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Showing 151 - 160 of 890 results for "Failing"

Why fund managers are missing out on investment mandates

ELIZA BAVIN  |  WEDNESDAY, 10 APR 2024
... worried that as fund managers become increasingly subject to global compliance regulations, the risk of their organisation failing their compliance tasks would increase. Moreover, executives believed these failings were highly likely to translate into ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... death benefits and insurance claims. Once AFCA raised the issue with the fund, the trustee blamed its administrator for failing to meet agreed service level agreement timeframes, as well as resourcing issues and internal process failures. The super fund ...

Director facing $13k fine in first of its kind action from ASIC

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... Australian Securities and Investments Commission (ASIC) has commenced the first prosecution action against a director for failing to comply with the obligation to have a director identification number (director ID). ASIC did not name the director, but ...

Court dismisses ASIC lawsuit against Finder

KARREN VERGARA  |  FRIDAY, 15 MAR 2024
... against Finder Wallet for allegedly providing unlicensed financial services, breaching product disclosure requirements, and failing to comply with design and distribution obligations (DDO) in relation to Finder Earn. ASIC argued that Finder Earn was ...

Hostplus rejects anti-competitive behaviour claims

KARREN VERGARA  |  TUESDAY, 12 MAR 2024
... fund from a limited cohort that often have undisclosed commercial arrangements with the owner of the software platform. "Failing to appropriately inform employees of the full suite of options available to them, which critically includes the option to ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... Corporations Act by accepting payments from Positive RealEstate, and RM Capital contravened s963F of the Corporations Act by failing to take reasonable steps to ensure SMSF Club did not accept the payments. Justice Jackson concluded that "ASIC has established ...

ASIC takes further action on Prospero

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... up Prospero Markets "on just and equitable grounds", shortly after its AFS Licence was suspended in December 2023 for failing to lodge its 2023 audited financial accounts. Investors have contacted ASIC concerned about their money. ASIC believes that ...

'ASX Wolf' Tyson Scholz bankrupt in ASIC crackdown

ANDREW MCKEAN  |  FRIDAY, 1 MAR 2024
... services business in Australia as per the Corporations Act. He was ordered to pay $456,296.64 in legal costs, but after failing to do so, ASIC issued a bankruptcy notice and subsequently filed a creditors petition. Unperturbed, Scholz, who boasts 116,000 ...

VanEck failed to disclose influencer's role in ETF launch: SEC

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2024
... fee, documents show. The SEC said VanEck also made misrepresentations to its own board about the arrangement, including failing to disclose the sliding scale. It also said that a PR firm retained by VanEck advised the public would likely assume Portnoy ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
... treatment by their superannuation fund. However, recent surveillance and enforcement indicates that some superannuation are failing to meet basic member service standards. Notably, ASIC has initiated civil penalty proceedings against TelstraSuper for ...