ASIC

Financial planning

The Australian Securities and Investments Commission has obtained freezing orders on the assets of a financial adviser who it alleged had failed to assist the Australian ...

Policy & Regulation

ASIC moves on SMSF auditors

Two self-managed superannuation fund auditors have been disqualified by the Australian Securities and Investments Commission following referrals from the Australian Taxat...

Financial planning

Accountant advice is no better than that of advisers says ASIC

The Australian Securities and Investments Commission says there is no evidence that accountants or tax financial advisers provide any better advice than ordinary financia...

Policy & Regulation

ASIC action against RI Advice will set new licensee obligations

Licensees would do well to pay close attention to the outcome of the Australian Securities and Investments Commission’s Federal Court action against RI Advice....

Policy & Regulation

ASIC takes RC action against RI Advice

RI Advice Group and a former adviser have found themselves the subject of Federal Court action initiated by the Australian Securities and Investments Commission off the b...

Financial planning

ASIC spotlights 3rd party advisers on super insurance messaging

Financial advisers who communicate with clients over insurance inside superannuation have been specifically referenced by the Australian Securities and Investments Commis...

Superannuation

ASIC places super funds on notice over insurance

Superannuation funds should be prepared to tell members when opting out insurance inside superannuation is in their best interests, according to the Australian Securities...

Superannuation

Super funds get 12 months’ grace on portfolio holdings

The Government has failed to deliver the necessary legislation and regulation to compel superannuation funds to publish their portfolio holdings meaning they will get a y...

Financial planning

ASIC wins appeal on personal advice

ASIC has won an appeal against two Westpac subsidiaries that provided personal advice to customers that breached best interests duty....

Financial planning

Extra ASFL condition for IOOF Investment Services

ASIC has imposed additional conditions to improve governance and conflicts management after considering Royal Commission concerns....

Policy & Regulation

Serious fraud of $300,000 leads to permanent ASIC ban

A former Brisbane-based administrative employee at Fitzpatricks Private Wealth has been permanently banned by the Australian Securities and Investment Commission for seri...

Policy & Regulation

What happened to the complaining Royal Commission witnesses?

Twenty-six witnesses appeared before the Royal Commission but only three of them had previously raised their concerns with the Australian Securities and Investments Commi...

Financial planning

Robo-advice no panacea

Suggestions that robo-advice will be sufficient to meet the needs of those earning $80,000 are well off the mark, according to Investment Collective managing director, Da...

Funds management

Is there still value in the ‘buy now, pay later’ space?

Shares in ‘buy now, pay later’ providers have shot up in the past year but are investors too caught up in the hype?...

Policy & Regulation

ASIC challenged on ‘scary’ SMSF factsheet

A key parliamentary committee chairman has challenged the Australian Securities and Investments Commission on whether it was trying to scare people with its self-managed ...