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Showing 181 - 190 of 890 results for "Failing"

AMG Super terminates MySuper offer

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
... Super first failed the test in 2021. The MySuper product was then closed to new members on 19 August 2022, ahead of it failing for the second time later that month. It is intended the closure will take place at February 2024 end. AMG Super is run by ...

Ninety-seven super products fail performance test

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
... five products from OneSuper. Insignia also featured again here, with three of Retirement Portfolio Service's products failing. Meantime, three of Crescent Wealth's four investment options failed, as did two from Smart Future Trust's smartMonday ...

FSCP issues slap on the wrist to adviser

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
... non-existent," Miller said. In the third case, Mr. X provided "layered advice" to three clients regarding insurance advice, failing to adequately consider each client's objectives, needs and financial situation or base all judgements on their relevant ...

Wall Street firms slugged $442m for recordkeeping breach

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... Signal to discuss deals and other businesses of their employers, which amounted to violating federal securities laws. Failing to maintain and preserve required records, as a result, has deprived the SEC to obtain such communications when it came to conducting ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI  |  WEDNESDAY, 9 AUG 2023
... during the Royal Commission. Recently, MLC Life Insurance was hit with a $10 million fee for misleading customers and failing to provide benefits. The life insurer was penalised by the Federal Court after it was found guilty of several breaches of the ...

Former director pleads guilty to super misuse

CASSANDRA BALDINI  |  FRIDAY, 4 AUG 2023
... lend those funds to his two companies. Naseeruddin admitted guilt to two charges of dishonest conduct and two charges of failing to fulfil his duties as a director in the best interests of his company. According to ASIC's findings, Naseeruddin urged ...

Advice from Shartru failed best interests duty, ASIC says

JAMIE WILLIAMSON  |  MONDAY, 31 JUL 2023
... Wealth Management, saying representatives have not been adequately supervised, leading to some financial advice provided failing the best interests duty. The additional conditions follow targeted surveillance by ASIC, during which it found Shartru was ...

Credit Suisse fined $575m by regulators

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
US and UK regulators have imposed fines of $575 million (US$388 million) on the bank for risk management and governance failures related to the collapse of Archegos Capital Management. The US Federal Reserve has issued Credit Suisse a $394.84 million ...

ASIC continues to reprimand SMSF auditors

CHLOE WALKER  |  MONDAY, 24 JUL 2023
... Specifically, the regulator has disqualified five SMSF auditors and imposed additional conditions on three SMSF auditors for failing to satisfy fit-and-proper person requirements or breaches of auditing standards, independence requirements and registration ...

Trustees lack urgency, strategy on RIC: Regulators

KARREN VERGARA  |  TUESDAY, 18 JUL 2023
... review finds that superannuation funds are shrugging off the urgency to offer robust retirement income strategies and are failing to integrate this mandate into their business plans. One year since the Retirement Income Covenant took effect, a joint ...