australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Policy & Regulation

Receiver appointed to former OTC derivates issuer

The Australian Securities and Investments Commission will appoint a receiver to former OTC derivatives issuer Berndale Capital Securities, following a successful applicat...

Superannuation

Super funds factor in M&As

A new analysis of merger and acquisition activity has pointed to higher activity levels on the part of superannuation funds....

Policy & Regulation

Perth accountant slapped with six-year ban

ASIC has banned a Perth-based accountant from providing any financial services for six years, after finding that he both contravened and was likely to again contravene a ...

Life/Risk

Insurance advisers may be safe from anti-hawking laws

Changes to anti-hawking regulations likely won’t impact insurance advisers as their discussions with clients on risk products generally fall within regulatory definitions...

Financial planning

ASIC slaps QLD adviser with five-year ban

The Australian Securities and Investments Commission has banned Queensland-based adviser, Gregory Forster, from providing financial services for five years. ...

Financial planning

Citigroup to refund $3 million for general v personal advice blurring

A major bank will refund over $3 million to more than 100 retail customers, after an investigation into whether customers believed they were receiving personal rather tha...

Superannuation

ASIC striking “significant blow” to Choice members

ASIC is putting the public’s retirement savings at risk and “kicking the can down the road” in deferring disclosure requirements on Choice products, a major industry body...

Financial planning

ASIC wraps up CBA compensation compliance checks

ASIC has released the final report on the Commonwealth Bank’s compliance with additional licence conditions that were imposed regarding advice compensation, written by Ko...

Policy & Regulation

Advisers avoid ASIC enforcement spotlight

Financial advisers were notable by their absence from the Australian Securities and Investments Commission’s latest Enforcement Update....

Policy & Regulation

Exclude advice obligations from insurance claims – ASFA

Insurance claims handling should not be encumbered by the same obligations as financial advice because it would risk making it unaffordable to super fund members, accordi...

Policy & Regulation

UK and Australia enter post-Brexit agreement

The UK Financial Conduct Authority and Australian Securities and Investments Commission have agreed to strengthen cooperation post-Brexit....

Policy & Regulation

ASIC gets product intervention power

In a last legislative act by the current Parliament, the Australian Securities and Investments Commission has been handed its product intervention powers....

Policy & Regulation

FPA urges ASIC to act on fee comparability

The Financial Planning Association has urged the Australian Securities and Investments Commission to act to ensure financial product manufacturers more consistently revea...

Superannuation

ASIC proposals could worsen transparency problem

Changes to superannuation fee disclosure proposed by ASIC to improve transparency won’t solve the problem and could just increase confusion for consumers....