australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Life/Risk

APRA buys into lapse/churn debate but points to particular problems with respect to directly-marketed products....

Funds management

ASIC releases new guidance for MIS operators

As part of its ongoing review of the sector, the Australian Securities and Investments Commission (ASIC) has released updated regulatory guidance for operators of registe...

Financial planning

ISN claims high frequency trades cost $1.5 billion

Industry Super Network (ISN) has claimed that high frequency trading (HFT) is creating a stock market that caters to speed and not capital allocation - and costs long-ter...

Financial planning

Planners struggling to meet FOFA standard

FPA points to lack of regulatory information as reason for planner unpreparedness for FOFA. ...

Life/Risk

Coalition wants self-regulation on churn

The Federal Opposition says that so far as churn exists in the life/risk sector it should be subject to a self-regulatory approach....

Financial planning

CFPs setting a global standard

The CFP designation is gaining kudos worldwide and in Australia as demand for provable expertise and integrity grows, according to Financial Planning Association CEO Mark...

Financial planning

Merrill Lynch Australia fined for poor market trading processes

Merrill Lynch Equities (Australia) has been fined $120,000 by the Markets Disciplinary Panel (MDP) for not ensuring that it had in place organisational and technical reso...

Funds management

ASIC moves AQUA a step closer

ASIC consultation brings ASX platform a step closer but narrows its focus....

Financial planning

ASIC wins appeal against manager breach

The Australian Securities and Investments Commission (ASIC) has successfully overturned a Federal Court decision to dismiss an application by the regulator in relation to...

Superannuation

Corporate super advisers seek new model

Corporate super advisers will need to team up with super fund administrators to ensure a continuation of their revenue stream as a result of the combined effects of the F...

Financial planning

AFA says insurers must play role in churn talks

AFA chief executive Brad Fox says the AFA will re-engage with the FSC around churn but that the major insurers must also ante up....

Life/Risk

FSC moves to reopen anti-churn framework

Letter from Shorten and consultation with ASIC prompts FSC to reopen moves for self-regulation around churn. ...

Life/Risk

ASIC hints at intense focus on churn

ASIC will spend the next 12 months focusing intensely on churn, according to the senior executive leader of the financial advisers team, Joanna Bird. ...