Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 171 - 180 of 890 results for "Failing"

XTBs to be delisted following collapse

CASSANDRA BALDINI  |  TUESDAY, 7 NOV 2023
... December 2022 but have been suspended in recent weeks. The two entities supporting the XTBs entered liquidation after failing to secure a buyer in September. WLP Restructuring partners Alan Walker and Glenn Livingstone were appointed administrators shortly ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
The corporate regulator is taking TelstraSuper to the Federal Court for allegedly failing to comply with internal dispute resolution requirements. ASIC alleges that 40% of the corporate superannuation fund's responses to complainants during a specific ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... previously known as McFaddens Securities, and Brava Capital, formerly Dayton Way Securities, face multiple charges for failing to submit financial accounts to ASIC. Specifically, ASIC alleges that both APC Securities and Brava Capital neglected to file ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... does not name the organisations in its report. One unnamed life insurer blamed its old policy administration system for failing to communicate premium rate increases to customers over several years that impacted four different policies. Insurers must ...

ANZ breached disclosure laws in 2015 raise: Court

CHLOE WALKER  |  MONDAY, 16 OCT 2023
... found it breached continuous disclosure laws in 2015. The Court found that ANZ contravened continuous disclosure laws by failing to tell the market that underwriters had filled a $790 million shortfall when raising $2.5 billion from institutional investors. ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
Many large licensees are failing to proactively remediate clients in a fair and timely manner, operating under a framework that lacks appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... NAB will pay $2.1 million in a fine issued by the Federal Court over knowingly overcharging customers certain fees and failing to tell them. The court has ordered the bank pay the penalty for continuing to charge periodic payment fees it knew was not ...

Trading platform pays $830k over suspicious trades

JAMIE WILLIAMSON  |  THURSDAY, 21 SEP 2023
... systems during the period. ASIC's Market Disciplinary Panel (MDP) determined that Interactive Brokers was negligent in failing to identify the suspicious trades, and reckless in allowing it to continue even after ASIC had raised concerns. It added that ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
... extensions for up to five times the value of their collateral. In June 2022, ASIC flagged its concerns to Bit Trade for failing to comply with DDO. Despite this warning, Bit Trade continues to offer its margin product to Australian customers without ...

Boards must crack down on cybersecurity: ASIC

CASSANDRA BALDINI  |  TUESDAY, 19 SEP 2023
... cybersecurity risk, and that controls are implemented to protect key assets and enhance cyber resilience," he commented. "Failing to do so could mean failing to meet your regulatory obligations." Longo reinforced that actions taken should align with ...