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Showing 171 - 180 of 284 results for "Enforceable undertaking"

Macquarie rebukes advice, compliance concerns

LAURA MILLAN  |  TUESDAY, 8 JUL 2014
... and training. This work is ongoing," Macquarie said in a written statement. The group entered into an enforceable undertaking (EU) with ASIC in January 2013 and it added that it is in "regular discussion with ASIC." The response was prompted by an article ...

ISA to change Compare the Pair ads

JAMES FERNYHOUGH  |  TUESDAY, 24 JUN 2014
... change to methodology," he told Financial Standard. "We've sat down and worked with ASIC. There was no enforceable undertaking." ASIC Commissioner Greg Tanzer said: 'ASIC wants consumers to be aware that when deciding to change their superannuation fund ...

Financial Wisdom to face class action for poor advice

LAURA MILLAN  |  MONDAY, 16 JUN 2014
... customers by Don Nguyen and Anthony Awkar." "There was no obligation under the [CBA Financial Planning enforceable undertaking] CFP EU to remediate advice given by Financial Wisdom Limited advisers because the CFP EU applied to CFP only." CBA informed ...

IOOF and SFGA union rattles top ranks

LAURA MILLAN  |  MONDAY, 2 JUN 2014
... business: "it has built all the components of an independent dealer group, it has never gone through an enforceable undertaking, it is large in funds under advice and it is well regarded for the quality of its advice, compliance and profitability." Looking ...

Queensland advice firm falls foul of regulator

MARK SMITH  |  THURSDAY, 15 MAY 2014
ASIC has accepted an enforceable undertaking (EU) from Queensland-based financial services firm LCL Capital after it found failings in the way the companyA monitored and supervised its advisers. ASIC's investigation came after a review of the advice ...

ASIC dictates seven-year ban for rogue CBA adviser

LAURA MILLAN  |  MONDAY, 7 APR 2014
... backdated four records of advice contained on client files. Zaicew's conduct was identified as part of an enforceable undertaking (EU) accepted by ASIC in October 2011 which required Commonwealth Financial Planning to conduct a review of its risk management ...

Parliament passes more nuanced SMSF penalties

JAMES FERNYHOUGH  |  THURSDAY, 13 MAR 2014
... disqualifying the trustee, applying to court for a civil penalty or requiring the trustee to enter an enforceable undertaking. "This has been unsatisfactory with these penalties often out of proportion to the relevant breach of the superannuation laws." ...

ASIC accepts EU from forex broker over prohibited IMA

STAFF WRITER  |  TUESDAY, 25 FEB 2014
ASIC has accepted an enforceable undertaking from online foreign exchange broker Forex Financial Services Pty Ltd (Forex FS). ASIC's investigation found that between March 2010 and October 2011, Forex FS offered an account known as an individually managed ...

ASIC takes most action against small business owners

LAURA MILLAN  |  MONDAY, 3 FEB 2014
The Australian Securities and Investments Commission (ASIC) took most of its criminal, civil and administrative actions against small business owners in the second half of 2013. The ASIC Enforcement Report from July to December 2013 reveals that the ...

BNP Paribas enters EU with ASIC

LAURA MILLAN  |  WEDNESDAY, 29 JAN 2014
BNP Paribas (BNP) has entered into an enforceable undertaking with the Australian Securities and Investments Commission (ASIC) in relation to potential misconduct involving the Australian Bank Bill Swap Rate (BBSW). In November 2012, BNP reported to ...