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Showing 1041 - 1050 of 6457 results for "Regulatory"

Advisers should leverage US tech blueprint: SIAA panel

KARREN VERGARA  |  TUESDAY, 14 MAY 2024
... here is that technology is really powering the transformation at scale in the US wealth advice industry. While the regulatory framework differs here in the US - margin compression and the need for advisers to efficiently serve more clients with quality ...

Federal Court rejects two CBA class actions

KARREN VERGARA  |  MONDAY, 13 MAY 2024
The Federal Court shut down two class actions against Commonwealth Bank of Australia (CBA) relating to anti-money laundering and counter-terrorism financing (AML/CTF). AUSTRAC alleged as early as 2017 that the bank contravened the Anti-Money Laundering ...

Brisbane financial adviser has assets frozen

ANDREW MCKEAN  |  FRIDAY, 10 MAY 2024
ASIC has instigated "urgent proceedings" in the Federal Court against Brisbane financial adviser Sunny Prakash and his many associated companies. The corporate regulator is investigating Prakash and his "related companies" - Principal Financial Services ...

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

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
ASIC commissioner Simone Constant says the regulator's new report on exorbitant advice fee deductions is not a criticism of advisers, rather of trustees failing basic obligations, with more still needing to be done by the reviewed funds some 12 ...

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
A review by ASIC has found evidence of poor oversight of advice fee deductions by superannuation trustees, with some allowing charges of up to $20,000 before raising concerns and some not conducting any checks of advice documents at all. ASIC is calling ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
J.P. Morgan Securities Australia Limited (JPMSAL) has been hit with a $775,000 fine by the Markets Disciplinary Panel (MDP) following an investigation by the Australian Securities and Investments Commission (ASIC). The MDP found JPMSAL permitted suspicious ...

AFCA and CSLR sign MoU

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
The Australian Financial Complaints Authority (AFCA) and Compensation Scheme of Last Resort (CSLR) have signed a Memorandum of Understanding (MoU) setting out how they will work together to support a fair and efficient financial services sector. The ...

AMP launches alternative debt fund

ELIZA BAVIN  |  WEDNESDAY, 8 MAY 2024
... credit risk notes from issuing banks insuring the first loss on a diversified pool of high-quality loans, providing regulatory capital relief to the banking institution to maintain their relevant Tier 1 capital ratios. It will also provide exposure to ...

FSC launches digital advice group

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... opportunity to deliver financial advice digitally is confronted by common challenges posed by a costly and burdensome regulatory framework." The robo-advice group builds on the FSC's expansion into the advice sector by adding six licensees to its ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
... their products will continue to be scrutinised by ASIC to ensure consumers are protected and that they comply with regulatory obligations." The Court has directed the parties to confer with respect to directions that may be made for further hearing to ...