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Showing 101 - 110 of 1676 results for "Breach"

ASIC grants no-action on deficient advice fees consent

JAMIE WILLIAMSON  |  FRIDAY, 6 JUN 2025
... requirements when entering ongoing fee arrangements (OFAs). It comes as the regulator said it does not intend to take action on a breach of section 962S of the Corporations Act and section 99FA of the SIS Act that it has seen. The issue involved a written ...

ASIC blasts managed funds' poor compliance plans

KARREN VERGARA  |  MONDAY, 2 JUN 2025
Too many responsible entities (REs) of managed funds are falling short of their obligations to adequately address design and distribution obligations (DDO), the reportable situations regime and internal dispute resolution processes and reporting (IDR) ...

Greenwashing remains an enforcement priority: ASIC

MICHELLE BALTAZAR  |  THURSDAY, 29 MAY 2025
... contrast, our enforcement posture on greenwashing is a different one," said O'Rourke, stressing that greenwashing is a breach of long-standing and very well-established legal obligations. Misleading and deceptive conduct by corporates, whether it's ...

ASIC sues former director of crypto platform owing nearly $60m

MATTHEW WAI  |  THURSDAY, 29 MAY 2025
Following the collapse of the cryptocurrency platform in 2019, former Blockchain Global director Liang Guo, also known as Allan Guo, is being sued by ASIC over multiple breaches of directors' duties. Guo was restrained from leaving the country following ...

QSuper settles $67m class action

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
QSuper, which merged with Sunsuper to create Australian Retirement Trust (ART), Australia's second-largest super fund, has reached a $67 million out-of-court settlement over claims members were overcharged for life insurance premiums. The settlement ...

ASIC sues home loan manager over 'unlawful' hardship application handling

MATTHEW WAI  |  WEDNESDAY, 21 MAY 2025
The Australian Securities and Investments Commission (ASIC) has filed legal proceedings against Resimac, which manages non-bank loans provided by Perpetual Trustees, for failing to provide appropriate care in responding to hardship applications. Resimac ...

Cointree hit with AUSTRAC fine

ELIZA BAVIN  |  MONDAY, 19 MAY 2025
AUSTRAC has hit crypto exchange Cointree with a $75,120 infringement notice over alleged failures to submit suspicious matter reports (SMRs) to AUSTRAC on time. The action comes after Cointree voluntarily disclosed it had not met the reporting timeframes ...

Dexus accused of breaching confidentiality in airport stake sale

ANDREW MCKEAN  |  FRIDAY, 16 MAY 2025
... confidentiality deed poll and disclosed confidential information in the Dexus Bloc sale process. This would constitute a breach of the APAC Shareholders' Deed, according to the allegations made. It's been reported that IFM Investors, which owns 25% of ...

NAB MySuper class action settlement approved

JAMIE WILLIAMSON  |  WEDNESDAY, 14 MAY 2025
The Federal Court approved the $65 million settlement that was reached in December. At the end of 2024, MLC Super Fund, NULIS Nominees and MLC Nominees agreed to settle the class action that was brought against it for deferring the transition of members ...

Criminal attacks, human error drive data breaches

JAMIE WILLIAMSON  |  WEDNESDAY, 14 MAY 2025
The number of data breaches reported to the Office of the Australian Information Commissioner (OAIC) rose 25% in 2024; 54 or 9% of which occurred at financial services organisations. New statistics from the OAIC show there was a total of 1113 notifications ...