ASIC

Financial planning

Perth-based financial adviser, Lawrence O’Neill, has been banned from providing financial services for four years as he failed to comply with financial services laws....

Financial planning

ASIC denies knowledge of intra-fund extension

It will be up to the Government to determine whether superannuation funds will be able to use member cross-subsidies to fund intra-fund advice, according to the Australia...

Policy & Regulation

We treat retail and industry funds equally says ASIC

The chair of the Australian Securities and Investments Commission, James Shipton has declared the regulator treats industry and retail funds equally....

Policy & Regulation

ASIC details its interactions with Choice

Parliamentary committee questioning has seen the Australian Securities and Investments Commission detailing the extent of its interactions with consumer group, Choice....

Financial planning

ASIC answer confirms Hayne got it wrong on intra-fund advice

Questioning by a Liberal Senator has seen the Australian Securities and Investments Commission confirm that Royal Commissioner, Kenneth Hayne, got it wrong on intra-fund ...

Life/Risk

CommInsure pleads guilty to 87 hawking offences

CommInsure will refund $12 million for unfair life insurance telephone sales to around 30,000 customers....

Policy & Regulation

ASIC reinforces how far EUs are out of favour

Enforceable undertakings too often entail zero penalties and the Australian Securities and Investments Commission would prefer to litigate....

Policy & Regulation

Union funds benefit from ASIC Class Order

Questions have been raised about the appropriateness of an Australian Securities and Investments Commission class order which absolves worker entitlement funds run by tra...

Financial planning

FASEA board accused of shunning industry

Questions are being asked about why the board of the Financial Adviser Standards and Ethics Authority has avoided direct engagement with key industry groups for more than...

Policy & Regulation

APRA, ASIC to share data

In a bid to lift regulatory burden on super funds the two regulators are looking to share data for areas of common interest....

Policy & Regulation

Licensees granted three years grace on planner compliance

The Australian Securities and Investments Commission has granted planning licensees a three-year exemption from the requirements to have planners sign up to a code-monito...

Superannuation

ASIC reinforces folly of low-balance SMSFs

The Australian Securities and Investments Commission has provided a Parliamentary Committee with data confirming that self-managed superannuation funds with balances belo...

Policy & Regulation

QLD adviser banned for three years

GPS Wealth adviser, Mark Alexander Rothnie has been banned by ASIC for failing to act in the best interests of his clients and failing to provide appropriate advice....

Policy & Regulation

Former Sydney adviser receives four-year ban

ASIC has banned former Apogee and ANZ financial adviser Adrian Khaw who advised clients to use an SMSF and use LRBAs to purchase a property....

Policy & Regulation

Industry funds ASIC infringements just $25,000

Only two industry superannuation funds have been served with Australian Securities and Investments Commission infringements since the start of 2013 and the combined amoun...