ASIC concerns prompt MyRate to change website

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MyRate Pty Ltd (MyRate) has made changes to its website and will contact affected customers following ASIC concerns that home loan interest rates advertised on the website were likely to

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ASIC issues further super reforms guidance

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ASIC has issued further guidance to assist industry with superannuation reforms, as well as a consultation paper about keeping superannuation websites up to date. Guidance The guidance relates to the

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ASIC updates disclosure guidance for shorter PDSs

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After full commencement of the shorter Product Disclosure Statement (PDS) regime in June 2012, ASIC has reviewed a sample of shorter PDSs for superannuation and simple managed investment schemes. Our

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ASIC’s next generation market surveillance system commences

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ASIC’s new market surveillance system is in operation. Known as MAI (Market Analysis Intelligence), the system enables ASIC to better detect, investigate and prosecute trading breaches. Commissioner Cathie Armour said

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SPAA welcomes ASIC aim to improve standard of advice

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The SMSF Professionals’ Association of Australia (SPAA) has welcomed ASIC’s goal to improve the standard of advice given to prospective SMSF trustees. Outlining SPAA’s stance on advisor training and education

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SPAA submission to ASIC takes issue on SMSF costs

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The SMSF Professionals’ Association of Australia (SPAA) has questioned the cost findings of the actuarial firm Rice Warner in its submission to ASIC on Consultation Paper CP216. The SPAA submission,

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ASIC speeding up licensee complaints process

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Recent changes to Regulatory Guide 165 (RG165) mean Australian Financial Services Licensees (AFSL)s must now acknowledge client complaints immediately, regardless of the form in which they are given, and resolve

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Sydney adviser removed from financial services

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ASIC has accepted an enforceable undertaking (EU) from Sydney financial adviser Gabriel Nakhl which permanently prevents him from providing financial services. As part of the EU, Mr Nakhl has also

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AMP Subordinated Notes 2 offer opens

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AMP Limited’s Subordinated Notes 2 (AMP Notes 2) offer opened last friday for eligible AMP Notes holders and securityholders. As announced earlier this week, the size of the offer has

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FPA recommends improved regulatory measures for ASIC in Senate inquiry submission

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In a submission to the Senate Economics Committee inquiry into the performance of ASIC, the FPA has recommended several measures to improve the efficacy of the regulatory body. Some of

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