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Showing 1601 - 1610 of 6884 results for "Act2"

ASIC red tape unit welcomed

ANNABELLE DICKSON  |  WEDNESDAY, 1 SEP 2021
The government has welcomed the corporate regulator's plan to establish a unit with the sole aim of reducing regulatory costs for businesses and consumers. The red tape unit will be responsible for identifying and implementing changes to how ASIC administers ...

Consumer group slams super self-assessments

ELIZABETH MCARTHUR  |  MONDAY, 30 AUG 2021
Super Consumers Australia has slammed super funds' member outcomes assessments (MOAs), finding several funds claiming to be acting in members' best interests even when fees are high and performance is lacklustre. Super Consumers Australia looked ...

Former adviser hit with criminal charges

KARREN VERGARA  |  MONDAY, 30 AUG 2021
After breaching his ASIC banning order, a former financial adviser is facing criminal charges. Lawrence Toledo, who is a former representative of Sentinel Private Wealth, has been charged with breaching a financial services banning order on three occasions ...

CountPlus profit plummets

ANNABELLE DICKSON  |  FRIDAY, 27 AUG 2021
The ASX-listed advice and accounting group recorded a 59% drop in net profit to $7.1 million as grandfathered commissions came to a halt and COVID-19 impacted the business. Regulatory reform, namely the FASEA exam, also impacted the business however ...

ASIC to ease hardline stance

KARREN VERGARA  |  FRIDAY, 27 AUG 2021
The federal government is expecting ASIC to tone down its regulatory powers even though the Hayne Royal Commission exposed its ineffectiveness at enforcing corporate law. Federal treasurer Josh Frydenberg overnight released a new set of expectations ...

ASIC outlines corporate plan

ANNABELLE DICKSON  |  THURSDAY, 26 AUG 2021
The corporate regulator will be focusing on economic recovery, reducing consumer harm, cyber security and industry compliance over the next four years in order to strengthen the financial system. ASIC's 2021-25 Corporate Plan focuses on economic recovery ...

Fear of greenwashing worse than reality: Report

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 AUG 2021
With much hysteria around greenwashing as ESG becomes increasingly important to investors, S&P has issued a new report theorising concern about greenwashing is often misplaced. In the report, S&P noted that greenwashing or sustainability-washing concerns ...

Westpac cops $10.5m fine

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
ASIC has ordered Westpac to pay a $10.5 million fine after the High Court's decision that found two Westpac subsidiaries provided unlicensed personal financial advice. Westpac Securities and BT Funds Management were found to have breached their ...

Benefits of advice reforms yet to materialise

KARREN VERGARA  |  TUESDAY, 24 AUG 2021
The myriad of regulatory reforms in the financial advice industry is raising concerns about the effects on the accessibility and quality of advice. This is according to Rainmaker's latest analysis of the ASIC Financial Adviser Register, which saw almost ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
Australians have lost over $70 million to investment scams in the first half of 2021, a figure that is expected to double by the end of the year with increased reports of cryptocurrency scams, imposter bond scams and Ponzi schemes, according to the ...