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Showing 21 - 30 of 3680 results for "Conduct"

Financial Conduct Authority cracks down on finfluencers, firms

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
The UK's Financial Conduct Authority (FCA) is cracking down on finfluencers as more financial services firms turn to social media to promote products and services. The financial services regulator is aiming to get on top of firms that illegally promote ...

ANZ to pay $57.5m to settle class action

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... consequences of not paying off the entirety of their closing balance. Phi Finney McDonald claimed ANZ engaged in "unconscionable conduct" causing loss and damage to ANZ credit card holders. "We believe the proposed settlement is an excellent outcome ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... other person. ASIC found that all those statements were misleading, and that Creigh had engaged in misleading or deceptive conduct. "The fact sheets contained information provided to Creigh by third parties associated with an entity calling itself Liquid ...

UK advisers told to review retirement advice processes

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
... retirement income advice, following a thematic review that found some "are not even getting the basics right." The Financial Conduct Authority (FCA) undertook the review to better understand how the retirement income advice market is functioning, whether ...

ASIC warns it can't take action on every case of misconduct

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... satisfy yourself that you are operating within the law," he said. "That is, you have the appropriate licences - and that you conduct your business in accordance with the regulatory obligations that apply at any point in time. "Where we see misconduct ...

Financial services class actions surge

JAMIE WILLIAMSON  |  WEDNESDAY, 20 MAR 2024
... 2021. Interestingly, in 2023 there were no class actions filed against a major bank. Instead, they covered superannuation, conduct in selling complex financial products, shareholder class actions, and data breaches. On 22 December 2023, a class action ...

ASIC bans Queensland financial adviser

ELIZA BAVIN  |  WEDNESDAY, 20 MAR 2024
... superannuation fund (SMSF) clients to invest their superannuation in a financial product. ASIC found that Rose engaged in conduct that was dishonest, determining Rose knew funds had been deposited for the purpose of investing in a financial product and ...

Mayfair 101 regains control of assets, liquidators abandon claims

JAMIE WILLIAMSON  |  MONDAY, 18 MAR 2024
... settlement makes clear that ASIC, the liquidators and Vasco misrepresented the affairs of the companies and mischaracterised my conduct and my character. They overrode the formal written directions of IPO Wealth's unitholders - who voted on putting ...

ATO refers SMSF auditors to ASIC

JAMIE WILLIAMSON  |  THURSDAY, 14 MAR 2024
Fifteen self-managed super fund (SMSF) auditors have been reprimanded for performing in-house audits. The Australian Taxation Office (ATO) referred 15 SMSF auditors to ASIC following a review of files from audit firms. ASIC said it had concerns that ...

Sexism in the City: UK financial sector slammed

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAR 2024
... should be required to explain the gap and publish an action plan, the report recommends. It also recommended the Financial Conduct Authority and Prudential Regulation Authority drop plans for businesses to report on diversity and set targets. "These ...