ASIC

Financial planning

ASIC bans Qld adviser and cancels Smart Solutions licensee

Financial adviser Timothy Shapter has been banned for seven years for failing best interests duty and his licensee Smart Solutions has had its licence cancelled....

Policy & Regulation

APRA and ASIC need to collaborate on data

The Financial Services Council has recommended the two regulators must collaborate on information, documentation, and data requests and collection....

Financial planning

APRA/ASIC ‘engage’ super funds over adviser relationships

Superannuation funds have been ‘engaged’ by the regulators over payments to financial advisers and other third parties....

Policy & Regulation

Climate change an APRA supervisory priority in 2020

The Australian Prudential Regulation Authority will be imposing a climate change stress test on banks, insurers and superannuation funds....

Financial planning

ASIC imposes additional licence conditions on BGC

Additional licence conditions have been placed on BGC Securities Australia in relation to its fixed income business....

Financial planning

ASIC bans Adelaide adviser for six years

Adrian Cassidy has been banned for acting dishonestly by concealing from his licensee recommendations he gave clients to invest in a failed start-up....

Financial planning

ASIC permanently bans NSW adviser

The Australian Securities and Investments Commission has permanently banned Nicholas Ellis who was previously banned for six years for dishonest conduct....

Policy & Regulation

Government outlines extension of BEAR to super funds

Superannuation fund executives and trustees will find themselves the subject to the equivalent of the Bank Executive Accountability Regime under proposals outlined by the...

Financial planning

Choice of fund will only work with good advice

A major accounting body has warned the Federal Government that its policy to change default superannuation and inject full choice of fund may be undermined by its other p...

Superannuation

Call to place employers under legal obligation on default super

A leading plaintiff law firm has called for employers to be placed under a legal obligation to select the right default superannuation fund for their employees at the sam...

Superannuation

ASIC confirms sub-$200K SMSFs generate negative returns

The average self-managed superannuation fund with a balance less than $200,000 generated negative returns over three successive financial years, according to the Australi...

Financial planning

Limited licensing has failed claims SMSF Association

The SMSF Association wants the Government to dump its limited licensing regime for accountants on the basis of it having failed to meet its objectives and having, instead...

Policy & Regulation

Govt pressured to exclude SMSFs from DDO regime

Self-Managed Superannuation Funds should be exempted from the Government’s new design and distribution regime because they are not like other financial products, accordin...

Financial planning

ASIC bans NSW adviser for four years

Former AMP and NAB authorised representative David O’Brien has been banned for failing to make sufficient inquiries into his client’s circumstances....

Financial planning

Legacy complaints building towards 1,000

There has been no shortage of consumers and small businesses looking to file legacy complaints with the Australian Financial Complaints Authority, with data suggesting le...