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Showing 91 - 100 of 284 results for "Enforceable Undertaking"

CBA should have done more: Federal Court

HARRISON WORLEY  |  WEDNESDAY, 11 JUL 2018
... its staff. Justice Beach of the Federal Court delivered the assessment in noting the terms of a court enforceable undertaking entered into by the bank and ASIC, after an in-principle agreement was reached between the two in May. The bank entered into ...

CBA, ANZ told to clean up superannuation distribution

KANIKA SOOD  |  FRIDAY, 6 JUL 2018
An ASIC investigation alleges Commonwealth Bank and ANZ branches offered superannuation products to customers at the end of general fact-finding processes, which the customers may have mistaken as "personal" advice rather than "general" advice. Commonwealth ...

Dover advisers turn orphans

JAMIE WILLIAMSON  |  FRIDAY, 6 JUL 2018
... week ASIC formally announced the cancellation of Dover's AFSL, with the regulator accepting a court enforceable undertaking from Dover. It was also announced that Dover founder Terry McMaster will exit the advice industry. ASIC confirmed an investigation ...

ASIC takes financial planner to court

KANIKA SOOD  |  TUESDAY, 3 JUL 2018
... Separately, ASIC is forcing Goldman Sachs Australia to pay $500,000 into a community fund and accepted an enforceable undertaking that will require the investment bank to tighten controls of its bookbuild messaging of which Goldman Sachs Australia acts ...

Dover AFSL cancelled, McMaster exits industry

JAMIE WILLIAMSON  |  FRIDAY, 29 JUN 2018
ASIC has accepted a Court Enforceable Undertaking from Dover Financial Advisers and Terry McMaster will leave the financial services industry. ASIC confirmed the action resulted from an ASIC investigation which commenced in 2017, with a particular focus ...

New Government body to advance financial literacy

JAMIE WILLIAMSON  |  MONDAY, 28 MAY 2018
An industry veteran and media personality will lead a new Federal Government body dedicated to the advancement of Australians' financial capability. Paul Clitheroe will chair the board of the new body, envisioned as Australia's peak group in ...

Former adviser faces fraud charges

HARRISON WORLEY  |  MONDAY, 28 MAY 2018
... latest step in an ongoing investigation into the practices of the former adviser, after ASIC accepted an enforceable undertaking preventing Jayaweera from providing financial product advice to retail clients in February 2016. Civil proceedings were commenced ...

Westpac off the hook in BBSW scandal

KANIKA SOOD  |  FRIDAY, 25 MAY 2018
... court on ASIC's BBSW investigations. Earlier this month, CBA copped $25 million and agreed to enter an enforceable undertaking with ASIC, in a settlement subject to Federal Court approval. The corporate regulator had dragged it to the court in January ...

Australian Ethical divests AMP

ALEX BURKE  |  THURSDAY, 10 MAY 2018
... investment managers. Palmer said the issue was complex. "There was definitely a history with AMP, such as the enforceable undertaking which goes back to 2007. We did see a lot of reaction to those concerns. But the challenge we face when we see this ...

CBA cops $25 million for BBSW rigging

KANIKA SOOD  |  WEDNESDAY, 9 MAY 2018
... expected to take a hit from the $25 million settlement, CBA said. It has also agreed to enter into an enforceable undertaking with ASIC. Under the EU an independent expert will review policies, training and monitoring for its BBSW business. CBA and ASIC ...