ASIC

Policy & Regulation

Compliance burden to shift to advisers under FOFA

Updated regulatory guidance published by the Australian Securities and Investments Commission (ASIC) late last year has shifted much of the compliance burden directly ont...

Financial planning

Two-tiered regulatory process needed for REs

Responsible entities (REs) for managed funds should be subject to a two-tiered regulation process that weeds out those that do not have the skill set to assess complex pr...

Financial planning

Did ASIC spell the end of asset-based fees?

The new guidance on best interests duty implies asset-based fees are just as conflicted as commissions, according to Claire Wivell Plater....

Superannuation

ASFA warns of moral hazard in APRA levy

Auditor General told that a moral hazard may be generated by the manner in which the so-called APRA levy is raised....

Editorial

Financial services’ year of living dangerously

Apart from volatile markets and investor sentiment, this year has also seen major policy developments, new investment trends and key career and business moves. Tim Stewar...

Editorial

Financial services' bad apples

A small number of bad apples in the financial services industry once again managed to attract significant attention in 2012....

Financial planning

ASIC suspends Sydney practice's licence

The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services licence of Sydney-based planning practice Cabot Square Financi...

Financial planning

Cormann unconvinced on enshrining 'financial planner/adviser'

The Shadow Assistant Treasurer, Senator Mathias Cormann, confirms he remains to be convinced on the need to legally restrict use of the term 'financial planner/adviser'....

Accounting

Accountant to stand trial on 30 criminal charges

LGH Holdings director and accountant Mark Ronald Letten will stand trial on more than 30 criminal charges in relation to property holdings and development of real propert...

Financial planning

Former financial planner receives two year sentence

Former South Australian financial planner Trevor Wayne Carll has been sentenced to two years in prison with a 13-month non-parole period....

Financial planning

AMP Horizons improves advice after ASIC rebuke

AMP Horizons has made changes to its advice processes after they were found wanting by the Australian Securities and Investments Commission (ASIC)....

Editorial

FPA accused of failing to 'hold the line' on opt-in

The Financial Planning Association’s ‘side deal’ with the Industry Super Network on FOFA drew plenty of flack from many key industry figures....

Editorial

Financial Services Council draws fire over its position on churning

The Financial Services Council's position on life insurance churn proved controversial, attracting criticism from the likes of Synchron's Don Trapnell....

Editorial

Plan B's Andrew Black finds himself being followed by IOOF

Plan B's Andrew Black could be forgiven for thinking he is being followed by IOOF in the wake of its acquisition of the dealer group....

Financial planning

Significant Investor Visa attracts foreign investor interest

A billion dollars has already been committed to funds that fall under the Government's recently introduced Significant Investor Visa (SIV) scheme, according to estimates ...