ASIC

Policy & Regulation

The Australian Securities and Investments Commission has been urged not to allow the newly-formed Australian Financial Complaints Authority to name and shame relatively l...

Policy & Regulation

ASIC continues crack-down on SMSF auditors

ASIC is continuing to bring SMSF auditors under greater scrutiny with the regulator making two disqualifications this week for a failure to report legislative contraventi...

Financial planning

ANZ agrees to enforceable undertaking

The Australian Securities and Investments Commission has accepted an enforceable undertaking from ANZ, following a finding by the regulator that the bank had failed to pr...

Financial planning

ASIC ties breach reporting to professionalism

The Australian Securities and Investments Commission sees breach reporting as an integral part of industry professionalism....

Policy & Regulation

ASIC places restrictions on OTC derivatives dealers

The regulator has placed significant restrictions upon AFS licence holders that hold client money for trading in over-the-counter (OTC) derivatives....

Financial planning

ASIC warns on ‘general advice’

Replacing the term ‘general advice’ represents a positive step but it may need to be replaced by multiple terms and arrangements, according to the Australian Securities a...

Financial planning

Trio victims renew call for action against ASIC

The organisation representing self-managed superannuation fund victims of the Trio/Astarra collapse have called on the Government to initiate a Serious Financial Crime Ta...

Policy & Regulation

ASIC may have to consider competition

In the midst of a Productivity Commission inquiry into competition in financial services, the Government has proposed measures to make the Australian Securities and Inves...

Policy & Regulation

Gov jumps ahead on second ASIC deputy chair

The Government has announced its candidate for a second deputy chair of the Australian Securities and Investments Commission on the same day it introduced a bill to creat...

Superannuation

Inquiry urged into insurer/super fund payments

The financial services regulators have been urged to closely scrutinise the financial relationships which exist between life insurers and superannuation fund trustees....

Life/Risk

Strong scrutiny urged on insurance APLs

A key Parliamentary Committee has urged strong scrutiny of past and present insurance Approved Product Lists and move to fully open APLs....

Editorial

Regulators must stand Royal Commission scrutiny

As key players in recent outcomes in the financial services industry, the Australian Securities and Investments Commission and the Australian Prudential Regulation Author...

Financial planning

MoneySmart wrong on cost of advice says AFA

The Association of Financial Advisers has told the Productivity Commission that ASIC’s MoneySmart website had skewed consumer expectations by suggesting simple advice can...

Life/Risk

TAL refunds $900,000 to funeral insurance customers

TAL has offered refunds totalling $900,000 to 1,200 funeral insurance customers after reporting to the Australian Securities and Investments Commission that it failed to ...

Financial planning

FPA calls for end to product manufacturer exemption

The Financial Planning Association has told the Productivity Commission that product manufacturers should no longer enjoy the licensing exemption which allows them to giv...