One adviser has been found guilty and another served an injunction following investigations by the Australian Securities and Investments Commission (ASIC) into two cases of alleged fraud.
Category: Compliance & Regulation
MySuper Legislation Putting Insurance at Risk - CSSA
May 18, 2012 – 5:39 pm
Incorrect assumptions made by Treasury could cause thousands of superannuation fund members to lose their life insurance cover, according to an industry association.
Advisers Commencing FoFA Preparations
May 15, 2012 – 4:26 pm
One third of advisers have already begun proactive discussions with clients about the Future of Financial Advice (FoFA) reforms, despite the fact the Bills have not yet passed Parliament, according to survey results released by AIA Australia.
AFSL Fees to Skyrocket
May 9, 2012 – 11:27 am
The cost of applying for an Australian Financial Services License (AFSL) will more than double under the changes proposed in last night’s Federal Budget.
Questions Over Quality of Limited Advice
May 8, 2012 – 5:57 pm
The Australian Securities and Investments Commission’s (ASIC) Shadow Shop report has found a direct link between the level of strategic advice given to a client and the overall quality of the advice provided.
ASIC Issues Warning About Independence
May 3, 2012 – 8:53 am
Advisers who incorrectly claim to be ‘independent’ run the risk of being scrutinised by the Australian Securities and Investments Commission (ASIC), following an investigation into the use of the term.
News in Brief
May 2, 2012 – 10:00 am
- AFA Excellence in Education Awards Open
- Updated Draft Prudential Standards for Insurance in Super
- Online Engagement With Super Highest Amongst Seniors
ASIC Reveals Code of Conduct Process
May 2, 2012 – 9:24 am
The Australian Securities and Investments Commission (ASIC) has shed some light on the process it will follow to approve industry codes of conduct, giving indications that it may be some time before the issue is resolved.
Advisers Spared Tax Agent Registration Until 2013
April 30, 2012 – 6:36 pm
Advisers will not have to comply with the taxation agent services regime (TASR) until 30 June 2013, thanks to an extension of the current exemption by the Government.
Two More Ex-Commonwealth Financial Planners Banned
April 30, 2012 – 1:49 pm
The Australian Securities and Investments Commission (ASIC) has banned two more advisers who operated under the Commonwealth Financial Planning Limited (CFPL) license.
