ASIC says it may request records from advice licensees and financial advisers to monitor compliance with the new design and distribution obligations.
September 24, 2021The FPA says the formula ASIC uses to estimate the industry funding levy for financial planners is not equitable or sustainable and must be reviewed immediately.
July 29, 2021Under draft rules, accredited businesses would be able to share CDR data with their agents, or sponsor other parties to become accredited.
May 6, 2021The new policy will encourage informed participation in stocks and bonds, while also protecting investors against bad investment choices.
October 11, 2020The new SEC Act will allow for recognition of new categories of market intermediaries and introduce new enforcement mechanisms to deal with market misconduct.
September 19, 2020A federal court ordered AMP to pay a A$5.175 penalty for failing to prevent its financial planners from engaging in insurance churn for higher commissions.
February 6, 2020The scheme will ensure that consumers and small businesses receive a payout in cases where compensation has been awarded but the financial services provider is unable to pay.
December 26, 2019The relief is granted through a legislative instrument that state that the suspension of the compliance scheme framework applies until 31 October 2022.
November 20, 2019The FPA says advisers are worried old cases will be judged against newer, stricter advice standards and they may not be covered by professional indemnity insurance.
April 25, 2019ASIC has launched a civil action against AMP for misconduct in its financial planning arm causing the firm to put 300 of its financial planners on notice that their licences may be discontinued.
July 12, 2018