Financial industry associations say a ban on commissions paid to financial advisers for selling financial products would harm consumers.
January 25, 2023AFS licensees are responsible for notifying ASIC by 1 February whether their financial advisers can provide tax (financial) advice services.
January 10, 2023Legislation passed last October required financial advisers to register with ASIC by 1 January 2023. The new deadline is 1 July 2023.
November 8, 2022The firms misused the wholesale investor exclusion to extend offers to people with little or no investment experience.
October 24, 2022Treasury proposes to remove tertiary education requirements for experienced financial advisers, and simpler requirements for new entrants to the industry.
August 30, 2022FSCP sitting panels will comprise an ASIC staff member as chair and at least two external members from the FSCP's pool of industry participants.
August 5, 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, 2022The Enablers Act would require financial advisers, lawyers, art and antiquities traders to perform due diligence on their clients and file SARs.
July 5, 2022ASIC can issue a warning or reprimand to a financial adviser in circumstances where it does not plan to take stronger enforcement action.
June 13, 2022Two insurance agents of Prudential Assurance Company Singapore provided false information to MAS in relation to an investigation it was pursuing.
May 23, 2022