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Showing 131 - 140 of 603 results for section

AFA rebukes ideological drive against conflicted remuneration

HARRISON WORLEY  |  WEDNESDAY, 27 FEB 2019
The Association of Financial Advisers came out swinging in a public response to the Royal Commission's final report this morning. Speaking at the Sydney leg of the association's annual Connect Tour, AFA general manager of policy and professionalism ...

Adviser asked to cover regulator costs

KANIKA SOOD  |  MONDAY, 18 FEB 2019
... the Corporations Act 2001. "Between 29 April 2016 and 9 November 2018, both Advanced Wealth and Mr Gardner contravened section 911A of the Corporations Act 2001 (Corporations Act) by providing financial advice to clients to set up SMSFs to facilitate ...

Former Macquarie advisers have bans reduced

JAMIE WILLIAMSON  |  TUESDAY, 12 FEB 2019
... between August 2015 and March 2017, ASIC said. While the AAT acknowledged both men had acted dishonestly and breached section 1041H of the Corporations Act, the tribunal said it is satisfied that neither of them will engage in similar conduct in the ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... responsible for nominating the default fund for their employees by way of entertainment and sporting events, he said. Section 68A of the SIS Act provides that a trustee of an RSE or an associate of a trustee must not supply or offer to supply goods or ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... breach of the protocol (or equivalent obligations) equivalent to a breach of financial services laws for the purposes of section 912A of the Corporations Act, Hayne suggested. He has also called for quarterly reporting of serious compliance concerns ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... million in premiums. Hayne today recommended the government amend the Insurance Contracts Act to rid such instances. " Section 29(3) of the Insurance Contracts Act should be amended so that an insurer may only avoid a contract of life insurance on the ...

Norwegian pension fund drops WHSP

HARRISON WORLEY  |  FRIDAY, 18 JAN 2019
... Norges said its investment management division advised Washington H. Soul Pattinson met the criteria for exclusion through section 2, part 2 of the fund's exclusion guidelines. The guidelines stipulate that any mining companies or power producers deriving ...

ClearView director dismissed of charges

KANIKA SOOD  |  MONDAY, 14 JAN 2019
... Directorate of the Royal Papua New Guinea Constabulary. The police laid charges for one count of conspiracy to defraud under section 407 of the Criminal Code 1974 (Papua New Guinea). ClearView said in an August 2 statement: "The matters relating to Mr ...

ASIC and Westpac court battle sees mixed outcome

DARREN SNYDER  |  FRIDAY, 4 JAN 2019
... ensure the financial product advice was provided "efficiently, honestly and fairly", meaning it was in contravention of section 912A(1)(a) of the Corporations Act 2001. The judgment was handed down on 21 December 2018. It came about two years to the ...

CRO departs corporate super fund

HARRISON WORLEY  |  THURSDAY, 20 DEC 2018
The chief risk officer at Australia's largest corporate superannuation fund will link with Equity Trustees in the New Year. Owen Brailsford will join Equity Trustees in February 2019 as the firm's chief risk officer. He is leaving his post at ...