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Showing 141 - 150 of 4795 results for "ASIC"

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
... its right to continue charging fees and failed to provide services to members efficiently. This led to a violation of the ASIC Act in connection with fees for no service misconduct. Agreed facts state that between December 2015 and November 2021, OnePath ...

ASIC confirms adviser registration deadline

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
After receiving Royal Assent on November 27, ASIC is urging all financial advisers who service retail clients to register before the 1 February 2024 final deadline. From this date, advisers otherwise known as relevant providers who provide personal ...

BBY manager charged with aiding and abetting

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
ASIC charged another former employee of BBY with aiding and abetting the dishonest conduct of the stockbroking firm. ASIC alleges that Yat Nam (April) Yuen, who worked in roles such as manager of strategy, facilitated the transfer of large sums of client ...

ASIC forced to pay James Mawhinney's legal costs

JAMIE WILLIAMSON  |  TUESDAY, 28 NOV 2023
ASIC has been ordered to pay the costs Mayfair 101 managing director James Mawhinney incurred during the regulator's failed attempt at bringing an expanded case against him. The order follows the Federal Court of Australia's decision last month to reject ...

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON  |  MONDAY, 27 NOV 2023
... and the Disability Discrimination Act 1992. If there were government intervention, the consultation also asks whether it be ASIC or the Australian Human Rights Commission that be given responsibility for overseeing and enforcing obligations related to ...

Inflation problem is homegrown: Bullock

KARREN VERGARA  |  FRIDAY, 24 NOV 2023
... there. But we expect it to take another two years for inflation to fall that much again and move below 3%." At the recent ASIC Annual Forum, Bullock lauded the RBA's modus operandi of rapidly hiking interest rates since May 2022, signalling that ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
... in the market for financial services to ensure that conduct of the kind which has occurred in this case does not occur." ASIC had proposed to the court that Mercer be fined $20 million, while Mercer claimed a penalty of $8.5 million was sufficient, adding ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
ASIC has accepted a court enforceable undertaking from iExtend Holdings Company (iExtend) after investigating concerns that it was operating without an AFSL. The undertaking also relates to iExi Pty Ltd, which trades as iExtend. Documents show the investigation ...

Small, large entity regulation needs balance: APRA

KARREN VERGARA  |  WEDNESDAY, 22 NOV 2023
... was done to build that system; the responsiveness; we've been able to maintain confidence in the [system]," he told the ASIC Annual Forum this morning. While the major banks are raking in massive profits from a higher interest rate environment, many ...

ASIC freezes out former Magnolia Capital director

ANDREW MCKEAN  |  WEDNESDAY, 22 NOV 2023
ASIC has banned former Magnolia Capital Group director Mitchel Atkins from managing corporations and providing financial services. Atkins was a director of Magnolia Capital, which went bankrupt in 2022, owing unsecured creditors millions of dollars. ...