Search ResultsShowing 1 - 10 of 100+ results for "ASIC"
Former adviser cops 12 years in jail
HARRISON WORLEY  |  FRIDAY, 18 OCT 2019
... in a diversified fund for an abalone farm in South Australia operated by entities under his control. Allegations laid by ASIC claim that over a period spanning more than two years, Jayaweera induced investors to invest money from their self-managed superannuation ...
ASIC nudges robo-adviser to shutter
ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
A digital advice firm has voluntarily shut down two robo-advice tools after ASIC raised concerns. Lime FS, a Sydney-based Australian financial services licensee, was running corporate authorised representatives Plenty Wealth, Plenty Plus and Lime Wealth ...
ASIC drags former adviser to court
HARRISON WORLEY  |  THURSDAY, 17 OCT 2019
... conduct in the course of carrying on a financial services business, a contravention of the Corporations Act 2001. According to ASIC, Miller advised clients CFS Private Wealth clients to invest funds with CFS Corporation (CFS), which clients understood ...
TPD riddled with issues: ASIC
ELIZA BAVIN  |  THURSDAY, 17 OCT 2019
An ASIC review has found significant industry-wide problems with the design of total and permanent disability insurance and the claims handling process. The regulator said the problems means the over millions of Australian workers who pay for the cover ...
ASIC grants compliance scheme relief
HARRISON WORLEY  |  WEDNESDAY, 16 OCT 2019
ASIC will grant AFS licensees with relief from the obligation to ensure their financial advisers are covered by a compliance scheme. As part of the government's decision late last week to accelerate the establishment of a single disciplinary body for ...
ASIC using intimidation tactics on grandfathering: AIOFP
ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
ASIC is using intimidation tactics to get product providers to shut down grandfathered commissions early, according to the Association of Independently Owned Financial Professionals (AIOFP). Speaking to Financial Standard , AIOFP executive director ...
ASX faces challenge on ETF stronghold
KANIKA SOOD  |  TUESDAY, 15 OCT 2019
... of ETF trading volume, according to Chi-X chief executive Vic Jokovic. Early last year, the exchange started talking to ASIC to develop a listing framework that would allow it to not just trade ETFs but also to list them . "It's been a long road ...
No one reads the PDS: ASIC
ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
ASIC is calling time on the financial services industry's reliance on disclosure as the default consumer protection, saying it enables poor conduct and poor consumer outcomes. The regulator said disclosures have been assumed to inform consumers to make ...
BT Financial Group enlists research provider
ELIZABETH MCARTHUR  |  MONDAY, 14 OCT 2019
... in Australia grew 17% in the 12 months to March 2019. The growth has prompted increased scrutiny from regulators, with an ASIC review of managed discretionary accounts imminent . It has also prompted some in the industry to warn that potential conflicts ...
Code monitoring move disappoints industry
ELIZABETH MCARTHUR  |  MONDAY, 14 OCT 2019
... financial advice Code of Ethics will become law and financial advisers will be expected to meet the code's standards. ASIC will be able to take action against those who fail to do so. Code monitoring was to come into effect at the start of next year ...
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