australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Policy & Regulation

FOFA amendment changes extra levers to prosecute advice disputes

Changes to FOFA amendments agreed between the Government and PUP will act as levers against a planner in a dispute with a client....

Financial planning

CBA accepts new AFSL conditions on planning arms

ASIC has imposed new conditions on the AFSLs of CommFP and Financial Wisdom....

Financial planning

Regulators told to toe the line with Government

Treasury issues ‘Statement of Expectations’ to ASIC and other Australian regulators, asking them to adhere to its broad policy framework....

Editorial

When reason rules

The adviser’s best interest duty leaves a question mark hanging over what constitutes “reasonable” advice, Merton Miles writes....

Superannuation

Don’t let SMSFs become the next Storm: Kell

One of Australia’s regulators fears self-managed super funds could expose investors to inappropriate borrowing strategies, but doesn’t see a role for itself in guarding t...

Financial planning

ASIC talks on listed entity disclosure

Listed entities should prioritise continuous disclosure obligations over any other stakeholder engagement goals, ASIC Commissioner John Price said....

Financial planning

Shine Lawyers to investigate FTS

Class action specialists, Shine Lawyers, are investigating claims against Queensland based financial advice firm FTS....

Financial planning

Credit Suisse fined for market error

Credit Suisse has paid a fine of $88,400 for a costly trading error that was not properly reported. ...

Financial planning

ASIC cancels seven AFSLs

ASIC has cancelled the AFSLs of seven licensees who did not have adequate professional indemnity insurance....

Financial planning

SFG shareholders back IOOF acquisition

SFG Australia Limited shareholders have voted to support IOOF Holdings Limited’s proposed acquisition of 100 per cent of the company’s ordinary shares....

Financial planning

ASIC accepts EU from PGW

ASIC has accepted an enforceable undertaking (EU) from PGW Financial Services....

Financial planning

FOS rebuts harsh criticism

The Chief Ombudsman has sought to refute claims that FOS is unaccountable and in urgent need of review....

Funds management

ASIC confers on derivatives reporting

ASIC is seeking industry feedback to proposed changes to the rules that require compulsory trade reporting of OTC derivatives....

Policy & Regulation

Macquarie says its on track on EU

Macquarie has used its AGM to claim it is on track in meeting the terms of its 2013 Macquarie Private Wealth enforceable undertaking....

Financial planning

Automated advice and social media remains unchartered domain

Regulators around the world are still trying to grapple with the unique challenges of regulating the use of mediums like social media and automated advice by intermediari...