ASIC

Policy & Regulation

ASIC lays charges against former FX trader

Former New South Wales foreign exchange trader, Andrew Donaldson, has been charged with using his position as an employee dishonestly with the intention of gaining an adv...

Policy & Regulation

ASIC canvasses more power on retail hybrids

The Australian Securities and Investments Commission has canvassed having more powers to deal with retail sales of hybrid securities despite not having raised concerns wi...

Financial planning

ASIC bans broker from credit

ASIC has banned a New South Wales mortgage broker, Michael Wilkins, from engaging in credit activities for three years. ...

Financial planning

ASIC points to inherent conflicts in vertical integration

A new Australian Securities and Investments Commission report has repeated the regulator’s contention that vertical integration gives rises to inherent conflicts of inter...

Policy & Regulation

HLB Mann Judd in voluntary exclusion

HLB Mann Judd has voluntarily excluded itself from providing advice as an independent expert, effectively denying itself significant corporate transaction work....

Policy & Regulation

ASIC points to four-year delay on OTC derivatives

The Australian Securities and Investments Commission has told a Parliamentary Committee it will be four years and $19 million later before it is equipped to monitor whole...

Financial planning

ASIC permanently bans South Australian adviser

A South Australian financial adviser has been banned by the Australian Securities and Investments Commission on the basis that he is not of good fame or character....

Financial planning

ASIC issues first crowd-funding licenses

The Government has welcomed ASIC’s decision to issue the first batch of licences enabling intermediaries to help small firms to raise funds through crowdfunding....

Policy & Regulation

Adviser permanently banned by ASIC

An adviser who directed client fees to his own account has been permanently banned by the Australian Securities and Investments Commission....

Policy & Regulation

Govt sets terms of ASIC product intervention powers

The Federal Government has released the exposure draft legislation granting the Australian Securities and Investments Commission product intervention powers and the abil...

Financial planning

Former MyPlanner adviser enters EU

An Australian Securities and Investments Commission surveillance has resulted in a former MyPlanner adviser entering into an EU excluding him from the industry for two ye...

Property

NAB refunds $1.7m for overcharging interest

NAB has refunded $1.7 million to 966 home loan customers after it failed to properly set up mortgage offset accounts....

Financial planning

MG RE fined $650,000

MG responsible entity has been fined $650,000 by the Federal Court for breaching continuous disclosure laws....

Policy & Regulation

ASIC should refund licensees in some circumstances

The Federal Treasury has been told that any industry funding model for ASIC should entail a requirement for the regulator to refund money to licensees....