ASIC

Financial planning

ASIC permanently bans jailed Adelaide adviser

Former adviser James Gibbs has been permanently banned, the first imposed utilising the recent extensions to the corporate regulator’s banning powers....

Financial planning

Who earned the stamping fee exemption millions?

The Australian Securities and Investments Commission has pointed to hundreds of millions earned by stockbrokers, advisers and advice firms as a result of the stamping fee...

Funds management

ASIC commences proceedings against Mayfair

It is alleged the sponsored link advertisements promoting Mayfair debenture products were misleading or deceptive....

SMSF

Charterhill’s Nowak sentenced to 10 years imprisonment

Charterhill director, George Nowak misappropriated $1.2 million in self-managed superannuation fund monies to fund a lavish lifestyle. ...

Financial planning

ASIC creates adviser lee-way on grandfathering

The Australian Securities and Investments Commission has created some time and space for advisers by delaying, for now, its work on life insurance advice and conflicted g...

Financial planning

Backlash slows ASIC’s termination of grandfathered commissions: AIOFP

The corporate regulator is only putting the brakes on terminating grandfathered commissions because consumers have started to realise the cost of advice has escalated due...

Financial planning

ASIC cancels three Qld-based licences

FS Securities, Your Super Life, and MyPlanner Australia have all had their Australian financial services licenses cancelled....

Expert Analysis

Easing the regulatory burden during a pandemic

As Australia moves under lockdown, ASIC needs to ease the regulatory burden for advisers unable to meet face-to-face with clients, writes Shannon Bernasconi....

Expert Analysis

Inoculating against a potential fraud pandemic

We all need to keep our vigilance high during these extraordinary times, but perhaps nowhere is our attention more warranted than over money and data, writes Dean Martin....

Policy & Regulation

ASIC warns real estate agents on early release super advice

The Australian Securities and Investments Commission has fired a shot over the bows of real estate agents who have been providing ‘advice’ to hard-pressed tenants about a...

Policy & Regulation

Before COVID-19 ASIC was investigating mostly retail funds

The Australian Securities and Investments Commission was only conducting five investigations relating to industry funds compared to 16 relating to retail funds. ...

Financial planning

ASIC reveals two bodies were vying to become code-monitors

It was well known that a consortium led by the FPA and AFA was seeking authorisation of as a code monitoring body but the Australian Securities and Investments Commission...

Superannuation

APRA and ASIC tell funds to prioritise liquidity for early release

Superannuation funds have received a letter from the two financial services regulators telling them to give top priority to having sufficient liquidity to make early rele...

Financial planning

New AFSL for entities who sell funeral expenses facilities

The Australian Securities and Investments Commission has announced that entities who sell funeral expenses facilities will be required to hold an Australian financial ser...

Financial planning

ASIC gives capital raising relief

Listed firms that have been suspended for up to 10 days will be allowed certain ‘low doc’ offers such as rights offers, placements, and share purchase plans, even if they...