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Showing 1491 - 1500 of 8730 results for "Regulator"

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... Bobbob customers. When customers withdrew from the product, their investment (plus interest) was returned in AUD. The regulator said to market the product, the Bobbob website featured an infographic comparing the interest rates available to customers ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
ANZ Bank has been ordered to pay $15 million by the Federal Court for misleading customers over the funds available to them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... consider regulatory action where licensees fail to deliver fair and timely remediation to affected consumers." Further, the regulator warned that the findings of this review are relevant given the recent passing of the Financial Accountability Regime ...

US regulator fines DWS US$25m for greenwashing, AML offences

RACHEL ALEMBAKIS  |  TUESDAY, 26 SEP 2023
... professionals failed to follow the ESG investment processes that it marketed." Relating to the AML allegations, the regulator said DWS caused mutual funds it advised to fail to develop and implement a reasonably designed AML program to comply with the ...

Qantas Super confirms merger plans

JAMIE WILLIAMSON  |  MONDAY, 25 SEP 2023
Having reviewed its current scale and potential for growth, the $8.4 billion superannuation fund has confirmed it intends to explore merger options. Following speculation last week, Qantas Super said the board has reviewed the fund's size, growth ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
After ignoring an Australian Financial Complaints Authority (AFCA) determination, which was then escalated to the Federal Court, NextGen Financial Group is now in the process of winding up. WJ & V Drakoulis Super, the trustees of the SMSF that sued ...

APRA moves to ensure improved member outcomes

ANDREW MCKEAN  |  FRIDAY, 22 SEP 2023
... to enhance member outcomes in superannuation, including requiring trustees to justify business-related expenses. The regulator's changes seek to align expenditure requirements more closely with the best financial interest duty and for the retirement ...

Iress Wealth appoints interim chief

ELIZABETH FRY  |  FRIDAY, 22 SEP 2023
Iress has confirmed a mini reshuffle of its leadership team as Harry Mitchell chief executive of wealth management takes up a broader role, splitting his time between Australia and the UK. Consequently, the trading technology firm has promoted operating ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
NAB will pay $2.1 million in a fine issued by the Federal Court over knowingly overcharging customers certain fees and failing to tell them. The court has ordered the bank pay the penalty for continuing to charge periodic payment fees it knew was not ...

Trading platform pays $830k over suspicious trades

JAMIE WILLIAMSON  |  THURSDAY, 21 SEP 2023
... experience trader who had worked in the industry, ASIC added. The client's trading triggered ASIC alerts, which the regulator notified Interactive Brokers of in October 2021, and triggered 44 'marking the close' alerts on Interactive Brokers' own systems ...