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Showing 11 - 20 of 576 results for "Lodge"

ATO cracks down on illegal early SMSF access

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... manner was "too great a temptation to resist," she said. When a newly established SMSF makes a rollover but doesn't lodge its first return is another red flag on the ATO's radar. "Currently, 16% of funds that were registered in 2022 have failed ...

ASIC files lawsuit against unlicensed director, companies

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
... level of risk associated with the Paladin Monetizer Fund; didn't keep proper financial records for the fund; and failed to lodge annual financial reports and the like to ASIC.

Crypto fintech needed AFSL, court says

JAMIE WILLIAMSON  |  MONDAY, 12 FEB 2024
ASIC has had its first court win in relation to cryptocurrency, with fintech Block Earner found to have offered a financial product to retail investors without a licence. However, it was a mixed outcome for the regulator, with another allegation quashed. ...

Brite Advisors to be wound up

CHLOE WALKER  |  WEDNESDAY, 7 FEB 2024
The Federal Court has ordered Brite Advisors (Brite) to be wound up on just and equitable grounds following an application by ASIC. At a hearing yesterday, the Court appointed Linda Smith and Robert Kirman of McGrath Nicol as liquidators to Brite and ...

AMP names new group insurer

KARREN VERGARA  |  MONDAY, 22 JAN 2024
AMP has named a new default insurance provider for its superannuation offering to replace Resolution Life. TAL is the new group insurer for AMP Super Fund, which includes its flagship product SignatureSuper. Commenting on the transition, AMP general ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... (Prospero). The penalty comes after the Forex and CFD trading platform, which services mainly Chinese-speaking clients, failed to lodge its annual financial statement and audit report for last financial year. Prospero's licence suspension means it cannot ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
The board of the Compensation Scheme of Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... said it is actively targeting breaches of financial reporting obligations as required by the Corporations Act. "Failure to lodge audited financial statements may result in cancellation of a licensee's Australian financial services (AFS) licence," ...

Federal Court freezes assets of pension platform

CASSANDRA BALDINI  |  MONDAY, 30 OCT 2023
... failure to submit required documentation, making its current financial position unclear. According to ASIC, Brite failed to lodge its statements and auditors report for the financial year ending 30 June 2022. Further, ASIC said the value of funds under ...