ASIC

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...

Policy & Regulation

APRA put under pressure to consider early access scheme

The Australian Prudential Regulatory Authority was given less than one day to consider the early access to super scheme. ...

Policy & Regulation

Regulatory sandbox available from September

The Federal Government is finalising regulations for its enhanced regulatory sandbox for fintech businesses, which will commence from the start of September. ...

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. ...