ASIC

Financial planning

The Australian Securities and Investments Commission has flagged greater use of external resources in pursuing its crackdowns on wealth management....

Financial planning

VOFF alleges that ASIC gave criminal an AFSL

Victims of Financial Fraud has alleged that the Australian Securities and Investments Commission failed to acknowledge that it allowed known criminals into the financial ...

Financial planning

New body launched to improve financial capability

The Turnbull Government will establish a new $50 million body to advance financial capability which will largely be funded by settlements paid to the Australian Securitie...

Policy & Regulation

VOFF alleges ASIC is driven by self-interest

Victims of Financial Fraud have again hit out against the Australian Securities and Investments Commission, this time alleging the regulator looks after itself before “or...

Policy & Regulation

Former Brisbane adviser charged with $5.9m fraud

Former financial adviser Ben Jayaweera has appeared in the Brisbane Magistrates Court charged with six counts of fraud involving around $5.9 million....

Policy & Regulation

Government moves to increase ASIC registry fees

The Government has introduced the final part of its Australian Securities and Investments Commission industry funding model to Parliament, which would see registry fees r...

Financial planning

ASIC leverages insurer lapse data

The Australian Securities and Investments Commission has confirmed it has already leveraged lapse data provided by the major life insurers to act against life/risk advise...

Policy & Regulation

ASIC told to justify user-pays fees

The Australian Securities and Investments Commission has been urged to provide detail to justify the fees it will be charging under its user-pays regime....

Financial planning

ASIC questions legal permissibility

The Australian Securities and Investments Commission has pointed the finger at financial services companies seeking to cling to old regulatory regimes, arguing that legal...

Policy & Regulation

ASIC licensing delays test industry

New analysis from legal firm The Fold points to the dynamics of the financial services industry having changed by Australian Securities and Investments Commission licensi...

Financial planning

VOFF demands Royal Commission recall Medcraft from France

Victims of Financial Fraud has called for Greg Medcraft be recalled from overseas to front the Royal Commission, saying that ASIC “pursue[d] family-owned advisory firms t...

Financial planning

FPA acknowledges code-monitoring status is challenging

The Financial Planning Association has acknowledged that obtaining and then maintaining financial planner code-monitoring status represents a substantial and expensive ch...

Financial planning

ASIC will ‘accelerate and expand’ wealth crack-down

Australian Securities and Investments Commission chairman, James Shipton has declared the regulator will be accelerating and expanding the so-called Wealth Management Pro...

Financial planning

ASIC cancels Wealth & Risk Management’s AFSL

The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Wealth & Risk Management, following a court finding that t...

Financial planning

Don’t blame planners for trails

Advisers are the victims not the villains where trailing commissions are concerned with product manufacturers and licensees much more to blame for today’s problems, accor...