australian securities and investments commission

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Superannuation

ICAA welcomes auditor registration regime

The Institute of Chartered Accountants in Australia has welcomed the auditor registration regime but with some caveats....

Superannuation

SMSF auditors should 'wait and hold' on licensing

The cost of registering as a self-managed superannuation fund (SMSF) auditor is likely to be in the hundreds of dollars rather than thousands, according to SMSF Professio...

Superannuation

Antisocial media policy advice

The deepening use of social media for member communication is pushing superannuation funds closer to transgressing the legal frameworks set in place to govern general and...

Policy & Regulation

FOFA passes, but confusion over enshrining 'financial planner'

The Government’s Future of Financial Advice (FOFA) legislation passed through the Senate yesterday, but there seems to be some confusion over whether the terms 'financial...

Financial planning

BMW pays for breaching National Credit Code

BMW has been ordered by ASIC to repay $1,392,667 to customers after the car financer breached the National Credit Code....

Financial planning

Cutting the pay-for-ratings model could be a 'game changer'

With submissions being considered by ASIC, it is essential that the financial services industry understands the potential ramifications of removing the current pay-for-ra...

Financial planning

Avant tightens marketing policy

Avant has responded to ASIC concerns regarding a recent mail-out to policy holders that contained potentially misleading information....

Editorial

Trio Capital exposes investor compensation shortcomings

Susanna Khouri believes the Trio Capital debacle has highlighted the need for better mechanisms to compensate investors for loss....

Policy & Regulation

FOFA passes Senate

The Government's Future of Financial Advice (FOFA) bills have passed the Senate, moving the hard compliance date back to 1 July 2013....

Editorial

FOFA concessions may have an expiry date

Mike Taylor writes that the Federal Opposition has signalled some of the so-called ‘concessions’ extracted around the passage of the FOFA bills may not have a life beyond...

Policy & Regulation

Key FOFA 'concession' in question

The Federal Opposition has signalled it remains to be convinced about either introducing or supporting legislation which would restrict the use of the terms 'financial pl...

Life/Risk

ASIC hands insurance provider strict compliance conditions

Australian Life Insurance Distribution will be required to adhere to additional compliance conditions after ASIC found the company had failed to comply with several condi...

Superannuation

ASIC unveils shorter PDS guidance

ASIC has released guidance on the shorter product disclosure statement regime which will apply to superannuation and simple managed investment scheme providers....