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Showing 161 - 170 of 522 results for "Powers"

QSuper board takes AFCA decision to court

KANIKA SOOD  |  THURSDAY, 16 APR 2020
... documents: "The central issue in this appeal initially appeared to be whether AFCA's decision was invalid because the powers purportedly exercised by it under s 1055 of the Corporations Act 2001 (Cth) (CA) contravened Ch III of the Commonwealth of ...

Chief economist update: Credit ratings downgrades versus fiscal salvation

BENJAMIN ONG  |  THURSDAY, 9 APR 2020
... again, as Al Jazeera reports: "The type of lockdown seen in other countries is not possible because the government's powers to control the population are restricted by the constitution, which was effectively imposed on Japan by the United States ...

Former financial adviser permanently banned

HARRISON WORLEY  |  TUESDAY, 7 APR 2020
... services and credit businesses. Gibbs is the first person to be permanently banned under recent extensions to ASIC's banning powers as a result of the February passage of the Stronger Regulators Act. Previously, the ban only served to stop people from ...

Super funds face penalties over early release failures

ELIZABETH MCARTHUR  |  TUESDAY, 7 APR 2020
... members." Funds being "directed" to merge is not off the table, Frydenberg said. "The government expects APRA to exercise those powers in circumstances where it is in the best interest of fund members to do so," he added. Frydenberg and the Morrison ...

Hume calls for diversity in super fund mergers

HARRISON WORLEY  |  TUESDAY, 31 MAR 2020
... a super fund has been managed in a way that would prevent members accessing their money promptly, APRA's directions powers - especially sections 131D and 133 of the SIS Act, updated last year by the Parliament - gives APRA new teeth that may well ...

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... their failure to take reasonable steps to prevent Storm Financial from giving poor advice meant they did not exercise their powers as directors with the care and diligence a reasonable person would have employed. The initial determination was reached ...

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 ...