ASIC

Policy & Regulation

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...

Policy & Regulation

ASIC orders 25% reduction in market trades

Large market participants have been ordered by the Australian Securities and Investments Commission to reduce market trades by 25% as the regulator moves to bring order....

Financial planning

Unrestrained regulation and costs are driving advisers out of business

The Financial Planning Association wants the Government to commission the Australian Securities and Investments Commission to monitor the escalating costs of practicing a...

Financial planning

ASIC postpones annual forum and dinner due to coronavirus

The Australian Securities and Investments Commission Annual Forum and Annual Dinner will be rescheduled for a later date....

Financial planning

High Court sets precedent on company officers’ accountability

The High Court has unanimously held the Michael Christodoulou King was an officer of MFS Ltd (Octaviar) subsidiary MFS Investment Management and is therefore responsible ...

Financial planning

ASIC delivers regulatory roadmap on advice within super

The Australian Securities and Investments Commission has signalled at least some flexibility around how advisers gain consent from clients to deduct fees from their super...

Policy & Regulation

ASIC examining wholesale/retail client definitions

The Australian Securities and Investments Commission is looking at whether clients are being accurately designated as wholesale or retail investors....

Policy & Regulation

Limitations on proposed regulator oversight authority not effective

To be effective, the Financial Regulator Oversight Authority needs to be allowed to assess particular actions, or group of actions, to properly assess the two financial r...

Policy & Regulation

ASIC unveils regime for foreign financial services providers

The Australian Securities and Investment Commission has released its new regulatory framework for foreign financial services providers who are providing services to Austr...