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Regulatory

ASIC permanently bans former finance broker

HARRY PAGE  |  THURSDAY, 10 JUL 2014
The Australian Securities and Investments Commission (ASIC) has permanently banned former Victorian finance broker Rudy Frugtniet after he provided misleading information and lacked full disclosure on a credit licence application.

Labor questions Murray, calls for another inquiry

LAURA MILLAN  |  WEDNESDAY, 9 JUL 2014
The opposition has called for a further parliamentary inquiry into the Australian Securities and Investment Commission and the Commonwealth Bank and branded the government's plans to examine financial advice scandals as part of the Financial System Inquiry ...

ASIC warns fund managers to fix fee disclosure

MARK SMITH  |  TUESDAY, 8 JUL 2014
The Australian Securities and Investments Commission (ASIC) has warned fund managers to get their act together to avoid inconsistent or false disclosure of fees to investors.

Macquarie rebukes advice, compliance concerns

LAURA MILLAN  |  TUESDAY, 8 JUL 2014
Macquarie has issued its first public statement since a Senate Economics Committee report flagged "systemic failings of compliance" within its advice business two weeks ago.

Government still mulling response on Senate report

LAURA MILLAN AND AAP  |  THURSDAY, 3 JUL 2014
The government will monitor the implementation of Commonwealth Bank's (CBA) Open Advice Review program announced today while it works on its response to the Senate Economics Committee report.

ASIC jails AMP former adviser

HARRY PAGE  |  THURSDAY, 3 JUL 2014
A former authorised representative of AMP Financial Planning has been jailed for 13 years after being convicted for 181 counts of theft.

Trio-linked fund manager jailed for 25 months

JAMES FERNYHOUGH  |  MONDAY, 30 JUN 2014
An investment manager with links to Trio Capital has been sentenced to 25 months in prison for making false statements while managing the ARP Growth Fund (ARP).

ASIC changes depend on the government: Medcraft

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
Changes to the Australian Securities and Investments Committee (ASIC) depend on the level of resilience that the government wants from the financial services regulator, ASIC chairman Greg Medcraft said.

Government plays down support for royal commission

JAMES FERNYHOUGH  |  FRIDAY, 27 JUN 2014
Initial comments from the government suggest it may be unwilling to consider the Senate Committee's recommendation that there be a royal commission into Commonwealth Bank of Australia (CBA).

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
The Senate Economics Committee has recommended that the government establish an independent judicial inquiry or a Royal Commission to examine the cases of adviser misconduct within the Commonwealth Bank (CBA) financial planning businesses.