ASIC

Policy & Regulation

ASIC imposes additional conditions on AxiCorp AFSL

The corporate regulator has applied the extra conditions after the over the counter derivatives business was suspended last year. ...

Financial planning

Eagle or vulture? ASIC levy invoices are landing on advisers

Financial advisers may be unhappy with the increased Australian Securities and Investments Commission levy but their invoices are arriving nonetheless. ...

Financial planning

Women could fill advice gap

Most Financial Planning Association student members coming through are women, who are likely to reshape industry demographics as existing advisers leave the industry. ...

Life/Risk

ASIC prosecution against TAL a half win

TAL is acknowledging the Australian Securities and Investments Commission’s pursuit of charges against in the Federal Court but pointing out that the regulator did not wi...

Life/Risk

TAL found guilty in ASIC Federal Court action

Big insurer, TAL has been found guilty in the Federal Court of breaching its duty of utmost good faith under the Insurance Contracts Act with respect to an income protect...

Financial planning

ASIC remediation regime could bankrupt small advice practices

The Financial Planning Association has warned that without a scaled approach by the Australian Securities and Investment Commission small financial planning practices cou...

Policy & Regulation

Want the ASIC levy decreased? Lobby Josh Frydenberg

The Association of Financial Advisers has urged members to directly lobby the Federal Treasurer, Josh Frydenberg if they want ASIC’s proposed levy increase reduced....

Financial planning

Will ASIC's adviser breach regime overwhelm its own resources?

The increased volume of reports generated from upcoming changes to the Australian Securities and Investments Commissions new breach reporting regime runs the risk of over...

Financial planning

Will reference-checking be the big cost in adviser recruitment?

As the major licensees compete to attract advice businesses and individual advisers, the Australian Securities and Investments Commission’s new approach to reference-chec...

Financial planning

Dover and McMaster handed penalty

Dover Financial Advisers have been ordered to pay a $1.2 million penalty for engaging in false or misleading conduct, while Terry McMaster will also be required to pay $2...

Financial planning

Planning and accounting groups unite against ASIC levy rise

Five planning and accounting groups have united to press the Government to override the Australian Securities and Investments Commission on its proposed levy increases ci...

Financial planning

Ex-adviser charged for fabricating wholesale certificates

Ezzat-Daniel Nesseim has been charged with 16 offences and the corporate regulator alleged that he gave false answers and information under oath....

Financial planning

Another 30 advisers leave the industry this week

Although a quick look at the ASIC’s Financial Adviser Register shows a departure of another 33 advisers from the industry this week, it is equally important to understand...

Policy & Regulation

Should the industry be paying for ASIC’s policy advice to Govt?

The Australian Securities and Investments Commission is recouping millions of dollars from the industry to pay for the provision of policy advice to Government. Should th...

Superannuation

Civil proceedings against Statewide Super on false or misleading charges

The corporate regulator has commenced proceedings in the Federal Court against Statewide Superannuation for its representations on insurance cover. ...