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Regulatory

2017 AGMs less tumultuous: ASIC

KARREN VERGARA  |  TUESDAY, 30 JAN 2018
The number of top 200 ASX-listed companies that received a strike against pay resolutions in 2017 has dropped, as shareholders increasingly become more engaged during proxy season, ASIC says.

ASIC's interpretation of best interest duty falls short: FSC

ALEX BURKE  |  THURSDAY, 25 JAN 2018
In responding to ASIC's report on adviser conflicts of interest in vertically-integrated institutions, the Financial Services Council suggested the regulator's interpretation of the appropriateness of advice could use some adjustments.

ASIC ramps up surveillance and remediation after adviser conflict report

KARREN VERGARA  |  THURSDAY, 25 JAN 2018
ASIC is ramping up its surveillance and remediation processes to help curb further adviser conflicts of interest within vertically integrated institutions.

Royal Commission begins in February

JAMIE WILLIAMSON  |  TUESDAY, 23 JAN 2018
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is calling for submissions ahead of its first hearing on Monday, 12 February 2018.

ASIC puts corner-cutting advisers on notice

JAMIE WILLIAMSON  |  MONDAY, 22 JAN 2018
ASIC is warning financial advice dealer groups about the consequences of failing to correctly witness binding death nominations for superannuation benefits.

IOSCO issues caution over ICOs

DARREN SNYDER  |  FRIDAY, 19 JAN 2018
The International Organisation of Securities Commissions warns Initial Coin Offerings (ICOs) have clear risks and are highly speculative investments.

Independent expert awaits bank remuneration guidelines

ALEX BURKE  |  FRIDAY, 19 JAN 2018
The independent governance expert appointed by the Australian Bankers' Association to review its consumer protection reforms, Ian McPhee, voiced his disappointment that not all participating banks have published their "overarching principles on remuneration ...

HLB Mann Judd revises AFSL

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2018
A division of financial services firm HLB Mann Judd can no longer provide independent expert advice under an agreement with ASIC.

ASIC cancels AFSL, accepts EU

DARREN SNYDER  |  TUESDAY, 16 JAN 2018
ASIC has accepted an enforceable undertaking from a Queensland financial planning business and cancelled its AFSL.

Offshore investment vehicles await passport arrival

KARREN VERGARA  |  TUESDAY, 16 JAN 2018
The Federal Government is close to re-drafting legislation to allow offshore investment vehicles to operate in and from Australia as early as June, Revenue and Financial Services Minister Kelly O'Dwyer says.