ASIC and European Union authorities cooperate on alternative investment funds

From

  ASIC has entered into 29 supervisory cooperation arrangements with European Union (EU) securities regulators, agreeing to help each other supervise fund managers operating across borders. The cooperation is crucial

continue reading
22 Jul 2013

ASIC intervenes in LM fund proceedings to end uncertainty

From

ASIC has finished making its submissions in a court hearing to decide the future of the multi-million LM First Mortgage Income Fund (FMIF). The proceedings were started by two investors

continue reading
19 Jul 2013

Professional Investment Services enters into monitoring program

From

An independent expert will monitor for 9 months the way Professional Investment Services Pty Ltd (PIS) gives financial advice to ensure that its advice processes meet the standards set out

continue reading
18 Jul 2013

Credit Suisse Equities (Australia) Limited pays $95,000 infringement notice penalty

From

Credit Suisse Equities (Australia) Limited (“Credit Suisse”) has paid a penalty of $95,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (“MDP”). The penalty

continue reading
15 Jul 2013

ASIC announces surveillance on analyst briefings

From

ASIC has announced that this reporting season it will be focusing on communications between companies and the investment analysts that cover their stock. ‘ASIC’s priority is to ensure fair and

continue reading
09 Jul 2013

ASIC releases follow-up term deposit report

From

ASIC last week released a report that highlights improved industry practice and better outcomes for investors in relation to the automatic rollover of term deposits. The report reveals that consumer

continue reading
08 Jul 2013

Stronger Super is here

From

On 1 July 2013, ASIC welcomed key Stronger Super reforms intended to make the Australian superannuation system stronger and more efficient, and to help maximise superannuant retirement income. ASIC has

continue reading
05 Jul 2013

BT to refund customers after review of fees disclosed and charged

From

BT Financial Group (BT) will refund customers after it discovered that some of its Wrap and SuperWrap customers have been paying adviser fees in excess of disclosed percentage ranges. In

continue reading
03 Jul 2013

New ASIC guidance for platforms a boost for investors

From

ASIC has moved to require investment platform operators to explain how they choose the different products on offer to investors through their platforms. The strengthened disclosure requirements are part of

continue reading
01 Jul 2013

ASIC acts to improve consumer understanding of funeral insurance

From

ASIC was concerned that in HFS’s advertising dealing with the price of the product:  there was insufficient information about premium increases some qualifications regarding price were inadequate This included, in

continue reading
28 Jun 2013