ASIC ramps up surveillance and remediation after adviser conflict reportBY KARREN VERGARA | THURSDAY, 25 JAN 2018 12:58PMASIC is ramping up its surveillance and remediation processes to help curb further adviser conflicts of interest within vertically integrated institutions.
Related News |
Editor's Choice
T. Rowe Price appoints local operations chief
|T. Rowe Price, the global asset manager with over US$1.3 trillion in assets under management, has appointed a regional operating chief who will relocate to Sydney from the London office.
Vanguard backs current performance test
|Vanguard has endorsed the current performance test methodology in a submission to Treasury, championing its effectiveness in eliminating underperforming investment options and improving member outcomes.
Sequoia chair steps down
|The chair of Sequoia Financial Group, John Larsen, has resigned from the position and his replacement has been appointed.
Court approves $16m DASS settlement
|The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay.
Further Reading
Sponsored by | Where do advisers invest their time?The stage 3 tax cuts have sparked discussions on bracket creep. Implementing a tax-effective investment strategy is crucial now more than ever. |
Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
Products
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
ASIC would be better served if it made recommendations to the government along the lines of:
1. Prevent product providers with an AFSL from providing personal advice, only general advice.
2. Regulate providing personal advice on and/or dealing in a financial product to independent Auth Reps only.
In the long term, I would suggest looking into the possibility of (i) combining the AFSL and ACL into one licence, (ii) merging their respective laws into one new statute and (iii) creating a separate authority to administer "Financial Services" (not ASIC).