ASIC

Funds management

‘Greenhushing’ approach won’t help funds long-term: Zenith

While some fund managers overstate their ESG credentials and others remove their sustainable outcomes entirely, it is transparent communication that will be critical to a...

Financial planning

AAT grants temporary stay to director banned by ASIC

The appeals tribunal has granted a temporary stay order to a Queensland director who was banned by ASIC in March for failing to meet fit and proper person requirements. ...

Financial planning

Doctors or advisers – who face stricter regulation?

According to the former AFA submission to the Senate Economics Committee’s investigation into ASIC, there are “significant differences” in the treatment of misconduct in...

Policy & Regulation

ASIC welcomes new commissioners

With commissioner Danielle Press to depart ASIC next month, the Treasurer has appointed three new commissioners to the corporate regulator....

Financial planning

FAAA member numbers hit the ASIC FAR

Falling just short of previous forecasts, recent figures indicate FAAA members now comprise almost 50 per cent of the ASIC FAR, according to Wealth Data. ...

Financial planning

FAAA pushes for greater ASIC levy transparency

In a statement to the Senate Economics References Committee, the Financial Advice Association Australia has made recommendations to the corporate regulator to better achi...

Financial planning

Former ASIC chair let down by regulator over 'soul destroying' smear campaign

James Shipton has called out his former employer for failing to support or protect him during a six-month abusive ad campaign in 2020 by a defendant charged with offenses...

Financial planning

Former Sydney adviser has assets frozen amid ASIC investigation

ASIC has commenced “urgent proceedings” in the Federal Court of a former Sydney financial adviser amid an investigation regarding fees charged to client super funds. ...

Financial planning

Federal judge calls for industry to scrap the ‘grandfathering’ term

In a curious aside to ASIC’s appeal of the CBA/Colonial First State judgment, the judge has taken issue with the financial services industry’s use of the term ‘grandfathe...

People & Products

ASIC makes executive team appointments

The corporate regulator has announced several appointments to its executive leadership team, as it reaches the final stages of executing its new organisational structure....

Policy & Regulation

US and UK-style restrictions unnecessary for MISs

Proposals to place US or UK-style restrictions on products in the Australian managed investment schemes would be “radical” when ASIC already has significant product inter...

Superannuation

ASIC loses court bid to CommBank, Colonial First State

The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefi...

Financial planning

Sydney adviser receives permanent ban and AFSL cancellation

ASIC has permanently banned a Sydney financial adviser and cancelled the license of his business after he misappropriated investor funds....

Financial planning

FSCP hands down first ‘written reprimand’ around advice scoping

Tackling issues around inappropriate scoping of advice, the Financial Services and Credit Panel has announced its first ‘written reprimand’. ...

Superannuation

Which super fund has fallen foul of ASIC’s greenwashing crackdown?

The corporate regulator has commenced its third civil penalty proceedings for alleged greenwashing with the superannuation fund holding investments in Russia when it had ...