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Showing 1151 - 1160 of 8722 results for "Regulator"

AFCA seeks industry feedback on approaches

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
The Australian Financial Complaints Authority (AFCA) is seeking feedback from the financial services industry on its proposed annual Approach document schedule for financial year 2024-2025. AFCA Approach documents support consumers, small businesses ...

ASIC issues first stop order for crowd funding

ELIZA BAVIN  |  THURSDAY, 13 JUN 2024
... Corporations Act 2001 (Corporations Act). ASIC acted in relation to Hirehood's use of a nominee arrangement, the regulator said. "This arrangement did not permit investors to directly acquire ordinary shares in Hirehood. Instead, shares issued by ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
The Super Members Council (SMC) has revived its predecessor's calls to extend anti-hawking legislation, slamming a sub-set of financial advisers using social media posts and cold calling to drum up business. Prior to its merger, the Australian Institute ...

Performance test covers managed accounts, SMAs: APRA

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
The prudential regulator is reminding trustees that managed accounts and separately managed accounts (SMAs) are high on its radar when administering the performance test. APRA told trustees that SMAs and other managed accounts can fall into the TDPs ...

Most in-demand skills for financial services workers

ELIZA BAVIN  |  WEDNESDAY, 12 JUN 2024
Recruitment at all levels across most categories in the financial services industry has been lacklustre over the 2023/24 year, but there are some skills highly in demand, according to new data from Perceptor. The one exception has been insurance, which ...

Brighter Super awards custody mandate

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
Brighter Super has appointed a new custodian, severing its ties with NAB Asset Servicing. The $32 billion super fund chose State Street to be its custodian and back-office administrator for some 130 portfolios. The services cover fund accounting and ...

Australian Unity lashed by ASIC over TMD questionnaire

JAMIE WILLIAMSON  |  THURSDAY, 6 JUN 2024
Australian Unity Funds Management has been told to stop offering its Select Income Fund, with ASIC saying retail clients are unlikely to understand the questionnaire used to determine whether they would be in the target market. ASIC made an interim ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of retail over-the-counter (OTC) derivatives issuer XTrade. XTrade offered clients opportunities to trade in contracts for difference ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
The Federal Court has absolved Block Earner from paying a penalty for trading without a financial services licence, which ASIC believes should have been $350,000. While Judge Jackman determined that while Block Earner, which invested in cryptocurrency ...

Equity Trustees hit with fine by APRA

ELIZA BAVIN  |  WEDNESDAY, 5 JUN 2024
... required reporting standards were not met and recognised the importance of accurate and timely data required by the regulator. "Importantly, no members were impacted by the late reporting of the data," EQT said in a statement. "Steps were taken immediately ...