ASIC

Financial planning

ASIC pursues NAB in Federal Court over fees

The Australian Securities and Investments Commission is pursuing National Australia Bank in the Federal Court over 195,305 instances of incorrectly charging fees and bein...

Policy & Regulation

ASIC creates legal immunity escape hatch

People who dob-in instances of misconduct will have the opportunity to seek legal immunity under new arrangements being put in place by the Australian Securities and Inve...

Financial planning

ASIC urged to make affordable advice submissions public

Some financial advisers want the Australian Securities and Investments Commission to make the more than 480 submissions received as part of its affordable advice review p...

Superannuation

SMSF advice largely scaled

While the industry is working towards scaled SMSF advice, the Royal Commission and code of ethics has created a confidence issue in the industry, according to BT....

Policy & Regulation

ASIC scheduled to be back in the Parliamentary committee hot seat

Tough questions are awaiting the Australian Securities and Investments Commission when it fronts the Parliamentary Joint Committee on Corporations and Financial Services ...

Features

How everything has changed before the LIF is even reviewed

From the implementation of the FASEA regime through to the recommendations of the Royal Commission, Mike Taylor writes, a lot had changed before the Australian Securities...

Financial planning

Regulatory costs likely to go up: AFA

The loss of funding for regulatory bodies from the big institutions will still need to be covered by those left in the industry, as the corporate regulator relies on cost...

Financial planning

CBA found liable on 12,119 instances of overcharged interest

The Australian Securities and Investments Commission has successfully pursued a Royal Commission case study referral against the Commonwealth Bank involving overcharged i...

Financial planning

ASIC went direct to academics to commission controversial submission

The Australian Securities and Investments Commission has admitted going direct to Griffith University submissions to commission and pay for a controversial consumer submi...

Policy & Regulation

Ethics Centre among beneficiaries of left-over remediation payments

The Ethics Centre has been named by ASIC as being amongst a number of organisations which have benefited from ‘residual’ advice remediation payments. ...

Financial planning

How ASIC spent $31,000 on consumer advice submissions

The Australian Securities and Investments Commission funded $31,000 in consumer submissions about key financial advice policy issues including FoFA and the code of conduc...

Financial planning

Sydney adviser permanently banned

Daniel McSweeny has been banned from providing financial services by the corporate regulator for dishonesty and falsifying books....

Financial planning

ASIC explains what justifies calling advisers ‘advisers’

The wrongdoing may have little to do with the provision of financial advice but the Australian Securities and Investments Commission (ASIC) believes that if misdeeds are ...

Financial planning

ASIC 'very supportive' of quality limited advice

The Australian Securities and Investments Commission has declared its support for the provision of good quality limited advice while rebutting Government back-bench sugge...

Financial planning

ASIC orders financial planning firm to remove responsible manager

Financial planning firm, Poynter Hargraves has had additional conditions imposed on its license including the removal of its sole responsible manager....