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Showing 91 - 100 of 256 results for "Financial Services Law"

FPA pushes for advice law simplification

KARREN VERGARA  |  WEDNESDAY, 2 MAR 2022
... ordinary Australians who need it most," Abood said. In late 2021, the ALRC proposed sweeping reforms to financial services law, including changes that could affect the advice industry. Its first of four reports, Financial Services Legislation: Interim ...

Aware Super advice arm to pay $20m fine

CHLOE WALKER  |  FRIDAY, 18 FEB 2022
The industry super fund's financial advice subsidiary has been hit with a $20 million penalty for charging over 25,000 customers more than $50 million in fees for no service. Between 21 August 2014 and 30 June 2018, Aware Financial Services, formerly ...

Proposed reforms could simplify advice

KARREN VERGARA  |  FRIDAY, 3 DEC 2021
... simplify several complex areas of financial advice legislation. The ALRC is proposing sweeping changes to financial services law, including changes that affect the advice industry, tabled in parliament on November 30. After surveying a gamut of corporations ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial ...

Former Spectrum chief cops additional bans

KARREN VERGARA  |  WEDNESDAY, 20 OCT 2021
Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services. The Administrative Appeals Tribunal amended ASIC's banning order that was handed down ...

AustralianSuper appoints chief risk officer

JAMIE WILLIAMSON  |  TUESDAY, 12 OCT 2021
... this very important function," he said. Trained as a lawyer, Mantello started his career in banking and financial services law at K&L Gates in 2007. He first joined the fund in October 2011 as a commercial analyst. He has held several roles over the ...

Former Regal FM portfolio manager banned

JAMIE WILLIAMSON  |  WEDNESDAY, 22 SEP 2021
... also found Rands wasn't adequately trained or competent for the role he held and is likely to contravene a financial services law again. "Market manipulation is an enduring priority for ASIC. Market manipulation undermines the integrity of, and diminishes ...

Former Millennium3 representatives cop ban

KARREN VERGARA  |  TUESDAY, 3 AUG 2021
... banned the Lismore-based duo after an investigation found that they failed to ensure that NCFS complied with financial services law; its representatives also failed to abide by Millennium3's compliance manual. Further, ASIC determined they did not supervise ...

Financial Masterplan advisers banned

ANNABELLE DICKSON  |  TUESDAY, 3 AUG 2021
ASIC banned two Gold Coast-based financial advisers for five years after they were found to have placed clients in inappropriate superannuation and insurance products. The corporate regulator believes Trent Allan and Fabrizio Urrutia were not adequately ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
ASIC released more information on what financial advisers can expect from the new reference checking laws, which take effect on October 1. New protocols administered by ASIC requires a licensee recruiting a prospective financial adviser to request a ...