ASIC

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...

Financial planning

RG146 CPD no longer required

Financial advisers will no longer have to record continuing professional development for RG146 as it has effectively been replaced by the Financial Adviser Standards and ...

Financial planning

Is financial advice being legislated and regulated towards market failure?

An article written by a Sydney lawyer has warned that financial advice is in danger of market failure because it has been the subject of significant legislative over-reac...

Financial planning

CBA to pay $5m

The Commonwealth Bank of Australia has been ordered to pay $5 million for failures in their AgriAdvantage Plus Package. ...

Policy & Regulation

ASIC cancels OTC issuer's AFS licence

The corporate regulator has cancelled the Australian financial services licence of retail over-the-counter derivative issuer Forex Capital Trading after clients incurred ...

Financial planning

ASIC hits out at 'disappointing' efforts by ME Bank

The Australian Securities and Investments Commission has hit out at ME Bank over the “disappointing” way it handled its problems over client mortgages and said it has had...

Policy & Regulation

Two firms see AFS licences cancelled

Two financial services firms have had their licences cancelled by the corporate regulator for failing to submit audited accounts and meet licensee obligations. ...

Financial planning

Bendigo and Adelaide Bank small business contract terms declared unfair

The terms were declared unfair by the Federal Court of Australia as they caused a significant imbalance to the parties’ rights and obligations under the contract and woul...

Financial planning

Daly and Linchpin directors banned for 5 years

Peter Daly and two other Linchpin directors have gone on the Australian Securities and Investments Commission banned list after failing in the Administrative Appeals Trib...