australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Superannuation

SPAA supports ASIC on property spruikers but maintains that, properly-advised, property is a legitimate SMSF investment....

Superannuation

ASIC wants better disclosure on SMSF establishment

ASIC wants people to be better informed about the implications of establishing an SMSF before it occurs. ...

Financial planning

NAB announces $750 million capital raising

National Australia Bank is looking to raise around $750 million through the offer of convertible preference shares....

Financial planning

AIOFP members to undergo compliance review

Member firms of the Association of Independently Owned Financial Professionals will undergo AFSL compliance reviews to identify and remedy potential issues....

Policy & Regulation

ATO confirms review of 11,000 SMSFs

ATO confirms to IPA conference that it intends reviewing around 11,000 SMSFs....

Superannuation

ASIC denies prescriptive disclosure for SMSFs

ASIC wants investors to be better informed before establishing SMSFs but denies it will pursue prescriptive new disclosure requirements....

Financial planning

Sinodinos outlines Govt FOFA objectives

Sinodinos confirms Government’s intentions and timetable on FOFA changes along with moratorium on major change during Financial Systems Review....

Funds management

ASIC warns against unlicensed SMSF property endorsement

ASIC has signalled a crackdown on unlicensed property spruikers who advocate self-managed superannuation fund (SMSF) investment without the proper authority...

Financial planning

Mortgage broker banned for five years

A Melbourne mortgage broker has been banned for five years and his company’s Australian credit licence was cancelled after breaching credit laws....

Financial planning

FPA canvasses co-regulatory model with ASIC

FPA canvasses two-way working relationship between professional bodies such as itself and ASIC....

Financial planning

ASIC rejects report citing bullying and harassment

ASIC has rejected a Money Management report of a union submission citing a culture of bullying and harassment....

Superannuation

SMSF exposure to hybrids worrying ASIC

ASIC chairman Greg Medcraft reinforces the regulator's concerns around SMSF exposure to hybrid securities. ...

Financial planning

ASIC staff claim bullying and budget cuts led to poor performance

Union submission states inefficiencies stem from internal ASIC problems....

Superannuation

ASIC must deter SMSF property spruikers

There is clearly regulatory concern about the activities of property spruikers as they seek to target SMSFs and, as Mike Taylor writes, a clear message needs to be sent. ...