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Showing 1011 - 1020 of 5615 results for "ASIC"

Provide Capital ordered to produce documents

CASSANDRA BALDINI  |  THURSDAY, 5 OCT 2023
... subsidiary of TPP Global Investments has been ordered by the Federal Court to produce documents it has so far withheld from ASIC. Provide Nominees (Provide), which trades as Provide Capital, came under the watchdog's surveillance in March last year ...

Skynet adviser stole $10.2m: Court

KARREN VERGARA  |  THURSDAY, 28 SEP 2023
... clients to the tune of $10 million and could face up to 20 years in jail. Terence Rio Nugara, who was permanently banned by ASIC in April, stole $10,152,061.93 from 38 clients between 10 October 2014 and 9 January 2019, documents from the Country Court ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... attracting about 700 customers and funds totalling around $1.6 million. To acquire the interest earning investment product, ASIC said customers deposited AUD into a Bobbob account. The AUD deposits were then exchanged for the crypto-asset USD Coin (USDC) ...

Bridges adviser base drops 20%

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
... parent company Insignia Financial ramps up its restructure. Twenty-three Bridges authorised representatives ceased on the ASIC Financial Adviser Register in September, dragging the advice group's total number down to 104, Rainmaker modelling of the ...

Former adviser lands in jail

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... account. After a few weeks, Sebo continued to dismiss the client's query until the latter contacted the police. According to ASIC's Financial Adviser Register, Sebo was licensed under MCA Financial Planners between May 2014 and September 2018. Between ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... remediate clients in a fair and timely manner, operating under a framework that lacks appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer Remediation and found several gaps that could ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
... misleading customers over the funds available to them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act by falsely indicating that customers could access a cash advance from ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
... failed to pay more than $270,000 it is owed. The Federal Court hearing is set for October 3 in Melbourne, according to an ASIC notice. Last year, WJ & V Drakoulis Super took NextGen to AFCA, alleging it provided bad financial advice that involved investing ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... charge $1.80 for periodic payments to other accounts within NAB and $5.30 for periodic payments to accounts at another bank, ASIC explained. NAB's terms also stated that customers would be entitled to exemptions from periodic payment fees for certain ...

Trading platform pays $830k over suspicious trades

JAMIE WILLIAMSON  |  THURSDAY, 21 SEP 2023
... be placed despite it being reasonable to assume the orders were being placed to bump up the closing price of OCC shares, ASIC said. This is because the orders were entered or amended late in the CSPA; were for a very small volume and value; they returned ...