sean hughes

Policy & Regulation

CBA required to publish misconduct notices

As part of its penalty for overcharging interest on business overdraft accounts, which it has been forced to pay $7 million, it will also be required to publish misconduc...

Life/Risk

TAL found guilty in ASIC Federal Court action

Big insurer, TAL has been found guilty in the Federal Court of breaching its duty of utmost good faith under the Insurance Contracts Act with respect to an income protect...

Editorial

ASIC needs to be a regulator, not a revenue centre

The standing aside of Australian Securities and Investments Commission chair, James Shipton, points to fundamental issues with respect to the regulator....

Policy & Regulation

ASIC warning – get DDO right from day one

A tick-a-box approach to the new design and distribution obligations will not do and financial services will need to get the new regime right from day one, according to t...

Policy & Regulation

ASIC opens consultation on second product intervention order

The Australian Securities and Investments Commission has launched a consultation on a second product intervention order to stop continuing consumer harm. ...

Financial planning

ASIC hits out at 'disappointing' efforts by ME Bank

The Australian Securities and Investments Commission has hit out at ME Bank over the “disappointing” way it handled its problems over client mortgages and said it has had...

Financial planning

Ex-NAB adviser sentenced to corrections order

Max Kiattisak Eung has been sentenced to jail after pleading guilty to obtaining financial advantage by deception of $166,500....

Policy & Regulation

Have licensees been clearing out their breach skeletons?

The Australian Securities and Investments Commission has speculated that a 50% increase in breach reporting may be the result of licensees clearing the skeletons out of t...

Policy & Regulation

It was a test case insists ASIC

The Australian Securities and Investments Commission has reinforced that its responsible lending action against Westpac was a test case....

Financial planning

ASIC confirms scrutiny of industry funds advice

The Australian Securities and Investments Commission has confirmed closer scrutiny of advice provided via superannuation funds while noting that conflicts of interest in ...