The Turnbull government is setting up a new body to lift the professional standards of financial advisers – an industry hit by numerous scandals in recent years. Minister for Financial Services Kelly O’Dwyer says all new advisers will need to … Read More
By pursuing recent high profile cases against Richard Kamay, Steven Xiao and Oliver Curtis, ASIC has shown that it will prosecute those who have engaged or been involved in insider trading. What does this mean for you and your business? … Read More
The introduction of two new types of collective investment vehicles (CIV) in the recently released federal budget is set to enhance the managed investment sector. CIVs allow investors to pool their funds directly and have them managed by a fund … Read More
Our new logo represents a new change and a revised public profile. The buzzard has been replaced by the eagle and our commencement date now appears proudly on our shield. These two changes signal the commencement of a new approach … Read More
ASIC targets financial services licensees using the term “independent” 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 independence … Read More
Following ASIC raising concerns, Urban Seed Project Marketing Pty Ltd (Urban Seed), Skybridge Portfolios (Skybridge) Pty Ltd and Tatnell DLS (Tatnell) Pty Ltd have taken steps to remove or amend potentially misleading representations about Self Managed Super Funds (SMSFs) in … Read More
Following concerns raised by ASIC, ACE Insurance Limited (ACE Insurance) and Tiger Airways Australia Pty Limited (Tigerair) have removed misleading promotional statements on their websites about ACE Insurance travel insurance policies. Separately, ACE Insurance has responded to ASIC’s concerns about … Read More
The Australian Securities and Investments Commission (ASIC) has always had the power under section 91 of the Australian Securities and Investments Commission Act (Cth) 2001 (“ASIC Act”) to recover the expenses and costs of an investigation if ASIC obtains a … Read More
OCM pays $30,600 penalty for misleading advertising 3RD November 2015, O.C.M. Online Capital Markets Pty Ltd (OCM) has paid $30,600 in penalties after ASIC issued three infringement notices for false or misleading online advertising. Each infringement notice imposed a penalty … Read More
ASIC is concerned that the following statements, which were made in Chinese, were misleading or deceptive or likely to mislead or deceive: 100% success rate pre-approvals within 15 minutes Melbourne’s largest Chinese mortgage broker; and matching of all banks’ interest rates. … Read More
