ASIC

Policy & Regulation

ASIC reinforces 'know your client' with mortgage broker best interests

Mortgage brokers are going to have to abandon a one-size-fits-all approach with the Australian Securities and Investments Commission reinforcing that ‘know your client’ w...

Financial planning

Scams on the rise

ASIC has seen a 20% rise in the number of investment scam reports during the COVID-19 pandemic, compared the same timeframe last year....

Financial planning

ASIC says forget commercial advantage, just get licensed

An unlicensed company sought to convince the Australian Securities and Investments Commission that there was commercial advantage in it being allowed to have advisers con...

Superannuation

ATO updates SMSF cost figures after outcry

The median ‘operating expense’ for a self-managed super fund is $3,923, according to the Australian Taxation Office, far lower than the $13,900 quoted in a recent SMSF fa...

Financial planning

FASEA confirms 2020 exam dates

FASEA has confirmed the dates for the remaining 2020 exam sittings which will be held in August, October and November. ...

Funds management

Will lawyers find themselves in the same regulatory boat as advisers?

The Government’s proposed changes to class action and litigation funding may see lawyers subject to some of the same obligations as financial advisers, according to the A...

Policy & Regulation

Companies can expect to be named by ASIC on product intervention

Informing consumers will sit at the heart of the Australian Securities and Investments Commission’s use of its new product intervention powers....

Financial planning

The cost of uncertainty as FASEA exam extension stalls again

Adviser morale and advice business valuations are taking a hammering as uncertainty continues to surround extending the Financial Adviser Standards and Ethics Authority e...

Financial planning

ASIC imposes extra AFSL conditions on Societe Generale

The additional conditions will require an independent expert to assess and test controls, systems and processes after the firm deposited client money into unauthorised ba...

Financial planning

FPA accuses ASIC of fee gouging

A proposed 38% per adviser increase in fees levied by the Australian Securities and Investments Commission has proved too much for the Financial Planning Association whic...

Policy & Regulation

ASIC to end COVID-19 relief instruments in October

The Australian Securities and Investments Commission has announced it has registered an amending instrument to specify an end date for three COVID-19 related instruments....

Features

FPA's adviser registration proposal resonates but what will it cost?

Mike Taylor writes that the Financial Planning Association may well have identified a key element of the future of the financial advice industry but no one should overloo...

Policy & Regulation

AFSLs and ASIC oversight not for us say litigation funders and lawyers

Litigation funders, lawyers and even the ACCC are warning a key Parliamentary that the imposition of licensing and oversight by the Australian Securities and Investment C...

Financial planning

Another question-mark over FASEA exam extension

The prospect of yet another Parliamentary argument around legislative amendments has again thrown passage of the Government’s extension of the Financial Adviser Standards...

Financial planning

Sam Henderson faces dishonest conduct charges

Sam Henderson’s appearance before the Royal Commission has had its corollary in charges being laid by the Australian Securities and Investments Commission relating to all...