australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Policy & Regulation

AMP to face another Royal Commission grilling

AMP Limited is listed to face another round of Royal Commission questioning as the process enters its final week....

Policy & Regulation

ASIC questioned over governance practices

The Royal Commission has asked ASIC why recent new senior level roles were all filled by internal candidates from a limited pool, amid questions about the regulators’ gov...

Policy & Regulation

Does ASIC intend to regulate itself?

ASIC chair, James Shipton, has come under fire from the Royal Commission, which seemed dissatisfied with how the regulator intended to prove its performance improves goin...

Policy & Regulation

Advisers must remember to register before FASEA takes effect

Authorised advisers need to make sure they’re on ASIC’s Financial Advisers Register by the end of the year, before new professional standards take effect, or risk being t...

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Financial planning

Industry solution proposed for fee for no service

At the same time as confirming Westpac has lost around half its authorised representatives since 2015 the bank’s chief executive has also confirmed a proposed industry so...

Financial planning

CBA staff misunderstood client relationship

Commonwealth Bank chief executive, Matt Comyn has cited fee for no service as being one of the bank’s key shortcomings and claimed key executive personnel had failed to u...

Policy & Regulation

UBS Securities hit with $120,000 penalty

UBS Securities has been slapped with a $120,000 penalty by the regulator’s Markets Disciplinary Panel after it had reasonable grounds to believe that UBS contravened mark...

Funds management

ASIC clears DomaCom’s equity release

DomaCom has announced that its senior equity release has cleared final regulatory hurdle after six years....

Policy & Regulation

ASIC slaps 8-year ban on former director of derivatives issuer

The securities regulator has banned Yossef Ashkenazi of Victoria from providing financial services for a period of eight years....

Policy & Regulation

RC probes causes of misconduct

The Royal Commission will today begin its final round of hearings looking at what caused the misconduct and what can be done to fix those causes....

Policy & Regulation

Is adverse publicity motivating whistle-blowers?

The Australian Securities and Investments Commission has pointed to the recent adverse publicity around the financial services industry having driven up the level of whis...

Policy & Regulation

Former financial services rep banned for stealing

A former Perth financial services representative has been banned from providing financial services following a Court conviction for four counts of stealing....

Financial planning

Planners should be answerable on products, says ISA

Industry Super Australia has objected to exempting personal financial advice from product design and distribution obligations, arguing planners need to be held responsibl...

Policy & Regulation

ASIC will not ignore ‘lawful’ behaviour

The Australian Securities and Investments Commission has declared that just because behaviour is lawful does not make it an excuse where consumer detriment is concerned....