ASIC

Policy & Regulation

MSWMA called out for false independence claim

Morgan Stanley Wealth Management Australia has been compelled by the Australian Securities and Investments Commission to amend a false claim of independence for its advic...

Financial planning

Exclude advice from product intervention, says FPA

The Financial Planning Association (FPA) has welcomed the fact that financial advice and how it is delivered has been excluded from draft legislation handing the Australi...

Policy & Regulation

ASIC calls on businesses to fulfil funding obligations

The regulator has called on businesses to submit some operational information before 27 September 2018 as part of industry funding arrangements introduced last year....

Policy & Regulation

ASIC will get to write its own code of conduct

The Australian Securities and Investments Commission has confirmed that it will get to write its own code of conduct once it becomes separated from the Australian Public ...

People & Products

O’Dwyer launches National Financial Capability Strategy

Minister for Revenue and Financial Services, Kelly O’Dwyer, has launched the 2018 National Financial Capability Strategy. ...

Policy & Regulation

RC questions whether ASIC used its powers

The Royal Commission has acknowledged that the Australian Securities and Investments Commission wants more powers but has questioned whether it has ever used all the powe...

Financial planning

Kell admits ASIC acted too slowly on grandfathered commissions

ASIC deputy chair, Peter Kell, has admitted to the Royal Commission that while the regulator has not paid enough attention to grandfathered commissions in the past, it is...

Policy & Regulation

ASIC disqualifies Queensland SMSF auditor

The Australian Securities and Investments Commission has disqualified a Queensland self-managed superannuation auditor. ...

Policy & Regulation

SMSF auditor disqualified for independence breach

A New South Wales self-managed superannuation fund auditor has been disqualified for breaching independence requirements....

Superannuation

Literacy won’t close super gap: ISA

Industry Super Australia has said closing the superannuation gender gap will take more than ASIC’s financial literacy efforts....

Policy & Regulation

ASIC slaps permanent ban on JJ Global director

The investments regulator has permanently banned Vicky Bee Chin Lim, the sole director of a firm closely affiliated with Malaysia’s JJ Global Network Holdings, from provi...

Policy & Regulation

Banks pledge to improve fraud protection

Five Australian banks have agreed to improve their compliance measures and controls for deposit accounts that can be operated by a third party, such as a financial advise...

Policy & Regulation

ASIC obtains orders against Linchpin, Endeavour

The Federal Court has made interim orders in proceedings brought by the investments regulator against Linchpin Capital Group and Endeavour Securities (Australia) Ltd....

Financial planning

End grandfathered commissions ASAP, says ASIC

The Australian Securities and Investments Commission has told the Productivity Commission that grandfathered commissions should be brought to an end as soon as possible....

Superannuation

ASIC raises absence of ‘best interests’ obligation for employers

The Australian Securities and Investments Commission has noted the absence of a ‘best interests’ obligation on employers when selecting default superannuation and the lac...