ASIC

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...

Financial planning

Adviser survey urges ASIC to be facilitative, lenient

The message from advisers to clients is ‘don’t crystallise your losses’, while the message from a Money Management survey of advisers to the Australian Securities and Inv...

Financial planning

Ex-AMP planner sentenced

Trevor William Martin has been sentenced to three years of imprisonment to be served through an intensive corrections order for dishonestly obtaining $208,000 of client f...

Financial planning

AFA to make specific recommendations to ASIC

Extraordinary circumstances call for a changed regulatory approach says AFA....

Financial planning

Dealer groups uncertain on amount of Professional Year participants

There are only 68 eligible New Entrant Registrations from licensees, but the industry has concerns over how many adviser graduates are doing their Professional Year and i...

Policy & Regulation

ASIC bans WA adviser for four years

Anthony Hilsley failed to provide advice in the best interest of his clients, an investigation by the Australian Securities and Investments Commission found....

Financial planning

ASIC recalibrates regulatory priorities

The Australian Securities and Investment Commission has announced it will recalibrate its regulatory priorities to focus on COVID-19 challenges, suspending all not time-c...

Features

InFocus: If ever there was a need for good advice then it’s now

Mike Taylor writes that the services of experienced financial advisers have never been in greater demand as clients attempt to come to terms with the market volatility be...

Policy & Regulation

Societe Generale charged by ASIC

They have been charged with breaching client money obligations from between December, 2014, and September, 2018....

Funds management

AMP Life and AMP Capital fined

AMP Life and AMP Capital have been fined $275,500 and $250,500 respectively, in relation to trade reporting rules....

Superannuation

ASIC hits CFS on MySuper charges

The corporate watchdog allege Colonial First State Investments Limited sent misleading or deceptive communications to members of the FirstChoice Fund....

Policy & Regulation

CBA facing $5m penalty as ASIC initiates RC action

The Commonwealth Bank is facing more court action – this time the possibility of a $5 million penalty resulting from a Royal Commission referral relating to its so-called...