ASIC

Funds management

Melbourne director receives four-year ban from ASIC

A former director of fund manager Sovereign MF has been banned from providing financial services for four years....

Financial planning

ASIC makes changes to AFSL application process

Updated regulatory guidance for applying for an Australian financial services licence (AFSL) removes the requirement to submit paper versions of documents lodged electron...

Editorial

Federal Budget changes compound superannuation confusion

The dust has well and truly settled on the Federal Budget but, as Liz Westover writes, the Government needs to accept that its actions have served to confuse Australians ...

Financial planning

ASIC warns about fake financial advice group

The Australian Securities and Investments Commission has urged investors to avoid Connaught Investment Group....

Financial planning

Ponzi scheme operators plead guilty to fraud charges

Two men have pleaded guilty in the Downing Centre Local Court in Sydney to operating a Ponzi scheme called the Integrity Plus Fund....

Financial planning

ASIC recruits from within financial planning industry

ASIC has confirmed it has increased its efforts to better understand the inner workings of the financial planning industry by recruiting from within the sector....

Financial planning

Former Lonsec managing director charged with insider trading

Norman John Graham, a former managing director of stockbroking firm Lonsec, has appeared in the Magistrates' Court of Victoria in Melbourne, charged with 14 counts of ins...

Editorial

APRA rolls over on superannuation fund delays

In the wake of concerns about APRA's handling of the collapse of Trio Capital it has emerged that the regulator has little or no idea how well superannuation funds perfor...

Financial planning

ASIC continues to target financial planners over Trio Capital collapse

ASIC is taking ongoing regulatory action against a number of financial planners who 'breached the law' in relation to Trio Capital....

Financial planning

ASIC offers relief for intrafund asset transfers

ASIC has offered relief to trustee companies engaging in intrafund transfers, releasing approval criteria and unifying prior State and Territory requirements....

Financial planning

Sixth Commonwealth Financial Planning adviser banned

In the latest outcome of its investigation, ASIC has accepted an enforceable undertaking from former Commonwealth Financial Planning employee Joe Chan. ...

Policy & Regulation

ASIC confirms involvement in 11th-hour FOFA deal

ASIC confirms it was consulted in negotiations involving the Financial Planning Association around last minute-changes to FOFA....

Superannuation

Trio Capital requires an industry-wide fix

The time has come for a total rethink about how investors are looked after when there is a 'Trio Capital', according to SPAA's Peter Burgess....

Superannuation

SMSF trustees might have to acknowledge risks

ASIC signals a push to have SMSF trustees acknowledge the existence of a higher level of risk....

Superannuation

ASIC finds CFD providers failing on client money procedures

ASIC has revealed that there is a large percentage of over-the-counter derivative providers who are not following appropriate client money procedures, according to Capita...