ASIC

Financial planning

Regulatory investment a 'good faith' move

Having suitable breach reporting systems will go a long way to show licensees are pro-actively dealing with regulatory changes to the corporate regulator, even though it ...

Financial planning

Has enough been done to slow adviser exits for 2022?

Opening the November exam to all advisers and the conditional September 2022 extension could drastically improve how many advisers are on the Financial Adviser Register a...

Superannuation

ASIC needs to demonstrate levy appropriateness

The corporate regulator’s increased levy will be ultimately be borne by superannuation fund members through administration fees and will be reflected in their future reti...

Policy & Regulation

CBA required to publish misconduct notices

As part of its penalty for overcharging interest on business overdraft accounts, which it has been forced to pay $7 million, it will also be required to publish misconduc...

Financial planning

Advisers need sufficient understanding of Oct reforms

There is likely to be broad issues with lack of awareness and preparedness with the five reforms coming into play in October, according to the Association of Financial Ad...

Policy & Regulation

Industry bodies unite against CSLR draft

Eight industry associations say the compensation scheme of last resort will become a “go to” rather than a last resort and excludes product providers from accountability....

Financial planning

SAFAA welcomes ASIC reform approach

The Stockbrokers and Financial Advisers Association has welcomed the announcement from the corporate regulator regarding its “reasonable approach” in the early stage of t...

Financial planning

Federal Court proceedings launched against unregistered MIS

Monica Kaur and MKS Property Investments/Developments are alleged to have operated an unregistered managed investment scheme and provided unlicensed financial advice to c...

Financial planning

ASIC to take 'reasonable' approach in early stages of reforms

ASIC will take a reasonable approach in the early stages of the reforms arising from the Royal Commission provided industry participants are using their best efforts to c...

Financial planning

How much ASIC spent on its unmet advice needs project

The corporate regulator has revealed how much it has spent on its unmet advice needs project and that it does not intend to release the 466 submissions to its access to a...

Financial planning

Govt failed on financial advice reforms: Labor

The opposition has said the Government’s financial reforms have caused uncertainty and unnecessary costs for thousands of financial advisers....

Funds management

REs get COVID-19 pass mark

The corporate regulator found responsible entities handled the challenges of illiquid asset valuation during the early stages of the COVID-19 pandemic well, but there are...

Editorial

Bodies behind exorbitant advice costs need to be held accountable

Compliance and regulation have been touted as the biggest reasons for the increase in advice costs and the Government needs to hold the bodies responsible accountable for...

Features

When practice management gets tough

Running a financial advice practice has never been harder, Jassmyn Goh writes, and advisers must find efficiencies and restructure their revenue sources to deliver their ...

Financial planning

High fees leaving consumers seeking advice via TikTok

Social media influencers taking kickbacks is no different to the ‘bad old days’ of commission, according to one MP, as the regulator cracks down on ‘finfluencers’. ...