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|ASIC has issued a strongly worded warning to those trying to profit from the COVID-19 induced market volatility who are not investment professionals.|
|ASIC has cancelled the AFSL of Olive Financial Markets following concerns that it had not complied with its obligations as an AFS licensee and that it was likely to contravene its obligations in the future.|
|ASIC has permanently banned an ACT financial adviser over dodgy SMSF advice, and banned another from NSW for three years for failing to consider clients' best interests.|
|ASIC has revealed it adviser bans dropped by more than half in the second half of 2019, from 103 to 48.|
|Australia has received a below average grade from Morningstar for the regulatory and tax frameworks that its managed funds face.|
|ASIC has called on insurers to introduce flexible options, such as premium deferrals or reductions, to assist consumers during the COVID-19 pandemic.|
|The Federal Court of Australia has ordered two financial services companies to be wound up, with McGrathNicol appointed as the liquidator of both firms.|
|The Australian Securities Exchange announced changes to the temporary lift in placement capacity from 15% to 25% and increased transparency rules.|
|The corporate watchdog has disqualified, suspended and added additional conditions to six different self-managed super fund auditors as it works to ensure the industry meets competency and expertise standards.|
|The suspension of MyPlanner Professional Services' AFSL is on ice as the Administrative Appeals Tribunal reviews ASIC's decision.|
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
BetaShares' ETF that tracks crude oil futures is once again changing the length of contracts it tracks and is taking extra measures to automatically convert the ETF to all cash if oil futures drop significantly again.
The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
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