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Regulatory

ASIC needs tougher, direct powers: Taskforce

KARREN VERGARA  |  THURSDAY, 9 NOV 2017
ASIC should be given tougher intervention powers to direct how an Australian financial services licensee addresses or prevents compliance failures.

Former BBY adviser cops 10-year ban

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2017
A former BBY financial adviser has been banned for 10 years, while an ex-CBA adviser pleaded guilty to forging client documents, corporate regulator ASIC said.

O'Dwyer urges AFCA consultation

KARREN VERGARA  |  FRIDAY, 3 NOV 2017
The Revenue and Financial Services Minister today welcomed a consultation paper on the terms of reference, governance and funding arrangements for the Australian Financial Complaints Authority (AFCA).

ASIC reviews RG97 impact

KARREN VERGARA  |  THURSDAY, 2 NOV 2017
ASIC announced it will conduct an external review on the effects of the Regulatory Guide 97 fee disclosure reforms, and will again extend its previous September 30 compliance deadline.

S&P hit with historic court decision

ALEX BURKE  |  TUESDAY, 31 OCT 2017
Investors in a class action against S&P have secured a historic win in the Federal Court of Australia, which may have international ramifications for other potential cases against the ratings issuer.

Banks will step out of wealth: Medcraft

DARREN SNYDER  |  TUESDAY, 31 OCT 2017
Outgoing ASIC chair Greg Medcraft believes the big four banks will continue to sell wealth management arms because it's tough to restore the consumer trust repeatedly tarnished by these businesses.

RG97 reshaping multi-asset strategy: Zenith

ALEX BURKE  |  TUESDAY, 31 OCT 2017
Latest Zenith research argues that while RG97 was introduced to raise cost disclosure standards for investors, it's having a more significant and largely unnoticed long-term effect on investment strategy.

BEAR has 'teeth': Treasurer

KARREN VERGARA  |  MONDAY, 30 OCT 2017
Bank executives and directors who breach their obligations under the Banking Executive Accountability Regime will face much tougher penalties and consequences, Treasurer Scott Morrison warns.

Melbourne advice firm cops historic $1 million fine

JAMIE WILLIAMSON  |  MONDAY, 30 OCT 2017
A Melbourne-based financial advice firm is the first to be penalised for breaching the best interests duty, slapped with a $1 million fine by the Federal Court.

Forgery sees former NAB adviser sentenced

JAMIE WILLIAMSON  |  FRIDAY, 27 OCT 2017
A former NAB adviser pleaded guilty to two charges of forgery brought against him by ASIC.