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Showing 161 - 170 of 516 results for "Powers"

Financial regulators poised for action

HARRISON WORLEY  |  MONDAY, 16 MAR 2020
... to operate to the best of its capability. Corporate regulator ASIC is kicking off the action, using its market integrity powers to limit the amount of trades allowed to be executed each day by the big players in the equity market. Directions issued under ...

Chief economist update: The C word

BENJAMIN ONG  |  TUESDAY, 3 MAR 2020
... But it's the sharp sell-off in the equity markets - from New York to Rio and ol' London town - that propelled the powers-that-are into a "concerted" action. Yes Virginia, each and every one of them knew what was coming as the rate of infections ...

ATO cracks down on SMSFs

ELIZABETH MCARTHUR  |  FRIDAY, 21 FEB 2020
... ATO's review of its enforcement after the Royal Commission found a lack of consistency in the application of enforcement powers. Additionally, after ATO enforcement action on SMSFs, a significant portion of those SMSFs' subsequent compliance was below ...

The PDS is weak: Rice Warner

ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
... eliminating poor performing MySuper products and ASIC's new design and distribution obligations and product intervention powers, Rice Warner predicts financial products will meet a higher standard in Australia. "In time, advisers will be able to focus ...

Class action accuses NAB of super rip-off

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 JAN 2020
... care, skill and diligence required of a prudent super trustee and that they did not perform their duties and exercise their powers in the best interest of beneficiaries. It also alleges that the trustees failed to give priority to the interests of beneficiaries ...

Chief economist update: The rise and fall of oil

BENJAMIN ONG  |  THURSDAY, 9 JAN 2020
... 15.3% (Brent) a couple of weeks after on easing tensions. Perhaps financial markets have learned their lesson. Perhaps the powers that are have done their sums and realised that war is a zero sum game. At the end of the day, oil prices respond to the ...

18 misconceptions about FASEA code

ELIZABETH MCARTHUR  |  THURSDAY, 19 DEC 2019
... Patterson said. FASEA's interpretation of the code is irrelevant because FASEA won't be enforcing the code: Separation of powers, he explained, does not lessen the relevance of FASEA. The code has too many areas of uncertainty: Patterson argues there ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... Financial Crime Program Review, which is currently underway. In launching an investigation, APRA is able exercise its legal powers that were strengthened following the 2017 CBA Prudential Inquiry. The APRA investigation will be conducted simultaneously ...

APRA slaps extra conditions on Avanteos

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
... inquiries raise additional matters of prudential concern." In this instance, APRA is unable to wield its new civil penalty powers under the SIS Act because of the historic nature of the conduct. Avanteos self-reported its breaches to APRA in May 2018 ...

Enforcement appetite is working: APRA

ELIZA BAVIN  |  MONDAY, 2 DEC 2019
... reductions in costs and, in some cases, changes of trustee as a result," he said. "However, when coupled with new regulatory powers and penalties provided by the Parliament earlier this year, our heat map means APRA is now much more well-equipped to ...