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Showing 151 - 160 of 1907 results for "disclosure"

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
... don't have policies in place that consider consumer fairness or bias. Many also don't have policies governing the disclosure of use of AI; only 10 did. AI is commonly used in credit decisions and management, marketing, fraud detection, insurance ...

ASIC secures win against HCF Life

ELIZA BAVIN  |  TUESDAY, 29 OCT 2024
... Additionally, ASIC said section 47 of the Insurance Contracts Act (ICA) prevents insurers from excluding coverage for non-disclosure of a pre-existing condition if the customer was not aware of it when taking out the insurance. Justice Jackman said that ...

Advisers must prioritise Conflicts Priority Rule: AFCA

KARREN VERGARA  |  MONDAY, 28 OCT 2024
... annual AFCA Forum last week. AFCA typically uses Regulatory Guide 175 Licensing: Financial product advisers-Conduct and disclosure to assess cases. Merely disclosing the conflict is insufficient. "You really need to look at how that related-party product ...

CSLR warns adviser levy will balloon

KARREN VERGARA  |  FRIDAY, 25 OCT 2024
... instructions​ and act in clients' best interest. Separately, a relief that allows financial advisers to rely on website disclosure information instead of providing a Financial Services Guide (FSG) when dealing in financial products has been welcomed ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... client assets have gone. The market watchdog initially alleged the fund contained misleading statements, inadequate disclosure across its investments and was not as diversified as it claimed to be. The investigation is ongoing. Next Gen operated a financial ...

Super fund fees exploit Australians' low financial literacy

ANDREW MCKEAN  |  WEDNESDAY, 16 OCT 2024
... Australians paid over $32 billion in fees to super funds, according to Rainmaker Information. "Regulatory guidance exists for disclosure documents or a fund's MySuper dashboard, but when it comes to how fees are presented on websites, social media ...

Monochrome launches Ethereum ETF

ANDREW MCKEAN  |  TUESDAY, 15 OCT 2024
... technical intricacies associated with acquiring, holding, and designing a secure storage solution, according to a product disclosure statement. "By investing in Ethereum Interests, an investor can gain exposure to Ethereum without having to personally ...

FCX granted 'historic' market licence by ASIC, RBA

ANDREW MCKEAN  |  TUESDAY, 8 OCT 2024
... won't operate continuously but will have liquidity events, as set by companies and managed investment schemes, with disclosure and operating rules governing the operation of market events. Digital Asset co-founder Yuval Rooz said traditionally, private ...

Federal Court quashes ANZ appeal

KARREN VERGARA  |  THURSDAY, 3 OCT 2024
The Federal Court threw out ANZ's appeal against a ruling it breached continuous disclosure laws relating to a 2015 institutional share placement and upheld the bank pay the $900,000 penalty. ASIC took action on ANZ in 2018, alleging it failed to notify ...

Regulators to clamp down harder on greenwashing

ANDREW MCKEAN  |  FRIDAY, 27 SEP 2024
... Butler-Beatty said Australia is likely to follow the UK's lead in tightening ESG-related rules, after the climate-related disclosure regulation was brought in. "The prevention and mitigation of greenwashing remains a regulatory priority globally, as ...