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…
Regulatory & Government
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…
International accounting standards – be prepared!
28 October 2003
Tired of thinking about the FSRA…?
ASIC makes new PDS rules
28 October 2003
A new class order declaration relating to the preparation of a product disclosure statement by multiple issuers has been issued by ASIC…
Campbell reshuffle interrupts high stakes game
30 September 2003
The Cabinet reshuffle announced yesterday by Prime Minister John Howard will cause some inevitable difficulties for the insurance industry…
Liquidator appointed to unlicensed broker
30 September 2003
ASIC has obtained orders in the Supreme Court of NSW appointing a liquidator to C&A Richards, the company which operates Lennox Heads-based Insurance Made Easy…
Alternative to satisfy licensing cashflow requirements
30 September 2003
ASIC has introduced an alternative for entities within a corporate group to satisfy the cash needs requirement under Policy Statement 166…
30% of AFSL applications are ‘very poor’
23 September 2003
ASIC has just processed its 1000th Australian financial services licence, but of the 30-40% of companies applying for full licences, around 30% been rejected on the grounds…