regulation

Policy & Regulation

The Australian Securities and Investments Commission has admitted only five firms are using its so-called regulatory sandbox, with many others utilising pre-existing alte...

Policy & Regulation

ASX200 companies fail in whistle-blower support

The Australian Council of Superannuation Investors has hit out at ASX200 companies, finding that many fail to protect or offer support to whistle-blowers....

Superannuation

FCA orders winding up of Superfunded

The Federal Court has made orders by consent to wind up Western Australian company Superfunded, following an application from ASIC to appoint a liquidator last month....

Policy & Regulation

Super pressure paused RG 97 implementation

The Australian Securities and Investments Commission has admitted that negative feedback from superannuation funds and lobby groups persuaded it to place the implementati...

Policy & Regulation

FSC warns on widening whistle-blower recipient status

Insurers and other members of the Financial Services Council might have to train thousands of managers and supervisors if the Government widens the scope of those eligibl...

Policy & Regulation

Call for grandfathering for annuities holders

The Federal Government has been urged to ensure grandfathering for existing annuities holders if it implements changes to the Age Pension means testing rules....

Policy & Regulation

Adviser permanently banned over dishonest fees

ASIC has permanently banned a New South Wales financial adviser from providing financial advice, following a finding that he dishonestly charged clients almost $67,000 in...

Policy & Regulation

Morrison cites power of BEAR on Commbank CEO appointment

The Federal Treasurer, Scott Morrison, has cited the impending passage of the Bank Executive Accountability Regime when discussing the appointment of a new Commonwealth B...

Policy & Regulation

Law firm calls for control test to be restricted

The Fold Legal has proposed that the definition of control under the Corporations Act be restricted, despite an Australian Securities and Investments Commission taskforce...

Policy & Regulation

Are Aussie banks susceptible to fake news?

Australian banks may be particularly susceptible to fake news because of the negative perceptions already existing amongst consumers....

Financial planning

10% of advice of significant concern to ASIC

Ten per cent of advice files from the major banks and AMP sampled by the Australian Securities and Investments Commission proved to be of significant concern....

Policy & Regulation

Funds hiding true fee costs in PDSs

While funds are complying with the Australian Securities and Investments Commission’s requirements for fee disclosure in product disclosure statements, they are providing...

Policy & Regulation

Firms need to prepare evidence early for Royal Commission

Financial services firms need to prepare evidence early and consider their policies and procedures ahead of the Royal Commission into misconduct in the banking, superannu...

Financial planning

Financial planner banned for five years

Kimberley Holgate has been banned from providing financial services for five years by the Australian Securities and Investments Commission, following a finding by the reg...

Policy & Regulation

Suncorp and Allianz in multi-million dollar refunds

Suncorp and Allianz have been obliged to make refunds to customers worth millions of dollars after being found to have offered so-called ‘add-on’ insurance of little or n...