ASIC acts to improve transparency of super websites

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ASIC has intervened in relation to 21 superannuation trustees, representing 15 per cent of the trustee population, to improve ‘Transparency Information’ (TI) on their super fund websites. Under s29QB of

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ASIC releases superannuation member experience report

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ASIC has released a report about our review of key aspects of consumer engagement with their super funds, focusing on the experience of less-engaged superannuation fund members. The review sets

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ASIC clarifies its position on the use of ‘independently owned’

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ASIC has clarified its position on the use of restricted terms relating to the independence of financial advisers after seeking external legal advice on whether phrases such as ‘independently owned’

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ASIC releases instrument setting the commission caps and clawback amounts as part of the life insurance advice reforms

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ASIC has made ASIC Corporations (Life Insurance Commissions) Instrument 2017/510 (Life Insurance Commissions Instrument), as part of the life insurance reform package which was announced by the Government on 6

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ASIC consults on new example Statement of Advice for life insurance

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ASIC has released a consultation paper on a new example Statement of Advice (SOA) for life insurance. Consultation Paper 284 Example Statement of Advice for life insurance: Update to RG

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ASIC warns consumers about investment scams

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During Consumer Fraud Week 2017, ASIC is reminding consumers to protect themselves against investment scams. ASIC Deputy Chairman Peter Kell said, ‘The Targeting Scams report published yesterday by the Australian Competition and

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Consumers warned about investment scams promising to assist access to trust funds

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ASIC urges the public to be wary of cold callers claiming that their investment proceeds have been stopped by ASIC and are being held for them in a trust. These

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ASIC releases further report on emerging market issuers

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ASIC published Report 521 Further review of emerging market issuers (REP 521) yesterday, which discusses ASIC’s views on emerging market issuer activity and highlights how ASIC has responded to the key

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ASIC cancels suspended Australian Financial Services licence for failing to lodge annual statements

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ASIC has cancelled the Australian Financial Services (AFS) licence of Parramatta-based company Rural & General Insurance Broking Pty Limited (RGIB) for failing to comply with their legal obligations and licence

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ASIC establishes Financial Advisers Consultative Committee

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ASIC yesterday announced the establishment of the Financial Advisers Consultative Committee, designed to improve industry engagement with its regulator, and revealed its initial membership. ‘ASIC has extensive engagement with participants

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