ASIC

Financial planning

Adviser survey urges ASIC to be facilitative, lenient

The message from advisers to clients is ‘don’t crystallise your losses’, while the message from a Money Management survey of advisers to the Australian Securities and Inv...

Financial planning

Ex-AMP planner sentenced

Trevor William Martin has been sentenced to three years of imprisonment to be served through an intensive corrections order for dishonestly obtaining $208,000 of client f...

Financial planning

AFA to make specific recommendations to ASIC

Extraordinary circumstances call for a changed regulatory approach says AFA....

Financial planning

Dealer groups uncertain on amount of Professional Year participants

There are only 68 eligible New Entrant Registrations from licensees, but the industry has concerns over how many adviser graduates are doing their Professional Year and i...

Policy & Regulation

ASIC bans WA adviser for four years

Anthony Hilsley failed to provide advice in the best interest of his clients, an investigation by the Australian Securities and Investments Commission found....

Financial planning

ASIC recalibrates regulatory priorities

The Australian Securities and Investment Commission has announced it will recalibrate its regulatory priorities to focus on COVID-19 challenges, suspending all not time-c...

Features

InFocus: If ever there was a need for good advice then it’s now

Mike Taylor writes that the services of experienced financial advisers have never been in greater demand as clients attempt to come to terms with the market volatility be...

Policy & Regulation

Societe Generale charged by ASIC

They have been charged with breaching client money obligations from between December, 2014, and September, 2018....

Funds management

AMP Life and AMP Capital fined

AMP Life and AMP Capital have been fined $275,500 and $250,500 respectively, in relation to trade reporting rules....

Superannuation

ASIC hits CFS on MySuper charges

The corporate watchdog allege Colonial First State Investments Limited sent misleading or deceptive communications to members of the FirstChoice Fund....

Policy & Regulation

CBA facing $5m penalty as ASIC initiates RC action

The Commonwealth Bank is facing more court action – this time the possibility of a $5 million penalty resulting from a Royal Commission referral relating to its so-called...

Policy & Regulation

ASIC orders 25% reduction in market trades

Large market participants have been ordered by the Australian Securities and Investments Commission to reduce market trades by 25% as the regulator moves to bring order....

Financial planning

Unrestrained regulation and costs are driving advisers out of business

The Financial Planning Association wants the Government to commission the Australian Securities and Investments Commission to monitor the escalating costs of practicing a...

Financial planning

ASIC postpones annual forum and dinner due to coronavirus

The Australian Securities and Investments Commission Annual Forum and Annual Dinner will be rescheduled for a later date....

Financial planning

High Court sets precedent on company officers’ accountability

The High Court has unanimously held the Michael Christodoulou King was an officer of MFS Ltd (Octaviar) subsidiary MFS Investment Management and is therefore responsible ...