ASIC

Financial planning

FPA and AFA join forces on life/risk commissions

The Financial Planning Association and the Association of Financial Advisers have formed a joint taskforce to help guide the future of life/risk commissions....

Financial planning

AMP admits planner wrongdoing

AMP Limited has handed the Australian Securities and Investments Commission a victory by admitting wrongdoing and failing to ensure AMP financial planners acted in the be...

Policy & Regulation

ASIC chair issues industry ‘fairness challenge’

Australian Securities and Investments Commission (ASIC) chair James Shipton has issued a ‘fairness challenge’ to the financial services industry....

Outsider

OMG, LOL, ASIC seems to be serious about social media

Outsider happens to know that the Australian Securities and Investments Commission has a very serious social media strategy, but he really does wonder whether any of the ...

Policy & Regulation

ASIC clarifies litigation approach

The Australian Securities and Investments Commission has clarified the circumstances in which it is likely to litigate financial services breaches....

Financial planning

Sydney former adviser banned for six years

The Australian Securities and Investments Commission has banned a Sydney man, formerly an adviser at Kaz Capital, from providing financial services for six years....

Policy & Regulation

ASIC suggests formal IDR complaint recognition of Twitter comments

Financial firms which receive adverse comments on social media such as Twitter will be required to recognise them as legitimate complaints under the Australian Securities...

Financial planning

ASIC cracks down on dual ARs

The Australian Securities and Investments Commission has revoked the authorisations of 58 authorised representatives who it found had been inappropriately dual-authorised...

Funds management

ASIC obtains declarations against Goldsky companies

ASIC has obtained declarations against three Goldsky entities that have breached the Corporations Act by operating a financial services business without an Australian Fin...

Policy & Regulation

ASIC spotlights industry fund vertical integration

The Australian Securities and Investments Commission has broken new ground by imposing a penalty on HostPlus based on the commercial links and consequent service agreemen...

Policy & Regulation

Regulators band together to urge LIBOR transition

The Australian Securities and Investments Commission has written to the chief executives of several major financial institutions, encouraging them to transition away from...

Life/Risk

ASIC may want codes of practice strengthened before granting approval

ASIC will likely require some insurance code of practice provisions are strengthened before it approves the code, and these requirements may extend to other industry bodi...

Financial planning

Former financial adviser pleads guilty

Former financial adviser, Trevor William Martin, has pleaded guilty to dishonestly obtaining client funds....

Financial planning

Lonsec makes strategic IMA planner offer

Research and ratings house, Lonsec has made a strategic offer to advice licensees to take control of their managed account portfolios....

Financial planning

Sydney wealth firm sees licence suspended by ASIC

The Australian Securities and Investments Commission (ASIC) has suspended the licence of Sydney-based Australasia Wealth Services Management (ASWM) for failing to meet re...