Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Regulatory

ASIC slaps MWL adviser with ban over Shield involvement

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
ASIC has banned Wade Spooner of Melbourne for eight years for advising his clients to invest their superannuation into the Shield Master Fund while he was an authorised representative of MWL Financial Services.

ASIC issues interim stop orders to TruePillars

RIDDHIMA TALWANI  |  TUESDAY, 21 OCT 2025
ASIC has told private credit manager TruePillars to halt distribution of its product disclosure statements (PDSs) for two offerings.

Super risks continue as advice gets all clear

ELIZA BAVIN  |  FRIDAY, 17 OCT 2025
AFCA has released its systemic risk report, citing ongoing problems in the superannuation sector but said there were no systemic risks in the investments and advice space.

Federal Court dismisses Freedom Insurance staff allegations

KARREN VERGARA  |  FRIDAY, 17 OCT 2025
The Federal Court has dismissed ASIC's claims that a former Freedom Insurance director and staff member were engaged in shocking and harmful sales tactics.

ASX announces changes following independent review

ELIZA BAVIN  |  FRIDAY, 17 OCT 2025
The ASX will establish a new advisory board, with a recommendation that a "significant super fund chair or chief executive" be appointed.

APRA lifts final Westpac capital add-on

KARREN VERGARA  |  WEDNESDAY, 15 OCT 2025
APRA has lifted Westpac's remaining $500 million capital add-on after the bank completed its multi-year risk transformation program spurred by several breaches and misconduct.

ASIC targets funds over 'disappointing' retiree communications

ELIZA BAVIN  |  TUESDAY, 14 OCT 2025
The regulator said funds are too focused on product promotion and member retention and demonstrate a lack of urgency in improving retirement communications.

ASIC exposes holes in managed funds' offshoring cyber controls

KARREN VERGARA  |  MONDAY, 13 OCT 2025
Responsible entities (REs) of managed funds lack robust risk management practices when it comes to the cyber and security risks relating to services they offshore, according to ASIC.

ASIC seeks compensation for Shield victims from EQT

ELIZA BAVIN  |  MONDAY, 13 OCT 2025
Equity Trustees said it will continue to defend itself in the proceedings and is considering seeking orders forcing other parties involved to compensate victims' losses.

ASIC helping with law reform over Shield, First Guardian

ELIZA BAVIN  |  FRIDAY, 10 OCT 2025
The corporate regulator said it was working closely with the government and Treasury towards law reform to protect consumers in the wake of the Shield and First Guardian collapses.