ASIC

Policy & Regulation

Reasons to delay FOFA implementation don't stack up

Despite FOFA reforms now being imminent, there are several regrettable reasons many businesses are using to delay addressing the changes, according to a paper from PwC an...

Financial planning

ASIC bans Brisbane-based financial adviser for five years

The Australian Securities and Investments Commission has banned an authorised representative of WealthSure from providing financial services for five years....

Financial planning

ASIC to tackle conflicts of interest in litigation schemes

ASIC has released a consultation paper outlining new requirements for managing conflicts of interest in relation to proof of debt schemes....

Financial planning

Scaled advice paper '90% there': Sheehan

ASIC's recent scaled advice consultation paper does a fantastic job of clarifying how scaled advice will work in practice but leaves one significant gap, according to MyA...

Financial planning

ASIC cancels Lion Advantage's AFS licence

ASIC has cancelled the Australian financial services licence of Lion Advantage and banned its chief executive David Hickie from providing financial services for two years...

Financial planning

'Crowd funding' operators come under ASIC scrutiny

The Australian Securities and Investments Commission (ASIC) has issued guidance to promoters of 'crowd funding' in order to provide clarity on arrangements that may fall ...

Financial planning

ASIC identifies mis-selling by securities dealers

ASIC targets securities dealers over mis-selling and inadequate advice....

Policy & Regulation

No difference in treatment of scaled and holistic advice

ASIC signals it will apply the same rules to both scaled and holistic advice....

Financial planning

ASIC finds asset consultant fee structures conflicted

The financial services regulator has identified conflicts of interest present in asset consultant business models, which it said needed to be managed properly....

Financial planning

Opposition puts regulators on notice

Opposition puts regulators and industry funds on notice referencing parliamentary accountability and competitive neutrality....

Financial planning

ASIC warns on necessity of EDR scheme membership

ASIC cancels credit licence and warns on need for EDR scheme membership....

Financial planning

Planner bonuses defy FOFA

Financial planning groups are restructuring salary models to make sure their planners are rewarded after the ban on commissions officially comes in on 1 July 2013....

SMSFs protected against fraud, says SPAA

Claims that SMSFs have no recourse against fraud and theft are simply not true, according to SPAA....

Life/Risk

FSC announces new insurance framework

Financial Services Council chief executive John Brogden has announced a new life insurance sales policy revolving around the clawback of commissions if a policy lapses in...