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Showing 151 - 160 of 3023 results for "Compliance"

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
... result, the panel has forced Mr. M to be supervised by an independent person with expertise in financial services laws compliance to pre-vet the next 10 SoAs provided to a retail client. The written direction also forces an audit of 10 past SoAs that ...

ASIC nudges trustees on member fund compliance

ANDREW MCKEAN  |  TUESDAY, 27 JUN 2023
... their existing product receives an increase, she said. Notwithstanding these responsibilities, ASIC's review identified compliance gaps. In fact, all but one of the 12 trustees failed to ensure their practices or disclosure aligned with their legal obligations. ...

Government cracks the whip on multinationals

ANDREW MCKEAN  |  MONDAY, 26 JUN 2023
... between the integrity of Australia's tax system and supporting genuine commercial activity while being mindful of compliance costs. Leigh assured that the Treasury will continue to engage with industry stakeholders to ensure the new rules operate ...

Advisers embrace less back-office burden

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... Pham, private wealth adviser at Lipman Burgon & Partners, said anything that streamlines administration for clients and compliance obligations for advisers is welcome. "This means we can focus more on managing and servicing our clients. Bringing the ...

Morrison Securities pays infringement over DTRs

CHLOE WALKER  |  THURSDAY, 22 JUN 2023
... Morrison's conduct as being at the high end of "careless". Although, the MDP did not consider that Morrison had a poor compliance culture overall, it noted that Morrison's conduct indicated that speed of orders to the market was prioritised over ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... conduct and breaching the Code of Ethics. The FSCP ultimately ordered Mr. S's licensee to perform three successive compliance audits in relation to personal advice provided to retail clients, with a minimum of 12 months between each successive audit ...

OnePath fined over MySuper bungle

JAMIE WILLIAMSON  |  WEDNESDAY, 14 JUN 2023
... fall short of our expectations," APRA deputy chair Margaret Cole said. "We expect trustees to have robust governance, compliance and risk management frameworks embedded and operationalised to prevent, detect and swiftly remediate potential breaches of ...

FAAA awards Gwen Fletcher Memorial prize

KARREN VERGARA  |  WEDNESDAY, 14 JUN 2023
... advising in the real world." Canberra-based financial adviser Brigitta Hembrow Gersey and Melbourne-based senior advice compliance analyst Danica Lozada of Industry Fund Services won the nods in 2022. FAAA chief executive Sarah Abood said the CFP Certification ...

Suncorp wage scandal comes to a head

ANDREW MCKEAN  |  FRIDAY, 9 JUN 2023
... justified an Enforceable Undertaking. "This matter demonstrates the importance of employers placing a high priority on compliance, including with all clauses in their Enterprise Agreements. Suncorp's incorrect application of particular clauses has led ...

FSC updates TMD template for fund managers

ANDREW MCKEAN  |  THURSDAY, 8 JUN 2023
... management industry. This follows ASIC's recent regulatory action against Spaceship and Mitrade Global for inadequate compliance with the Design and Distributions Obligation (DDO) regime and deficiencies in their TMDs. The updated FSC template is designed ...