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Showing 161 - 170 of 1703 results for "Breach"

FSCP orders adviser to undertake further education

KARREN VERGARA  |  WEDNESDAY, 5 FEB 2025
... to as "Mr. D", provided advice that led to a client exceeding the concessional contribution cap by about $15,000. "The breach occurred because the relevant provider failed to take into account the client's defined benefit scheme even though income the ...

Jones instigates CSLR review, levy hits $70m

KARREN VERGARA  |  FRIDAY, 31 JAN 2025
As new estimates show that financial advisers will have to fork out $70 million to fund the Compensation Scheme of Last Resort (CSLR) for the next financial year - breaching the $20 million cap - Treasury is now calling for a review of the controversial ...

The regulatory pendulum has swung too far: FSC

ANDREW MCKEAN  |  FRIDAY, 31 JAN 2025
... add $800 million a year to industry productivity. Among them are reforms under ASIC's remit, including simplifying the breach reporting regime and a rethink of design and distribution obligations. Some fall under APRA's remit, including a long-awaited ...

Chief executive misbehaviour stifles investment returns

ANDREW MCKEAN  |  THURSDAY, 23 JAN 2025
Secret affairs, sexual harassment, and systemic abuses of power by chief executives and senior leaders have the potential to erode investment returns, according to Acadian Asset Management. Events like these can shake company valuations, demonstrating ...

Financial services deregulation boosts economy by $2bn: FSC

KARREN VERGARA  |  WEDNESDAY, 22 JAN 2025
... forming a "red tape razor gang responsible for slashing inefficient regulation," the FSC said. This includes simplifying the breach reporting regime and providing a level playing field under the foreign investment framework. For the breach reporting ...

TPB welcomes stay of sanctions against disqualified agents

MATTHEW WAI  |  THURSDAY, 16 JAN 2025
The Administrative Review Tribunal (ART) has declined to stay or suspend sanctions imposed by the Tax Practitioners Board (TPB) against disqualified tax agents in three separate cases. All three cases relate to misconduct on the part of tax agents ...

SEC fines private equity firms for recordkeeping failures

KARREN VERGARA  |  TUESDAY, 14 JAN 2025
Blackstone, KKR, and Carlyle are among the private equity firms that will collectively pay the Securities and Exchange Commission (SEC) US$63.1 million for failing to keep appropriate communications records. They join a growing list of financial institutions ...

Major climate group suspends operations

ROSE MARY PETRASS  |  TUESDAY, 14 JAN 2025
... 2024, the firm was named in a Texas lawsuit alongside State Street and Vanguard, claiming their climate activism was a breach of antitrust laws. BlackRock told FS Sustainability the case was "baseless". In its letter to clients, the asset manager said ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
Sanlam Private Wealth, the Australian arm of the South African Sanlam Group, has admitted to breaching licensee obligations by "failing to adequately supervise" its authorised representatives and corporate authorised representatives (CARs), following ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
The Federal Court has found that collapsed contracts for difference (CFD) issuer, Union Standard International Group (USG) and two of its former corporate authorised representatives, BrightAU Capital (trading as TradeFred) and Maxi EFX Global AU (trading ...