ASIC

Funds management

Regal Funds Management under investigation

The fund is being investigated by the Australian Securities and Investments Commission for an undisclosed issue, according to its responsible entity, Equity Trustees....

Policy & Regulation

ASIC not to monitor or enforce adviser code of ethics

Under the Corporations Act, the Australian Securities and Investments Commission does not have a role as a code monitoring body and is prevented from exercising its power...

Financial planning

How much trust in AMP took a hit

AMP Limited has acknowledged the major hit taken to its public reputation but holds hopes that it can restore trust in around three years....

Financial planning

Will Glenfield deliver more clarity on code?

The Financial Planning Association is touting the presence of Financial Adviser Standards and Ethics Authority chief executive, Stephen Glenfield, at its annual congress ...

Financial planning

ASIC bans Melbourne adviser for SMSF advice

Former Apogee adviser, Jihad Soleiman has been banned for six years for unqualified self-managed superannuation fund advice....

Financial planning

Perth adviser banned for four years

Perth-based financial adviser, Lawrence O’Neill, has been banned from providing financial services for four years as he failed to comply with financial services laws....

Financial planning

ASIC denies knowledge of intra-fund extension

It will be up to the Government to determine whether superannuation funds will be able to use member cross-subsidies to fund intra-fund advice, according to the Australia...

Policy & Regulation

We treat retail and industry funds equally says ASIC

The chair of the Australian Securities and Investments Commission, James Shipton has declared the regulator treats industry and retail funds equally....

Policy & Regulation

ASIC details its interactions with Choice

Parliamentary committee questioning has seen the Australian Securities and Investments Commission detailing the extent of its interactions with consumer group, Choice....

Financial planning

ASIC answer confirms Hayne got it wrong on intra-fund advice

Questioning by a Liberal Senator has seen the Australian Securities and Investments Commission confirm that Royal Commissioner, Kenneth Hayne, got it wrong on intra-fund ...

Life/Risk

CommInsure pleads guilty to 87 hawking offences

CommInsure will refund $12 million for unfair life insurance telephone sales to around 30,000 customers....

Policy & Regulation

ASIC reinforces how far EUs are out of favour

Enforceable undertakings too often entail zero penalties and the Australian Securities and Investments Commission would prefer to litigate....

Policy & Regulation

Union funds benefit from ASIC Class Order

Questions have been raised about the appropriateness of an Australian Securities and Investments Commission class order which absolves worker entitlement funds run by tra...

Financial planning

FASEA board accused of shunning industry

Questions are being asked about why the board of the Financial Adviser Standards and Ethics Authority has avoided direct engagement with key industry groups for more than...

Policy & Regulation

APRA, ASIC to share data

In a bid to lift regulatory burden on super funds the two regulators are looking to share data for areas of common interest....