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Showing 1411 - 1420 of 3918 results for "law"

Sophistication: More than money

ELIZABETH MCARTHUR  |  TUESDAY, 7 JAN 2020
... into question. Stephen Glenfield told Financial Standard : "This relates to standard 1 - complying with the intent of the law. In the guidance to the Code we give an example of an adviser relying on accounting certificates that declare the person to ...

Government edges towards regulator cooperation

HARRISON WORLEY  |  TUESDAY, 7 JAN 2020
... including sharing information "to the maximum extent practicable", and notifying each other whenever one believes a breach of the law has occurred under the responsibility of the other. The government said the new provisions would allow the regulators ...

Government ignored ASIC over LIC carve-out

HARRISON WORLEY  |  MONDAY, 6 JAN 2020
Documents released under Freedom of Information laws reveal the government ignored ASIC's advice to not create a carve-out for LICs and LITs in the Future of Financial Advice conflicted commission ban. According to documents published last week under ...

Six charged in micro pump and dump scheme

ELIZABETH MCARTHUR  |  MONDAY, 6 JAN 2020
The US Securities and Exchange Commission announced that six people have been charged in an international microcap fraud scheme. The scheme allegedly generated $35 million of illegal sales of stock in at least 45 microcap companies. Those charged include ...

FASEA responds to concerns

ELIZABETH MCARTHUR  |  FRIDAY, 20 DEC 2019
... raised concerns with Standard 3 highlighting that the intention of the Code is inconsistent with the existing Corporations Law which contemplates the ability to manage and/or disclose conflicts rather than not acting where there is a conflict," FASEA ...

Consultation opens for design, distribution guidance

HARRISON WORLEY  |  FRIDAY, 20 DEC 2019
The financial services industry has just over three months to influence ASIC's guidance on the new design and distribution obligations. ASIC has opened consultation on draft guidance for the new design and distribution obligation laws, which are set ...

Google to pay ATO $481.5m

ALLY SELBY  |  THURSDAY, 19 DEC 2019
... the efforts of our ATO officers under the Tax Avoidance Taskforce and the introduction of the Multinational Anti-Avoidance Law (MAAL), Australian sourced sales by these digital giants will now be returned to Australia's tax base," the ATO said. New taxation ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... companies had an interest." Westpac is directly liable for these breaches, which attracts a significant civil penalty, because the law imposes a specific liability on licensees for the breaches of their financial advisers, ASIC said. This is the result ...

18 misconceptions about FASEA code

ELIZABETH MCARTHUR  |  THURSDAY, 19 DEC 2019
... make sense." He added that the standards within the code do not exceed the ethical standards expected of professions such as law, medicine and accounting. Patterson's 18 misconceptions are: FASEA's guidance involves legislating beyond its authority ...

Westpac served class action

JAMIE WILLIAMSON  |  WEDNESDAY, 18 DEC 2019
Westpac has confirmed it was served with a class action on behalf of shareholders in relation to the AUSTRAC investigation. The class action has been filed by Phi Finney McDonald. The claim relates to market disclosure issues connected to Westpac's ...