The latest issue of Financial Standard now available as an e-newspaper
|ASIC has confirmed it will not be recommending changing the label of 'general advice', after independent research commissioned by the regulator found such a move is unlikely to prevent consumer confusion.|
|ASIC has commenced civil proceedings against Westpac for insider trading on a $12 billion deal with AustralianSuper and a group of IFM entities.|
|An ASIC review of retail managed funds found that they effectively coped with the challenges presented by COVID-19.|
|A former authorised representative of Australian Unity Personal Financial Services was handed a five-year ban for telling clients MySuper options are more expensive and to opt out of the products.|
|The Sunshine State is joining Victoria and the nation's capital in banning the Commonwealth Bank's school-banking program.|
|IOOF will take remedial action after ASIC found a significant proportion of Bridges and RI Advice clients were at risk of financial detriment.|
|The corporate regulator is seeking stakeholder feedback on updates to draft guidance on breach reporting reforms that aim to reduce industry misconduct.|
|Victorian-based Ahmed Saad has pleaded guilty after previously being charged with dishonestly obtaining financial advantage by deception for his role in an illegal retail superannuation scheme.|
|The federal government will fold the 2022 Life Insurance Framework Review into the Quality of Advice Review, taking over the responsibilities from ASIC.|
|The federal government has released draft legislation outlining the function of ASIC's Financial Services and Credit Panel as the single disciplinary body for financial advisers.|
Australian Ethical introduced a new high conviction fund to wholesale clients, investing in a range of sectors including local healthcare, renewables and technology stocks within the S&P ASX 300.
The super industry is calling for mandated consistency on portfolio holdings disclosure after it was recommended the Future Fund be exempt from disclosing commercially sensitive information.
Capstone Financial Planning has revoked the authorisation of Mark Babbage, the Victorian financial adviser jailed for breaching Western Australia's strict border restrictions to attend the AFL Grand Final.
Ellerston Capital will terminate the Morphic Global Opportunities Fund later this month as a result of dwindling funds under management.
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