’s governance practices is sufficient and has not aske...

Financial planning

Group faces 72 criminal offences after alleged phoenix activity

Four associates and a lawyer have been charged with criminal offences after Members Alliance and Benchmark groups collapsed with the corporate regulator alleging the grou...