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ASIC to investigate ASX over possible Corps Act breaches in failed CHESS upgrade

The hits keep coming for the country's primary stock exchange, which is now under investigation by the corporate regulator for its oversight of the doomed...

Tools needed so advisers can tackle greenwashing challenge

As potential clients become more discerning, advisers must have a framework through which to consider investments for inclusion in portfolios, but also to...

'Somewhat bemused': Advice review lead, industry push for the adoption of proposals

Michelle Levy said she was 'puzzled' by the government's decision to conduct a consultation on the proposals handed down in the advice review, while industry...

FPA and AFA members vote an overwhelming 'yes' to merger proposal

After years of declining membership bases and growing frustration with disparate representation, 96.5 per cent of AFA members and 96.7 per cent of FPA members...

ASIC warns directors to up business risk disclosure in annual reports

The regulator's financial reporting surveillance program has turned up numerous companies failing to make required risk disclosures in financial reports, as it...

New best interests duty to cover broader swathe of advice service providers

In Levy's new world, conflicts and vertical integration are likely to be accommodated by a new statutory best interests duty with a broader scope and a lower,...

Safe harbour steps to go as Levy sticks (mostly) to the advice reform script

Levy made no major deviations in her final suite of proposals, with Treasury left to mull on a blueprint for reform that should usher in a less prescriptive,...

Ex-heads of advice associations line up to plump for merger

The old guard of advice representation has implored the combined membership groups of the AFA and FPA to vote 'yes' in the upcoming merger vote.

'No compromises': Levy details advice review mindset

"I don't think anyone told me that things are going well," said Michelle Levy of the advice review consultation process. Despite being given disparate views on...

'Easy wins' not enough for QOAR: Joint advice association group

In a letter released by the group Thursday it said "urgent action is needed", and called the government's impending response a "rare opportunity to deliver...

With DDO stop orders, ASIC steps up marketing scrutiny

The corporate regulator reports it has issued 21 stop orders against companies over marketing of financial products since new design and distribution...