australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

Former Bell Potter client adviser charged with dishonest conduct

A former Bell Potter employee has been charged with five counts of dishonest conduct involving more than $1.8 million, following an investigation by the corporate regulat...

Financial planning

Sonray director faces 24 criminal charges

The director of collapsed brokerage firm Sonray Capital Markets, Russell Johnson, has appeared in Melbourne Magistrates Court after his arrest on 24 criminal charges foll...

Financial planning

Intra-fund advice class order hardly used

ASIC has been told its class order relief on intra-fund advice might have been better used if it had been available to related entities....

Financial planning

Financial planner faces 27 dishonest dealings charges

A Port Pirie financial adviser has appeared in court on one charge of deception and 27 charges of dishonest dealings with documents, brought by the Australian Securities ...

Superannuation

Stronger Super's off-market transfer ban contentious

SMSF specialists regard the proposed ban on off-market transfers as a bad element of Stronger Super....

Policy & Regulation

FOFA unlikely to increase uptake of financial advice, says survey

While the majority of self managed superannuation fund (SMSF) professionals believe the proposed Future of Financial Advice (FOFA) changes will improve the standard of fi...

Editorial

Financial planning licensees defy ASIC's expectations

Despite some media reports to the contrary, Mike Taylor writes that the top 20 licensees in the financial planning industry emerged in reasonable shape from ASIC’s review...

Life/Risk

PI insurance needs to change

The way professional indemnity (PI) underwriters assess a financial planner's risk coupled with ambiguous regulatory guidelines means a fresh approach to product regulati...

Financial planning

'Mutual fund' without AFS licence cops freeze on finances

The Australian Securities and Investments Commission (ASIC) has obtained urgent Federal Court orders to preserve funds held by a Queensland company operating as a mutual ...

Life/Risk

ASIC permanently bans insurance agent

ASIC has permanently banned a Tasmania-based insurance agent from providing financial services after being convicted of fraud offences....

Financial planning

ISN calls for stronger consumer protection

The Industry Super Network (ISN) has called for "watertight" consumer protection requirements to guard against future financial planning "scandals"....

Financial planning

Citibank manager banned for false transactions

ASIC has permanently banned a former Citibank manager from providing financial services after an investigation found she had been conducting false client transactions, in...

Financial planning

Six-year APRA ban for Trio director

Former Trio director Keith Finkelde has entered into an enforceable undertaking with APRA that will see him barred from acting as the trustee of an APRA-regulated super e...

Financial planning

Accountant exemption removal could lower financial advice access

The IPA says removing the accountants' exemption for financial advice on SMSFs could potentially lower access to advice rather than improve it....

Financial planning

Unclear best interest guidelines spell trouble

Treasury should fix the uncertain best interest guidelines so that advisers are clear on the extent they are protected from legal claims brought by disgruntled clients, a...