ASIC

Policy & Regulation

ANAO, not ASIC, told Frydenberg about Shipton's expenses

The tax expenses issue which has seen Australian Securities and Investments Commission chairman, James Shipton, stand aside was notified to the Government by the Australi...

Policy & Regulation

ASIC chair to step aside pending expenses investigation

James Shipton has agreed to step aside due to an investigation into exceeding relocation expense limits for himself and deputy chair Daniel Crennan....

Financial planning

ASIC confirms focus on advice which is 'limited and affordable'

The Australian Securities and Investments Commission has confirmed it is trying to identify the real cost of providing financial advice at the same time as focusing on ho...

Policy & Regulation

ASIC tightens CFD rules

The Australian Securities and Investments Commission has initiated a product intervention order tightening the rules and the leverage around retail contracts for differen...

Funds management

Managers’ fears for speculative retail investors

Managers have highlighted the extreme and speculative trading activity by retail investors and revealed their fears about how they view the market....

Policy & Regulation

Societe Generale fined $30k

It has been sentenced to pay a total of $30,000 after pleading guilty to four separate counts of breaching client obligations....

Financial planning

Six Park reveals degree of push behind expansion of scaled advice

The Government is talking about it, the regulator is talking about it and now digital advice player Six Park has released a white paper emphasising the need for an expand...

Financial planning

FPA points to unreasonable cost of advice changes

With the average cost of a statement of advice having risen to around $2,700 the Financial Planning Association says it’s time to peel back the layers of regulation imped...

Financial planning

Will advisers be made to pay for reducing the cost of advice?

The Government wants financial advice to be made more affordable and a Financial Services Council has canvassed easier scaled advice, technology and less red tape as bein...

Financial planning

Industry needs to better address value of advice

Financial advice needed to focus on improving the value of advice, rather than focusing solely on the cost, according to a panel....

Financial planning

ASIC wants to remove barriers to scaled advice

The Australian Securities and Investments Commission has signalled it wants to remove barriers to the use of scaled advice via a consultation process....

Financial planning

Super fund claims cost of advice is 'commercially sensitive'

The cost of providing advice to members is "commercially sensitive” and releasing it would not be in the best interests of members, according to major health industry sup...

Policy & Regulation

NAB hit with $15 million civil penalty over loan introducers

In a decision which has implications for other sections of the financial services industry, the Federal Court has imposed a $15 million penalty on National Australia Bank...