News : ASIC

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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ASIC

Review uncovers delays in breach reporting

A new report from the Australian Securities and Investments Commission (ASIC) has identified serious, unacceptable delays in the time taken by Australia’s major financial institutions to identify, report and correct significant breaches of the law.

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ASIC, Investments

ASIC cracks whip on crypto-assets

The Australian Securities and Investments Commission (ASIC) has moved to act against misleading initial coin offerings and crypto-asset funds targeting retail investors.

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Accounting, ASIC

ASIC provides insurance product relief

The Australian Securities and Investments Commission (ASIC) has remade Class Order Group Purchasing Bodies to extend relief to holders of limited Australian financial services licences (AFSL) so they are exempt from needing to hold a full AFSL in order to purchase group insurance products for their clients.

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ASIC

Kell to depart ASIC

Peter Kell today announced his resignation as deputy chair of the Australian Securities and Investments Commission (ASIC), effective 6 December, after seven years of service.

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ASIC

ASIC begins Dover civil penalty action

The Australian Securities and Investments Commission (ASIC) has commenced civil penalty action in the Federal Court in Melbourne against Dover Financial Advisers Pty Ltd and its sole director, Terry McMaster.

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ASIC, Compliance

ASIC warns advisers on best interest duty

The corporate regulator has used the upholding of a ban on a former Westpac adviser who advised clients on SMSFs as a reminder to financial advisers of the importance of complying with the best interest duty and conducting reasonable investigations to ensure their advice is in the best interests of clients.

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ASIC

ASIC approves AFCA rules

The Australian Securities and Investments Commission (ASIC) has approved the Australian Financial Complaints Authority (AFCA) complaint resolution scheme rules and the terms of reference of the AFCA independent assessor (IA).

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ASIC, Auditing, Regulation

Audit go-ahead spotlights auditor registration

Chartered Accountants Australia and New Zealand (CAANZ) and CPA Australia have indicated should the triennial audit cycle for eligible SMSFs proceed, the Australian Securities and Investments Commission (ASIC) may need to review its auditor registration requirements.

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ASIC

Court EU slapped on ex-MyPlanner adviser

The corporate regulator has accepted a court-enforceable undertaking (EU) from a former adviser at independently owned financial planning group MyPlanner Australia, prohibiting him from providing advice for three years.

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