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Regulatory

PDS should reflect PYSP changes: ASIC

KARREN VERGARA  |  MONDAY, 24 JUN 2019
ASIC is reminding superannuation funds to update product disclosure statements to disclose exit fees will no longer be charged under the 1 July 2019 changes.

Wealth management investigations spike

KANIKA SOOD  |  FRIDAY, 21 JUN 2019
The corporate regulator's wealth management investigations increased 129% in the year to March 2019, ASIC commissioner John Price said yesterday.

Record number of tax evasion reports

ELIZABETH MCARTHUR  |  FRIDAY, 21 JUN 2019
The Australian Taxation Office revealed its tip off line has been ringing off the hook this end of financial year as a record number of people report tax evaders.

Culture isn't everything: ASIC

HARRISON WORLEY  |  WEDNESDAY, 19 JUN 2019
ASIC commissioner John Price has warned a "strong culture" might not stand resolute in the face of remuneration incentives.

ASIC approves AFCA rules change

ELIZABETH MCARTHUR  |  TUESDAY, 18 JUN 2019
ASIC has approved changes to the Australian Financial Complaints Authority rules for legacy complaints.

AUSTRAC zeroes in on Afterpay

HARRISON WORLEY  |  MONDAY, 17 JUN 2019
Tech-darling Afterpay is feeling the regulatory heat after AUSTRAC ordered an audit of the fintech's compliance with Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) laws.

New AFCA remit not enough: Law firm

KANIKA SOOD  |  MONDAY, 17 JUN 2019
A law firm has approached the Treasury with concerns the reforms made to the Australian Financial Complaints Authority after the Royal Commission are flawed and need urgent amendment.

ANZ cleared of $50m fee bungle

KANIKA SOOD  |  FRIDAY, 14 JUN 2019
ASIC has cleared ANZ of the $50 million fee-for-no-service misconduct connected to its Prime Access offering.

Commonwealth FP completes EU compliance

ELIZABETH MCARTHUR  |  WEDNESDAY, 12 JUN 2019
Commonwealth Financial Planning has complied with ASIC's court enforceable undertaking regarding fees for no service conduct and said it will transition to a new business model.

Law Council chides ASIC

HARRISON WORLEY  |  TUESDAY, 11 JUN 2019
The Law Council of Australia has scolded ASIC, after deputy chair Daniel Crennan warned the financial services industry not to waste the regulator's time.