ASIC

Life/Risk

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...

Life/Risk

Should life/risk have its own standards?

Synchron director, Don Trapnell, said life/risk advisers are being treated unfairly under the education requirements and deserve a separate standard suited to the profess...

Financial planning

Mayfair 101 launches latest bond focused on Qld resort

Troubled property investment firm Mayfair 101 has launched its next strategy, a fixed income property bond investing in a tourist resort in Mission Beach, Queensland. ...

Financial planning

MyPlanner Professional suspension on hold

The firm’s Australian financial services licence was suspended in February but the Administrative Appeals Tribunal has granted a stay in its effect on conditions....

Superannuation

ASIC disqualifies and suspends SMSF auditors

The Australian Securities and Investments Commission has announced it has disqualified, suspended or added conditions to the registration for a number of self-managed sup...

Financial planning

Adviser relief for now, but how will Standard 3 be enforced?

Regulators have taken a soft approach to the implementation of Standard 3 of the FASEA Code of Ethics, but there is still concern over how proper regulation will work....

Policy & Regulation

Why the financial affairs of ASIC commissioners will remain private

Parliamentarians may have to disclose their pecuniary interests but the public are highly unlikely to ever know the private financial interests of the most senior executi...

Policy & Regulation

Mayfair receives interim restraining order for false advertising

The Federal Court has made interim orders restraining Mayfair Wealth Partners and Online Investments from promoting debenture products and from using specific words and p...