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Showing 1 - 10 of 893 results for "Failing"

APRA opens consultation to governance reforms

KARREN VERGARA  |  TUESDAY, 16 JUN 2026
The prudential regulator is lifting the governance bar for superannuation funds and insurers with proposed changes to CPS 510, launching a consultation as part of its endeavours to stamp out 'poor practices'. APRA has laid out revised draft of prudential ...

Former fund manager admits to obstructing SEC probe

KARREN VERGARA  |  TUESDAY, 16 JUN 2026
... others." Days before entering the plea, the SEC slapped Franklin Templeton's Western AM with a US$100 million penalty for failing to detect and prevent its former staffer's cherry-picking scheme. The watchdog found the fund manager failed to take ...

ASIC secures record $300m penalty over 'egregious' CFD misconduct

VINNY VUCAGO  |  MONDAY, 15 JUN 2026
... he said. The judgment also marks the first time a civil penalty has been imposed on a financial services licensee for failing to ensure services were provided efficiently, honestly and fairly by marketing CFDs to customers in China despite the risk of ...

Accounting sector rejects shifting CSLR costs to SMSFs

VINNY VUCAGO  |  THURSDAY, 11 JUN 2026
... funding costs onto self-managed superannuation funds (SMSFs), warning the move would unfairly penalise investors while failing to address the root causes of consumer losses. In a joint submission, CPA Australia, Chartered Accountants Australia and New ...

Franklin Templeton's Western AM hit with US$100m penalty

KARREN VERGARA  |  TUESDAY, 9 JUN 2026
Franklin Templeton's Western Asset Management has been hit with a whopping US$100 million penalty for failing to detect and prevent its former co-chief investment officer's alleged cherry-picking scheme. The order follows the SEC's 2024 ...

More aggressive than ever: ASIC defends First Guardian investigation

RIDDHIMA TALWANI  |  FRIDAY, 5 JUN 2026
... Court against 26 defendants relating to these issues. This includes recent action against Equity Trustees for allegedly failing to meet its trustee obligations and not act in members' best financial interests when onboarding the First Guardian Master ...

Invesco, Trinetra IM strategies to wind up

KARREN VERGARA  |  WEDNESDAY, 3 JUN 2026
After failing to scale, Invesco's True Balance Fund and Trinetra Investment Management's emerging markets strategy are set to wind up. The multi-asset Invesco True Balance Fund, which had about $37.5 million in assets, will terminate on June 4. Application ...

Financial services failing to provide consistent outcomes: AFCA

MATTHEW WAI  |  FRIDAY, 22 MAY 2026
Latest findings from the Australian Financial Complaints Authority (AFCA) show that despite frameworks existing for consumer hardship, weaknesses arise in how those policies were implemented in practice. The eighth edition of the Systemic Issues Insight ...

Calls for CGT, negative gearing reforms 'unanimous': Mulino

VINNY VUCAGO  |  TUESDAY, 12 MAY 2026
... He said one of the clearest outcomes from those discussions was widespread agreement that existing policy settings were failing younger Australians. While refusing to disclose modelling or confirm whether the proposed measures would lower house prices ...

TelstraSuper did fall foul of IDR obligations: Federal Court

JAMIE WILLIAMSON  |  FRIDAY, 8 MAY 2026
... it of over 4000 contraventions in total. The Federal Court was satisfied TelstraSuper had breached its obligations by failing to respond to 125 of the 323 complaints it received between 22 October 2021 and 13 January 2023 within 45 days. In about 30% ...
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