australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Life/Risk

FSC looks to extend code to all “distributors”

The Financial Services Council wants to extend its insurance code of conduct to “all life insurance distributors”....

Financial planning

Westpac slammed with $3.3m fine for BBSW manipulation

The Federal Court has ordered Westpac to pay a $3.3 million penalty for its involvement in setting the BBSW in 2010. ...

Policy & Regulation

Academic questions FASEA filings

Deakin Business School associate professor, Adrian Raftery has raised questions about whether the Financial Adviser Standards and Ethics Authority has met its financial f...

Policy & Regulation

ATO refines data-matching of share trades

Advisers and their clients have been put on notice to maintain a tighter focus on share trades with the Australian Taxation Office now capable of matching share trades ag...

Financial planning

SMSF auditors suspended by ASIC

The Australian Securities and Investments Commission has suspended and deregistered 101 self-managed superannuation fund auditors due to audit quality....

Policy & Regulation

Lawyers argue against post-sale product intervention

The Law Council of Australia has urged the Government that it needs to amend proposed new financial product design and distribution laws to exclude intervention in produc...

Life/Risk

FSC proposal described as Trojan horse

Plaintiff law firm, Maurice Blackburn has labelled the Financial Services Council’s failed bid to have life/risk insurers allowed involvement in worker rehabilitation as ...

Policy & Regulation

ASIC warning to AFCA laggards

The Australian Securities and Investments Commission has issued a warning as credit representatives appear to be lagging on their obligations to join the Australian Finan...

Financial planning

ASIC cancels Austplan’s licence

The Australian Securities and Investments Commission has cancelled the AFS licence of Austplan, effective from 25 November....

Life/Risk

FSC and insurers rebuffed on worker rehabilitation proposal

The Joint Parliamentary Committee on Corporations and Financial Services has rebuffed an FSC proposal to allow life/risk insurers to participate in getting injured worker...

Policy & Regulation

We won’t be captured, says ASIC chairman

New Australian Securities and Investments Commission chairman, James Shipton has vowed to eliminate the circumstances where the regulator can be perceived to have been ca...

Policy & Regulation

Life insurer claims data provision made mandatory

Life insurance companies are now under a legal obligation to provide consistent data on claims and disputes to the Australian Prudential Regulation Authority and the Aust...

Financial planning

VOFF letter added to Coalition’s woes

Victims of Financial Fraud has written to Treasurer Josh Frydenberg to remind him how vehemently the party objected to holding a Banking Royal Commission. ...

Policy & Regulation

ASIC signals litigious intent

The Australian Securities and Investments Commission has signalled the likelihood that it will become significantly more litigious in the wake of the Royal Commission....

Policy & Regulation

ASIC wants product sales training powers

The Australian Securities and Investments Commission is arguing that giving it product sales training intervention powers may reduce the need for it to take extreme actio...