The Federal Court ruled that ASIC failed to establish that CBA received conflicted remuneration when distributing Colonial First State's superannuation product.
October 3, 2022Two years ago, the government banned LICs and LITs from paying stamping fees to AFS licensees for help secure investors for capital raisings.
July 8, 2022Only eight product issuers still had grandfathered conflicted remuneration arrangements in place as at 1 January 2021.
July 21, 2021ASIC issued updates to RG 246 that would reflect the end grandfathering of conflicted remuneration for financial product advice from 1 January 2021.
December 15, 2020The FASEA regime has created a barrier to many people who seek to provide advice services and to consumers who seek to access them, says a new Rice Warner report.
October 27, 2020Forex Capital Trading and its sole director allegedly used high pressure sales tactics, false or misleading statements, and conflicted remuneration to maximise trading volume and client deposits.
July 22, 2020Colonial First State is said to have used CBA's branches and digital channels to sell superannuation products to more than 390,000 bank customers under a revenue-sharing arrangement.
June 24, 2020Fund managers will be barred from paying fees to financial advisers and stockbrokers for selling listed investment companies and trusts.
May 25, 2020The bills introduce a best-interests duty for mortgage brokers, ban unfair contract terms in insurance, and enable ASIC to more effectively enforce existing laws.
February 10, 2020ASIC is reviewing whether sales commissions paid by fund managers to brokers or financial advisers to sell funds compromise the best interests of investors.
January 14, 2020