Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1041 - 1050 of 5615 results for "ASIC"

ASIC cracks down on former adviser, comedian

JAMIE WILLIAMSON  |  TUESDAY, 22 AUG 2023
... Federal Court to surrender his passport while his assets and those of his business, Your Financial Freedom, were frozen. ASIC is investigating fees charged to the super funds of Valvo's former clients between January 2015 and September 2021. It's ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... it, the class action alleged that AMP engaged in misconduct by charging fees for no services, withheld the breaches from ASIC, and then mislead ASIC about the nature and extent of the breaches. Subsequently, AMP's share price declined substantially. ...

Financial Standard kicks off Power50 voting

JAMIE WILLIAMSON  |  MONDAY, 21 AUG 2023
Voting is now open for the 2023 FS Power50, recognising the most influential financial advisers in Australia. This year, Financial Standard received more than 200 nominations for the FS Power50, with 116 progressing to the voting stage. "The FS Power ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... cost reset initiative and charges related the Commonwealth's Compensation Scheme of Last Resort (CSLR). According to ASIC, the CSLR will provide compensation of up to $150,000 to consumers who have an unpaid determination from the Australian Financial ...

Crypto lender sentenced for false licence

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... the condition of good behaviour. "Helio pleaded guilty to the conduct, and this was taken into account upon sentencing," ASIC said. The charges were brought in April 2022. The maximum penalty for a contravention of this type is one year in prison and/or ...

ASIC renews leadership team

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... made several executive changes within its enforcement and compliance, regulation and supervision and markets group teams. ASIC's current senior executive leader, investigations Chris Rowe has been promoted to the role of senior executive leader investigation ...

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
... dismissed in September 2022, ASIC's appeal of that decision has also now been dismissed. The case was first brought by ASIC in June 2020 and related to the distribution of Essential Super. CBA staff signed up over 390,000 people to CFS's Essential ...

ASX profits hit by CHESS setbacks, acts on review findings

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
... constructively with them, and we have sought to lift the levels of transparency and engagement during the year." Earlier this year, ASIC initiated an investigation into ASX regarding potential breaches related to the CHESS replacement program. The probe ...

Madison FG, Godfrey Pembroke's PDG combine services

KARREN VERGARA  |  THURSDAY, 17 AUG 2023
Madison Financial Group has joined forces with Godfrey Pembroke's Practice Development Group (PDG), consolidating their operational and AFSL services to create a new entity providing back-office services to their financial advice networks. Madison ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
ASIC has proposed a five-year extension to the design and distribution obligations (DDO), the instrument for which was originally set for a two-year period. DDO was introduced following a recommendation from the 2019 Financial System Inquiry to compel ...