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Showing 1 - 10 of 100+ results for "ASIC"

ASIC industry levy to increase

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
... The new costs are applicable to licensees that provide personal advice to retail clients on relevant financial products. ASIC calculates a different levy for advisers who provide retail advice for products that are not relevant financial products - which ...

Greenwashing scrutiny needed: Evergreen

ELIZABETH MCARTHUR  |  FRIDAY, 23 JUL 2021
ASIC's research project into the extent of greenwashing in the investment management industry should be commended, according to Evergreen Consultants. "ESG or responsible investing is arguably the single largest trend in the investment universe today," ...

SMSF fraudster loses appeal

ANNABELLE DICKSON  |  FRIDAY, 23 JUL 2021
... secure funds from the investors after December 2013 without disclosing there was no real prospect of them being repaid," ASIC said in a statement. Gore was first arrested in April 2017 and charged with fraud after he obtained $800,000 from SMSF trustees ...

Get your ducks in a row before you think of an IPO

KANIKA SOOD  |  THURSDAY, 22 JUL 2021
... may be a deal breaker to going public, according to HLB Mann Judd partner Marcus Ohm. Ohm says an undertaking with APRA or ASIC can preclude a wealth, funds management or insurance business from listing. "It would depend on the nature of the particular ...

ASIC consults on anti-hawking rules

KANIKA SOOD  |  THURSDAY, 22 JUL 2021
... meant Australians were getting sold financial products they did not need or want. The consultation is open until August 17. ASIC plans to publish final guidelines in September, for the October start. ASIC commissioner Danielle Press said the reforms ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
... licence over misconduct. Adam Bevan was an authorised representative and sole director of Trade Wind Financial Services. ASIC banned Bevan after he failed to act in the best interests of three clients after he failed to make enquiries about their existing ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
ASIC released more information on what financial advisers can expect from the new reference checking laws, which take effect on October 1. New protocols administered by ASIC requires a licensee recruiting a prospective financial adviser to request a ...

ASIC spells out IDR reporting

ANNABELLE DICKSON  |  TUESDAY, 20 JUL 2021
... reporting framework. The data dictionary sets out the information that financial firms will be required to collect and report to ASIC while the data glossary provides explanations about the terms in the dictionary. The pilot versions were created after ...

Another cash ETF bites the dust

KANIKA SOOD  |  MONDAY, 19 JUL 2021
... BetaShares's $2.1 billion AAA, and iShares's $437 million core cash and $230 million enhanced cash. In recent years ASIC has forced funds and responsible entities to justify their use of "cash" in fund names if they are investing outside of i ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
... insurers and RSE licensees that fall under this threshold will not have to submit accountability maps and statement to APRA and ASIC under the enhanced compliance thresholds. "The Financial Accountability Regime imposes a strengthened responsibility ...
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