ASIC

Financial planning

ASIC commences proceedings against RI Advice

The corporate regulator alleged that the IOOF subsidiary failed to have adequate cyber security systems. ...

Policy & Regulation

Treasury instructs ASIC not to answer questions on litigation funding

Key correspondence between the Australian Securities and Investments Commission and Treasury over making class action litigation funding subject to an Australian Financia...

Financial planning

Westpac rolls over on ASIC charges against BTFM and Asgard

Westpac has said it will not be defending ASIC charges against BT Funds Management and Asgard over fee for no service and has apologised to those affected....

Financial planning

Are advisers facing an eighth layer of regulation and cost?

The Financial Planning Association has warned the Australian Competition and Consumer Commission against imposing another layer of regulation and cost on financial advise...

Financial planning

ASIC obtains injunctions against SMSF scam

The corporate regulator has obtained interim orders against PW Kitt Co and sole director Larry Dawson for a fraudulent SMSF advisory business. ...

Policy & Regulation

Over 40 SMSF auditors reprimanded by ASIC

The Australian Securities and Investments Commission has cancelled or imposed restrictions on 42 SMSF auditors for failing to maintain their audit experience....

Financial planning

ASIC green lights super fund financial advice model

The Australian Securities and Investments Commission has endorsed the ability of superannuation funds to obtain advice services from financial planning firms underpinned ...

Financial planning

Unregistered MIS ordered to wind up

The unregistered managed investment scheme by Askk Investment Group is to be wound up as it had put substantial funds at risk for investors who were not afforded the prot...

Life/Risk

Will ASIC use new powers on insurance adviser remuneration?

A law firm has raised the prospect of the Australian Securities and Investments Commission using its new Product Intervention Power with respect to insurance adviser remu...

Superannuation

How ASIC decided against reporting on super fund inducements to employers

The Australian Securities and Investments Commission has reported it simply became too busy to develop a report around superannuation funds seeking to induce employers to...

Financial planning

Has Govt realised it went too far on financial advice?

The Government and the regulator are showing signs that they now understand they have gone too far in driving up the cost of financial advice, according to panellists at ...

Superannuation

Vigilance needed on suspicious super activity

Superannuation members need to regularly check their balance given the scams and fraud activity surrounding the early release of super scheme, a super body has said....

Financial planning

ASIC brackets intra-fund advice with scaled and personal advice

The Australian Securities and Investments Commission has framed intra-fund advice in the same context as scaled advice....

Policy & Regulation

ASIC's $1.8 million+ failed pursuit of Westpac

The failed pursuit of Westpac over responsible lending has cost the Australian Securities and Investments Commission nearly $1.9 million before it even accounts for Westp...

Financial planning

ASIC hires experts to help solve advice crisis

The Australian Securities and Investments Commission has hired expert advisers to help solve the problems of making financial advice more accessible and affordable amid t...