australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Life/Risk

Are risk commissions out of line with best interests?

Risk commissions may be a mis-match for best interests duties, with the current product-driven framework incentivising insurance options that could distract advisers from...

Financial planning

ASIC moves against LM Investment Management directors

ASIC has begun civil proceeding against the founder and former directors of LM Investment Management Ltd alleging the directors failed in their duties to act with diligen...

Policy & Regulation

ASIC urged to be facilitative on FOFA

The FPA has urged a facilitative approach from ASIC as planners seek to comply with the Senate imposed FOFA reversal....

Superannuation

ASIC makes retirement estimates safer

Towers Watson points to key retirement estimate benefits flowing from ASIC guidance....

Financial planning

Advisers should get SMSF-specific training

AMP SMSF has backed calls for making it compulsory for financial advisers to undertake specific training if they are going to advise on SMSFs....

Financial planning

Charge dropped for Storm Financial adviser

A former Storm Financial adviser has had a charge against him dropped after an elderly witness deemed critical to the prosecution’s case died, ASIC reports. ...

Financial planning

ASIC bans Victorian adviser for unauthorised activity

A Victorian financial adviser has been banned from providing financial services for seven years after an ASIC investigation found he had breached “numerous financial serv...

Financial planning

ASIC appoints forensic specialist to examine CBA planning licences

ASIC has appointed KordaMentha Forensic to identify high risk advisers within Commonwealth Financial Planning and Financial Wisdom and to review the licence conditions of...

Financial planning

ASIC warns against ‘gaming’ general advice

ASIC deputy chairman, Peter Kell warns against ‘gaming’ the general advice regime....

Financial planning

ASIC accepts EU from Aurora

ASIC has accepted an enforceable undertaking (EU) from Aurora as part of the regulator’s wider surveillance of the hedge fund sector....

Financial planning

Scaling back advice

It's been an issue that's ruffled feathers across the industry, but is scaled advice finally gaining traction in the planning world? Kate Cowling investigates. ...

Financial planning

ASIC to conduct intra-fund advice surveillance

ASIC deputy chairman, Peter Kell has confirmed intra-fund advice is on the regulator's surveillance radar....

Financial planning

Plan to escape the legal traps

As risk planning remains a hot topic in the financial advice space, Malavika Santhebennur explores the top 10 legal quandaries planners can find themselves in and how to ...

Editorial

Fixing insurance flaws

While plenty of attention has been directed towards advisers and the sale of life/risk products, Mike Taylor writes that a recent ASIC Review of general insurance has rev...

Editorial

Getting regulatory value for money

For the chief executives of financial services companies struggling to fund the cost of compliance in an ever-changing regulatory environment, the 2013-14 annual report o...