ASIC

Policy & Regulation

Fixed term investment marketers in ASIC’s sights

Firms marketing fixed term investment products as a substitute for bank term deposits have been placed on notice by the Australian Securities and Investments Commission. ...

Funds management

Six Park waives management fees for new investors

Online investment provider Six Park is temporarily reducing its minimum investment threshold and waiving investment management fees to encourage more Australians to in...

Financial planning

Pershing pleads guilty to mishandling client money

Pershing Securities Australia is the first company in the country to face criminal prosecution for breaching client money provisions....

Policy & Regulation

ASIC warns retail investors against playing volatile markets

There has been an upsurge in retail investors seeking to time the market in pursuit of quick profits and the Australian Securities and Investments Commission has warned t...

Financial planning

Big adviser groups facing degree deficit

Some of Australia’s largest financial advice groups are facing the problem of too few advisers who are degree qualified leading to the need for strong succession planning...

Financial planning

Early super access ROA now digital

The FPA has partnered with three fintech providers to allow advisers provide early super advice more efficiently....

Policy & Regulation

Director banned for seven years by ASIC

Scott Morrison, a former director at Olive Financial Markets, has been banned by the Australian Securities and Investments Commission for seven years for failing to act i...

Life/Risk

TPD ADL regime up for change

Amid suggestions by the Australian Financial Complaints Authority that the Activities of Daily Living regime is “very tough”, the major insurers have flagged key changes ...

Financial planning

FPA challenges ASIC on super advice fee arrangements

The Financial Planning Association has challenged the sense and workability of the Australian Securities and Investments Commission’s proposals around time-limited supera...

Life/Risk

A year out from the LIF review, ClearView urges no change

Life insurance commissions should be retained in the life/risk industry with no change to their structure, according to major insurer ClearView....

Superannuation

Was ISA inflating its super release impact figures?

Government Senators are claiming vindication because a senior Treasury official has suggested Industry Super Australia may have used inappropriate data to inflate the imp...

Life/Risk

'Go further than the code' ASIC tells life insurers

Life insurers should be prepared to go further than their own Life Insurance Code of Conduct to help clients impacted by the COVID-19 pandemic, according to the Australia...

Financial planning

ASIC confirms licensee attempt to hire banned adviser

The checking mechanisms employed by the Australian Securities and Investments Commission prevented a licensee from employing a currently banned adviser....

Superannuation

Early super release scams under guise of Govt

Australians are being targeted by scammers posing to be from Government agencies and that real estate agents are now telephoning tenants to access their super before aski...

Policy & Regulation

First real estate agents, now a Liberal Senator

NSW Liberal Senator and former Financial Services Council policy executive, Andrew Bragg has denied a letter he wrote to constituents on early release superannuation is t...