THE FOLD

People & Products

The new breach reporting regime which is due to commence on 1 October, 2021, has an expanded significant test and will require licensees to lodge a report within 30 days ...

Financial planning

The increased volume of reports generated from upcoming changes to the Australian Securities and Investments Commissions new breach reporting regime runs the risk of over...

Financial planning

Questions are being asked about whether the Australian Securities and Investments Commission has been wrong to treat asset consultants differently to financial advisers i...

Policy & Regulation

The Commonwealth Bank is facing court action initiated by the Australian Securities and Investments Commission which might have been avoided if it had properly and transp...

Life/Risk

A law firm has raised the prospect of the Australian Securities and Investments Commission using its new Product Intervention Power with respect to insurance adviser remu...

Financial planning

Those looking to acquire advice firms may be well-advised to terminate advisers if they have questionable regulatory compliance histories....

Financial planning

Advisers recommending in-house managed account products to clients could be subject to scrutiny on whether it is a conflict of interest, according to The Fold. ...

Financial planning

Licensees in an agreement with unlicensed product issuers cannot deal in a financial product unless they are issuing, varying, or disposing for the product issuer, accord...

Financial planning

The corporate watchdog now has the ability to assess the suitability of firms applying for an Australian financial services licence through a ‘fit and proper’ person test...

Financial planning

The Financial Adviser Standards and Ethics Authority code of ethics may be in force but no authority is in place to oversee its enforcement and the Australian Securities ...

Financial planning

A senior financial services lawyer has warned that managed accounts may equate to the selling of in-house assets in the eyes of the Australian Securities and Investments ...

Policy & Regulation

With ASIC having recently stopped a number of retail initial coin offerings and token generation events, The Fold Legal finds that tokens don’t always fit neatly into the...

Policy & Regulation

New analysis from legal firm The Fold points to the dynamics of the financial services industry having changed by Australian Securities and Investments Commission licensi...

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

1 day 23 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 2 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 5 days ago