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Showing 1071 - 1080 of 1680 results for "Breach"

Suncorp fined for consumer credit breach

ALEX BURKE  |  FRIDAY, 23 DEC 2016
Suncorp paid a total of $530,000 in penalties for breaching consumer protection laws. ASIC said Suncorp's breach of consumer credit notification provisions occurred as a result of an internal error, which prevented a "large number of consumers" from ...

ASIC takes Westpac to court

JAMIE WILLIAMSON  |  FRIDAY, 23 DEC 2016
A battle over the definition of personal and general financial advice will play out in the Federal Court following ASIC's decision to bring civil proceedings against Westpac subsidiaries. The corporate regulator is alleging Westpac Securities Administration ...

Financial services exposed to high cyber risk

JAMIE WILLIAMSON  |  TUESDAY, 20 DEC 2016
The increased potential for financial gain is making financial services businesses a greater target for malware attacks, with these now more likely than any other form of cyber security incident. This is the key finding of new survey results published ...

Bank inquiry recommends breaking big four oligopoly

ALEX BURKE  |  FRIDAY, 25 NOV 2016
The House of Representatives Standing Committee on Economics' first report in its review of the four major banks has recommended breaking the big four's "oligopoly" and introducing competition into the sector. The report said this could be achieved ...

Insurers to battle big data privacy concerns

ALEX BURKE  |  TUESDAY, 15 NOV 2016
While big data presents a boon for insurers doing customer risk analysis, the benefits will have to be weighed against ongoing user privacy and discrimination issues. This is one of the key findings of the Actuaries Institutes' latest green paper, which ...

Self-auditing SMSF auditor caught in ASIC breach

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2016
Advisers should be careful when engaging a SMSF auditor following another disqualification by ASIC yesterday. Pierre Jarjoura of New South Wales has been disqualified after the regulator found he had breached independence and audit requirements, determining ...

Equititrust CEO remains permanently banned

KERRIE SYDEE  |  THURSDAY, 20 OCT 2016
The former chief executive and founding director of Equititrust remains permanently banned from providing financial services after withdrawing his application to the Administrative Appeals Tribunal for a review of ASIC's decision. Mark McIvor was permanently ...

Centrepoint settles Aviva lawsuit

ALEX BURKE  |  MONDAY, 17 OCT 2016
Centrepoint Alliance has settled the proceedings commenced against it by Aviva Holdings. Back in January, Aviva made a statement of claim alleging that Centrepoint's former Singaporean subsidiary, Fifth Floor, breached a 2012 share purchase agreement ...

Life Insurance Code targets self-regulation

MARK SMITH  |  TUESDAY, 11 OCT 2016
An independent committee will have the ability to sanction insurers who do not comply with a new set of standards laid out in an industry-wide Life Insurance Code of Practice produced by the Financial Services Council (FSC). The new code, released today ...

ANZ blames tech and training for bank mishaps

JAMIE WILLIAMSON  |  THURSDAY, 6 OCT 2016
ANZ chief executive Shayne Elliott has conceded the bank has not always met the standards it sets for itself or that the community rightly expects. In addressing the House of Representatives' parliamentary committee yesterday, Elliott said: "Each time ...