News : ASIC

ASIC, Regulation

Consistent advice must avoid checklist routine

The Australian Securities and Investments Commission (ASIC) has reaffirmed its position on how the financial advice industry should achieve consistent standards in light of the banking royal commission.

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ASIC, Auditing

ASIC disqualifies Victorian SMSF auditor

The Australian Securities and Investments Commission (ASIC) has disqualified Oscar Altavilla, of Victoria, from being an approved auditor of SMSFs for breaching independence and auditing standards, and otherwise not being a fit and proper person.

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ASIC, ATO, Education

ASIC, ATO to lift current SMSF trustee education

The Australian Securities and Investments Commission (ASIC) is working with the ATO to help consumers better understand the advantages and disadvantages of setting up and running an SMSF.

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ASIC, Auditing

ASIC disqualifies two SMSF auditors

The Australian Securities and Investments Commission (ASIC) has disqualified two Queensland SMSF auditors for breaching independence requirements.

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ASIC, Auditing

ASIC reports on SMSF auditor enforcements

The Australian Securities and Investments Commission (ASIC) has deregistered, suspended or imposed conditions on 101 SMSF auditors for audit quality and independence issues or on “fit and proper person” criteria since the auditor register began in 2013.

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ASIC, Regulation

EUs effective in deterring misconduct: study

New research has revealed financial services and credit providers fear being sanctioned by enforceable undertakings (EU) and find it a deterrent despite speculation that the regulatory contracts are ineffective.

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ASIC

Poor SMSF advice sees AFSL cancelled

The Australian Securities and Investments Commission (ASIC) will cancel the Australian financial services licence (AFSL) of Austplan for failing to act in clients’ best interest in establishing SMSFs, among other deficiencies.

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ASIC, Financial Planning

Commonwealth FP given further improvements

The initial findings of a report into the fee-for-no-service conduct of Commonwealth Bank of Australia’s advice arm, Commonwealth Financial Planning, has been released, alongside additional recommendations.

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ASIC, Education

ASIC delays reporting dates for adviser reforms

The Australian Securities and Investments Commission (ASIC) today released a new legislative instrument relating to the professional standards reforms for financial advisers.

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ASIC, Compliance

ASIC releases code of ethics guidance

The Australian Securities and Investments Commission (ASIC) has issued guidance on its proposed approach to approving and overseeing compliance schemes for advisers, and how it expects a scheme to operate on an ongoing basis.

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