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Showing 41 - 50 of 76 results for "ASIC Report"

ASIC cancels Melbourne firm's AFSL

KANIKA SOOD  |  THURSDAY, 17 MAY 2018
ASIC has cancelled the Australian financial services (AFS) licence of a Melbourne-based advice firm, which was among a trio of companies that copped a $7.2 million fine from the corporate regulator in February. ASIC took Wealth & Risk Management Pty ...

RECAP: Advice in the Royal Commission spotlight (Day 4 and 5)

KANIKA SOOD  |  FRIDAY, 20 APR 2018
As the Royal Commission disbands for the week, Financial Standard summarises all the evidence heard on day four and five of the financial advice industry's turn before Commissioner Kenneth Hayne. Executives from Westpac, CBA and AMP have now made an ...

Vertically aligned institutions pay $21.4m compensation

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2018
ASIC said clients of the big four banks and AMP who received non-compliant financial advice will be compensated a further $21.4 million. This adds to the $30 million compensation bill ASIC announced in March 2017 after it investigated how large institutions ...

AMP launches LIF-ready resource

KARREN VERGARA  |  WEDNESDAY, 20 SEP 2017
... messages ASIC has reported on the state of financial advice provided in life insurance. The association questioned an ASIC report stating the number of advisers suspected of churning was less than 50 and therefore not problematic, while another report ...

ASIC sets sights on IPO investment

EMMA RAPAPORT  |  FRIDAY, 1 SEP 2017
... misleading prospectuses could soon be a thing of the past following an industry regulator review of the IPO market. An ASIC report looked at the experience of institutional and retail investors in making decisions, and outlined its aim to support confidence ...

RG 133 review reveals poor compliance

EMMA RAPAPORT  |  THURSDAY, 22 JUN 2017
... showing generally poor levels of understanding and compliance with Regulatory Guide 133. These findings form part of an ASIC report outlining an extensive review of 21 responsible entities and custodians. "Several entities did not appear to have revised ...

Adviser commission reforms pushed back

JAMIE WILLIAMSON  |  WEDNESDAY, 5 OCT 2016
... AFA under the life insurance reforms," Fox said. The AFA is also currently lobbying for a postponement of the future ASIC report on the success of the reforms to include evidence collected after the changes come into effect. The draft legislation relating ...

Former Westpac adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 27 SEP 2016
ASIC has banned a former Westpac adviser from providing financial services for four years. Michael Mahoney of Adelaide has been disqualified after an ASIC investigation found that he engaged in misleading and deceptive conduct during his time as a Westpac ...

Industry moves away from upfront commissions

LAURA MILLAN  |  THURSDAY, 25 JUN 2015
... making disclosure simpler and more effective. The debate over insurance advice remuneration models was prompted by an ASIC report that revealed that over one third of risk advisers were not compliant.

AFA can't give Trowbridge report "complete support"

ALEX BURKE  |  FRIDAY, 27 MAR 2015
... got the dignity and the benefit of life insurance payouts," he continued. "That's the core of what this is about. ASIC report 413... did put insurance advice into the frame of poor public opinion. We had to take ownership and accountability for what ...