ASIC

Superannuation

2020 was the year of the Government’s hardship early release superannuation scheme and it was also a year during which the Australian Competition and Consumer Commission ...

Policy & Regulation

ASIC approves banking code variations

The corporate regulator has approved variations to the banking code of practice, including improving the definition of small business....

Financial planning

Advisers numbers already running 15% below historic average

Adviser numbers were already running close to 15% below the industry’s long-term average even before the end of 2020 and before the Financial Adviser Standards and Ethics...

Policy & Regulation

FASEA denies any deliberate misleading on code consultation

The Financial Adviser Standards and Ethics Authority has denied its chief executive, Stephen Glenfield, deliberately misled a Parliamentary Committee about the public ava...

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...