ASIC releases its third licensing activity report

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ASIC yesterday published its third report on its approach to licence applications. Report 478 Overview of licensing and professional registration applications: July to December 2015 (REP 478) sets out recent regulatory outcomes

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ASIC targets financial services licensees using the term “independent”

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Wilson HTM Ltd (Wilson), iSelect Life Pty Ltd (iSelect) and Citywide Insurance Brokers and Financial Planners Pty Ltd (Citywide) have taken steps to remove or amend claims made about the

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ASIC finds professional indemnity insurance for financial advisers stable and available but gaps exist

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The market for professional indemnity (PI) insurance in Australia for financial advisers is stable and generally available, but gaps exist between what ASIC expects and some of the insurance products

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ASIC releases second licensing activity report and announces licensing liaison meetings

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ASIC yesterday published its second report on its approach to licence applications. Report 448 Overview of licensing and professional registration applications: January to June 2015 (REP 448) sets out recent regulatory

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Applying for a limited AFS licence – the time to act is now

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Currently accountants are allowed to provide limited advice on self-managed superannuation funds (SMSFs) without the need for an Australian financial services (AFS) licence. ASIC is reminding those accountants without an

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ASIC releases guidance on SMSF advice

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ASIC has released two information sheets to improve the quality of advice provided by advisers on self-managed superannuation funds (SMSFs). The information sheets are Information Sheet 205 Advice on self-managed

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ASIC to give guidance on review and remediation in the financial advice industry

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ASIC will develop a regulatory guide on review and remediation programs conducted by Australian financial services licensees that provide financial advice. Over the last few years ASIC has negotiated a

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ASIC ensures QBE meets expected outsourcing standards for dispute resolution

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QBE Insurance (Australia) Limited (QBE) will make changes to its outsourcing of escalated complaints and dispute resolution after ASIC raised concerns about the manner in which it had outsourced complaint

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Licensee Breaches: When in doubt, report

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The Australian Securities and Investments Commission (ASIC) is reminding Australian Financial Services (AFS) licensees that significant or likely breaches of their obligations must be notified within 10 days. Managing Director

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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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