ASIC

Financial planning

Industry challenged by falling advisers but growing demand

There will be a problem in the next five years as falling adviser numbers coincide with more households seeking advice, according to Easton Investments. ...

Policy & Regulation

Deferred sales model insurance guide released

The corporate regulator’s RG 275 will cover all requirements for the implementation the new deferred sales model for add-on insurance, including any exemptions....

Policy & Regulation

Advisers need to avoid regulator 'radar'

Financial advisers need to make sure all their new regulatory requirements are in place by October to avoid any scrutiny from the regulators, even if they aren’t receivin...

Financial planning

Licence cancelled for Qld firm

Queensland-based financial services firm Fentborough has seen its Australian financial services licence cancelled for failing to lodge documentation. ...

Financial planning

BT and Asgard to pay penalties for fee-for-no-service

BT Funds Management and Asgard Capital will pay $3 million after the two entities made false and deceptive conduct to over 400 customers. ...

Financial planning

What is the ASIC levy funding?

There were six main areas the corporate watchdog focused on which led to a $16.5 million increase in costs of regulating the financial advice sector....

Financial planning

ASIC levy increase will cause more practices to close: FPA

The association says the current levy formula is not sustainable and needs to be reviewed immediately....

Superannuation

Super funds need to identify social media posters

If there is a post on a superannuation fund’s social media platform from a member about withdrawing communication consent, then the fund must take steps to ascertain the ...

Superannuation

Super fund offers made to employers as default fund allowed

The prohibition of hawking superannuation funds only applies to offers made to retail clients, according to the corporate regulator....

SMSF

Craig Gore unsuccessful in criminal appeal

Gore was sentenced for self-managed super fund fraud last year and will be tried next month for three further charges....

Financial planning

ASIC cancels AFS licence for GC-based group

The corporate regulator has cancelled the Australian financial services license for Gold Coast-based Trade Wind Financial Services and banned its former adviser, Adam Bev...

Financial planning

Anti-hawking regime consultation opens

The corporate regulator is seeking consultation on the anti-hawking of financial products regime that commences in October. ...

Financial planning

APRA seeks to clarify trustee SOA oversight concerns

Trustees should come up with an approach that allows them to have necessary comfort that the quality of advice that is provided to members is as it should be, according t...

Financial planning

ASIC releases adviser reference checking protocol

The corporate regulator has released its protocol around how licensees should be reference checking prospective financial advisers they wish to employ. ...

Policy & Regulation

Unlicensed trader Dr Roger Munro pleads guilty to fraud charges

Unlicensed investment trader Dr Roger Munro has pleaded guilty to three counts of fraud for misusing client funds by pretending to invest in the TradeStation Futures Trad...