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ASIC

ASIC_regulator

ASIC bans former AMP Financial Planning representative from providing financial services for eight years

18/11/2016(0)
ASIC has banned Mr James Edward McCarthy, a financial adviser from South Australia, from providing financial services until 14 November 2024. Mr McCarthy is the sole director of McCarthy ... Read More
ASIC_regulator

CommSec pays $200,000 in infringement notice penalty

16/11/2016(0)
Commonwealth Securities Limited (“CommSec”) has paid a penalty of $200,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (“MDP”). The MDP had reasonable grounds ... Read More
ASIC_regulator

Former financial adviser has been sentenced to seven years imprisonment

15/11/2016(0)
Former financial adviser, Mr Darren John Wise, has been sentenced in the Maroochydore District Court to seven years imprisonment on charges brought by ASIC. Mr Wise will be eligible ... Read More
ASIC_regulator

Financial adviser banned for price manipulation of MINI warrants issued by Credit Suisse

10/11/2016(0)
On 8 September 2016, ASIC banned Michael Spencer, formerly a financial adviser, from providing financial services for three years. ASIC found that Mr Spencer engaged in manipulation of the ... Read More
ASIC_regulator

Cash Converters to pay over $12M following ASIC probe

09/11/2016(0)
Following an ASIC investigation, payday lender Cash Converters will refund $10.8 million to consumers who received small amount loans under approximately 118,000 small amount credit contracts. Cash Converters has ... Read More
ASIC_regulator

ASIC welcomes ‘client money’ reforms

08/11/2016(0)
ASIC today welcomed the Government’s decision to proceed with ‘client money’ reforms in respect of retail OTC derivatives. ‘The reforms to the client money regime will strengthen protection of ... Read More
ASIC_regulator

ASIC announced no debit fees for payday loans

04/11/2016(0)
Following an independent review of payday lending laws, ASIC has taken steps to ensure consumers are not charged direct debit fees when taking out a small amount loan. This ... Read More
ASIC_regulator

ASIC and Ontario Securities Commission sign agreement to support fintech companies

03/11/2016(0)
Innovative fintech companies in Australia and Ontario, Canada will be able to draw on support from the combined resources of their financial regulators as they seek to operate in the ... Read More
ASIC_regulator

ASIC suspends AFS licence for failing to lodge financial statements

01/11/2016(0)
ASIC suspended the Australian financial services (AFS) licence of Parramatta-based Rural & General Insurance Broking Pty Limited (RGIB) for failing to lodge financial statements, auditor’s reports and auditor’s opinions ... Read More
ASIC_regulator

ASIC permanently bans former financial adviser

31/10/2016(0)
ASIC has permanently banned former NSW financial adviser Mr Ashley Grant Howard from providing financial services after an investigation found he had: engaged in dishonest conduct; held out that ... Read More
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