COMPLIANCE

Funds management

Merrill Lynch has paid a $96,000 infringement notice penalty after it filled an order that “had the potential to damage the reputation and integrity of the market”....

Policy & Regulation

Deloitte argues that FOFA taken together with other initiatives suggests the regulatory pendulum has swung too far....

Financial planning

The Law Council of Australia’s Business Law Section has urged against extending ASIC’s powers to encompass product intervention....

Financial planning

ASIC has cancelled the AFSL of Global Derivative Services after it failed to comply with licence obligations...

Financial planning

ASIC has confirmed it has tightened its approach on enforceable undertakings in the wake of those applying to Commonwealth Financial Planning and Macaquarie Private Wealt...

Life/Risk

Suncorp Life chief executive, Geoff Summerhayes wants Treasury to get life/risk legacy product rationalisation back on agenda....

Financial planning

The founder and director of the responsible entity for two MISs which were wound up owing around $200 million is fined $10,000 for failing to assist the liquidators....

Life/Risk

ANZ has used its second submission to the FSI to back the imposition of time limits on life insurance claims similar to those applying to general insurance....

Financial planning

AWI declares van Eyk Research to be no longer a strategic asset and that it no longer has aspirations to move to control....

Superannuation

New ATO data confirms most Australians have just one superannuation account....

Financial planning

APRA uses draft guidance to tell the banks, AMP Limited, Macquarie, Suncorp and Challenger that operational separation is not an option for avoiding losses....

Financial planning

Commbank Wealth Management head, Annabel Spring says the group will remain focused on its existing strategy....

Financial planning

Avaloq points to Australian compliance rating....

Financial planning

Law firm suggests simple licensing compliance is the best way of avoiding undue regulatory attention....

Financial planning

Your Super Accountant has paid a $2040 infringement notice penalty in relation to potentially misleading statements about the cost of setting a self-managed superannuatio...

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MARKET INSIGHTS

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Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

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