ASIC

Outsider

ASIC happy to help the watchdog watching ASIC

Outsider feels sure that financial advisers will be heartened by the news that the Australian Securities and Investments Commission has 2,237 employees and that over the ...

Superannuation

ASIC backs super funds on use of member reserves

The Australian Securities and Investments Commission is backing the Federal Court’s precedent in the IOOF case on how and when superannuation funds can use member reserve...

Financial planning

ASIC bans crypto rep for seven years

John Bigatton has been banned by the corporate regulator for providing unlicensed financial product advice in relation to a cryptocurrency platform....

Financial planning

Trapnell renews call for FASEA to treat life/risk advice differently

Synchron’s Don Trapnell has renewed his call for specialist life/risk advisers to be held to a different level of educational requirements to advisers providing holistic ...

Policy & Regulation

ASIC obtains interim injunction against Mayfair 101 director

The corporate regulator has obtained an interim injunction against Mayfair 101 managing director, James Mawhinney....

SMSF

Adviser charged with 10 counts of SMSF fraud

The corporate watchdog allege that Brett Gordon withdrew $502,000 from self-managed super fund bank accounts without authorisation, and paid personal debts using funds be...

Financial planning

Roll FASEA functions into disciplinary body says FPA

The Financial Planning Association has used an updated pre-Budget submission to urge the Government to roll functions of the Financial Adviser Standards and Ethics Author...

Funds management

Regulatory relief for IPOs

The corporate regulator has offered regulatory relief for initial public offerings following public consultation....

Financial planning

Industry funds cite ASIC, FASEA and Hume on intrafund advice

Industry superannuation funds believe they are on safe ground in providing both scaled advice and intrafund advice citing the authority of the Australian Securities and I...

Policy & Regulation

ASIC backs off on AUSTRAC action against CBA

The Australian Securities and Investments Commission has signalled it will not be pursuing the Commonwealth Bank over possible AUTRAC-related violations of the Corporatio...

Financial planning

ASIC grants relief for hardship withdrawals from frozen managed funds

People facing hardship as a result of the COVID-19 pandemic will be able to make withdrawals from frozen managed funds under new relief measures announced by the Australi...

Policy & Regulation

ASIC expands regulatory sandbox

Companies who access the Australian Securities and Investments Commission new and expanded regulatory sandbox will get two years to prove their case including licensed bu...

Financial planning

Six instos to pay $1.05bn in FFNS compensation

Six of Australia's largest banking and financial services institutions have offered a total of $1.05 billion in compensation, as at 30 June 2020, to customers who suffere...

Policy & Regulation

ASIC reveals a lack of liquidators to handle COVID-19 liquidations

Who will handle the rush of companies which go bust in the face of COVID-19 when registered liquidators are facing their own set of problems?...

Features

InFocus: Are politicians finally awake to their financial planning mess?

Mike Taylor writes that both Treasury and ASIC are conducting consultations which suggest that politicians of both stripes have finally woken up to the mess created in th...