SARAH COURT

Financial planning

ASIC has been granted permission to shut down almost 100 websites running investment scams, with the Federal Court describing how its victims were “fattened like pigs to ...

Financial planning

ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes t...

Financial planning

ASIC has said it is exploring whether there are concerns regarding Macquarie and Equity Trustees for hosting platforms where investors rolled over their superannuation in...

Financial planning

Financial advisers receive the second-highest expenditure in ASIC’s financial services and wealth division, according to documents, ahead of investment managers and super...

Funds management

The corporate regulator has outlined its philosophy in dealing with greenwashing and the by-product of greenhushing, having already reported around 35 of such interventio...

Financial planning

Appearing at Senate estimates, ASIC deputy chair Sarah Court has claimed the $7.2 million penalty issued to Dixon Advisory was made to send a “deterrent message” as the f...

Funds management

The corporate regulator has commenced civil penalty proceedings against Westpac for failing to respond to 229 customer hardship notices within the required time limit....

Policy & Regulation

ASIC staff need to consider if they are taking on enough risk in choosing cases to litigate, according to chair Joe Longo, prompting a Senate committee to ask if it shoul...

Superannuation

The superannuation fund is the first licensee to have a civil penalty imposed for failing to report breaches to the corporate regulator since its new penalty powers were ...

Financial planning

In an unprecedented move, the corporate regulator has launched multiple civil penalty proceedings again the bank for matters including fee-for-no-service for deceased cus...

Financial planning

The Australian Securities and Investments Commission has said it will bring back the use of the enforceable undertakings....

Financial planning

Ahmed Saad will serve a nine-month prison sentence for illegally allowing clients to withdraw superannuation funds from 2016 to 2017. ...

Life/Risk

The corporate regulator alleges MLC Life Insurance, in some instances, failed to pay life insurance benefits, notify on premium rises or refund premiums, amongst other br...

Superannuation

The Federal Court has ordered Colonial First State Investments Limited to pay a penalty of $20 million for misleading communications with members. ...

Policy & Regulation

If the corporate regulator had funds awarded by penalties put into the financial advice levy it could look like a new revenue stream aimed at players with deep pockets....

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 3 weeks ago

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

5 months ago

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

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 5 days 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...

1 week 1 day ago

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

2 weeks 4 days ago