Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 121 - 130 of 333 results for "Watchdog"

Trust in big four improves

ALLY SELBY  |  MONDAY, 11 MAY 2020
... opportunity to repair reputational damage. "The Big 4 have been through the Royal Commission and Westpac having the financial watchdog AUSTRAC level 23 million allegations against it for breaches of money-laundering and counter-terrorism finance laws," ...

SMSF auditors come under fire

ALLY SELBY  |  THURSDAY, 23 APR 2020
The corporate watchdog has disqualified, suspended and added additional conditions to six different self-managed super fund auditors as it works to ensure the industry meets competency and expertise standards. Auditors from around the country suffered ...

Dealer group AFSL in limbo

ALLY SELBY  |  THURSDAY, 23 APR 2020
... Services' AFSL is on ice as the Administrative Appeals Tribunal reviews ASIC's decision. It comes after the corporate watchdog suspended the advisory firm's AFS licence on February 12 on the grounds that it had failed to comply with its licensee ...

Open banking to charge on

ELIZA BAVIN  |  TUESDAY, 7 APR 2020
The consumer watchdog has confirmed the launch of open banking will go ahead at the July 1 deadline as a means to help drive competition. ACCC chair Rod Sims said he believes a key driver of reform, and greatly improved competition in financial services ...

Queensland adviser barred from industry

ALLY SELBY  |  WEDNESDAY, 26 FEB 2020
A Queensland-based financial adviser has been permanently banned and an AFS licence canned, after the corporate watchdog found he had procured loans for his own use from SMSF clients. ASIC has banned William John Henry Houwing, also known as Jack Houwing ...

Consultation on mortgage broker best interests duty opens

ALLY SELBY  |  THURSDAY, 20 FEB 2020
The corporate watchdog has started a four week consultation process to draft guidance on the new best interests duty for Australia's mortgage brokers. From July 1 this year, mortgage brokers will be legally required to act in the best interests of consumers ...

Corrupt adviser banned, AFSL canned

ALLY SELBY  |  TUESDAY, 4 FEB 2020
... their financial circumstances and risk profiles, which Shapter then used to prepare his advice documents. The corporate watchdog found that Shapter issued Statements of Advice on the same day these initial enquiries were made, without appropriately enquiring ...

Consumer data right for open banking delayed

ALLY SELBY  |  FRIDAY, 20 DEC 2019
... next year. While the sharing of mortgage and personal loan data will be delayed further to November. The competition watchdog said the updated timeline would allow it to better test for any security or privacy issues that may arise. "The ACCC has formed ...

New Year, new APRA

ALLY SELBY  |  FRIDAY, 20 DEC 2019
... costs (and benefits) for proposed policy changes, and better communicate this process with APRA's stakeholders." The watchdog also saw room for improvement with KPI 2; communication with regulated entities is clear, targeted and effective. A biennial ...

APRA proposes new banking data policies

ALLY SELBY  |  FRIDAY, 6 DEC 2019
... ADI data. APRA executive director for cross-industry insights and data Sean Carmody said the proposal aligns with the watchdog's strategy of improving data transparency. "APRA is committed to increasing transparency about the institutions and industries ...