ASIC

Financial planning

Westpac offers thin response to ASIC charges

Westpac has responded to civil charges brought against it by the regulator for poor financial advice by saying that it had already identified and responded to the alleged...

Policy & Regulation

ASIC mounts civil action against Westpac

The Australian Securities and Investments Commission has broken new ground by pursuing a civil case against Westpac as the licensee of a miscreant and now banned adviser....

Financial planning

ASIC cites planners in critique of sales culture

The Australian Securities and Investments Commission has cited the adverse impact of a sales culture in financial planning as it argues against revenue-based remuneration...

Financial planning

Dover, not ASIC determined outcome

The Australian Securities and Investments Commission was left with little discretion around the future of Dover Financial Services with the licensee exercising its right ...

Policy & Regulation

Will the industry get value for its regulatory dollar?

There have been new calls for greater transparency around how the financial services regulators are spending the levies extracted from the industry....

Financial planning

ASIC warns licensees on Dover recruits

The Australian Securities and Investments Commission has issued a warning to licensees on the need to undertake appropriate due diligence when appointing advisers “who ha...

Policy & Regulation

Wilsons Advisory cops $35,000 penalty

Wilsons Advisory and Stockbroking Limited has been fined $35,000 for infringing the Australian Securities and Investments Commission’s Market Integrity Rules. ...

Financial planning

Dover advisers left in limbo

More than 400 Dover Financial Services advisers face an uncertain future amid confirmation of cancellation of the firm’s Australian Financial Services License and consequ...

Policy & Regulation

Former NAB adviser banned

The Australian Securities and Investments Commission has permanently banned a former National Australia Bank adviser. ...

Policy & Regulation

Banks drag heels on breach reporting, until now

Banks and others were taking up to four years to deal with breach reports but the Royal Commission has caused a shake-up, generating a 39 per cent spike....

Policy & Regulation

BBY Advisory and SmarTrader lose AFSL

The Australian Securities and Investments Commission has cancelled the Australian financial services licences of BBY Advisory and SmarTrader. ...

Financial planning

Royal Commission miscreants to escape tougher rules

Licensees identified by the Royal Commission as having done the wrong thing will escape the tougher penalties recommended by the Australian Securities and Investments Com...

Financial planning

Former AMP adviser banned for five years

The Australian Securities and Investments Commission has banned a former AMP financial adviser for five years, after finding that he gave advice which was “well below com...

Policy & Regulation

ACCC to lay criminal cartel charges against ANZ

The competition regulator said it expects the Commonwealth Director of Public Prosecutions to lay criminal cartel charges against ANZ and the bank’s group treasurer Rick ...

Policy & Regulation

ASIC gives financial firms AFCA transition relief

The regulator has said it would give financial firms, including super trustees, until 1 July 2019 to update mandatory disclosure documents and periodic statements with th...