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Showing 1141 - 1150 of 6457 results for "Regulatory"

Mergers a boon for super member growth

KARREN VERGARA  |  MONDAY, 19 FEB 2024
... investments and membership base," said Myers. "At the strategic level, further mergers, increased competition, a shifting regulatory member focus and the skewed favourability of the Your Future, Your Super (YFYS) stapling legislation, will exert further ...

VanEck failed to disclose influencer's role in ETF launch: SEC

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2024
VanEck will pay US$1.75 million ($2.7m) to settle a case brought by the Securities and Exchange Commission, which alleged the investment manager failed to disclose the involvement of an influencer in the launch of an ETF in 2021. In the US, VanEck Associates ...

Commonwealth Bank slapped with $10.3m fine for wage theft

ANDREW MCKEAN  |  FRIDAY, 16 FEB 2024
Commonwealth Bank was fined $10.3 million by the Federal Court for its involvement in wage theft which led to $16 million in underpayments to over 7400 workers. The case emerged after the Finance Sector Union (FSU) uncovered the bank's systematic ...

ASIC files lawsuit against unlicensed director, companies

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
The corporate regulator filed a lawsuit against a Queensland man who allegedly deceived people he knew into handing over $100 million to invest in companies he owned without a financial services licence. ASIC commenced proceedings in the Federal Court ...

Former director pleads guilty to hedge fund con

JAMIE WILLIAMSON  |  WEDNESDAY, 14 FEB 2024
The former director of Reiwa-Capital is facing possible jail time and a hefty fine after he convinced people to hand over more than $400,000 for the purpose of investing before spending it all elsewhere and paying back just 1% of the total to investors. ...

Jailed adviser permanently banned by ASIC

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
A former financial adviser who was jailed for stealing more than $1 million from his clients' superannuation to feed a gambling problem is now permanently banned from the industry. In September 2023, Mark Raymond Sebo was found guilty of misappropriating ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... between February 21 and 23. Heffron told Financial Standard that APRA-regulated super funds have experienced a lot of regulatory and legislative interference in the last couple of years. "I'm looking forward to hearing about what that meant for that ...

Too many Aussies eligible for wholesale products: FSC

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... demands and operational risks, particularly in serving a larger retail clientele, potentially leading to higher costs for regulatory breaches. The FSC asserted the crucial role of wholesale investors in Australia's capital markets but advocated for updated ...

Crypto fintech needed AFSL, court says

JAMIE WILLIAMSON  |  MONDAY, 12 FEB 2024
... Block Earner, also warned firms to carefully consider their activities, adding it expects ASIC to keep "testing the regulatory perimeter." "This is a significant judgment providing greater insight to the market and legal practitioners as to types of ...

ASIC issues interim stop orders against Keystone

JAMIE WILLIAMSON  |  THURSDAY, 8 FEB 2024
Keystone Asset Management has been told to stop offering the Shield Master Fund due to concerns about misleading statements and inadequate disclosures in the fund's documentation. ASIC issued interim stop orders against Keystone Asset Management, saying ...