ASIC

Policy & Regulation

Ex-Westpac, Commonwealth FP adviser banned

Peter Jianchao Xu has been banned by the Australian Securities and Investments Commission for failing to comply with best interests duty....

Financial planning

Federal Court finds Dover Financial Advisers made false statements

The Federal Court of Australia has found that Dover Financial Advisers made false and misleading statements in client protection policy between September, 2015 and March,...

Financial planning

FASEA on notice over ASIC submissions

The Financial Adviser Standards and Ethics Authority is now on formal notice to answer Senate Estimates questions about the content of Australian Securities and Investmen...

Policy & Regulation

AFA, FPA welcome ASIC hands-off code monitoring approach

The Association of Financial Advisers believes the approach adopted by ASIC will give the Financial Adviser Standards and Ethics Authority an opportunity to engage in gen...

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 ...