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Financial planning
ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes t...
Financial planning
ASIC has said it is exploring whether there are concerns regarding Macquarie and Equity Trustees for hosting platforms where investors rolled over their superannuation in...
Financial planning
Financial advisers receive the second-highest expenditure in ASIC’s financial services and wealth division, according to documents, ahead of investment managers and super...
Funds management
The corporate regulator has outlined its philosophy in dealing with greenwashing and the by-product of greenhushing, having already reported around 35 of such interventio...
Financial planning
Appearing at Senate estimates, ASIC deputy chair Sarah Court has claimed the $7.2 million penalty issued to Dixon Advisory was made to send a “deterrent message” as the f...
Funds management
The corporate regulator has commenced civil penalty proceedings against Westpac for failing to respond to 229 customer hardship notices within the required time limit....
Policy & Regulation
ASIC staff need to consider if they are taking on enough risk in choosing cases to litigate, according to chair Joe Longo, prompting a Senate committee to ask if it shoul...
Superannuation
The superannuation fund is the first licensee to have a civil penalty imposed for failing to report breaches to the corporate regulator since its new penalty powers were ...
Financial planning
In an unprecedented move, the corporate regulator has launched multiple civil penalty proceedings again the bank for matters including fee-for-no-service for deceased cus...
Financial planning
The Australian Securities and Investments Commission has said it will bring back the use of the enforceable undertakings....
Financial planning
Ahmed Saad will serve a nine-month prison sentence for illegally allowing clients to withdraw superannuation funds from 2016 to 2017. ...
Life/Risk
The corporate regulator alleges MLC Life Insurance, in some instances, failed to pay life insurance benefits, notify on premium rises or refund premiums, amongst other br...
Superannuation
The Federal Court has ordered Colonial First State Investments Limited to pay a penalty of $20 million for misleading communications with members. ...
Policy & Regulation
If the corporate regulator had funds awarded by penalties put into the financial advice levy it could look like a new revenue stream aimed at players with deep pockets....
Financial planning
The first penalty of its kind, the penalty relates to allegations from the corporate regulator in 2019 that the big four bank issued defective fee disclosure statements t...
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MARKET INSIGHTS
Podcast
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...
increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...