ASIC

Financial planning

RI Advice found liable for RC 'case study' adviser

The Federal Court has found it is liable for failing to supervise former adviser John Doyle, who became a case study during the Royal Commission....

Financial planning

Parliamentarian calls 100-page SOA ‘absurd’

A 100-page statement of advice to satisfy lawyers has been branded as ‘absurd’ from a parliamentarian....

Superannuation

MySuper performance test results date released

The corporate watchdog will be checking communications from responsible superannuation entities to beneficiaries of MySuper funds that fail the Your Future, Your Super pe...

Policy & Regulation

Australasia Wealth’s former director charged

Former director of Australasia Wealth Services and Management, James Feng, has been charged with authorising the making of a false or misleading statement to the Australi...

Financial planning

ASIC sues AMP firms for fees-for-no-service

The corporate watchdog is suing six AMP firms after it allegedly charged $600,000 from over 1,500 customers fee-for-no-service from their corporate superannuation account...

Financial planning

Industry challenged by falling advisers but growing demand

There will be a problem in the next five years as falling adviser numbers coincide with more households seeking advice, according to Easton Investments. ...

Policy & Regulation

Deferred sales model insurance guide released

The corporate regulator’s RG 275 will cover all requirements for the implementation the new deferred sales model for add-on insurance, including any exemptions....

Policy & Regulation

Advisers need to avoid regulator 'radar'

Financial advisers need to make sure all their new regulatory requirements are in place by October to avoid any scrutiny from the regulators, even if they aren’t receivin...

Financial planning

Licence cancelled for Qld firm

Queensland-based financial services firm Fentborough has seen its Australian financial services licence cancelled for failing to lodge documentation. ...

Financial planning

BT and Asgard to pay penalties for fee-for-no-service

BT Funds Management and Asgard Capital will pay $3 million after the two entities made false and deceptive conduct to over 400 customers. ...

Financial planning

What is the ASIC levy funding?

There were six main areas the corporate watchdog focused on which led to a $16.5 million increase in costs of regulating the financial advice sector....

Financial planning

ASIC levy increase will cause more practices to close: FPA

The association says the current levy formula is not sustainable and needs to be reviewed immediately....

Superannuation

Super funds need to identify social media posters

If there is a post on a superannuation fund’s social media platform from a member about withdrawing communication consent, then the fund must take steps to ascertain the ...