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Showing 1551 - 1560 of 8733 results for "Regulator"

APIR reports surge in new financial products

ANDREW MCKEAN  |  FRIDAY, 11 AUG 2023
APIR Systems has noted a significant rise in the registrations of new financial products, particularly of managed funds and managed accounts. According to APIR chief executive Chris Donohoe, while product registrations were slightly down from the previous ...

Active Super to face action over greenwashing

RACHEL ALEMBAKIS  |  FRIDAY, 11 AUG 2023
... fund was invested in Russian assets after the invasion of Ukraine while purporting otherwise to members. The markets regulator has commenced civil penalty proceedings alleging "misleading conduct and misrepresentations to the market relating to claims ...

APRA finalises framework for MySuper products

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
APRA has released a technical determination, aiming to standardise the amalgamation of MySuper product performance histories. The announcement marks the culmination of consultations held in April 2023. The Superannuation Technical Determination No.1 ...

ASIC sues debt management firm, director

CHLOE WALKER  |  THURSDAY, 10 AUG 2023
... behaviour which was, in all the circumstances, unconscionable, it said. ASIC deputy chair Sarah Court said the corporate regulator is "deeply concerned" by the impact on customers in this matter. "To have customers engage a debt management company and ...

Wall Street firms slugged $442m for recordkeeping breach

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
BNP Paribas Securities, Moelis & Company, and Wells Fargo are among 11 firms that copped massive fines that totalled US$289 million ($442m) after the Securities and Exchange Commission (SEC) found that they used personal apps to conduct business. From ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI  |  WEDNESDAY, 9 AUG 2023
In launching legal proceedings against eToro, the regulator said it's going after the top dog in the contract for difference (CFD) market to send a message to the industry about the importance of the design and distribution obligations (DDO). During ...

Hejaz debuts Australia's first Islamic pension product

ANDREW MCKEAN  |  WEDNESDAY, 9 AUG 2023
Hejaz Group has introduced the first ever Islamic pension product, alongside a new super offering, advancing its commitment to offer comprehensive wealth services tailored for the Muslim community in Australia. Hejaz Islamic Super and Pension provides ...

Treasury consults again on FFSP exemptions

JAMIE WILLIAMSON  |  TUESDAY, 8 AUG 2023
... existing legislation it hopes to introduce in April 2024. These are creating a professional investor exemption; comparable regulator exemption; market maker exemption; and fit and proper person test exemption. Under the professional investor exemption ...

Sequoia hires chief operating officer

JAMIE WILLIAMSON  |  TUESDAY, 8 AUG 2023
The former chief distribution officer at Praemium is starting a new gig with Sequoia Financial Group, alongside two other new hires from ASIC and WT Financial Group. Martin Morris will commence as the wealth group's chief operating officer on August ...

Government cracks down following PwC scandal

CASSANDRA BALDINI  |  TUESDAY, 8 AUG 2023
Tax agents found evading laws could face over $780 million in penalties following the ongoing fallout of the PwC scandal. In what's being called the biggest crackdown on tax agent misconduct in Australian history, the government has bumped up fines ...