ASIC

Financial planning

ASIC cancels AFS licence of KP International Group Australia

The Australian Securities and Investments commission has cancelled the Australian financial service licence of KP International Group Australia due to resignation of all ...

Financial planning

AMP FP loses MDA license rights

The Australian Securities and Investments Commission has announced that AMP Financial Planning has been required to stop providing managed discretionary account services....

Financial planning

ASIC wanted sanctions spelled out in adviser code

The Australian Securities and Investments Commission wanted the Financial Adviser Standards and Ethics Authority to clearly spell out the sanctions it would impose on adv...

Life/Risk

ASIC’s TAL case will test insurers’ rights

The Australian Securities and Investments Commission’s Federal Court case against major insurer, TAL, will test the circumstances and extent to which life insurers can ga...

Financial planning

ASIC moves against NAB on fee-for-no-service

The Australian Securities and Investments Commission has taken Federal Court action against National Australia Bank citing several thousand contraventions with respect to...

Financial planning

FASEA releases ASIC code submission

The Financial Adviser Standards and Ethics Authority has released the content of the Australian Securities and Investments Commission submission on the adviser code of et...

Life/Risk

ASIC takes TAL to court on RC charges

Major life insurer TAL has been taken to court by the Australian Securities and Investments Commission on charges relating to issues raised during the Royal Commission in...

Financial planning

Obtaining PI is a problem and ASIC knows it

The Australian Securities and Investments Commission has formally acknowledged that some advisers are struggling to obtain professional indemnity insurance, but the regul...

Policy & Regulation

FASEA ‘overdue’ in answering key Senate questions

The Financial Adviser Standards and Ethics Authority is now officially overdue in providing answers to key questions around Australian Securities and Investments Commissi...

Policy & Regulation

ASIC calls for insurance code enforcer

Insurance inside superannuation needs a properly resourced code administrator with sanction powers, according to the Australian Securities and Investments Commission....

Superannuation

Super industry needs to improve life insurance outcomes

The superannuation industry has been urged by the Australian Securities and Investments Commission to focus more on improving life insurance outcomes for its members....

Policy & Regulation

9 out of 10 super funds investigated by ASIC were retail funds

The Australian Securities and Investments Commission has investigated 10 superannuation funds in the past four years – nine of them were retail funds....

Funds management

ASIC takes action against Marco’s managed investment scheme

The Australian Securities and Investments Commission has taken further steps to wind up Chris Marco’s alleged unregistered managed investment scheme....

Financial planning

Should ASIC allow advisers flexibility on 12-month opt-in?

Amid concern and confusion around how the Australian Securities and Investments Commission yearly opt-in and fee disclosure will work, adviser groups are urging flexibili...

Financial planning

ASIC tips highlight onerous new FDS regime

An Australian Securities and Investments Commission document providing tips for financial advisers on how to deal with the new fee disclosure regime has served to highlig...