ASIC’s review of exchange traded products identifies areas for improvement

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ASIC has completed a review of the exchange traded products (ETP) market in Australia, including exchange traded funds, aimed at ensuring the market is delivering on promises to investors. The... Read more continue reading

ASIC updates guidance for funds management industry

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ASIC has released a suite of seven new and updated regulatory guides to provide comprehensive guidance to the funds management industry. The guidance has been updated for changes arising from the... Read more continue reading

ASIC approves the Banking Code of Practice

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ASIC has approved the Australian Banking Association’s (ABA’s) new Banking Code of Practice (the Code). ASIC’s approval of the Code follows extensive engagement with the ABA, following a comprehensive independent... Read more continue reading

Industry funding: next steps for industry

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Organisations that are regulated by ASIC need to complete their business activity statements before Thursday, 27 September 2018 under the Federal Government’s industry funding arrangements. Industry funding commenced on 1... Read more continue reading

External report on fees and costs disclosure welcomed by ASIC

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The Australian Securities and Investments Commission (ASIC) has released the external report into Regulatory Guide 97 Fees and costs disclosure (RG 97) commissioned in November 2017. The report, prepared by expert Darren... Read more continue reading

FINSIA calls for recognition of experience and previous qualifications in education review

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A survey by FINSIA, the Financial Services Institute of Australasia, reveals that more than half the country’s financial advisers may leave the industry if a proposed education pathway fails acknowledge... Read more continue reading

FASEA issues draft Financial Adviser Examination guidance

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The Standards Authority has released proposed guidance on the Financial Adviser Examination. The examination is an essential component of the educational qualifications that all advisers will need to pass before... Read more continue reading

New prices for ASIC regulatory services

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The fees ASIC charges for specific regulatory activities have changed to reflect the actual cost to ASIC associated with the work. In most cases this has resulted in a fee... Read more continue reading

ASIC requires compliance with restrictions on use of ‘independent’

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ASIC is continuing to monitor the financial advice industry’s use of restricted terms ‘independent’ and ‘independently owned’, taking steps to intervene when it identifies concerns. Following surveillance of industry websites,... Read more continue reading

SMSF advice needs significant improvement

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Around 90% of financial advice on setting up a self-managed super fund (SMSF) did not comply with relevant laws, a review by the Australian Securities and Investments Commission (ASIC) has... Read more continue reading