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Showing 111 - 120 of 333 results for "Watchdog"

Westpac found to be immature, reactive

ELIZA BAVIN  |  FRIDAY, 17 JUL 2020
... As a result of the AUSTRAC scandal, Westpac is facing a number of class actions, as well as inquiries by the corporate watchdog. In June 2020, the bank announced 38 staff members have faced punishment over the breaches, with the bank saying it should ...

Forex Capital to face Federal Court

ALLY SELBY  |  FRIDAY, 17 JUL 2020
The corporate watchdog has kicked off civil penalty proceedings in the Federal Court of Australia against contracts-for-difference and FX broker Forex Capital, as well as its sole director. If found guilty of all allegations, director Shlomo Yoshai ...

Foreign exchange broker banned

ALLY SELBY  |  TUESDAY, 30 JUN 2020
... was not adequately trained, and was not a competent, fit or proper person to provide financial services. The corporate watchdog also found Marsh engaged in unconscionable conduct. "This included engaging in high pressure sales strategies and unfair practices ...

Crypto investment opportunities outright scams: ASIC

ALLY SELBY  |  THURSDAY, 25 JUN 2020
... COVID-19 pandemic, with most cryptocurrency "opportunities" in particular panning out to be outright scams. The corporate watchdog saw a 20% increase in scam reports from March to May this year, with Australian consumers falling victim to opportunistic ...

APRA hands reins to ASIC in AUSTRAC case

ALLY SELBY  |  THURSDAY, 18 JUN 2020
APRA has delegated some of its enforcement powers to the corporate watchdog, as the two agencies continue their investigations into AUSTRAC's allegations against Westpac. To limit any overlap, the prudential regulator will hand over responsibilities ...

ASIC cracks down on investment manager

ALLY SELBY  |  MONDAY, 15 JUN 2020
... arm of a global investment management company has agreed to additional conditions imposed on its AFSL by the corporate watchdog. It comes after Societe Generale Securities Australia (SGSA) was criminally charged with breaching client money obligations ...

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... estimated the industry funding levy for 2019-20 will be $1571 per adviser, a 38% increase on the previous year. The corporate watchdog is looking to recoup $40.17 million from 3051 AFS licensees with 22,652 advisers. While ASIC states that the indicative ...

WAM responds to Keybridge claims

ALLY SELBY  |  FRIDAY, 5 JUN 2020
... technical relief in respect to its 6.9 cents per share offer as a result of the orders made in the proceedings. The corporate watchdog has extended the deadline for dispatching the bidder's statement to allow time for WAM to process its application. ...

Open banking accreditation now open

ALLY SELBY  |  WEDNESDAY, 27 MAY 2020
... that wants to receive Consumer Data Right data to provide products or services to consumers has to be accredited, the watchdog said. "We are encouraging businesses wanting to participate in the Consumer Data Right regime to apply for accreditation and ...

ASIC secures $160m in remediation over junk credit insurance

ALLY SELBY  |  THURSDAY, 14 MAY 2020
... publish claims ratios to check how CCI products provide value to consumers and ensure ongoing public transparency," the watchdog said. To safeguard consumers, ASIC has banned "cold-call" telephone sales of consumer credit insurance, worked with industry ...