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Showing 121 - 130 of 704 results for "Corporations Act"

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... law will create additional penalties and sanctions for advisers who have breached their obligations under the Corporations Act. A two-stage registration system will take effect next year. Stage one, which takes effect after 1 January 2022, will see advisers ...

Virtual company meetings to stay

ANNABELLE DICKSON  |  FRIDAY, 25 JUN 2021
... introduced draft exposure legislation that will allow companies to use technology in meetings while satisfying the Corporations Act 2001 requirements. These reforms make the temporary measures put in place during the COVID-19 pandemic permanent, where ...

ASIC fines trading firm

ANNABELLE DICKSON  |  WEDNESDAY, 23 JUN 2021
... Rules (Futures Markets) 2017, whereby a market participant ensures compliance with market integrity rules and the Corporations Act. The MDP found that Life Trading did not have appropriate supervisory policies and procedures from the time it became a ...

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA  |  FRIDAY, 18 JUN 2021
... 2018, the Hayne Royal Commission heard NAB and its two trustees, NULIS Nominees and MLC Nominees, breached the Corporations Act and Superannuation Industry Act with respect to plan service fees (PSF) and adviser service fees charged that rendered no ...

AAT dismisses adviser ban appeal

KARREN VERGARA  |  THURSDAY, 17 JUN 2021
... Hutchison did not engage in dishonest conduct or misleading or deceptive conduct based on its interpretations of the Corporations Act. ASIC then appealed the AAT's decision to the Federal Court on 13 July 2020. The Federal Court upheld ASIC's ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... circumstances, unconscionable," ASIC said. ASIC is seeking declarations of contraventions of the ASIC Act and Corporations Act, and is also seeking pecuniary penalties and other orders to be made by the court. AMP acknowledged the action and said it ...

ASIC cancels AFSLs

ANNABELLE DICKSON  |  TUESDAY, 25 MAY 2021
... Australian credit licence (ACL). Direct My Wealth also failed to maintain its membership with AFCA. "Under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, ASIC may suspend or cancel an AFSL and ACL if the licensee is no longer ...

ASIC takes action against Equiti

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
... is in liquidation - will see the corporate regulator in the Federal Court for several alleged breaches of the Corporations Act 2001. Between 26 October 2015 to 27 August 2018, ASIC alleges that Equiti FS paid three advisers bonuses worth $164,750 for ...

Super fund whistleblower policies lacking: ASIC

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
... element when explaining how potential whistleblowers can report their concerns and qualify for protection under the Corporations Act," she said. Press said ASIC has also observed that superannuation trustees in particular are not making their whistleblower ...

Long way for super complaints overhaul

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
... set out in RG 271 introduced last July. Under it, efficient complaints handling became an obligation under the Corporations Act. ASIC will also consider complaints on social media, objections to death benefit recipients and insurance claims handling ...