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25 Feb 2015 (TheAge) – ASIC complex product clampdown embroils banks

(25 Feb 2015, The Age, BusinessDay, p23, Clancy Yeates and Joyce Moullakis)

‘Banks including the Commonwealth Bank, Westpac and National Australia Bank have been embroiled in a crackdown on complex financial products that has forced 10 advice businesses to take corrective action. Amid fresh political pressure on the financial planning sector, the Australian Securities and Investments Commission on Tuesday revealed 10 institutions it has been scrutinising as part of a campaign to improve advice on complex products marketed to retail investors.’


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