Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 141 - 150 of 813 results for "Corporations Act"

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... raised that the life insurance start-up was operating without a licence, thus contravening section 911A of the Corporations Act. ASIC said it was also concerned iExtend had been offering to pay life insurance premiums for individuals in exchange for ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... changes to two categories, AFCA lead ombudsman Shail Singh told the Member Forum this morning. Chapter 7 of the Corporations Act looks at whether an investor is retail or non-retail. "For non-retail investors, there are two categories - wholesale and ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
... planning. Climate-related financial disclosure requirements would be drafted as civil penalty provisions in the Corporations Act. It is suggested this would "reduce uncertainty for reporting entities and encourage companies to take best efforts to use ...

Link revises financial reports after ASIC review

ANDREW MCKEAN  |  FRIDAY, 3 NOV 2023
... improve the benchmark of financial reporting, ensuring compliance with legal standards. To monitor adherence to the Corporations Act 2001 and Australian Accounting Standards, the regulator frequently conducts risk-based reviews of financial statements ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... Securities). ASIC said it is actively targeting breaches of financial reporting obligations as required by the Corporations Act. "Failure to lodge audited financial statements may result in cancellation of a licensee's Australian financial services ...

Local fund managers lag global peers: FSC

CHLOE WALKER  |  FRIDAY, 27 OCT 2023
... global attractiveness and competitiveness of their funds management sectors." The CCIV was established under the Corporations Act in July last year to boost Australia's share of global funds, more closely matching its strengths as a financial services ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
... earned less than $80,000 a year. In recent years, ASIC has also successfully brought proceedings for breach of the Corporations Act against several CFD licensees operating in Australia, with penalties in excess of $75 million. In May the regulator issued ...

AAT overturns ASIC ban on investment guru

CASSANDRA BALDINI  |  FRIDAY, 20 OCT 2023
... relevant provisions of the legislation. "As a result, I am convinced that the applicant has breached s 911C of the Corporations Act, a financial services law. This contravention alone justifies the discretion to impose a ban under s 920A(1)(e) of that ...

AMP shareholder class action settlement slashed

KARREN VERGARA  |  MONDAY, 9 OCT 2023
... plaintiffs argue that AMP was obliged to disclose such information when it first became aware of it under the Corporations Act, and consequently resulted in losses to shareholders who purchased or acquired an interest in the securities between 10 May ...

Provide Capital ordered to produce documents

CASSANDRA BALDINI  |  THURSDAY, 5 OCT 2023
... under the watchdog's surveillance in March last year, after concerns were raised that it breached both the Corporations Act 2001 and the ASIC Act. Court documents state that the alleged breach was connected to Provide's offering of investment ...