ASIC

Funds management

It is the duty of retail investors to educate themselves on the costs and risks of trading in foreign exchange markets, according to Dale Gillham, as a trading company is...

Financial planning

Don’t look for FASEA exam ‘loopholes’: AFA

Advisers who want to continue in the industry should do everything they can to pass the exam this year as it is not clear whether they will be able to sit an exam next ye...

Financial planning

Over 100 advisers leave the industry in a single week

This week 103 advisers left the industry during a period which saw a lot of adviser movement thanks to IOOF finalising its absorption of MLC Wealth advisers. ...

Financial planning

Ex-adviser banned for three years

Brisbane-based Nathan Smith failed to provide advice that was in the best interest of clients....

Financial planning

ASIC levy increase due to declining adviser numbers

The cost of recovering additional funding by the Government along with the decrease in the number of advisers year-on-year has led to the corporate regulator’s licensee l...

Financial planning

Accessible affordable advice priority for new ASIC chair

The challenge for the corporate regulator and policy makers is to figure out a way to make the advice regime more digestible, practical, and affordable for consumers....

Financial planning

Most advisers to declare 'not independent'

Only 2% of advisers and advice firms can label themselves as “independent’, meaning most will be subject to the new Financial Services Guides disclosure obligations....

Policy & Regulation

$20m penalty for Forex CT

Company director Shlomo Yoshai has also been fined $400,000 and is disqualified from managing companies for eight years, after creating a trading floor culture compared t...

Financial planning

OTC manager banned for 10 years

Union Standard director and former responsible manager, John Carlton Martin, has been banned from providing financial services for 10 years from providing financial servi...

Policy & Regulation

ASIC targets actions of activist short sellers

Avoiding emotive language and releasing short reports outside of normal trading hours are among recommendations from the Australian Securities and Investments Commission ...

Funds management

ASIC bans Global Merces director for six months

Holly Grofski has been banned by the corporate watchdog after the firm failed to comply with Australian financial services licence conditions. ...

Expert Analysis

The value of advice

The proliferation of retail investors entering the market during the COVID-19 induced downturn has highlighted the value that can be demonstrated by seeking financial adv...

Financial planning

Total number of advisers drop below 20,000

This week saw a big drop in adviser numbers to 19,953 as licensees with limited advice services continued to cut advisers roles and advisers opting not to proceed with th...

Superannuation

Risk management a prudential issue: APRA

Super funds have been warned by the Australian Prudential Regulation Authority that a single serious accusation of misconduct when it comes to risk management is a pruden...