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Showing 161 - 170 of 478 results for "ASIC Commissioner"

AAT refuses Allegra AFSL

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... raised serious doubts in the AAT's mind as to whether Allegra would be able to deal honestly," the AAT said. ASIC Commissioner Danielle Press said the decision reinforces the recent licensing reforms under the Financial Sector Reform (Hayne Royal Commission ...

SMSF fraudster sentenced

ELIZABETH MCARTHUR  |  FRIDAY, 27 NOV 2020
... cases of fraud to take action against dishonest conduct especially where savings for retirement are at risk," ASIC commissioner Sean Hughes said. Gore also faces three charges of acting in the management of three corporations (MOGS, Sleipner and Arion) ...

Responsible entity fined $2m

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
... noted in handing down his judgment that the circumstances involved catastrophic losses sustained by investors. ASIC commissioner Cathie Armour said: "The Federal Court outcome sends an important deterrent message to other responsible entities, as well ...

ASIC opens consultation on scaled advice

ANNABELLE DICKSON  |  TUESDAY, 17 NOV 2020
... years, highlighting the 14.9% decrease in financial adviser numbers on the Financial Adviser Register to 21,284. ASIC commissioner Danielle Press added that good-quality affordable personal advice may help consumers make better financial decisions, especially ...

ASIC's Chester spills Crennan truth

ANNABELLE DICKSON  |  WEDNESDAY, 28 OCT 2020
... to write to a minister and say that in order to gain greater confidence that appropriate action was taken." ASIC commissioner Cathie Armour said the regulator accepts the failings while Peterson went on to say ASIC's leadership structure is a "total ...

DDO top of ASIC's agenda

ELIZA BAVIN  |  TUESDAY, 27 OCT 2020
... COVID-19 but ASIC said it is top of the priority list for 2021. Speaking to the annual Credit Law Conference, ASIC commissioner Sean Hughes said DDO reforms remain a top priority for the regulator. "The design and distribution obligations, which now ...

ASIC to curb huge CFD losses

KARREN VERGARA  |  FRIDAY, 23 OCT 2020
... the opening price, the buyer makes a profit. If the trade price decreases, the seller then makes the profit. ASIC commissioner Cathie Armour said the leverage ratio limits aim to decrease the size and speed of retail clients' losses by reducing CFD ...

Societe Generale fined over client breaches

ANNABELLE DICKSON  |  WEDNESDAY, 21 OCT 2020
... client money received was held in segregated client money trust accounts. This breach cost the company $25,000. ASIC commissioner Cathie Armour said protecting client funds is critical to investor confidence and market integrity. "The law is very clear ...

Transition away from LIBOR continues

ELIZABETH MCARTHUR  |  TUESDAY, 13 OCT 2020
... towards the orderly transition of billions of dollars' worth of financial contracts in the derivatives market," ASIC commissioner Cathie Armour said. "Industry wide adoption will significantly reduce the risks of contractual disputes, litigation and ...

RBA, ASIC provide CHESS guidance

ALLY SELBY  |  FRIDAY, 2 OCT 2020
... efficient, resilient, reliable and scalable to meet existing and future needs of the market and participants," ASIC commissioner Cathie Armour said. ASIC and the RBA, as well as the broader Council of Financial Regulators and the ACCC, were closely supervising ...