ASIC

Financial planning

Licensee record-keeping key to confining remediation inside 7 years

The Australian Securities and Investments Commission is claiming licensees shouldn’t be needing to remediate clients beyond a seven-year horizon, but has left open the qu...

Policy & Regulation

Obtaining PI not a big problem claims ASIC

The Australian Securities and Investments Commission is arguing that obtaining professional indemnity insurance is not as big a problem for financial planning licensees a...

SMSF

Proceedings against Squirrel Superannuation Services start for misleading marketing

The corporate regulator alleges the financial technology firm’s brochure on self-managed superannuation funds was misleading. ...

Policy & Regulation

ASIC claims to have planners in its regulatory ranks

The Australian Securities and Investments Commission is insisting it has empathy for financial planning licensees because it has both former advisers and paraplanners in ...

Policy & Regulation

Traders unprepared for ASX outage: ASIC

The stock exchange outage in November led to deteriorating liquidity, the Australian Securities and Investments Commission has found, but the regulator has questioned why...

Policy & Regulation

Traders unprepared for ASX outage: ASIC

The stock exchange outage in November led to deteriorating liquidity, the Australian Securities and Investments Commission has found, but the regulator has questioned why...

Financial planning

ASIC reviewing LIF but don’t mention REP 413

The Australian Securities and Investments Commission is now claiming that its pivotal REP 413 which acted as the catalyst for the Life Insurance Framework is no longer re...

Policy & Regulation

Have politicians been guilty of providing unlicensed advice?

The Australian Securities and Investments Commission is again being asked whether politicians have been guilty of providing unlicensed advice over their urging of people ...

Policy & Regulation

ASIC paid top legal firm for Shipton opinion

Documents provided to a Parliamentary Committee have revealed the Australian Securities and Investments Commission paid a top tier legal firm for an independent opinion o...

Policy & Regulation

ASIC reveals Crennan documents

The documents attaching to the rental allowance controversy which led up to the resignation of Australian Securities and Investments Commission deputy chair, Daniel Crenn...

Superannuation

ASIC confirms it is investigating investment switching by super fund execs

With a number of superannuation funds having confirmed investment switching by fund trustees and executives during the early COVID-19 market volatility, the Australian Se...

Policy & Regulation

ASIC warns of ‘significant escalation’ in unlicensed advice

The Australian Securities and Investments Commission has seen a “significant escalation” in complaints about unlicensed operators providing financial product advice witho...

Policy & Regulation

Your levies at work – how ASIC funds consumer submissions

The Australian Securities and Investments Commission has confirmed that its industry funding model is helping underwrite the cost of consumer submissions such as those us...

Policy & Regulation

Without legal definition assets consultants are in the clear

Financial advisers may be significantly constrained in using the term “independent” but asset consultants are largely in the clear because asset consultation is not a leg...

Life/Risk

Default super insurance pays up to 79 cents for each premium dollar

Younger superannuation members and those in insurance policies with more restrictive terms and conditions may be receiving relatively low value for money, according to th...