regulation

People & Products

IOOF hires regulation and remediation expert

IOOF has made a key appointment to its advice governance team, just one day after its chief executive, Chris Kelaher, stepped aside as the company faces intense regulator...

Policy & Regulation

ASIC gets product intervention power

In a last legislative act by the current Parliament, the Australian Securities and Investments Commission has been handed its product intervention powers....

Policy & Regulation

Franking credits inquiry ends as it began – in disagreement

The Parliamentary Committee inquiry into the removal of franking credits has ended as it began – in disagreement between the major parties....

Policy & Regulation

FPA urges ASIC to act on fee comparability

The Financial Planning Association has urged the Australian Securities and Investments Commission to act to ensure financial product manufacturers more consistently revea...

Superannuation

ASIC proposals could worsen transparency problem

Changes to superannuation fee disclosure proposed by ASIC to improve transparency won’t solve the problem and could just increase confusion for consumers....

Financial planning

FPA links commissions to fee for no service

The Financial Planning Association has restated its position on a three-year phase-out of grandfathering, claiming that commissions have led to some consumers paying impl...

Policy & Regulation

Frydenberg takes financial services prosecutions federal

The Federal Government has budgeted to break new ground by shifting financial services criminal prosecutions away from the states and into the jurisdiction of the Federal...

Policy & Regulation

ASIC and APRA already Budget winners

The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have already been identified as major funding winners from next mo...

Policy & Regulation

SMSFs win on LRBAs

The Government has accepted a report from the Council of Financial Regulators and the Australian Taxation Office declaring that limited recourse borrowing arrangements ar...

Policy & Regulation

ASIC cancels accounting firm licenses

The Australian Securities and Investments Commission has broken new ground cancelling the licenses of two accounting firms for failing to obtain membership of the Austral...

Financial planning

Former Financial Wisdom advisor banned by ASIC

Australian Securities and Investments Commission has banned former Financial Wisdom advisor Anneliese Ada Willmott....

Policy & Regulation

Interim injunction against Forex Capital Trading extended

The Australian Securities and Investments Commission has been granted an extension of its interim orders to restrain the company from removing their assets from Australia...

Policy & Regulation

Fin services needs to walk the walk on climate risk

Banks, insurers and super trustees need to do more than talk the talk where climate change is concerned, with a key regulator urging them to also act to mitigate risks to...

Policy & Regulation

ASIC wraps up Westpoint actions

The last of 19 civil actions brought by ASIC against financial services licensees recommending Westpoint products has wrapped up, with almost $1.5 million being recovered...

Policy & Regulation

IOOF faces class action

A Sydney law firm has announced a class action against IOOF based on losses to shareholders resulting from the Royal Commission and the action initiated by the Australian...