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Showing 1 - 10 of 3647 results for "Action"

Federal Court rejects two CBA class actions

KARREN VERGARA  |  MONDAY, 13 MAY 2024
... and terrorism financing risk, including the ongoing AML/CTF risks of doing business with those customers. The Zonia class action began on 9 October 2017, whilst the Baron class action started on 2 July 2018. ASX-listed Omni Bridgeway (formerly IMF Bentham) ...

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... said. "It is good to see ASIC shining a light on poor practices. We expect ASIC to now follow up with strong enforcement action against trustees and advisers to deter future misconduct." Since the review wrapped in March 2023, Constant said there has ...

AFCA finds more Dixon Advisory victims

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
... million in costs they have to pay. FAAA chief executive Sarah Abood is calling on assistant treasurer Stephen Jones to take action on the drastically escalating costs of the Compensation Scheme of Last Resort (CSLR). "This equates to a direct cost to ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... participants cannot solely rely on automated trade monitoring systems to detect potential misconduct and must take immediate action once alerted to misconduct by ASIC." The MDP's Infringement Notice outlined that "this case highlighted the responsibility ...

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2024
The litigation funder of the AMP Buyer of Last Resort (BOLR) class action is negotiating its cut of the settlement money and could take home as much as $43 million. A notice of proposed settlement from the Federal Court shows the funder, Augusta Pool ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... he said. "Deterring cold calling for superannuation switching models is an ASIC priority, and we will continue to take action, including enforcement action, to protect consumers from high pressure, cold calling practices that induce inappropriate sup ...

New framework for investors to navigate AI released

ELIZA BAVIN  |  MONDAY, 29 APR 2024
Alphinity Investment Management (Alphinity) and CSIRO have released a responsible AI (RAI) framework and actionable toolkit to help investors navigate the accelerating AI opportunity. The Intersection of Responsible AI and ESG: A Framework for Investors ...

Actuaries Institute proposes new performance test measure

ANDREW MCKEAN  |  TUESDAY, 23 APR 2024
... suggested the consequences for failing the test for choice options could instead require trustees to provide to regulator an action plan to address the underperformance. The Institute also supports the removal of barriers to consolidation of some choice ...

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
Almost 90% of surveyed auditors do not support the government's requirements to implement mandatory climate reporting and assurance on private companies, not-for-profits and companies limited by guarantee, according to a new survey. The survey was conducted ...

Australia's budget position ranks second among G20 nations

ANDREW MCKEAN  |  FRIDAY, 19 APR 2024
Australia's budget balance as a share of gross domestic product (GDP) was second among G20 nations last year, improving from 14th in 2021, according to the International Monetary Fund (IMF). Australia's budget balance was -0.9% of GDP in 2023, surpassing ...
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