ASIC

Policy & Regulation

Illegal Chinese activity lands derivatives provider in court

The corporate regulator has commenced proceedings against Sydney-based derivatives provider Union Standard International Group over illegal Chinese activities....

Financial planning

Warning that licensees face breach-reporting overload

The Government is being urged to provide regulatory clarity around the new breach reporting legislation which it is feared will radically increase what are deemed to be r...

Financial planning

FASEA not the final battle

Although the removal of the Financial Adviser Standards and Ethics Authority is a huge victory for many in the industry who spent the last few years fighting for reform, ...

Policy & Regulation

ASIC reveals a pretty modest and bland gifts and benefits register

Anyone looking for over the top largesse being heaped on the Australian Securities and Investments Commission will be sadly disappointed. ...

Financial planning

FASEA gone but the exam and degree regime continues

The Financial Adviser Standards and Ethics Authority may be gone but its exam timetable will continue and so will the requirement for financial advisers to become degree ...

Financial planning

How the industry united to rid itself of FASEA

Mike Taylor writes that few people genuinely argued with the objectives set out for the Financial Adviser Standards and Ethics Authority but they did argue with the autho...

Financial planning

Intra-fund advice is not special says ASIC

While currently finalising a review based on samples of intra-fund advice, the Australian Securities and Investments Commission has used an article to explain that intra-...

Policy & Regulation

ASIC won't appeal key Harold Mitchell case

A belief that it cannot win has persuaded the Australian Securities and Investments Commission against appealing the decision of the Federal Court in relation to former T...

Policy & Regulation

Lack of regulations delivers super funds relief on portfolio holdings

Superannuation funds have been delivered another 12 months’ breathing space on reporting portfolio holdings simply because the Government has not made the necessary regul...

Funds management

Unregistered managed investment scheme wound up

The Australian Securities and Investments Commission has announced that the Federal Court has ordered the winding up of un unregistered managed investment scheme operated...

Policy & Regulation

ASIC pushes “beneficial assumptions” on remediation

The client should emerge the ultimate beneficiary of the remediation process, even if all the facts aren’t known, according to the Australian Securities and Investments C...

Policy & Regulation

Secure Investments and Acquila director arrested

Mudasir Mohammed Naseeruddin (also known as Naseer or Mudasir) has been arrested and charged with dishonest conduct....

Policy & Regulation

ASIC consults on consumer remediation

The corporate regulator’s consultation aims to help firms identify issues that can lead to remediations earlier and to have arrangements and systems in place to return mo...

Financial planning

Allegra’s AFSL refusal upheld by AAT

The Administrative Appeals Tribunal was not satisfied Allegra Financial Services would provide financial services that was efficient, honest, and fair. ...

Life/Risk

As ASIC begins its LIF review an adviser report tells its own story

As the Australian Securities and Investments Commission kicks off its review of the Life Insurance Framework a new report has defended the value of life/risk commissions....