australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

AFSL applicants need to act fast on PI cover

With the Royal Commission resulting in a tougher insurance market, organisations looking to get professional indemnity cover should act quickly to ensure they’re not left...

Financial planning

How ANZ OnePath ramped up grandfathering language

Two letters sent to superannuation fund members by ANZ OnePath have revealed a significant strengthening of language about how members should go about ending the payment ...

Financial planning

Have product providers jumped the gun on grandfathering?

Financial advisers have expressed concern and anger at product manufacturers who have written to advice clients informing them how to switch off grandfathered commissions...

Financial planning

AMP admits planner wrongdoing

AMP Limited has handed the Australian Securities and Investments Commission a victory by admitting wrongdoing and failing to ensure AMP financial planners acted in the be...

Policy & Regulation

ASIC chair issues industry ‘fairness challenge’

Australian Securities and Investments Commission (ASIC) chair James Shipton has issued a ‘fairness challenge’ to the financial services industry....

Policy & Regulation

ASIC clarifies litigation approach

The Australian Securities and Investments Commission has clarified the circumstances in which it is likely to litigate financial services breaches....

Financial planning

Sydney former adviser banned for six years

The Australian Securities and Investments Commission has banned a Sydney man, formerly an adviser at Kaz Capital, from providing financial services for six years....

Policy & Regulation

ASIC suggests formal IDR complaint recognition of Twitter comments

Financial firms which receive adverse comments on social media such as Twitter will be required to recognise them as legitimate complaints under the Australian Securities...

Financial planning

ASIC cracks down on dual ARs

The Australian Securities and Investments Commission has revoked the authorisations of 58 authorised representatives who it found had been inappropriately dual-authorised...

Policy & Regulation

ASIC spotlights industry fund vertical integration

The Australian Securities and Investments Commission has broken new ground by imposing a penalty on HostPlus based on the commercial links and consequent service agreemen...

Policy & Regulation

Regulators band together to urge LIBOR transition

The Australian Securities and Investments Commission has written to the chief executives of several major financial institutions, encouraging them to transition away from...

Life/Risk

ASIC may want codes of practice strengthened before granting approval

ASIC will likely require some insurance code of practice provisions are strengthened before it approves the code, and these requirements may extend to other industry bodi...

Financial planning

Former financial adviser pleads guilty

Former financial adviser, Trevor William Martin, has pleaded guilty to dishonestly obtaining client funds....

Financial planning

Sydney wealth firm sees licence suspended by ASIC

The Australian Securities and Investments Commission (ASIC) has suspended the licence of Sydney-based Australasia Wealth Services Management (ASWM) for failing to meet re...

Financial planning

ASIC bans CEOs for six years

The two joint chief executive officers of a managed investment scheme operator, Australian Mutual Holdings Limited, have been banned for providing financial services for ...