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Showing 141 - 150 of 273 results for %22Financial Conduct Authority%22

UBS fined $51m for reporting breaches

KARREN VERGARA  |  THURSDAY, 21 MAR 2019
... £27.6 million ($51.1m) fine for breaching reporting rules stretching nearly a decade. UK regulator the Financial Conduct Authority found UBS did not provide complete and accurate information relating to about 87 million reportable transactions. A further ...

KPMG brings remediation regtech to Australia

HARRISON WORLEY  |  TUESDAY, 5 MAR 2019
... transparency solutions to Australian financial institutions. The firm was founded in 2013 after the Financial Conduct Authority (FCA) took action against the UK finance industry over a host of issues. According to KPMG, Recordsure can help financial ...

ASIC gears up for Brexit

KANIKA SOOD  |  MONDAY, 11 FEB 2019
... in a statement. ASIC said it will enter into new memorandums of understanding (MoU) with the UK's Financial Conduct Authority (FCA). This is because the FCA is set to take over from the European Securities and Markets Authority (ESMA), the overseeing ...

FASEA makes adviser exam adjustments

JAMIE WILLIAMSON  |  THURSDAY, 7 FEB 2019
The Financial Adviser Standards and Ethics Authority released the final legislative instrument for the financial adviser exam, revealing several concessions to be introduced. In clarifying the content of the exam, topic of Financial Adviser Regulatory ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... coupled with the removal of grandfathered commissions - will likely lead to a dramatic increase in up-front fees, Lifespan Financial Planning chief executive Eugene Ardino argues. With up-front fees currently averaging $2,000 to $4,000, advisers are ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... Authority. Responding to the Royal Commission's final report into Misconduct in the Banking, Superannuation and Financial Services Industry, Treasurer Josh Frydenberg said a capability review would be launched into APRA and led by Graeme Samuel. ...

Global Financial Innovation Network launches

KARREN VERGARA  |  FRIDAY, 1 FEB 2019
... committed to supporting innovation in the interest of consumers. Participating members include the: Financial Conduct Authority of the UK, Ontario Securities Commission of Canada, Hong Kong Securities and Futures Commission, Monetary Authority of Singapore ...

ASIC terminates managed accounts provider AFSL

KARREN VERGARA  |  FRIDAY, 1 FEB 2019
... been generating consistently good results, it said. ASIC banned Jade Capital director James Clinnick from providing financial services four years for engaging in misleading and deceptive conduct. The AFSL cancellation took effect on 11 January 2019. ...

New rules for UK retirement income products

JAMIE WILLIAMSON  |  TUESDAY, 29 JAN 2019
... strict new investing rules, with proposed regulation designed to increase consumer engagement. The Financial Conduct Authority is concerned about consumers moving into drawdown and holding their funds in investments that will not meet their needs, namely ...

ASIC permanently bans former Apogee adviser

KARREN VERGARA  |  TUESDAY, 18 DEC 2018
A former Apogee Financial Planning representative has been permanently banned from providing financial advice after ASIC found he illegally took $1.4 million from superannuation accounts. ASIC's investigation of Ahmed Saad found he engaged in dishonest ...