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Showing 181 - 190 of 539 results for "Supervision"

ASIC cancels slew of AFSLs

JAMIE WILLIAMSON  |  FRIDAY, 3 APR 2020
... Professional Services licences after surveillance determined advisers were providing poor advice under inadequate supervision. About a week later ASIC took action against one its individual advisers, accepting an enforceable undertaking from a representative ...

APRA heat map update in doubt

HARRISON WORLEY  |  MONDAY, 23 MAR 2020
... which involve "intensive engagement with regulated entities" were the most likely to be paused. "APRA's refocused supervision effort will involve frequent communication with entities, monitoring key financial settings, such as capital and liquidity ...

Chief economist update: The corona crash of 2020

BENJAMIN ONG  |  FRIDAY, 13 MAR 2020
... the total amount that can be borrowed has been raised to 50% of stock of eligible loans. In addition, ECB banking supervision allowed banks to lower capital ratios... (Factset). The Bank of Japan (BOJ) is expected to follow its brethren when its Board ...

Foreign fund managers granted licensing relief

HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
... obligations which apply to AFS licensees, including financial requirements, with ASIC satisfied similar regulatory supervision and outcomes will be achieved by equivalent overseas requirements. ASIC commissioner Cathie Armour said the regulator's new ...

Government moves to cut work test

HARRISON WORLEY  |  FRIDAY, 6 MAR 2020
... later sitting) Bill 2020: Improving Flexibility for Older Australians, which will amend the Superannuation Industry (Supervision) Regulations 1994 in an effort to help older Australians boost their retirement savings by adding flexibility to the superannuation ...

IOOF faces new class action

ELIZABETH MCARTHUR  |  TUESDAY, 25 FEB 2020
... however, were unsuccessful with the Federal Court finding that IOOF did not contravene the Superannuation Industry Supervision Act.

SMSF auditors in firing line

ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
... competency exam. ASIC praised the Australian Taxation Office for its assistance under the Superannuation Industry (Supervision) Act (SIS Act). "ASIC and the ATO work closely together as co-regulators of SMSF auditors," ASIC said. "The ATO monitors SMSF ...

AMP to pay $5m for churn

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... formulate a forward looking compliance plan in a bid to prevent rewriting conduct in the future and improve training and supervision of advisers. Acknowledging the court decision, AMP said: "While insurance rewriting was not a common practice by financial ...

Robo-advice to be worth US$1.4 trillion

ELIZABETH MCARTHUR  |  TUESDAY, 4 FEB 2020
... to step into this gap a decade ago. They offer algorithm-driven financial planning services with little to no human supervision." In 2017, assets under management in the robo-advice sector amounted to US$240 billion globally, according to the Statista ...

Sargon runs out of steam

KANIKA SOOD, JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2020
... months. At the time, Sargon said the acquisition would take it to over $53 billion of assets under trusteeship and supervision. Grow Super is one of the new funds that used Diversa Trustees as its trustee. As of April end last year, Sargon had the biggest ...