australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

ASIC canvasses going public on insto APLs

The Australian Securities and Investments Commission has signalled there are implications for all planning licensees from its work on the major banks and AMP....

Policy & Regulation

Funds hiding true fee costs in PDSs

While funds are complying with the Australian Securities and Investments Commission’s requirements for fee disclosure in product disclosure statements, they are providing...

Policy & Regulation

ASIC report shows quality concerns still valid

The Australian Securities and Investments Commission’s recent report into vertically integrated institutions and conflicts of interests shows that consumer and regulator ...

Financial planning

CBA defends its advice compensation processes

The Commonwealth Bank has asserted it is ahead of schedule in reviewing the advice given by five former advisers and in assessing what compensation may be payable....

Financial planning

CBA faces further advice compensation

The Commonwealth Bank has had additional license conditions imposed on Commonwealth Financial Planning and Financial Wisdom and is facing having to compensate the clients...

Policy & Regulation

ASIC warns planners on death nomination practices

The Australian Securities and Investments Commission has issued a final warning to the financial services industry to stop cutting corners in breach of the law regarding ...

Financial planning

Financial planner banned for five years

Kimberley Holgate has been banned from providing financial services for five years by the Australian Securities and Investments Commission, following a finding by the reg...

Policy & Regulation

Suncorp and Allianz in multi-million dollar refunds

Suncorp and Allianz have been obliged to make refunds to customers worth millions of dollars after being found to have offered so-called ‘add-on’ insurance of little or n...

Policy & Regulation

ASIC points to four-year delay on OTC derivatives

The Australian Securities and Investments Commission has told a Parliamentary Committee it will be four years and $19 million later before it is equipped to monitor whole...

Financial planning

ASIC accepts EU from Breakaway Finance Group

The Australian Securities and Investments Commission has accepted an enforceable undertaking from Breakaway Finance Group and Mark Roberts, its sole director following su...

Financial planning

Financial Circle slapped with interim injunctions

Financial Circle has been restrained from providing financial advice or carrying on a financial services business, following an interim injunction from the Federal Court ...

Financial planning

ASIC permanently bans South Australian adviser

A South Australian financial adviser has been banned by the Australian Securities and Investments Commission on the basis that he is not of good fame or character....

Policy & Regulation

ASIC bans former Provident Capital director

ASIC has banned the former director of Provident Capital from the industry for five years for breaching his duties and failing to comply with the law. ...

Financial planning

Former Patterson Securities adviser permanently banned

ASIC has banned a former state manager for Paterson Securities after finding he engaged in dishonest conduct and in misleading or deceptive conduct over a two year period...

Financial planning

Charter FP practice hit with fine for misleading representation.

A financial planning practice within Charter Financial Planning has paid $10,200 penalty after ASIC found it made misleading representations in an article on its website....