ASIC

Policy & Regulation

ASIC releases consult on market integrity rules

The corporate regulator has released a consultation on proposed amendments to market integrity rules, which will close on 6 August....

Superannuation

Super trustees to expect further advice fee oversight by regulators

The corporate and prudential regulators have put superannuation trustees on notice that they can expect a further follow up on their advice fee practices and that they ex...

Funds management

ASIC consults on crypto-based ETPs

The Australian Securities and Investments Commission is seeking feedback on proposals about exchange traded products and other investment products that provide investors ...

Policy & Regulation

SMSF auditor disqualified

The corporate regulator has disqualified self-managed super fund auditor Gordon Shrubsole for breaching independence and auditing standards....

Financial planning

ASIC cancels BBY’s licence

The Australian Securities and Investments Commission has cancelled the Australian financial services licence of BBY Limited, effective 24 June, following the earlier susp...

Financial planning

ASIC bans adviser for four years

Financial adviser Hannah Jennings has been banned after the corporate regulator found she was inappropriately recommending clients double gearing strategies....

Financial planning

Over 100 advisers leave industry this week

The data from the Australian Securities and Investments Commission showed that the number of advisers dropped this week by 112 to 19,631. ...

Financial planning

Single disciplinary body welcomed

The introduction of the single disciplinary body as part of the Better Advice Bill will lift standards as it will be individual advisers who have to register themselves a...

Financial planning

Third FASEA exam attempt welcomed

Another FASEA exam in 2022 will remove “great uncertainty” if advisers need to re-take the exam in November, according to the Stockbrokers and Financial Advisers Associat...

Financial planning

Societe Generale Securities conditions removed by ASIC

The additional Australian financial services licence conditions imposed on Societe Generale Securities Australia a year ago have been removed from 3 June, 2021. ...

Policy & Regulation

Regulator set up to monitor ASIC and APRA

The legislation to set up the Financial Regulator Assessment Authority has passed to assist the corporate watchdog’s new chair to ensure the Australian Securities and Inv...

Financial planning

ASIC breach guidance leaves room for subjectivity

The corporate watchdog’s guidance on the scope of civil penalty provisions and what may amount to trivial breaches does not provide sufficient objectivity to assist licen...

Funds management

ETF issuers can use overseas market makers

The corporate regulator has removed a barrier to entry for offshore market-making entities wanting to participate in the Australian exchange traded fund market....

Superannuation

Second performance review needed: ASFA

A second stage as part of the super test benchmark is needed to avoid relying on automation which could create issues similar to that of the Robodebt saga, according to t...