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Showing 91 - 100 of 439 results for "ASIC deputy chair"

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... option. It also appointed a head of alliance, advice industry veteran Mark Stubbings. Commenting on the matter, ASIC deputy chair Sarah Court said firms dealing in financial products have a legal obligation to be licensed. "The licencing regime requires ...

ASIC charges HESTA for misleading marketing

ANDREW MCKEAN  |  FRIDAY, 10 NOV 2023
... the historical performance figures presented were notably more favourable than the most recent data available. ASIC deputy chair Sarah Court expressed concerns about the potential for consumer deception, emphasising that the omission of "necessary information" ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... 2023, TelstraSuper received only 33 AFCA complaints. Only six cases were resolved in favour of the super fund. ASIC deputy chair Sarah Court said: "ASIC expects the financial services industry to have effective dispute resolution procedures in place ...

ASIC loses case against Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 OCT 2023
... of advice, which, if not done properly, can enable inappropriate behaviour by service providers and others," ASIC deputy chair Sarah Court said. "ASIC will continue to work with superannuation trustees emphasising the importance of risk management when ...

ANZ breached disclosure laws in 2015 raise: Court

CHLOE WALKER  |  MONDAY, 16 OCT 2023
... Moshinsky said. The decision has been hailed a landmark win for ASIC, which first brought the case to court in 2018. ASIC deputy chair Karen Chester said the decision reaffirms ASIC's long-standing expectation that an issuer of securities must disclose ...

ASIC cracks down on 11 SMSF auditors

ANDREW MCKEAN  |  WEDNESDAY, 11 OCT 2023
... "SMSF auditors have a critical role in upholding the integrity of the SMSF sector through annual audits," said ASIC deputy chair Sarah Court. Court highlighted that auditors are responsible for overseeing 610,000 SMSFs, holding a combined total of more ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... effective regulatory outcome, after having weighed the regulatory outcomes offered by other enforcement remedies. ASIC deputy chair Sarah Court explained the product risked confusing customers. "ASIC was concerned Bobbob's representations potentially ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... firm's mistakes, but also very costly for firms who have to re-do remediations and repair reputational damage," ASIC deputy chair Karen Chester said. "Going forward, while ASIC will generally not oversee remediation programs, we will consider regulatory ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
... access a cash advance from funds listed as 'Available Funds' without incurring additional fees or interest. ASIC deputy chair Sarah Court said: "Customers deserve clear and accurate information about available funds in their accounts and what fees and ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... observance of the law and on respect for its customers' legal rights," he continued. Commenting on the outcome, ASIC deputy chair Sarah Court said: "NAB continued to charge fees when it knew it lacked any entitlement to do so and omitted to tell ...