ASIC

Financial planning

AMP confirms revamp as advisers numbers continue to drop

The latest ASIC Financial Adviser Register has highlighted further losses of advisers, with current adviser roles dropping to below 21,500 while the numbers of planners w...

Financial planning

BGC broker banned by ASIC for 10 years

The corporate regulator has banned former BGC Securities broker David Moore from providing financial services after he breached a contractual agreement between BGC and a ...

Financial planning

ASIC extends COVID-19 relief for financial advice

The corporate regulator is extending temporary relief for financial advice and capital raisings due to the continuing uncertain impact of COVID-19....

Financial planning

AFA welcomes ASIC no-action on Victoria’s advisers

The Association of Financial Advisers has welcomed ASIC’s no-action position for fee disclosure statement and opt-in obligations for Victoria’s located advice businesses....

Policy & Regulation

ASIC outlines expectations for debt capital markets

The corporate regulator has released its report on market practices in debt capital markets and outlined its expectations for Australian financial service licensees. ...

Funds management

ASIC finds fund managers falling short on accurate labelling

Thirteen responsible entities have moved to change or adjust the labelling of their funds following a review by the Australian Securities and Investments Commission....

Life/Risk

ASIC issues notices around LIF review

The Australian Securities and Investments Commission has kicked off the first phase of its review of the Life Insurance Framework with the issuing of Section 33 notices t...

Policy & Regulation

ASIC cancels Union Standard ASFL

The corporate regulator has cancelled the Australian financial services licence of over-the-counter derivatives issuer Union Standard International Group....

SMSF

ASIC adds conditions to two SMSF auditors' registrations

The corporate regulator has added new conditions to the registration of two SMSF auditors, William Krammer and Yuk Wong....

Financial planning

How trying to change the past has snookered financial advice

Governments and regulators trying to change the past in financial advice have placed its future at serious threat, according to financial planning broker, Paul Tynan....

Financial planning

Do advisers exiting vertical integration struggle on best interests?

Understanding the full implications of the code of ethics and its implementation as well as the best interests duty might be bothering some advisers....

Policy & Regulation

First litigation funding AFSL issued

Barely weeks after the new litigation funding licensing regime became law, one of the biggest funders has obtained its Australian Financial Services License. ...

Financial planning

Intrafund advice must leave clients better off says ASIC

Intrafund advice must be seen to leave clients better off or it will likely fail best interests, according to the Australian Securities and Investments Commission....

Superannuation

How some people paid nearly $300 for free super early release

At least two companies were warned by the regulator to stop charging fees ranging from $199 to $299 for facilitating superannuation early release when the process is mean...

Superannuation

NAB super entities hit by $57.5 million court penalties

National Australia Bank super entities NULIS and MLC Nominees have been hit by Federal Court penalties out of an Australian Securities and Investments Commission action o...