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Showing 1111 - 1120 of 6074 results for "Commission"

DDO top of ASIC's agenda

ELIZA BAVIN  |  TUESDAY, 27 OCT 2020
... reduce harms seen from past misselling conduct and poor product design, including those identified during the Royal Commission." Hughes said the obligations embed a "consumer-centric" approach to the product lifecycle and should assist industry to deliver ...

Daniel Crennan resigns

ELIZABETH MCARTHUR  |  MONDAY, 26 OCT 2020
ASIC deputy chair Daniel Crennan has resigned following revelations his remuneration exceeded the regulator's salary cap. Senator Mathias Cormann tabled a statement from Crennan during Senate Estimates this morning at the request of Treasury. "In ...

ASIC chair steps aside pending pay review

JAMIE WILLIAMSON, KANIKA SOOD, ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
ASIC chair James Shipton has stepped aside pending the outcome of a review into his remuneration arrangements. Tabling the 2019/20 ASIC annual report today and addressing the Senate Estimates committee, Shipton flagged certain relocation expenses incurred ...

ASIC to curb huge CFD losses

KARREN VERGARA  |  FRIDAY, 23 OCT 2020
The corporate regulator is stepping in to prevent retail investors losing millions of dollars from trading highly risky contract for difference (CFDs) instruments. ASIC has imposed a product intervention order on the issue and distribution of CFDs effective ...

Calls to axe TPB for financial advisers

ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
... recently said that the establishment of a new single disciplinary body for financial advisers, as recommended by the Royal Commission, could be yet another agency that advisers had to fund which duplicates regulation. "The single disciplinary body should ...

Legacy AMP Life policyholders take premium hit

ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
... The regulator said these included the poor product design and aggressive selling methods highlighted during the Royal Commission. "Our lifetime protection products, a small percentage of our income protection customers, are one of the product groups ...

Robo-advice a complement, not disruptor: Six Park

ANNABELLE DICKSON  |  FRIDAY, 23 OCT 2020
... barriers for adviser adoption is the perception that robo-advice may not be compliant, particularly following the Royal Commission. However, he said, these concerns are unfounded and ASIC is supportive of digital advice models. "Anything that helps professionals ...

Societe Generale fined over client breaches

ANNABELLE DICKSON  |  WEDNESDAY, 21 OCT 2020
The French bank's Sydney operation has become the second company in Australia in as many months to be criminally prosecuted over breaching client money obligations. Societe Generale pleaded guilty to four counts of client money obligation breaches in ...

Sam Henderson sentenced

ELIZABETH MCARTHUR  |  TUESDAY, 20 OCT 2020
... information memorandum dated May 2011. Henderson was the subject of a case study on bad financial advice at the Royal Commission and was subsequently banned from providing financial services for a period of three years. During the Royal Commission, audio ...

NAB to pay $15m for Royal Commission case study

ELIZABETH MCARTHUR  |  MONDAY, 19 OCT 2020
... Bank has been ordered to pay $15 million for dealing with unlicensed home loan introducers, as revealed at the Royal Commission. ASIC brought proceedings against NAB for contravening the National Consumer Credit Protection Act, which prohibits credit ...