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ASIC permanently bans adviser who stole client funds

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2024
... conduct related to a financial product or service. At the time, he was the director of Veridian Securities and Veridian Markets, now in administration. He was also found to have continued to provide services through Veridian Markets after its AFSL authorisation ...

ASIC extends intervention orders against predatory lenders

CHLOE WALKER  |  MONDAY, 8 JAN 2024
... credit contracts in a bid to protect vulnerable retail investors. The orders, which were first implemented in July 2022, will now be extended until 1 October 2032, or until they are revoked. According to ASIC, these short-term credit and continuing credit ...

FEAL board welcomes Ian Patrick

ELIZABETH FRY  |  TUESDAY, 19 DEC 2023
... deliver on its purpose to empower world-class leaders in the superannuation industry. Aside from Patrick, the board line-up now consists of BUSSQ chief executive Damian Wills, HESTA chief experience officer Lisa Samuels, and TelstraSuper chief executive ...

EQT operations, finance chief steps down

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... wish him all the best in his future endeavours," she said. Gentry previously worked as the chief financial officer at the now-defunct property development, construction and investment management company Grocon. Before that, he held positions that included ...

Former adviser misled ASIC during investigation: Court

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... pre-IPO companies like Steppes Alternative Asset Management, Trinus Impact Capital, and ASAF Critical Metals and its local, now defunct subsidiary Aus Streaming. Ridgway facilitated the trade of unlisted shares between his clients at significantly different ...

Citi broadens custody offering

ANDREW MCKEAN  |  MONDAY, 18 DEC 2023
... affording investors the flexibility to access funds via an exchange or unlisted distribution channel. The global custodian now distinguishes itself as one of the few Australian providers equipped to handle "end-to-end servicing" for the full spectrum ...

ASIC takes action on EverBlu, director

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... manage conflicts of interest. The case will also look at Blumenthal's duties as a director of ASX-listed Creso Pharma (now Melodiol Global Health). The proceeding, due to take place in the Federal Court, seeks orders to disqualify Blumenthal from ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... almost 30 years old, and a substantial amount of regulatory change has occurred since 1995. In addition, financial advisers are now recognised as Qualified Tax Relevant Providers (QTRPs), and are regularly providing tax advice to clients," Abood said. ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... Insignia said the decision was a mutual agreement between the business and Mota, with the chief executive saying he feels now is the "right inflection point to provide the business with fresh perspective to continue the journey." The question now is ...

Angela Jackson to helm annual Chief Economists Forum

CHLOE WALKER  |  FRIDAY, 15 DEC 2023
... Australia (FAAA) for CPD hours aligned to legislated CPD categories. Tickets for the annual Chief Economists Forum events are now available. It will take place in Sydney on Tuesday, February 20 at the Four Seasons, and in Melbourne on Thursday, February ...