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Showing 51 - 60 of 76 results for "ASIC Report"

Life insurance commissions must remain an option: AFA

LAURA MILLAN  |  WEDNESDAY, 11 FEB 2015
... complete ban on commissions, Anderson said: "Commissions must remain an option, we don't see them disappearing." The ASIC report analysed 243 client files, excluded 41 and determined that 127 files (63%) were correct, but rated 75 files (37%) as failed. ...

ASIC report highlights insufficient penalties

LAURA MILLAN  |  MONDAY, 2 FEB 2015
Monetary penalties for large organisations reached record levels in 2014, but are still insufficient, according to the Australian Securities and Investments Commission (ASIC) latest enforcement report. ASIC quotes the record $1.2 million civil penalty ...

Life Insurance and Advice Working Group chair appointed

MARK SMITH  |  FRIDAY, 17 OCT 2014
... QBE and Suncorp. In 1981 he started actuarial firm Trowbridge Consulting which merged with Deloitte in 2000. "The ASIC report points to some important issues for consumers and the broader Australian community. These are complex and difficult issues for ...

Labor considers ban on insurance commissions

LAURA MILLAN  |  TUESDAY, 14 OCT 2014
... were concerned about the level of underinsurance in Australia, and that's a legitimate concern. But I think that the ASIC report means that we need to take it very seriously," Bowen said. "We will be looking very closely at that report, as well as consulting ...

Upfront commissions linked to bad advice

JAMES FERNYHOUGH  |  FRIDAY, 10 OCT 2014
... no commissions. Financial Standard contacted a number of advice groups to find out how they intend to react to the ASIC report. Only AMP and the Commonwealth Bank had responded at time of writing. An AMP spokesperson said: "Customers expect us to provide ...

One third of risk advisers non-compliant, ASIC says

JAMES FERNYHOUGH  |  THURSDAY, 9 OCT 2014
... remuneration models in the life insurance industry are sustainable and practical for consumers and the industry." "The ASIC report requires a serious response from the industry. We have formed a working group to achieve this." The Financial Planning ...

Senate Committee forced to delay tabling of ASIC report

LAURA MILLAN  |  WEDNESDAY, 28 MAY 2014
A significant late communication from Commonwealth Bank has forced the Senate Economics Committee to delay the tabling of the report into the Australian Securities and Investments Commission (ASIC). The committee's chair Mark Bishop said on Twitter ...

Charterhill assets frozen

HARRY PAGE  |  THURSDAY, 6 FEB 2014
... Charterhill group. Recently, the quality of advice given by SMSF professionals has not been up to scratch according to an ASIC report. "The decision to establish an SMSF is one of the most significant steps an investor can take in relation to their retirement ...

ASIC reports drop in financial services insolvencies

JAMES FERNYHOUGH  |  FRIDAY, 18 OCT 2013
The number of financial and insurance services (FIS) companies going into external administration in the 2012-13 financial year fell modestly compared to the previous year, according to new figures released by the Australian Securities and Investments ...

Hedge fund maestro Hintze voices concern over regulation

MARK SMITH  |  THURSDAY, 12 SEP 2013
... mounted pressure on hedge funds to improve disclosure and justify their place in the investment universe. But a recent ASIC report concluded that the hedge fund industry, which many still blame for exacerbating the financial crisis, currently poses no ...