australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Financial planning

Constant flip flopping of FOFA laws have left advisers in limbo over what regulations constitute as law, Holly Nethercote believes....

Financial planning

Advisers loud on risk changes

Concerned that the Trowbridge report reflects their working reality, life/risk advisers dominate 130 submissions to the Life Insurance and Advice Working Group....

Financial planning

Tarrant appeal rejected

Accountant, Mervyn Ross Tarrant, has failed to have a seven-year ban from providing financial services overturned by the Federal Court of Australia....

Financial planning

ASIC to flex muscles in 2015: law firm

Product manufacturers need to ensure their services and compliance procedures are up to standard, with ASIC set to take a hard-line approach in 2015, according to legal e...

Financial planning

ASIC chairman reveals flight expenses

The chairman of Australia’s corporate regulator and his staff spent $45,000 in the second half of last year on international business travel, more than 80 per cent of whi...

Financial planning

Lender boosts standards following ASIC concerns

A Bundaberg-based building society has agreed to review its lending practices after ASIC raised concerns that it relied too heavily on information from a finance broker....

Financial planning

Planners exposed by platform requirements

Planners who cannot explain to clients their justification for recommending particular platforms may find themselves in breach of ASIC guidance....

Superannuation

Trio/Astarra could repeat without ASIC telecom powers

ASIC warns that legislative moves which curtail its ability to access telecommunications data warrants will risk another Trio/Astarra....

Life/Risk

ASIC concerns prompt QBE to change complaint comms process

QBE will ensure all future communications relating to escalated complaints and dispute resolution will have the company’s branding rather than an external legal firm’s, u...

Financial planning

ASIC sends signal on adviser recruitment

ASIC reinforces signal for licensees to be more discerning when recruiting advisers from failed planning groups....

Life/Risk

Insurance broker banned from FS

ASIC has banned a Sydney-based insurance broker from the industry for three years after he allegedly failed to pass on collected premiums to insurers. ...

Financial planning

Value of advice unproven to consumers

The political wrangling around financial advice reforms have passed over the heads of most consumers who have yet to be convinced of their relevance according to Adviser ...

Financial planning

CommFP remediation transcends client migration

The Commonwealth Bank makes clear that former CommFP clients retain access to its Open Advice Review program irrespective of changing advisers. ...