FSRA: one day to go, with 1400 missing
09 March 2004
With the industry poised to enter the Financial Services Reform Act regime on Thursday, ASIC has processed only about 3600 of the 5000 Australian financial services licences…
Regulatory & Government
Broker agrees to injunctions
09 March 2004
Brisbane broker Denis Davis has consented in the Federal Court to permanent injunctions over his involvement in a scheme promoting the illegal early release of superannuation benefits…
FSRA paperwork: a ministerial view
24 February 2004
Perhaps Ross Cameron, the Parliamentary Secretary to the Treasurer, hasn’t seen what the FSRA regulations require of financial services intermediaries when it comes to paperwork…
ASIC to assist industry post-FSRA
24 February 2004
ASIC thinks the FSRA has been appropriately amended where there were grey areas…
ASIC cuts FSR licensing re-printing costs
24 February 2004
ASIC has moved to protect the forests and keep printers from getting too rich by allowing companies which printed Product Disclosure Statements…
Former SA planner charged
17 February 2004
Former Adelaide financial planner Michael Smith has been charged with fraudulently converting customers’ cheques for his own benefit…
The story of one who missed out
10 February 2004
For businesses wanting to provide any kind of financial advice after March 10 this year, ASIC’s message last year was unequivocal…
AFS e-licensing changes
10 February 2004
ASIC will release version 5 of e-licensing for Australian financial services licences when the FSR transition period ends on March 10…
900+ AFSL applications still to come
03 February 2004
With only just over a month to comply, more than 900 businesses have still to submit applications for their Australian financial services licence to ASIC…
Former SA broker charged
03 February 2004
Desmond Allomes, a former South Australia-based director of AC Insurance Brokers, has been charged with three offences under the Insurance (Agents & Brokers) Act…
New enforcer for ASIC
03 February 2004
ASIC has appointed Jan Redfern as Executive Director Enforcement following the retirement of Peter Wood…
You’ve got until tomorrow, then you’re on your own
09 December 2003
Next to the March 11 2004 implementation date, December 10 2003 has a certain ring about it if you’re participating in the Financial Services Reform Act’s licensing process…
Hurry up! ASIC’s latest AFSL concern
25 November 2003
After months of saying there’s still time for businesses to apply for their Australian financial services licences (AFSL), ASIC has finally announced that time is running out…
Expensive computer error for Tower
25 November 2003
Tower Australia has provided undertakings to ASIC regarding investments in its FAI Personal Superannuation Plan after a review found investors may have received faulty information…
5000 AFSL laggards, but no worries – yet
18 November 2003
Most of the big insurers and financial services companies have obtained their Australian financial services licences, but about 5000 of the expected 8000 applications…
Former AMP agent jailed
18 November 2003
A former Sydney-based AMP agent has been jailed for two years and 10 months for collecting clients’ super payments without passing them on to the relevant funds…
ASIC flexes its muscles
11 November 2003
Like fellow regulator APRA, ASIC is taking a much harder line on compliance…
Lawyers get action over FSRA
11 November 2003
One thing’s for certain…
We won’t relax, says APRA chief
04 November 2003
The economy might be booming, but new APRA Chairman John Laker has warned that the economic upturn won’t see the prudential regulator relaxing…
ASIC keeps the advice (and changes) flowing
28 October 2003
Version 4 of ASIC’s eLicensing system, together with an updated version of the AFS licensing kit, have been released by the regulator…