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Search ResultsShowing 1 - 10 of 100+ results for "ASIC"
More clarity on life insurance best interest duty needed: Research
ELIZA BAVIN  |  FRIDAY, 25 SEP 2020
... disability income insurance market, including providing examples of Best Interest Duty in life insurance. The report said ASIC included in RG 175 examples of the application of the BID in various circumstances, but there are no "useful examples" for ...
Responsible lending laws to be revoked
ANNABELLE DICKSON  |  FRIDAY, 25 SEP 2020
... said the responsible lending framework is "overly prescriptive, complex and unnecessarily onerous on consumers." As a result ASIC will no longer enforce the responsible lending laws for banks however, authorised deposit taking institutions (ADI) will ...
ASIC, IOSCO report on debt capital raisings
ALLY SELBY  |  THURSDAY, 24 SEP 2020
... has released a report into its findings on debt capital raisings following two years of surveillance of market practices. ASIC's 668 Report noted that while a properly functioning debt capital market (DCM) is vital for the real economy, poor conduct ...
ASIC wealth director nabs promotion
ALLY SELBY  |  THURSDAY, 24 SEP 2020
The corporate watchdog's executive director of wealth management has nabbed a promotion and will now assume the role of ASIC's executive director of financial services. Joanna Bird has been appointed in the role after many years with the regulator and ...
ASIC extends advice, capital raising provisions
ANNABELLE DICKSON  |  THURSDAY, 24 SEP 2020
ASIC has extended the relief to financial advice that relates to the early release of superannuation scheme as well as certain capital raisings due to the uncertainty of the pandemic. The corporate regulator has extended the capped advice fees regarding ...
ASIC cleans up 'cash plus' funds
KANIKA SOOD  |  WEDNESDAY, 23 SEP 2020
ASIC found 14 'cash' funds with $7 billion in assets had confusing or inappropriate labelling, resulting in changes to names, asset allocations or in one case, even a closure. The corporate regulator found some funds that labelled themselves as 'cash ...
Lifespan adds MDAs to BT Panorama
KANIKA SOOD  |  TUESDAY, 22 SEP 2020
... (MDAs) take the lion's share of FUM with $35.28 billion followed by separately managed accounts (SMAs) at $28.06 billion. ASIC was expected to put out a consultation paper on MDAs last year but in March this year, said it had been delayed as it recalibrated ...
ASIC provides relief to Victorian advisers
ALLY SELBY  |  TUESDAY, 22 SEP 2020
... Businesses that have otherwise been impacted by Victorian lockdowns will also be taken into account. As part of the no-action, ASIC said it wouldn't be taking regulatory action against AFSLs or their representatives for a breach of sections 62G, 962K ...
Praemium to acquire remaining Powerwrap shares
ALLY SELBY  |  MONDAY, 21 SEP 2020
... Praemium says, unless they accept the offer by 7.00pm Melbourne time today. A copy of the notice will also be lodged with ASIC, it said. Praemium has offered Powerwrap shareholders 7.5 cents per share in cash and one Praemium share for every two Powerwrap ...
ASIC puts SMSF auditors on notice
ANNABELLE DICKSON  |  MONDAY, 21 SEP 2020
... and advise their professional bodies of the additional conditions. Krammer will also have to certify his independence to ASIC periodically and have an ASIC approved independent quality reviewer review three of his SMSF audits. The extra conditions applied ...
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