australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Superannuation

ASIC welcomes reforms expanding its role in super

The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have welcomed the proposed reforms aimed at increasing the role of...

Financial planning

Low income clients being priced out of advice market

Superannuation funds have identified the manner which Government policy changes and increased regulation is pushing the cost of advice beyond the means of many low-income...

Financial planning

DDO indirect impact to be ‘significant’

The new design and distribution obligations regime could increase costs that could be passed onto consumers, according to a law firm....

Financial planning

How ASIC told super funds to handle adviser commissions

The Australian Securities and Investments Commission has confirmed how it placed conditions on superannuation funds which had the effect of ending the payment of commissi...

Policy & Regulation

APRA and ASIC need to collaborate on data

The Financial Services Council has recommended the two regulators must collaborate on information, documentation, and data requests and collection....

Financial planning

APRA/ASIC ‘engage’ super funds over adviser relationships

Superannuation funds have been ‘engaged’ by the regulators over payments to financial advisers and other third parties....

Policy & Regulation

Climate change an APRA supervisory priority in 2020

The Australian Prudential Regulation Authority will be imposing a climate change stress test on banks, insurers and superannuation funds....

Financial planning

ASIC permanently bans NSW adviser

The Australian Securities and Investments Commission has permanently banned Nicholas Ellis who was previously banned for six years for dishonest conduct....

Superannuation

ASIC confirms sub-$200K SMSFs generate negative returns

The average self-managed superannuation fund with a balance less than $200,000 generated negative returns over three successive financial years, according to the Australi...

Financial planning

Limited licensing has failed claims SMSF Association

The SMSF Association wants the Government to dump its limited licensing regime for accountants on the basis of it having failed to meet its objectives and having, instead...

Policy & Regulation

Govt pressured to exclude SMSFs from DDO regime

Self-Managed Superannuation Funds should be exempted from the Government’s new design and distribution regime because they are not like other financial products, accordin...

Financial planning

Legacy complaints building towards 1,000

There has been no shortage of consumers and small businesses looking to file legacy complaints with the Australian Financial Complaints Authority, with data suggesting le...

Financial planning

ASIC extends Halifax AFSL suspension

The Australian Securities and Investments Commission has further suspended Halifax Investments Services’ Australian Financial Services Licence....

Funds management

ASIC on notice for inaccurate statements

Union Standard International Group may proceed against the corporate watchdog for damages arising from inaccurate statements and a failure to mention key matters regardin...

Financial planning

ASIC provides advisers a best interests break on DDO

The Australian Securities and Investments Commission will regard personal advice entailing client best interests as obviating many of the adviser strictures of the new de...