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Showing 1181 - 1190 of 9006 results for "Regulator"

CapitaLand buys Wingate, expands local presence

MATTHEW WAI  |  MONDAY, 16 DEC 2024
After weeks of speculation, CapitaLand Investment (CLI) confirmed it is acquiring Wingate Group for $200 million. Adding Wingate will increase CLI's private credit business and portfolio in Australia, enhancing its access to more institutional and private ...

ASIC sues HSBC Australia over $23m scam losses

MATTHEW WAI  |  MONDAY, 16 DEC 2024
ASIC has launched legal proceedings against HSBC Bank Australia in the Federal Court, alleging the latter failed to "adequately protect customers", resulting in losses of about $23 million through nearly 1000 unauthorised transactions. ASIC said the ...

Hostplus' AFCA complaint response times lag

ELIZA BAVIN  |  MONDAY, 16 DEC 2024
Hostplus published its inaugural Service Standards Report, aimed at improving transparency and accountability, with hopes other funds will follow suit. Hostplus chief executive David Elia said the report provides a comprehensive view of the volume ...

Crypto operator to fork out millions after court ruling

ANDREW MCKEAN  |  FRIDAY, 13 DEC 2024
Bit Trade, the operator of the Kraken Exchange in Australia, has been slapped with an $8 million fine for "unlawfully issuing a credit facility to more than 1100 customers." Bit Trade offered a "margin extension" product, which allowed payments to be ...

First Sentier expands mandate with Northern Trust

MATTHEW WAI  |  THURSDAY, 12 DEC 2024
Northern Trust will offer a range of front-to-back solutions as third-party administrator for First Sentier Investors under an extended agreement. Under the new terms, Northern Trust will integrate custody, depositary/trustee services, fund accounting ...

FAAA slams 'underlying issues' in CSLR

ELIZA BAVIN  |  THURSDAY, 12 DEC 2024
The Financial Advice Association Australia (FAAA) has made a submission to the Senate Economics Committee inquiry into wealth management companies, highlighting financial advisers' concerns around the Compensation Scheme of Last Resort (CSLR). Specifically ...

MLC Life and Resolution Life Australasia to merge

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2024
MLC Life Insurance and Resolution Life Australasia are set to merge, creating one of Australia's largest life insurance businesses. Nippon Life Insurance - MLC's parent company - announced it will acquire 100% of Resolution Life. As a result ...

Funds are 'getting back to basics', says report

ANDREW MCKEAN  |  TUESDAY, 10 DEC 2024
Global public pension funds and sovereign funds are refocusing on generating long-term returns, generally targeting opportunities in private markets, emerging markets, and green assets, according to the Official Monetary and Financial Institutions Forum ...

AFCA completes independent review of operations

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
The Australian Financial Complaints Authority (AFCA) has announced the completion of a three-year program responding to the 2021 Independent Review of its operations. AFCA said the work had redefined its approach to external dispute resolution. The ...

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
... derivatives, provided unlicensed advice and dealing services, and failed to act in clients' best interests. The corporate regulator added that he gave inappropriate advice, failed to provide Statements of Advice to clients, and made misleading and deceptive ...