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Showing 141 - 150 of 338 results for "Watchdog"

Australians lose record amount to scams

ELIZABETH MCARTHUR  |  TUESDAY, 7 MAY 2019
... million to investment scams alone. The ACCC said it seems scammers are deliberately targeting vulnerable groups. The watchdog said part of the reason for the increase may be because scammers are updating old scams with new technology - with the ability ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... Adviser Network's advisers failed to demonstrate compliance with the best interest duty and related obligations. The watchdog found Statement of Advice (SOA) documents used by the group contained heavily templated wording and many files lacked evidence ...

NFP intra-fund advice is not a distribution channel

KARREN VERGARA  |  WEDNESDAY, 3 APR 2019
... discussion is still in its infancy, Bowtell did not specify what those changes will look like. She added that corporate watchdog ASIC is conducting a review of superannuation advice. It will be looking at in-house product bias and the extent to which ...

Industry Super Holdings slammed for weapons investment

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2019
... in a company that supplies weapons technology to Saudi Arabia from the global community. A study conducted by consumer watchdog and activist group SumOfUs reveals ISH, which is owned by industry superannuation funds, as a major investor in Electro Optic ...

Super funds eye intra-fund advice shake-up

KARREN VERGARA  |  FRIDAY, 15 MAR 2019
... said, adding that in five years' time super funds will not have the same models that are operating today. Corporate watchdog ASIC is also conducting a review of superannuation advice. It will be looking at in-house product bias and the extent to ...

New rules for UK retirement income products

JAMIE WILLIAMSON  |  TUESDAY, 29 JAN 2019
... into drawdown and holding their funds in investments that will not meet their needs, namely low return cash funds. The watchdog estimates the issue is costing people up to $46 million annually, with about 100,000 people entering drawdown each year without ...

APRA, ASIC welcome Productivity Commission's superannuation report

HARRISON WORLEY  |  FRIDAY, 11 JAN 2019
The regulators overseeing financial services in Australia have welcomed the Productivity Commission's recommendations to grant them additional powers. After they were blasted in the Productivity Commission's final report into the efficiency and competitiveness ...

Regulators in Productivity Commission firing line

HARRISON WORLEY  |  THURSDAY, 10 JAN 2019
ASIC and APRA both scored scathing assessments in the Productivity Commission's superannuation report. The regulators sharing responsibility for the oversight of Australia's finance system copped a grilling in the Commission's final report ...

ACCC close to approving tobacco-free certification

KARREN VERGARA  |  MONDAY, 31 DEC 2018
... organisation Tobacco Free Portfolios is pushing to trademark 'tobacco-free' with Australia's competition watchdog and for the benefit of investors. The ACCC said it is considering accepting Tobacco Free Portfolios' application for a certification ...

Super a money laundering target: AUSTRAC

HARRISON WORLEY  |  MONDAY, 17 DEC 2018
Australia's money laundering watchdog is warning superannuation funds they are serious targets for financial criminals, and provided advice on how to avoid getting stung. AUSTRAC released a guidance paper to the superannuation sector, outlining the ...