ASIC

Expert Analysis

Design and Distribution Obligations – Putting the Consumer First

The implementation of design and distribution obligations to the Australian financial services industry will bring with it a range of new challenges but, as Mikkel Bates ...

Financial planning

Planner group accuses ASIC of outdated view on conflicts of interest

Planner group, the Profession of Independent Financial Advisers wants a clearer banning of asset-based fees and an updating of Australian Securities and Investment Commis...

Policy & Regulation

No loopholes, no carve-outs insist coalition of consumer groups

A coalition of consumer groups has pointed to key changes to advice and life insurance resulting from the Royal Commission and insisted on no loopholes and no carve-outs....

Financial planning

How the cost of an SOA rose 10% inside 12 months

Financial Planning Association chief executive, Dante De Gori has pointed to the impacts of increasing regulatory oversight with the cost of generating a statement of adv...

Policy & Regulation

Don’t rely on our audit inspection reports says ASIC

The audit industry has been delivered a reasonably favourable assessment by a key Parliamentary Committee because the Australian Securities and Investments Commission sai...

Policy & Regulation

Court finds AGM Markets engaged in unconscionable conduct

Over-the-counter derivative issuers AGM Markets, OT Markets and Ozifin Tech have been found by the Federal Court to have engaged in systemic and unconscionable conduct, c...

Policy & Regulation

ASIC far from done with RC prosecutions

External law firms have been brought in as the Australian Securities and Investments Commission looks to wrap up referrals from the Royal Commission....

Financial planning

AMP and big four see 52% increase in enforcement investigations

The Australian Securities and Investments Commission had staff on-site at the major banks and AMP for 216 days during October 2018 and December 2019....

Policy & Regulation

Former analyst pleads guilty to insider trading

NSW-based Michael Ming Jinn Ho, a former investment analyst, has pleaded guilty to insider trading in securities of Big Un Limited....

SMSF

Qld SMSF adviser permanently banned

William Houwing (known as Jack Houwing) failed to act in the best interests of his self-managed superannuation fund clients by recommending they lend money to his related...

SMSF

Charterhill director pleads guilty

George Nowak has pleaded guilty after investigations found he had misappropriated $1.2 million in self-managed superannuation fund monies. ...

Financial planning

Is the FASEA code in no man’s land?

The Financial Adviser Standards and Ethics Authority code of ethics may be in force but no authority is in place to oversee its enforcement and the Australian Securities ...

Financial planning

Townsville adviser charged with dishonestly using client money

Anthony Dick has been charged after using clients’ savings to fund his own personal lifestyle expenses....

Superannuation

SMSF auditors under fire

The corporate watchdog has moved to disqualify, suspend, and add conditions on six self-managed superannuation fund auditors....

Superannuation

ASIC welcomes reforms expanding its role in super

The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have welcomed the proposed reforms aimed at increasing the role of...