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Regulatory

ASIC issues permanent ban for theft

JAMIE WILLIAMSON  |  THURSDAY, 9 AUG 2018
An insurance broker who stole from clients has been permanently banned from providing financial services.

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
Financial institutions outside the big four banks and AMP have been integrated into ASIC's fees for no service remediation programs, with total provisions likely to exceed $850 million.

Former NULIS chair faces Royal Commission

KANIKA SOOD  |  TUESDAY, 7 AUG 2018
The former chair of NAB's superannuation entities has denied MLC tried to bill other services in order to claim advice fees.

ASIC staff to investigate institutions from the inside

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
The corporate regulator will be gifted enhanced enforcement powers via funding from the Federal Government, a sizeable chunk of which will be used to embed staff within the big four banks and AMP.

One measure not enough to revoke MySuper: APRA

HARRISON WORLEY  |  MONDAY, 6 AUG 2018
The prudential regulator cautioned against the use of a sole measure to determine whether an underperforming superannuation fund should retain MySuper authorisation.

ASIC identifies potential risks in ETP market

KANIKA SOOD  |  FRIDAY, 3 AUG 2018
ASIC has identified three potential risks in the $40 billion market for exchange-traded products, following a review triggered by SMSFs and retail investors' growing investment in the vehicles.

Royal Commission work impeded: Hayne

DARREN SNYDER  |  THURSDAY, 2 AUG 2018
Commissioner Kenneth Hayne has publicly recorded delays in accessing documents from IOOF ahead of the fifth round of the financial services Royal Commission, beginning August 6.

ASIC provides guidance on Asia Funds Passport

KARREN VERGARA  |  WEDNESDAY, 1 AUG 2018
ASIC has updated its regulatory guides to reflect changes from the Asia Region Funds Passport bill that was recently passed.

Industry bodies respond to RG97 review

KARREN VERGARA  |  THURSDAY, 26 JUL 2018
Several industry bodies have welcomed the recommendations aiming to overhaul fee and cost disclosure practices of superannuation funds and managed investments under Regulatory Guide 97.

Banks take 1500 days to identify breaches: ASIC

KANIKA SOOD  |  THURSDAY, 26 JUL 2018
Big banking groups are taking an average of 1500 days to internally identify breaches in conduct, ASIC chair James Shipton said in his address at the FSC Summit in Melbourne today.