australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

Former adviser to medicos permanently banned for dishonest conduct

ASIC permanently bans adviser after finding he disbursed client funds to parties related to the adviser....

Financial planning

CommFP says ASIC always knew

CommFP counters claims by ASIC that it was not informed of key elements of client compensation arrangements...

Financial planning

Banksia auditor barred for five years

The lead auditor for the Banksia Financial Group will be barred from practising for five years as part of the ongoing investigation into the group being conducted by the ...

Financial planning

Big institutions accused of annexing advice market

The rapid expansion of the Big Four banks and AMP into financial planning could see them seize an 80 per cent stake in the advice market, research suggests. ...

Editorial

Whistling up the watchdog

Mike Taylor writes that if the Senate Committee inquiry reviewing the actions of ASIC has achieved nothing else, it has has identified just how reliant the regulator has ...

Financial planning

ASIC acts against two advisers

ASIC has banned two advisers from providing financial services for up to five years. ...

Financial planning

ASIC admits targeting big dealer groups

ASIC admits it targeted the big planning groups for shadow shopping because it thought it would make the most impact....

Financial planning

ASIC claims CommFP was not “upfront”

ASIC chairman, Greg Medcraft admits ambiguity led to CommFP client compensation failures, but claims the bank was not “upfront”....

Editorial

Digging a deeper hole

Mike Taylor writes that the board of the Commonwealth Bank must be wondering how it was possible for the controversy around Commonwealth Financial Planning to get worse....

Policy & Regulation

ASIC executive claims pre-FOFA exploitation

ASIC executive claims consumer misunderstandings were exploited for the benefit of financial services providers....

Financial planning

Penalties not harsh enough: ASIC

Penalties for financial planners who breach the law are not severe enough, the Australian Securities and Investments Commission believes....

Financial planning

ASIC chair stresses pro-active enforcement actions

ASIC chair Greg Medcraft emphasises regulator’s enforcement efforts and states does best it can with resources to hand....

Financial planning

Industry to pay lower regulator levies

The financial services industry will pay $30 million less to be regulated after the Federal Government released details of the levies that it will be charged to fund the ...