ASIC

Funds management

ASIC reiterates retail investors’ mistakes in market timing

Retail investors choosing to sell tended to find the share price rose the following day, according to the Australian Securities and Investments Commission, as it highligh...

Financial planning

Interim receivers appointed over assets of unregistered MIS

Interim receivers have been appointed to Chris Marco, AMS Holdings, and AMS as a trustee for the AMS Holdings Trust after a lack of material returns generated for investo...

Financial planning

Ex-Spectrum adviser banned for five years

The corporate regulator has banned Sean Philip Lewis for his limited recourse borrowing arrangement advice and insurance advice that would generate large commissions for ...

Policy & Regulation

LIC stamping fee exemption to be extended

The ban on conflicted remuneration to listed investment companies will be extended following a consultation by the Treasury, removing an impediment to the FASEA exam exte...

Financial planning

Report intra-fund advice problems to ASIC says Hume

Financial advisers should report any concerns they have about superannuation funds breaking the intra-fund advice rules to the Australian Securities and Investments Commi...

Financial planning

ASIC bundles advisers in with early release scammers

Financial advisers have been lumped in with people the Australian Securities and Investments Commission alleges are involved in inappropriate behaviour around superannuat...

Policy & Regulation

Licence changes to two financial services firms

The Australian financial services licence of one financial services providers has been cancelled while another has been revoked. ...

Financial planning

Class order relief now on the table as FASEA exam bill stalls

The Government is finding itself under pressure to support class order relief around the Financial Adviser Standards and Ethics Authority exam timetable in the wake of th...

Funds management

ASIC calls on market participants to ‘act appropriately’

The Australian Securities and Investments Commission has written to market participants to ask they act appropriately to ensure a resilient stockmarket. ...

Financial planning

How well have dealer groups handled COVID-19?

Dealer groups have done well to equip advisers with guidelines and interpretations for any queries their clients have....

Financial planning

Could ASIC grant class order relief on the FASEA exam?

The Australian Securities and Investments Commission granted class order relief with respect to advisers being required to be members of a code-monitoring body and questi...

Policy & Regulation

QLD adviser pleads guilty to dishonestly using $1.1m

A Queensland financial adviser has pleaded guilty to dishonestly using around $1.1m of client money for his own use. ...

Superannuation

Faced by ASIC questioning ISA changes its early access super calculations

Industry Super Australia has received tough written questioning from the Australian Securities and Investments Commission around how it calculates the impacts of early ac...

Financial planning

ASIC bans three financial advisers

Bimaljeet Sekhon and Alan Davies have received three-year bans, while former Millennium3 authorised representative, Christopher Harris has been banned by the corporate re...