regulation

Policy & Regulation

An adviser who directed client fees to his own account has been permanently banned by the Australian Securities and Investments Commission....

Superannuation

APRA’s closer scrutiny on how funds spend members’ money

The Australian Prudential Regulation Authority has told superannuation funds they need to more clearly explain where and why they are spending members’ money, particularl...

Policy & Regulation

CBA responds to breach of money laundering laws

The Commonwealth Bank of Australia has admitted to a major breach of Australian money laundering regulations in the wake of AUSTRAC’s investigation....

Life/Risk

ASIC convinces parliamentarians on life/risk advice

The Australian Securities and Investments Commission appears to have been successful in persuading a key Parliamentary Committee of its view on life/risk advice and lapse...

Policy & Regulation

ASIC sends message on advice and MDAs

The Australian Securities and Investments Commission has sent a clear message to Managed Discretionary Account operators that it sees personal advice as a key protection ...

Policy & Regulation

Morrison to Bowen on RC – thanks, but no thanks

The Federal Government has signalled it will not be taking a bipartisan approach to setting the terms of reference for the Royal Commission into the Banking and Financial...

Financial planning

Enforceable undertaking for Foster Stockbroking

The Australian Securities and Investments Commission has accepted an enforceable undertaking from Foster Stockbroking Pty Limited....

Policy & Regulation

How planners will sit in judgement on planners

ASIC has revealed how the planners sitting on it’s the Financial Services and Credit Panel will sit in judgement on their peers and help determine banning orders....

Policy & Regulation

Govt urged to give ASIC more proactive intervention powers

A key Treasury-led taskforce is urging the Government to give the Australian Securities and Investments Commission the power to go beyond procedures such as enforceable u...

Policy & Regulation

O’Dwyer provides just 14 days for AFCA consultation

The Federal Government has provided the industry just 14 days to comment on the establishment of the new Australian Financial Complaints Authority....

Policy & Regulation

ABA argues against collective BEAR punishment

The Australian Bankers’ Association has sought to limit the extent to which bank executives can be punished for the actions of others under the Bank Executive Accountabil...

Funds management

ASIC updates fee transparency for super and managed investment funds

ASIC has continued its work on the improvement of transparency and comparability of fees and costs for managed investment and superannuation funds....

Policy & Regulation

ASIC wants product intervention power with teeth

The Australian Securities and Investments Commission wants its new product intervention power to have enough teeth to preclude participants in the financial services food...

Superannuation

APRA challenges union/employer board nominations

The Australian Prudential Regulation Authority has directly challenged the unquestioned appointment of union and employer nominees to superannuation fund boards....

Policy & Regulation

Show us the regulatory proof of Report 413

On the third anniversary of ASIC Report 413 which gave rise to the Life Insurance Framework there are calls for regulatory proof that it was warranted....