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

Search Results

Showing 1081 - 1090 of 3918 results for "law"

Banks still failing customers after Royal Commission

ELIZA BAVIN  |  TUESDAY, 16 MAR 2021
A review of Australian Financial Complaints Authority (AFCA) complaints data shows over 31,000 complaints have been made in the wake of the Royal Commission, according to CHOICE. Complaints around credit products revealed many customers have still been ...

Trading platform slapped with licence conditions

KARREN VERGARA  |  MONDAY, 15 MAR 2021
A trading platform was slapped with additional conditions from ASIC for several compliance failures. ASIC is doubtful if retail OTC derivative issuer AxiCorp Financial Services has the appropriate procedures and internal controls to meet regulatory ...

Former AMP adviser in enforceable undertaking

ELIZABETH MCARTHUR  |  MONDAY, 15 MAR 2021
... clients - ASIC determined this action created extra revenue for Thorne. "ASIC first took action in this matter because the law requires that financial advisers act in their clients' best interests. Those providing financial services must not prioritise ...

Chief economist update: Japan to double down on stimulus?

BENJAMIN ONG  |  MONDAY, 15 MAR 2021
It won't be long now until cherry blossoms start blooming in Japan. But just like these blossoms' short-lived wonder, the Land of the Rising Sun's economic recovery through various crises going back to the late 1980s-early 1990s proved to ...

Chances of CBA admitting to Essential Super wrongdoing "non-existent"

JAMIE WILLIAMSON  |  FRIDAY, 12 MAR 2021
... "I don't know why the Commonwealth Bank of Australia has agreed to these admissions when it hasn't contravened the law." In concluding, Justice Anderson said he would not be ordering mediation. "If they think it's possible to settle the matter ...

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
APRA has closed its investigation into possible breaches of the Banking Act 1959, including the Banking Executive Accountability Regime (BEAR), by Westpac. APRA launched the investigation into Westpac last year following allegations by AUSTRAC that ...

Mawhinney not dishonest, just irresponsible: ASIC

ELIZABETH MCARTHUR  |  FRIDAY, 12 MAR 2021
The corporate regulator has slightly softened its accusations against Mayfair 101 founder James Mawhinney - saying he wasn't consciously dishonest, just irresponsible. During a hearing in ASIC's case against M101 Nominees held on March 9, a lawyer for ...

Frontier zeroes in on poor culture

KARREN VERGARA  |  THURSDAY, 11 MAR 2021
... board," Rafe said. "There appears to be a paradox between ethical expectations and legal restriction. Simply complying with the law does not necessarily mean executives' action is right for customers. The evidence indicates that the senior executives ...

GROW Super rebrands

KARREN VERGARA  |  THURSDAY, 11 MAR 2021
... customer behaviours. The new-look GROW, with a refreshed website, shows some of its clients include companies such as Hawkins Law Firm and marketing communications firm DeanHouston. The super fund offering kickstarted in 2016 and launched in May 2017 ...

Court makes orders in ASIC versus TAL

KANIKA SOOD  |  WEDNESDAY, 10 MAR 2021
The Federal Court yesterday made orders in ASIC's December 2019 case against TAL, which stems from a Royal Commission case study. The matter relates to a TAL income protection customer, who in January 2014 made a claim on her policy after being ...