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Showing 111 - 120 of 891 results for "Failing"

ASIC sues NAB for failing customers

ELIZA BAVIN  |  MONDAY, 18 NOV 2024
The Australian Securities and Investments Commission (ASIC) has filed proceedings against National Australia Bank (NAB) in the Federal Court. ASIC alleges NAB failed 345 of its customers at their most vulnerable when they applied for hardship support ...

ASIC escalates super fund enforcement in 2025

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
ASIC warned it will turn up the heat on superannuation funds by adding new enforcement priorities and flagging that it will hold directors on trustee boards to the same standards as those in big companies. While the corporate regulator heightened its ...

Second bidder enters SelfWealth takeover talks

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... four months after the regulator found it failed to comply with certain financial services laws. The breaches included failing to comply with client money reporting rules, lodge financial statements on time, abide by ASIC derivative transaction rules ...

HNWIs demand alternatives, platforms lack access

KARREN VERGARA  |  WEDNESDAY, 13 NOV 2024
As high-net-worth (HNW) investors increasingly demand alternative assets, platforms are failing to facilitate access to these opportunities, according to Praemium. Nearly one third of HNW investors want to diversify into alternatives but their platforms ...

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
... a possibility of exposing private information of consumers, especially when engaging with a third-party AI model, also failing to disclose the AI involvement to consumers making their claims, ASIC said. The technology is also being used in income/expense ...

APRA questioned on super performance test

ELIZA BAVIN  |  FRIDAY, 25 OCT 2024
... performance of superannuation products against tailored benchmarks, is a key measure and year on year, the number of products failing the performance test is decreasing," he said. "As part of our ongoing efforts to improve transparency in superannuation ...

Property fund management firm loses AFSL

MATTHEW WAI  |  TUESDAY, 15 OCT 2024
... of publication. Although it wasn't specific, the reason(s) behind the cancellation of Aretean Capital's AFSL relate to failing to be an AFCA member; failing to lodge annual compliance certificates on time; failing to comply with a condition of the licence ...

ASIC seeks $27m penalty against AustralianSuper

ELIZA BAVIN  |  THURSDAY, 10 OCT 2024
... multiple AustralianSuper accounts and to merge those accounts, where doing so was in the member's best interests. ASIC said failing to merge duplicate accounts within a fund can have significant financial consequences for members who end up paying multiple ...

AFCA consults on revised superannuation death benefits

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
... called out the incompetency of super funds' internal dispute resolution process. An example of which involved a fund failing to handle complaints and delayed death benefits and insurance claims.

Elanor shakes up leadership, sells down fund

KARREN VERGARA  |  TUESDAY, 10 SEP 2024
... Elanor's platform, having acquired it for $38 million last year. Elanor has yet to file its 2024 financial year reports, failing to meet its ASX Listing Rule deadline. Securities have been suspended since August 23. Unaudited results show it had ...