australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Policy & Regulation

The Australian Securities and Investments Commission said it will commence a review of school banking programs in primary schools....

Financial planning

FPA suggests risk rating financial products

The Financial Planning Association has suggested risk rating financial products to better target consumer protections....

Policy & Regulation

Poor breach reporting a lead indicator for ASIC embedding

The Australian Securities and Investments Commission has signalled that financial institutions with a poor breach reporting record are likely to find themselves dealing w...

Financial planning

FPA and AFA to benefit as planner code monitors

The Financial Planning Association and the Association of Financial Advisers will gain a membership advantage if they are appointed as code monitoring bodies by the Austr...

Policy & Regulation

ASIC enforces five-year ban on Perth adviser

The Australian Securities and Investments Commission (ASIC) has banned Perth-based adviser, Philip Leake, from providing financial services for five years. ...

Policy & Regulation

Federal Court orders over $7 million in fines

The Federal Court has slapped three companies with fines totalling $7,150,000, finding that they engaged in multiple contraventions of financial services and consumer pro...

Policy & Regulation

Mortgage brokers face best interests duty

The mortgage broking industry is facing the prospect of a consumer best interest duty as a result of Productivity Commission scrutiny....

Policy & Regulation

Will ASIC get competition powers?

The Productivity Commission is urging that the regulators be given more power to drive competition in the financial services industry....

Policy & Regulation

ASIC lays charges against former FX trader

Former New South Wales foreign exchange trader, Andrew Donaldson, has been charged with using his position as an employee dishonestly with the intention of gaining an adv...

Financial planning

ClearView’s direct life sales business takes regulatory hit

ClearView Life has taken a hit to its direct life insurance sales business and will refund $1.5 million to 16,000 consumers....

Financial planning

VOFF accuses ASIC and Shorten of collaboration post-Trio Fraud

Victims of Financial Fraud has accused Bill Shorten and the Australian Securities and Investments Commission in the aftermath of the Trio Fraud.Victims of Financial Fraud...

Policy & Regulation

Law firm calls for control test to be restricted

The Fold Legal has proposed that the definition of control under the Corporations Act be restricted, despite an Australian Securities and Investments Commission taskforce...

Funds management

ASIC: 2017 AGM season less tumultuous

The 2017 annual general meeting season was significantly less tumultuous than the 2016 season, according to an Australian Securities and Investments Commission report....

Policy & Regulation

We’ve never called for a ban on commissions says ASIC

The Australian Securities and Investments Commission says it has never called for a ban on commissions paid to mortgage brokers so has never analysed the impact such a ba...

Financial planning

10% of advice of significant concern to ASIC

Ten per cent of advice files from the major banks and AMP sampled by the Australian Securities and Investments Commission proved to be of significant concern....