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Showing 181 - 190 of 4816 results for "ASIC"

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
Financial advisers are set to pay $400 less in the ASIC funding levy, saving the industry $8 million in total, according to new estimates from the Financial Advice Association Australia (FAAA). Based on two legislative instruments dated November 3 ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
... clients affected by legal breaches by eight retail OTC derivative issuers, $13 million of which was paid by Binance alone. ASIC said the payments have been made to more than 2000 retail investors since March 2021. In addition to Binance, Capital Com ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
... to limit any potential liability, creating confusion in the market." The Australian Securities and Investments Commission (ASIC) "will play an important role in this transitional period, to ensure best practice reporting, and that all efforts are made ...

Potential reporting relief for trustees: ASIC

CHLOE WALKER  |  TUESDAY, 7 NOV 2023
ASIC is proposing to extend the temporary relief for superannuation trustees' disclosure and reporting consistency obligations for two years. ASIC is seeking feedback on the potential extension, including whether the current arrangement is operating ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... satisfy the definition of a "qualified tax relevant provider" without having to undertake specific courses, according to ASIC. The corporate regulator said it made a one-off update to the Financial Advisers Register on November 3 to record that individuals ...

Sterling Income Trust executives charged

CHLOE WALKER  |  MONDAY, 6 NOV 2023
... product or service. The maximum penalty for this type of offence is 10 years' imprisonment and/or a fine of nearly $100,000, ASIC said. The Sterling Income Trust was established in 2012 as a funding vehicle for the Perth-based Sterling Group. From 2016 ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... number of customer calls in total, however, increased to over 210,00 during the period. The bank is currently in trouble with ASIC for allegedly neglecting more than 200 customer hardship requests over a seven-year period. Westpac blames it on "technology ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... 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 period did not comply ...

Link revises financial reports after ASIC review

ANDREW MCKEAN  |  FRIDAY, 3 NOV 2023
Link Group amended its FY23 financial report that was released in August, following an ASIC review that identified potential "material misstatements." ASIC pinpointed discrepancies in the recorded value of Link's Fund Solutions business assets and provisions ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...