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Showing 141 - 150 of 1639 results for "Investigation"

Former financial adviser charged in alleged $160k super fraud case

ANDREW MCKEAN  |  FRIDAY, 9 MAY 2025
... of over $160,000 from their self-managed super funds (SMSFs). A statement from Police NSW said officers began an investigation after five individuals reported unauthorised access to SMSFs in November last year. On Tuesday morning, police executed a search ...

Macquarie reprimanded again for derivatives compliance failures

KARREN VERGARA  |  WEDNESDAY, 7 MAY 2025
... occasions between January to September 2022, allowing three of its clients to place suspicious orders. In a follow-up investigation, ASIC found that Macquarie failed to prevent 11 suspicious orders being placed on the electricity futures market via Macquarie ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
ASIC has cancelled the Australian financial services licence of Brite Advisors after the now-defunct investment and pension firm failed to compensate a client, triggering a payout under the Compensation Scheme of Last Resort (CSLR). The regulator cancelled ...

Shield Master Fund terminated, new receivers for Keystone Asset Management

KARREN VERGARA  |  WEDNESDAY, 16 APR 2025
... was available on Macquarie Wrap, and Equity Trustees' NQ Super and Super Simplifier platforms. ASIC began its investigation in February 2024 to halt new investment offers and then made interim stop orders on four product disclosure statements for ...

AustralianSuper says cyberattack losses total $750k

ELIZA BAVIN  |  MONDAY, 14 APR 2025
... their accounts accessed in the cyberattack earlier this month, 10 suffered a financial loss totalling $750,000. "Our investigation into this criminal act found a total of 10 members had a combined $750,000 transferred out of their accounts, which were ...

Falcon Capital, First Guardian fund to be wound up

MATTHEW WAI  |  FRIDAY, 11 APR 2025
... Although subject to "some limited exceptions", most investors were not able to access their funds. Following an ASIC investigation thereafter, it found that many investors were advised to roll their superannuation assets into a retail choice superannuation ...

ASIC asks for input on reportable situations, IDR dashboards

JAMIE WILLIAMSON  |  THURSDAY, 10 APR 2025
The corporate regulator plans to introduce two interactive dashboards that would track firm-level reportable situations and internal dispute resolution (IDR) data to push financial firms to lift their game. ASIC is consulting on plans to publish dashboards ...

Breaches continue as Cbus confirms 'unusual behaviour'

ELIZA BAVIN  |  TUESDAY, 8 APR 2025
Cbus has confirmed it has reported to APRA an "unusually high spike in log-in attempts", impacting around 85 member accounts, which occurred several days after the cyber-attack that impacted other super funds. "At this stage of our inquiries, there ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... providing financial services, including financial advice, in 2017 to retail and sophisticated investors. ASIC's investigation into UGC found it advised prospective clients to establish SMSFs and invest into speculative schemes, which Joel Hewish ...

Cybercriminals attack major super funds

ANDREW MCKEAN  |  FRIDAY, 4 APR 2025
... actively investigating the situation to determine the facts and the extent of any impact to Hostplus. Whilst the investigation remains ongoing, we can confirm that no Hostplus member losses have occurred," a spokesperson said. "Our top priority is the ...