regulation

Financial planning

ASIC brings proceedings against NSW adviser

The Australian Securities and Investments Commission (ASIC) has commenced proceedings against financial adviser Graeme Walter Miller and his related businesses....

Policy & Regulation

Government looks to crack down on white collar crime

The Federal Government has accepted the majority of the Senate White Collar Crime Report’s recommendations, as it seeks to look like it’s cracking down on penalties for c...

Policy & Regulation

Morrison expects full imposition of BEAR

The Federal Treasurer, Scott Morrison has warned the major banks against using board seats as a retirement sinecure, pointing to the Government’s willingness to fully exe...

Policy & Regulation

ASIC takes aim at “initial coin offerings”

The regulator has set its sights on misleading or deceptive conduct in the marketing or selling of “initial coin offerings” of digital or virtual tokens....

Policy & Regulation

ASIC and APRA accountability up to Royal Commissioner

The Federal Treasurer, Scott Morrison has said that it is a matter for the Royal Commission whether the Australian Securities and Investments Commission and the Australia...

Policy & Regulation

Gaps and loopholes confirmed in financial services regulation

A letter from the Australian Information Commissioner has confirmed the existence of exploitable gaps and loopholes in the Australian financial services regulatory regime...

Policy & Regulation

Government boosts penalties for misconduct

The Turnbull Government will strengthen criminal and civil penalties for corporate and financial misdeeds, following revelations of staggering misconduct in this week’s R...

Superannuation

SMSFs staying put due to regulation, volatility

The impact of regulation and continuing volatility on retirement plans is prompting a growing number of self-managed super fund trustees to increase cash reserves. ...

Policy & Regulation

Govt focuses BEAR on big banks

The Federal Government has focused its Bank Executive Accountability Regime on the four big banks, giving smaller institutions an extra year plus more flexibility....

Financial planning

ASIC warns on ‘general advice’

Replacing the term ‘general advice’ represents a positive step but it may need to be replaced by multiple terms and arrangements, according to the Australian Securities a...

Funds management

PFA warns that regulation could hurt retail investors

A proposal by Treasury to increase regulation for unlisted property products could lead to fewer products being available to retail investors, the Property Funds Associat...

Policy & Regulation

ASIC may have to consider competition

In the midst of a Productivity Commission inquiry into competition in financial services, the Government has proposed measures to make the Australian Securities and Inves...

Policy & Regulation

Parliamentary scepticism on insurance co-regulation

The voluntary approach to industry self-regulation in the life insurance industry is not working and needs compulsion....

Life/Risk

Industry codes need “teeth”

Life insurance industry codes need to have regulatory oversight and enforceability to properly hold insurers to account, according to a report from the Parliamentary Join...

Policy & Regulation

Just five firms using ASIC’s sandbox

The Australian Securities and Investments Commission has admitted only five firms are using its so-called regulatory sandbox, with many others utilising pre-existing alte...