australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

ASIC's conflicted remuneration proposals inconsistent

A number of the ASIC's proposals for conflicted remuneration payments are claimed to be inconsistent with current financial services law and have little to do with the pr...

Financial planning

Barclays pays $80,000 penalty

Barclays Bank has paid a penalty to ASIC for withdrawing client funds without approval and failing to return the money for five business days....

Editorial

Why APES 230 goes further than FOFA

The trouble with APES 230 is that it goes much further than FOFA, with a prohibition on commissions and the elimination of asset-based fee arrangements....

Financial planning

ASIC challenges Wellington Capital in court

The Federal Court will decide whether Wellington Capital's decision to distribute shares, rather than cash, to unit holders in Premium Income Fund was legal....

Editorial

The role of the ACCC in financial services

There has been a tendency to forget about the ACCC ever since the regulation of consumer protection in the financial services industry moved to ASIC in 2001. But as Grant...

Editorial

ASIC turns the idea of 'innocent until proven guilty' on its head

The Australian Securities and Investments Commission has outlined the draft ground rules on conflicted remuneration and, as Mike Taylor writes, there are inevitable impac...

Financial planning

Madison to base compliance around estate planning

Madison Financial Group is rolling out a compliance framework that uses estate planning as a context for the best interests duty....

Financial planning

ASIC targets complex retail products

Complex retail products will come under the ASIC's scrutiny due to poor market returns and growth in the self-managed super fund (SMSF) sector....

Editorial

Independent financial advisers are alive and well

While FOFA and a number of other factors have seen many planners moving under the umbrellas of the major banks and institutions, the independent financial advice sector i...

Financial planning

ASIC provides new information guides on reporting misconduct

The Australian Securities and Investments Commission (ASIC) has released information to the public in relation to its approach to handling tip-offs, complaints, informati...

Financial planning

Opposition questions ASIC

The Federal Opposition has questioned ASIC over its failed move against Fortescue Metals....

Financial planning

ASIC to presume guilt on volume rebates

Financial planning groups will lose the presumption of innocence where volume rebates are concerned....

Financial planning

Credit Suisse pays $52,000 penalty to ASIC

Credit Suisse's Australian equities arm has paid a $52,000 penalty to ASIC after a glitch in its automatic order processing system was found to have breached "the efficie...