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COMPLIANCE
Financial planning
Merrill Lynch Equities (Australia) Limited has paid a penalty of $65,000 to comply with an infringement notice relating to a breach of the Corporations Act 2001. ...
Financial planning
ASIC has banned two advisers from providing financial services for up to five years. ...
Financial planning
The Financial Ombudsman Service (FOS) has apologised to a member of the service as part of the settlement of a case despite FOS winning the case. ...
Financial planning
Finance Minister, Senator Mathias Cormann says he’s convinced Senator Arthur Sinodinos will return to the Government’s front bench....
Financial planning
The BFP claims a structural flaw has allowed banks, insurers and super funds to dress up product sales as advice....
Financial planning
ASIC admits it targeted the big planning groups for shadow shopping because it thought it would make the most impact....
Financial planning
ASIC chairman, Greg Medcraft admits ambiguity led to CommFP client compensation failures, but claims the bank was not “upfront”....
Superannuation
APRA has admitted it doesn’t monitor the expenses of superannuation fund executives or trustees....
Policy & Regulation
ASIC executive claims consumer misunderstandings were exploited for the benefit of financial services providers....
Financial planning
Penalties for financial planners who breach the law are not severe enough, the Australian Securities and Investments Commission believes....
Financial planning
ASIC chair Greg Medcraft emphasises regulator’s enforcement efforts and states does best it can with resources to hand....
Financial planning
The Commonwealth Bank (CBA) has responded to its grilling at a Senate Committee by restating its compliance with the inquiry’s requests for more information. ...
Financial planning
Financial services firms concerned about compliance may be better off sharing a licence with other parts of the business, a specialist lawyer says. ...
Financial planning
Industry Fund Services (IFS) has resolved compliance issues related to incorrect investment of client funds into an unregistered management investment scheme...
Superannuation
ASIC grants relief to super fund’s advisory arm to reduce advisor exposure to personal liability....
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So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...