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Showing 181 - 190 of 280 results for "Enforceable Undertaking"

ASIC acted only when claims hit "tsunami level"

LAURA MILLAN  |  MONDAY, 21 OCT 2013
A former employee of the Australian Securities and Investments Commission (ASIC) has condemned the fact that the regulator acted only when the volume of complaints "reached tsunami level." In a submission to the Senate inquiry on ASIC's performance ...

Former Trio director provides enforceable undertaking

JAMES FERNYHOUGH  |  FRIDAY, 18 OCT 2013
A former director of Trio Capital, Kurt Groeneveld has provided the prudential regulator with an enforceable undertaking excluding him from acting as a superannuation trustee for three and a half years. The Australian Prudential Regulation Authority ...

ASIC accepts EU from two advice firms

LAURA MILLAN  |  TUESDAY, 24 SEP 2013
... undertakings from two financial planning firms. Melbourne adviser James Thomas Banfield has entered into an enforceable undertaking with ASIC that prevents him from providing financial services for four years. ASIC's investigation found that between ...

Judge orders end of class action against WealthSure

LAURA MILLAN  |  MONDAY, 23 SEP 2013
... expected to advance their claims as applicants in their own right." WealthSure recently entered into an enforceable undertaking with ASIC and is undertaking a full reform of the business after the regulator showed concerns over poor compliance and failure ...

ACCC approves Perpetual offer for The Trust Company

LAURA MILLAN  |  THURSDAY, 19 SEP 2013
... substantial lessening of competition in any relevant market." The decision came after the ACCC accepted a court enforceable undertaking from Perpetual to divest The Trust Company's ownership of a 13.4% shareholding in competitor company Equity Trustees. ...

WealthSure undertakes major reform of the business

LAURA MILLAN  |  TUESDAY, 3 SEP 2013
WealthSure is undertaking a full reform of its business after it entered into an enforceable undertaking following concerns by the Australian Securities and Investments Commission (ASIC) over poor compliance and failure to monitor advisers' actions. ...

ASIC accepts enforceable undertaking from WealthSure

LAURA MILLAN  |  MONDAY, 2 SEP 2013
... Financial Services and the former chief executive of both companies, Darren Pawski, will be put into an enforceable undertaking (EU) until 2018. The Australian Securities and Investments Commission (ASIC) has accepted an EU from both companies after ...

PIS could face class action over "inadequate" advice

LAURA MILLAN  |  THURSDAY, 29 AUG 2013
... investors that the structure of the scheme meant this was not necessarily the case." PIS was subject to an enforceable undertaking from December 2010 to March 2012, but last July the Australian Securities and Investments Commission (ASIC) ordered the ...

APRA takes Trio director to Court

LAURA MILLAN  |  TUESDAY, 13 AUG 2013
The Australian Prudential Regulation Authority (APRA) has started proceedings in the Federal Court of Australia seeking the disqualification of former Trio Capital director David Millhouse. APRA is asking the Court to disqualify Millhouse from acting ...

Centrepoint spent $4.9 million in client claims

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
... 30, but the preliminary report indicates that Centrepoint also spent $500,000 to cover the costs of the enforceable undertaking ant the monitoring that the Australian Securities and Investments Commission (ASIC) imposed to the group. The enforceable ...