Scammers turn up the heat on Australian investors

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During National Scams Awareness Week (21 – 25 May), ASIC is warning investors to be on high alert to investment scams. Figures released today from the ACCC’s Targeting Scams Report show

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22 May 2018

ASIC reports on how large financial institutions manage conflicts of interest in financial advice

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An Australian Securities and Investments Commission (ASIC) review of financial advice provided by the five biggest vertically integrated financial institutions has identified areas where improvements are needed to the management

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25 Jan 2018

ASIC releases new example Statement of Advice for life insurance

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ASIC has released a new example Statement of Advice (SOA) for life insurance as part of updates to Regulatory Guide 90 Example Statement of Advice: Scaled advice for a new client (RG 90).

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08 Dec 2017

ASIC overview of licensing and professional registration – July 2016 to June 2017

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ASIC has reported on its approach to and assessment of licence applications and professional registrations for the period July 2016 to June 2017. Report 553 Overview of licensing and professional registration applications:

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04 Dec 2017

ASIC confirms restricted use of ‘independently owned’ in financial services

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ASIC has updated regulatory guidance to confirm restrictions, that were announced in June 2017, on the use of terminology that implies independence. ASIC has updated Regulatory Guide 175 Licensing: Financial product advisers –

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15 Nov 2017

Citibank refunds $3.3 million to credit card customers

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Citibank will refund more than $3.3 million to around 39,500 current and former customers for failing to refund customers when credit card accounts were closed with an outstanding credit balance.

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10 Nov 2017

ASIC committed to improving the financial capabilities of Australians

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The National Financial Literacy Strategy sets out a plan to strengthen the financial capabilities of all Australians with the aim of improving financial outcomes. A key feature of the National

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17 Oct 2017

ASIC update on interest-only home loans

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ASIC has provided an update on its targeted review of interest only home loans. Announced in April 2017, the review was a targeted industry surveillance examining whether lenders and mortgage

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12 Oct 2017

World Investor Week: ASIC’s MoneySmart golden rules to investing

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To mark World Investor Week (2 – 8 October 2017), ASIC is reminding investors to work out their financial goals and develop an investment plan before committing to an investment. ‘Smart investors don’t rely

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04 Oct 2017

ASIC commits to new Action Plan delivering better outcomes for Indigenous Australians

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Consumer issues including car sales, credit and consumer leases headline some of the key priority areas in the National Indigenous Consumer Strategy (NICS) Action Plan 2017–2019. The three year plan

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29 Sep 2017