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Showing 101 - 110 of 259 results for "enforceable undertaking"

Two of the big four in ASIC spotlight

ALEX BURKE  |  THURSDAY, 22 DEC 2016
... strongly support a well-functioning and fair global FX market and will ensure the changes we make under this enforceable undertaking align with the recommendations made in the Global FX Code of Conduct being developed by the Bank for International Settlements," ...

BMW caught on car loan failures

JAMIE WILLIAMSON  |  TUESDAY, 6 DEC 2016
... advocacy initiatives as part of Australia's largest consumer credit remediation program, including an enforceable undertaking accepted by ASIC. BMW Finance will provide $77 million in compensation to customers affected by its responsible lending failures ...

Fraudulent adviser faces court

JAMIE WILLIAMSON  |  WEDNESDAY, 28 SEP 2016
... advice. The matter is being prosecuted by the Commonwealth Director of Public Prosecutions. ASIC accepted an enforceable undertaking from Nakhl in November 2013 that permanently bans him from providing financial services and restricts him from managing ...

ASIC accepts EU from Perth advice firm

ALEX BURKE  |  TUESDAY, 13 SEP 2016
ASIC has accepted an enforceable undertaking from a Perth financial advice firm. The regulator expressed concerns about compliance management at Neo Financial Solutions and has requested the group engage with an independent expert to assess these issues. ...

ASIC accepts EU from My Adviser

KERRIE SYDEE  |  WEDNESDAY, 24 AUG 2016
ASIC has accepted the enforceable undertaking (EU) of My Adviser after an investigation found one of its representatives had provided poor and unauthorised advice on a number of instances. The investigation, which commenced in January 2016, looked at ...

ASIC compensation plummets despite surveillance success

ALEX BURKE  |  MONDAY, 8 AUG 2016
The amount of consumer compensation ASIC secured decreased by 91% in the six months to June 30, 2016, despite increased surveillance outcomes almost across the board. ASIC's latest enforcement report shows that the regulator secured $13.4 million in ...

ASIC needs to focus on prevention, not cure

ALEX BURKE  |  THURSDAY, 21 JUL 2016
ASIC needs to work directly with the advice industry and develop more proactive regulation, according to Affinia chair Steve Helmich. Speaking on a panel at the 2016 FSC Leaders Summit in Melbourne, Helmich said that ASIC's role is to ensure favourable ...

MFSIM execs use $143.5m in client money to repay debts

KERRIE SYDEE  |  TUESDAY, 24 MAY 2016
... order a maximum pecuniary penalty of $200,000 to be paid by each individual. ASIC has also accepted the enforceable undertaking (EU) of Countplus aligned adviser, Brian Dobson, which permanently bans Dobson from providing or being involved with the provision ...

Banned SMSF adviser charged for misappropriating $1.8m

ALEX BURKE  |  FRIDAY, 20 MAY 2016
... that Nowak was an undischarged bankrupt. At the same time, ASIC has also announced it has accepted an enforceable undertaking (EU) from SMSF advice provider Ascentiv Group. The regulator said that it had "identified concerns about the appropriateness ...

ASIC accepts EU of former adviser

KERRIE SYDEE  |  WEDNESDAY, 18 MAY 2016
ASIC has accepted an enforceable undertaking (EU) of former Victorian financial adviser and authorised representative of the Synchron dealer group, Michael Melamed. The EU follows concerns from ASIC that Melamed's advice about life insurance, during ...