ASIC

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The Australian financial services licence of one financial services providers has been cancelled while another has been revoked.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

Policy & Regulation

ASIC pushes design and distribution out to late 2021

Implementation of the key financial products design and distribution obligations has been deferred until well into the second half of next year....

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...