danielle press

Financial planning

ASIC denies knowledge of intra-fund extension

It will be up to the Government to determine whether superannuation funds will be able to use member cross-subsidies to fund intra-fund advice, according to the Australia...

Features

2019 – a year of uncertainty from beginning to end

Mike Taylor writes that 2019 proved challenging for the financial advice industry not least because of the Royal Commission and the Government’s determination to impleme...

Policy & Regulation

APRA, ASIC to share data

In a bid to lift regulatory burden on super funds the two regulators are looking to share data for areas of common interest....

Financial planning

Extra ASFL condition for IOOF Investment Services

ASIC has imposed additional conditions to improve governance and conflicts management after considering Royal Commission concerns....

Policy & Regulation

ASIC challenged on ‘scary’ SMSF factsheet

A key parliamentary committee chairman has challenged the Australian Securities and Investments Commission on whether it was trying to scare people with its self-managed ...

Policy & Regulation

Former Brisbane financial adviser sentenced for 12 years

Ben Jayaweera has been found guilty of six charges of dishonestly causing detriment to clients, involving approximately $5.9 million....

Financial planning

ASIC issues warning on general advice

The Australian Securities and Investments Commission has issued a warning to firms seeking to operate under a ‘general advice’ model....

Financial planning

ASIC flags life/risk advice surveillance

The Australian Securities and Investments Commission has flagged a surveillance exercise around life/risk advice to back up its assessment of the Life Insurance Framework...

Policy & Regulation

NSW accountant sentenced

Nicholas James Ellis has been sentenced for making false or misleading statements to obtain money from clients and fraudulent misappropriation of client funds....

Superannuation

SMSFs not suitable for everyone

The Australian Securities and Investments Commission has identified eight red flags which would make it ‘extremely unlikely’ for an investor to gain any advantage from us...

Features

InFocus: Asset-based fees – utilitarian or inappropriate?

Mike Taylor writes that while the critics of asset-based fees paint them as being as inappropriate as commissions, the commercial evidence suggests their use fills an imp...

Financial planning

ASIC looks to super funds as advice providers

The Australian Securities and Investments Commission has acknowledged the likelihood of an advice gap, particularly for lower income earners, but is looking to superannua...

Policy & Regulation

Bundaberg adviser banned four years

Peter Goudie has been banned by ASIC for prioritising his own interest over his clients’ and not providing SOAs....

Financial planning

ASIC research confirms value of advisers

New research undertaken by the Australian Securities and Investments Commission has confirmed that consumers who use advisers actually value them, but that the industry r...

Policy & Regulation

Former Adelaide financial adviser sentenced

Former Adelaide financial adviser James Gibbs has been sentenced for 10 years imprisonment to theft and other dishonesty offences, totalling approximately $4.88 million....