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Showing 1101 - 1110 of 5616 results for "ASIC"

ASIC nudges trustees on member fund compliance

ANDREW MCKEAN  |  TUESDAY, 27 JUN 2023
ASIC is appealing for superannuation trustees to adhere to their legal responsibilities concerning member funds following a review of 12 trustees. A recent review by ASIC revealed that most aren't meeting their legal responsibilities for managing incoming ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... whole, the majority of which relates to improving the framework and how certain costs are recovered, while the others direct ASIC to streamline its reporting, transparency and consultation remit. Overall, the review found that the current settings of ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... provisions when engaging with their own members. As an example, he uses the current state of retirement income products. ASIC Regulatory Guide 38 The hawking prohibition states that a trustee can call a member "with information about different retirement ...

ASIC permanently bans former financial adviser

CASSANDRA BALDINI  |  TUESDAY, 27 JUN 2023
Former financial adviser John Wertheimer has been banned by the regulator after he was convicted of using the Netwealth platform to access client accounts and make unauthorised transactions. In May 2020, Wertheimer made 48 unauthorised transactions ...

ALRC to simplify, restructure advice laws

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... financial advice, users must read through the substantive provisions of the Act to identify advice-related provisions or look to ASIC regulatory guidance to address the defects in the law's communicative power," the ALRC said. Secondly, how advice provisions ...

Morrison Securities pays infringement over DTRs

CHLOE WALKER  |  THURSDAY, 22 JUN 2023
... with an infringement notice given by the Markets Disciplinary Panel (MDP). According to the MDP, Morrison contravened the ASIC Market Integrity Rules on six occasions between October and November 2021. Specifically, On October 27, a client of Morrison ...

Former Capstone adviser in EU with ASIC

JAMIE WILLIAMSON  |  THURSDAY, 22 JUN 2023
A former Capstone Financial Planning adviser is in a court enforceable undertaking with ASIC after he failed to maintain adequate records to show clients were receiving the services they'd paid for. Gregory Blackaby, formerly of Acquire Strategic Advisers ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... operates derivatives, forex margin trading and CFDs, received 614 complaints between July and December 2022. Separately, ASIC has recently called upon the expertise of the Financial Services Credit Panel, which handed down its inaugural determination. ...

Advance Asset Management ceases direct distribution

JAMIE WILLIAMSON  |  WEDNESDAY, 21 JUN 2023
... was deemed to be in the best interests of investors. It also said the decision is not related to the stop orders issued by ASIC earlier this year in relation to "broadly drafted" target market determinations that failed to define key concepts. The funds ...

ASIC flags AI regulation remit

KARREN VERGARA  |  TUESDAY, 20 JUN 2023
ASIC flagged it will take a formidable role in regulating how artificial intelligence will impact the securities and corporate sectors. ASIC chair Joe Longo unveiled much of the regulator's agenda in the short term, with AI taking up a "high and important ...