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Showing 61 - 70 of 406 results for "ASIC commissioner"

Westpac in fresh $87m remediation program

KARREN VERGARA  |  FRIDAY, 2 JUL 2021
... shares and receive a benefit that can be tax advantageous depending on the shareholder's circumstances. ASIC commissioner Danielle Press said Westpac's failure to notify customers of corporate actions means customers may have missed out on various ...

Regulators urge wider DDO adoption

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
... will be "an evolution in sophistication" over time for both instruments. This first roundtable was hosted by ASIC commissioner Danielle Press and APRA deputy chair Helen Rowell. The chief executives in attendance included Aware Super's Deanne Stewart ...

LIBOR phased out by year end

ELIZABETH MCARTHUR  |  FRIDAY, 4 JUN 2021
... operational risks associated with inadequate preparation," ASIC, APRA and the RBA said in a joint statement. ASIC commissioner Cathie Armour added: "Firms should, as soon as practicable, stop the sale and issuance of LIBOR-referenced contracts that expire ...

ASIC increases short selling surveillance

KARREN VERGARA  |  THURSDAY, 3 JUN 2021
... said, noting that there is high risk that possessing such information could breach insider trading prohibitions. ASIC commissioner Cathie Armour said investors expect to transact in a fair and informed market. "When activist short sellers provide accurate ...

Forex CT cops $20 million fine

ANNABELLE DICKSON  |  WEDNESDAY, 2 JUN 2021
... corporations disregard the law and their client obligations, ASIC will take action and the consequences can be severe," ASIC commissioner Cathie Armour said. ASIC first initiated civil proceedings in the Federal Court against Forex CT and Yoshai in July ...

Former adviser jailed for six years

KARREN VERGARA  |  WEDNESDAY, 26 MAY 2021
... managing a corporation for five years. His six years' imprisonment comes with a four-year non-parole period. ASIC commissioner Danielle Press commented: "Financial advisers should always allow clients to have direct access to information about their ...

Super fund whistleblower policies lacking: ASIC

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
... should be published widely. Speaking at the Conference of Major Superannuation Funds in Adelaide on May 20, ASIC commissioner Danielle Press called attention to drawbacks in whistleblower policy requirements that came into effect earlier this year. "Close ...

Long way for super complaints overhaul

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
... must be responded to in 45 days. Speaking at the Conference of Major Superannuation Funds (CMSF) on May 19, ASIC commissioner Danielle Press shared the results of ASIC's survey of trustees' readiness for the changes which come into effect in ...

CBA to pay $7m for overcharged interest

ANNABELLE DICKSON  |  THURSDAY, 8 APR 2021
... submission that CBA tried to quickly remedy the error and found the delay "particularly troubling". As such, ASIC commissioner Sean Hughes said when financial institutions discover overcharging, they must take immediate action to remediate impacted consumers. ...

ASIC cracks down on binary options

ELIZABETH MCARTHUR  |  THURSDAY, 1 APR 2021
... options' product characteristics make them incompatible with investment or risk management use by retail clients," ASIC commissioner Cathie Armour said. "ASIC's product intervention order will protect retail investors from these harmful products at a ...