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Showing 1231 - 1240 of 4171 results for "Action"

Mawhinney not dishonest, just irresponsible: ASIC

ELIZABETH MCARTHUR  |  FRIDAY, 12 MAR 2021
... distributed a press release which claimed the court had heard that ASIC confirmed no dishonesty or fraud on his part. "ASIC's action has ruined the lives of hundreds of Mayfair 101's investors who invested over $210 million, for many it being their life ...

Frontier zeroes in on poor culture

KARREN VERGARA  |  THURSDAY, 11 MAR 2021
... of the metrics Frontier will look at include how clients are treated in terms of transparency around communication and action following an adverse event, together with evidence of diversity, inclusion, and equality initiatives across the workplace. It ...

Allianz to rectify past deficiencies

ELIZA BAVIN  |  WEDNESDAY, 10 MAR 2021
Allianz Australia has been ordered to rectify its past weaknesses in its risk culture, risk governance and risk management, which APRA told the court was persistent and serious. APRA agreed to accept a court enforceable undertaking (CEU) from Allianz ...

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... fees, she said. ASIC has worked closely with the prudential regulator throughout, Chester said, adding that its recent action against Rest was the result of a tip-off from APRA. "ASIC's enforcement will tilt strongly towards harm-targeted deterrence ...

Quasi-mergers in APRA's sights

ELIZA BAVIN  |  WEDNESDAY, 10 MAR 2021
The prudential regulator has acknowledged concerns over "quasi-mergers" raised by Senator Andrew Bragg. In a letter provided to Financial Standard, Bragg contacted APRA in February to express concerns over the "quasi-merger" between Maritime Super and ...

APRA calls out poor group insurance practices

KARREN VERGARA  |  TUESDAY, 9 MAR 2021
... categories. APRA deputy chair Helen Rowell wants to see more evidence of trustees taking these concerns seriously or else action will be taken. Rowell expects trustees to have appropriately designed default insurance that balances costs and the needs ...

Link faces another lawsuit

KARREN VERGARA  |  TUESDAY, 9 MAR 2021
... failed to maintain appropriate levels of liquidity and protect the interests of investors. Leigh Day sent its Letter Before Action (LBA) to Link, claiming that the fund's failure "had a long genesis and was avoidable, had Link done its job properly". ...

Mayfair 101 wins case, questions remain

ELIZABETH MCARTHUR  |  MONDAY, 8 MAR 2021
A physical education teacher turned property investor has lost a suit against Mayfair 101, but the details of the case demonstrate how novice investors could be confused by the firm's marketing. Stuart Klees sued M101 Holdings, claiming that he was ...

Women hit hardest by pandemic

KARREN VERGARA  |  FRIDAY, 5 MAR 2021
The coronavirus pandemic hit women's job security and productivity the hardest, taking a significant toll on their mental health compared to men, new research shows. Two in three women tended to suffer from mental health issues compared to half ...

ASIC takes Statewide Super to court

JAMIE WILLIAMSON  |  THURSDAY, 4 MAR 2021
Just days after taking action against Rest, ASIC has alleged Statewide Super charged insurance premiums to members who didn't hold group cover. ASIC has commenced Federal Court proceedings against the South Australia-based industry superannuation ...