ASIC

Policy & Regulation

ASIC publishes IDR data dictionary and glossary

The internal dispute resolution reporting documents have been released ahead of the pilot test which will launch later this year....

Policy & Regulation

Budgeting provider MyBudget applies for ASFL

The application follows an investigation by the corporate regulator after concerns unlicensed financial services were being conducted during the COVID-19 pandemic when mo...

Financial planning

8 issuers had grandfathered commissions at start of 2021

While 96% of grandfathered conflicted remuneration arrangements have been terminated by the start of 2021, eight product issuers still have grandfathered benefits on 46 p...

Financial planning

No charges for AMP FP alleged fee-for-no-service conduct

The Commonwealth Director of Public Prosecutions has determined that no charges should be brought to AMP Financial Planning for its conduct into the alleged fees-for-no-s...

Financial planning

FASEA approves ASIC guidance on COVID-19 relief ROAs

The corporate regulator has released guidance on how advisers should be giving records of advice provided under the temporary COVID-19 relief measure....

Policy & Regulation

ASIC’s FSCP lacks consumer voice

The corporate regulator’s Financial Services and Credit Panel proposal effectively only has industry figures judging the behaviours of other industry figures, according t...

Financial planning

ASIC obtains orders against Alliance Insurance Brokering Services

The corporate regulator has obtained interim orders against Alliance Insurance Broking Services and its sole director, Renato De Maria. ...

Policy & Regulation

Former Nexus director pleads guilty

Wael Kourieh has pleaded guilty to false document changes by forging member signatures to trick AMP employees....

Life/Risk

OnePath Life to remediate $35m to customers

OnePath Life is remediating up to $35 million to over 40,000 customers who were sold life insurance policies over the phone between 2010 and 2016....

Policy & Regulation

ASIC releases litigation funding consultation

The corporate regulator will seek feedback on proposed guidance and relief for the litigation funding schemes....

Financial planning

Dixon Advisory to pay $7.2m for breaching Corporations Act

The Australian Securities and Investments Commissions has announced entered a conditional agreement with Dixon Advisory which will pay $7.2 million penalty for breaching ...

Financial planning

Rate of adviser exits to prolong

The current forecast still assumes the number of advisers will fall and plateau to 15,000 but this may take longer than initially predicted thanks to recent exam relief m...

Policy & Regulation

Halifax auditors plead guilty to charges

The first auditors in Australia to face criminal prosecution for failing to comply with auditing standards have pled guilty to the three charges against them....

Financial planning

AFA hits back at regulators' advice guidance

The corporate and prudential regulators guidance on advice for superannuation trustees warns trustees about trusting financial advisers....

Financial planning

May FASEA exam problem areas highlighted

Financial services guide and statement of advice documentations, breach reporting, and applying the Corporations Act are some of the key areas where exam takers are strug...