enforcement

Financial planning

How much did Melissa Caddick’s enforcement action cost the advice sector?

The actions of Sydney fraudster Melissa Caddick have resulted in heavy costs for the financial advice subsector, as the FAAA calls for costs of enforcement against unlice...

Superannuation

ASIC to further target superannuation in 2024 priorities

ASIC has announced its enforcement priorities for 2024, which include two new points relating to the superannuation industry....

Financial planning

ASIC levy prompts doubling of ongoing fees for Qld adviser

A Queensland financial adviser has detailed how the latest ASIC levy increase has caused him to double the ongoing advice fee for his clients to meet the cost....

People & Products

ASIC makes executive team appointments

The corporate regulator has announced several appointments to its executive leadership team, as it reaches the final stages of executing its new organisational structure....

Funds management

ASIC unveils 2023 enforcement targets

Greenwashing, predatory lending and misleading insurance are all on ASIC’s enforcement radar for 2023. ...

Financial planning

ASIC levy to continue to fund litigation

The corporate watchdog has confirmed it will use 80% of its funding towards enforcement, supervision, and surveillance activities for financial year 2021-22....

Policy & Regulation

ASIC not to monitor or enforce adviser code of ethics

Under the Corporations Act, the Australian Securities and Investments Commission does not have a role as a code monitoring body and is prevented from exercising its power...

Policy & Regulation

Court cracks down on unnecessary liquidator charges

Liquidators should pay heed to a decision from the Federal Court to fix the remuneration of the liquidators of three Adelaide companies at $3.9 million, compared to the $...

Life/Risk

ASIC may want codes of practice strengthened before granting approval

ASIC will likely require some insurance code of practice provisions are strengthened before it approves the code, and these requirements may extend to other industry bodi...

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Policy & Regulation

APRA reveals enforcement strategy terms of reference

The prudential regulator has announced the terms of reference for a review of its enforcement strategy....

Policy & Regulation

Gov puts money, confidence behind APRA chair

The Morrison Government has reappointed Australian Prudential Regulation Authority (APRA) chair, Wayne Byres, for five more years and committed $58.7 million of new fundi...