ASIC proposes to cut red tape and encourage more electronic disclosure

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ASIC is seeking feedback on proposals to make it easier for businesses to deliver financial services disclosures electronically while preserving choice for consumers. Our proposals also encourage the use of

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Improving the small business environment: ASBC and ASIC meet with professional organisations in North Queensland

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Australian Small Business Commissioner (ASBC), Mark Brennan, and ASIC Regional Commissioner – Queensland, Brett Bassett, recognise the important role regional businesses play in the Australian economy. Earlier this week, Mark

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ASIC releases its submission to the 2014 Senate inquiry into forestry managed investment schemes

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ASIC has released its submission to the 2014 Senate inquiry into forestry managed investment schemes. The submission sets out: ASIC’s role in relation to the regulation of forestry managed investment

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Higher standards needed for life insurance industry

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An ASIC review of life insurance advice has found that the industry needs to improve the quality of advice and ensure that the interests of consumers are given priority. ASIC’s

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ASIC and AFSA announce refreshed memorandum of understanding

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Australian Financial Security Authority’s Chief Executive Veronique Ingram and Commissioner John Price of the Australian Securities and Investments Commission (ASIC) have announced the release of a new Memorandum of Understanding

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ASIC update on financial advice stakeholder engagement

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ASIC yesterday reported on the results of two financial advice industry engagement projects conducted during the 2013–14 financial year. This work included meetings with representatives of 95 Australian financial services (AFS)

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Sharing the secrets of successful savers

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An online poll conducted by ASIC’s MoneySmart has revealed the top five techniques used by successful savers.[1] Of those who are confident of achieving their savings goals: 78% say they

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ASIC’s statement on wholesale and retail investors and SMSFs

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ASIC has clarified how it will apply the wholesale investor test to self-managed superannuation funds (SMSFs). This has been an area of ongoing legal uncertainty. The recent Senate Economics References

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ASIC releases report on regulating complex products

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With financial products and markets continually growing in complexity, ASIC has reviewed its approach to regulating complex products. Last Friday ASIC has published Report 384 Regulating complex products (REP 384)

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New regulation of financial advisers providing tax advice

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From 1 July 2014, the Tax Practitioners Board (TPB) regulates financial advisers who provide tax (financial) advice services under the Tax Agent Services Act 2009 (Cth) (TASA). Until now, financial

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