ASIC

Financial planning

How many licensees successfully filed their first IDR report?

ASIC has issued its first update since the completion of the internal dispute resolution reporting deadline, sharing the percentage of first-time reports that were submit...

Financial planning

Sydney wealth manager sees AFSL cancelled

ASIC has cancelled the AFSL of Sydney-based wealth manager, the third Sydney firm to face this action since the start of the year. ...

Financial planning

FSCP by numbers: Which issues are occurring most?

There have been 16 outcomes issued by the Financial Services and Credit Panel since its launch in 2023, which issues or breaches are frequently occurring?...

Funds management

ASIC defeated in major crypto case

The regulator has lost a case against Finder regarding crypto products in the Federal Court, with the comparison site stating that “innovation always moves faster than re...

Financial planning

Enforceable undertaking rise highlights ASIC’s return to litigation era

The fact there has already been two enforceable undertakings this year, including one from a former adviser, compared to just five in 2023 indicates ASIC is returning to ...

Financial planning

ASIC seeks advisers’ feedback on digital systems

ASIC is seeking to hear the views of users in order to improve the design of its digital services and will be conducting interviews this month. ...

Financial planning

FSCP issues latest outcome regarding SOAs

The Financial Services and Credit Panel has made its latest decision on a case regarding Statements of Advice and rolling over superannuation funds....

Financial planning

Court rules on licensee’s conflicted remuneration case

The Federal Court has ruled financial advice licensee RM Capital failed to take reasonable steps to prevent its authorised representative from accepting conflicted remune...

Financial planning

IDR reports are in, but what’s next?

All eyes are now on ASIC as licensees await how the regulator will use the internal dispute resolution regime data submitted as the deadline is reached....

Financial planning

‘ASX Wolf’ finfluencer hit with bankruptcy orders

ASIC has successfully obtained orders to bankrupt finfluencer Tyson Scholz for his failure to pay Federal Court costs of more than $450,000....

Financial planning

NextGen sees AFSL cancelled by ASIC

ASIC has cancelled the Australian financial services licence of NextGen Financial Group, following the Federal Court’s order in November for the firm to be wound up in in...

Financial planning

Bragg calls for ‘heads on spikes’ over wrongdoing

Dixon Advisory is a prime example of ASIC’s lack of enforcement action and wrongdoing will continue unless there are “heads on spikes”, according to Senator Andrew Bragg....

Financial planning

ASIC flags licensees’ role in super underperformance oversight

ASIC has shared findings on the role of advice licensees in the oversight of superannuation fund performance, highlighting their approved product lists and use of researc...

Financial planning

What has Bragg concluded from ASIC inquiry?

Senator Andrew Bragg has shared his biggest takeaway from chairing the Senate’s ASIC inquiry ahead of the publication of its final report, while calling for a wider finan...

Financial planning

Former Melbourne adviser sees court-enforceable undertaking

ASIC has accepted a court-enforceable undertaking from a former Melbourne financial adviser regarding advice on self-managed superannuation funds. ...