ASIC

Financial planning

Another question-mark over FASEA exam extension

The prospect of yet another Parliamentary argument around legislative amendments has again thrown passage of the Government’s extension of the Financial Adviser Standards...

Financial planning

Sam Henderson faces dishonest conduct charges

Sam Henderson’s appearance before the Royal Commission has had its corollary in charges being laid by the Australian Securities and Investments Commission relating to all...

Financial planning

RG146 CPD no longer required

Financial advisers will no longer have to record continuing professional development for RG146 as it has effectively been replaced by the Financial Adviser Standards and ...

Financial planning

Is financial advice being legislated and regulated towards market failure?

An article written by a Sydney lawyer has warned that financial advice is in danger of market failure because it has been the subject of significant legislative over-reac...

Financial planning

CBA to pay $5m

The Commonwealth Bank of Australia has been ordered to pay $5 million for failures in their AgriAdvantage Plus Package. ...

Policy & Regulation

ASIC cancels OTC issuer's AFS licence

The corporate regulator has cancelled the Australian financial services licence of retail over-the-counter derivative issuer Forex Capital Trading after clients incurred ...

Financial planning

ASIC hits out at 'disappointing' efforts by ME Bank

The Australian Securities and Investments Commission has hit out at ME Bank over the “disappointing” way it handled its problems over client mortgages and said it has had...

Policy & Regulation

Two firms see AFS licences cancelled

Two financial services firms have had their licences cancelled by the corporate regulator for failing to submit audited accounts and meet licensee obligations. ...

Financial planning

Bendigo and Adelaide Bank small business contract terms declared unfair

The terms were declared unfair by the Federal Court of Australia as they caused a significant imbalance to the parties’ rights and obligations under the contract and woul...

Financial planning

Daly and Linchpin directors banned for 5 years

Peter Daly and two other Linchpin directors have gone on the Australian Securities and Investments Commission banned list after failing in the Administrative Appeals Trib...

Policy & Regulation

APRA put under pressure to consider early access scheme

The Australian Prudential Regulatory Authority was given less than one day to consider the early access to super scheme. ...

Policy & Regulation

Regulatory sandbox available from September

The Federal Government is finalising regulations for its enhanced regulatory sandbox for fintech businesses, which will commence from the start of September. ...

Funds management

ASIC reiterates retail investors’ mistakes in market timing

Retail investors choosing to sell tended to find the share price rose the following day, according to the Australian Securities and Investments Commission, as it highligh...

Financial planning

Interim receivers appointed over assets of unregistered MIS

Interim receivers have been appointed to Chris Marco, AMS Holdings, and AMS as a trustee for the AMS Holdings Trust after a lack of material returns generated for investo...

Financial planning

Ex-Spectrum adviser banned for five years

The corporate regulator has banned Sean Philip Lewis for his limited recourse borrowing arrangement advice and insurance advice that would generate large commissions for ...