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Showing 101 - 110 of 3215 results for "October 2008"

Super tax break changes open for consultation

KARREN VERGARA  |  TUESDAY, 3 OCT 2023
Treasury's clampdown on tax concessions for superannuation balances greater than $3 million has been laid out in its draft legislation and is now opened for consultation. From 2025-26, the proposed law states that for members with total superannuation ...

Inflation rises to 5.2%

CASSANDRA BALDINI  |  THURSDAY, 28 SEP 2023
The Consumer Price Index (CPI) experienced a slight increase in the month of August, jumping to 5.2% from 4.9% in July. Data released by the Australian Bureau of Statistics (ABS) revealed that the major contributors to the price increase included housing ...

Skynet adviser stole $10.2m: Court

KARREN VERGARA  |  THURSDAY, 28 SEP 2023
The principal and financial adviser of Skynet Financial Services swindled clients to the tune of $10 million and could face up to 20 years in jail. Terence Rio Nugara, who was permanently banned by ASIC in April, stole $10,152,061.93 from 38 clients ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
After ignoring an Australian Financial Complaints Authority (AFCA) determination, which was then escalated to the Federal Court, NextGen Financial Group is now in the process of winding up. WJ & V Drakoulis Super, the trustees of the SMSF that sued ...

Trading platform pays $830k over suspicious trades

JAMIE WILLIAMSON  |  THURSDAY, 21 SEP 2023
Interactive Brokers is paying a fine of more than $830,000 after it failed to identify suspicious trades conducted by a client. Between March and November 2021, certain Closing Single Price Auction (CSPA) orders in Orthocell (OCC) were allowed by Interactive ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
ASIC has commenced civil penalty proceedings against Bit Trade, provider of crypto exchange Kraken, following alleged failures to adhere to design and distribution obligations for margin products offered to Australian customers. Since the introduction ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
The government has published its draft legislation and is seeking feedback on its proposed reforms, which aim to strengthen the integrity of the tax system and regulators' powers in response to the recent PwC scandal. The new legislation outlines changes ...

Adviser registration deadline extended again

KARREN VERGARA  |  WEDNESDAY, 20 SEP 2023
ASIC has again extended the date for financial advisers' registration requirements to 1 February 2024. Advisers previously had until October 1 to register on ASIC's Financial Advisers Register. The original deadline date was set for 1 January 2023. ...

Launch of new superannuation body imminent

JAMIE WILLIAMSON  |  TUESDAY, 19 SEP 2023
To be known as the Super Members Council of Australia, the new body created by the Australian Institute of Superannuation Trustees (AIST) and Industry Super Australia (ISA) is hunting for a chief executive ahead of its official launch next month. Expected ...

BNP Paribas reappointed as custodian for wealth platform

ANDREW MCKEAN  |  FRIDAY, 15 SEP 2023
BNP Paribas' Securities Services will remain custodian for HUB24, the platform rapidly gaining market share. As part of the renewed mandate, BNP Paribas will extend its local and global custody services to HUB4, continuing a partnership that began ...