regulation

Policy & Regulation

Hundreds of firms in Australia affected by Brexit

The Australian Securities and Investments Commission has confirmed hundreds of firms operating in the Australian financial services industry are affected by the United Ki...

Financial planning

Dishonest adviser faces decades in jail

A former Adelaide financial adviser has pleaded guilty to 29 dishonesty offences committed when he was a planner, after ASIC found that he stole around $4.88 million from...

Policy & Regulation

IPA welcomes instant write-off extension

The Institute of Public Accounts has commended the Government’s decision to extend the instant asset write-off for small businesses to 2020, but argues it should be a per...

Policy & Regulation

Change is still a way off on ALRC proposal: Honan

Despite the Australian Law Reform Commissions’ recent recommendations stemming from its Inquiry into Class Action Proceedings and Third-Party Litigation Funders, Honan In...

Financial planning

ASIC bans inadequately trained planner

A Hobart financial planner who was not sufficiently trained, despite holding a Diploma of Financial Planning from Kaplan, or competent to provide financial services has b...

Policy & Regulation

Tax agents banned following consumer complaints

Two registered tax agents, QTR Accountants and Nicoh Group, have had their registrations terminated following 19 consumer complaints about their conduct....

Policy & Regulation

Kaz Capital hit with further compliance review

ASIC has imposed additional conditions on the Australian financial services licence of Kaz Capital, following concern on the adequacy and effectiveness of the company’s c...

Policy & Regulation

Where are this year’s pre-Budget submissions?

Industry organisations and firms have until 1 February to lodge a pre-Budget submission with the Federal Treasury but, thus far, no one actually has....

Policy & Regulation

When being a chartered accountant is not enough

Having an unblemished record as a chartered accountant is not justification in itself for being granted an Australian Financial Services License, according to the Adminis...

Superannuation

ASIC weak on super fee disclosure: ISA

Industry Super Australia has warned that the Australian Securities and Investments Commission’s latest recommendations on super fee disclosure don’t go far enough in crea...

Policy & Regulation

Academics urge board to monitor ASIC and APRA

A new research paper developed by three academics has urged the imposition of an over-arching assessment board to oversight the effectiveness of the Australian Securities...

Policy & Regulation

IOOF’s Kelaher and Venardos step aside

IOOF managing director, Christopher Kelaher and chairman George Venardos have stepped aside from their positions pending the outcome of the Australian Prudential Regulati...

Policy & Regulation

APRA moves to disqualify IOOF executives including MD

The Australian Prudential Regulation Authority has initiated action against IOOF including seeking the disqualification of its most senior executives, including managing ...

Policy & Regulation

Planning licensees amongst biggest ASIC funders

The new industry funding model for the Australian Securities and Investments Commission will see financial planning licensees and credit providers carrying some of the gr...

Financial planning

ASIC punishes Solar for licensee oversight

The Australian Securities and Investments Commission has cancelled the licence of a Sydney-based financial advisory firm following surveillance into potential issues of l...