australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

ANZ backs down on ad conditions after ASIC probe

ANZ has agreed to send out gift cards to income protection insurance customers after ASIC concerns....

Superannuation

APRA refines super reporting standards

APRA has revised six of its superannuation reporting standards after complaints of confusion from key stakeholders....

Financial planning

Whittaker Macnaught slowly disappears as ASIC cancels licence

ASIC cancels licence of CBA-purchased planning group nine months after deal concluded. ...

Financial planning

ASIC bans director and authorised representative for misleading conduct

Regulator permanently bans former authorised representative and director of an investment trustee for misleading and deceptive conduct....

Financial planning

Disclosure ineffective deterrent for law breakers: ASIC

ASIC frustrated that the penalty regime imposed is less than the profit companies gain from poor behaviour, and that disclosure is no longer a 'disinfectant’ for law-brea...

Superannuation

ASIC and APRA clarify MySuper approach

ASIC and APRA jointly clarify the need for consistent information on MySuper products....

Editorial

Keeping our regulators non-political

The executive director of the Revenue Group within the Federal Treasury, Rob Heferen, made a very important point to last month’s SPAA conference in Brisbane: any change ...

Financial planning

CommFP whistleblower blasts lax ASIC

Commonwealth Financial Planning whistleblower Jeffrey Morris claims ASIC failed to act to cover its own incompetence....

Financial planning

ASIC’s penalty structure lags globally

Australia’s corporate regulator is severely limited in the range and severity of penalties it can hand out for wrongdoing - particularly compared to the US and UK, a revi...

Financial planning

ASIC set to cut staff

ASIC is facing a permanent reduction in funding and is looking to cut staff as a result....

Superannuation

SMSF provider slapped with $10k fine

A self-managed super fund (SMSF) provider has paid a $10,200 infringement notice penalty for misleading advertising on the cost of setting up an SMSF....

Financial planning

ASIC cancels licence of securities adviser

Business of securities adviser subject to an enforceable undertaking has licence cancelled....

Editorial

Detecting the self-interest in criticisms of FOFA changes

Based on recent media coverage, it would be easy to believe that the Abbott Government was quite recklessly setting about dismantling all the consumer protections contain...