australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Policy & Regulation

The Australian Securities and Investments Commission has reinforced that its responsible lending action against Westpac was a test case....

Financial planning

ASIC updates guidance on climate change

The Australian Securities and Investments Commission has updated its guidance on climate change related disclosure....

Policy & Regulation

Federal court upholds banning of Sydney lawyer and account

An appeal by Sydney lawyer and accountant Yingjie Wang against his permanent banning from providing financial services has been dismissed by the Federal Court of Australi...

Policy & Regulation

NAB again in adverse media spotlight

National Australia Bank has again found itself the subject of adverse media following the publication of leaked audit documents relating to its risk governance standards....

Policy & Regulation

Remediation provisioning reaches $9 billion says ASIC

The Australian Securities and Investments Commission has estimated that remediation provisioning by Australia’s major financial institutions has so far reached $9 billion...

Policy & Regulation

ASIC warns super funds on employer inducements

The Australian Securities and Investments Commission has fired a shot over the bows of superannuation funds tempted to provide inducements to employers to nominate them a...

Financial planning

Heavy lifting on grandfathering falls to product issuers

The Government has imposed the administrative burden of redistributing grandfathered remuneration on product issuers rather than onto financial advisers or licensees....

Life/Risk

Life insurers face exposure to third party beneficiaries

Life/risk advisers face taking account of a new factor – the reality that Government changes to bring insurance under the Unfair Contracts Terms regime will expose life i...

Policy & Regulation

ASIC to sue ANZ over unlawful transaction charges

The Australian Securities and Investments Commission has commenced proceedings against ANZ over account and periodic payment fees after it was alleged to have unlawfully ...

Financial planning

Sam Henderson banned for three years

High profile former adviser, Sam Henderson has been banned from providing financial services for three years....

Policy & Regulation

Former Adelaide financial adviser sentenced

Former Adelaide financial adviser James Gibbs has been sentenced for 10 years imprisonment to theft and other dishonesty offences, totalling approximately $4.88 million....

Policy & Regulation

ASIC says it can intervene irrespective of legal breaches

The Australian Securities and Investments Commission is arguing it can exercise its product intervention powers even if there has been no breach of the law....

Financial planning

First planners, now accountants warn of exodus

A major accountancy body has warned the Australian Securities and Investments Commission that rising levies may promote an exodus by accountants working under limited pla...

Policy & Regulation

Hacker hit with three-year jail stint for insider trading

Hacking a publisher’s Wi-Fi network with the intention of insider trading, engaging in insider trading, and deleting data from devices being examined by ASIC have seen an...

Financial planning

Compliance issues continue to erode BOLR pay-outs

The private contractual nature of Buyer of Last Resort arrangements has served to leave the major planning organisations on the sidelines as advisers see their pay-outs e...