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|... which allow litigation funders to operate outside the Act, without an AFSL. Frydenberg said the government wants more regulatory oversight of litigation funders. By removing the exemptions, litigation funders will be required to obtain an AFSL from ASIC ...|
|The ASX-listed regtech is raising $10 million to support international sales growth and product development, with existing investor and rich lister Richard White indicating support. Kyckr has received commitments for $8 million before costs via a new ...|
|A financial adviser who cycled through seven AFSLs in nine years has been banned after ASIC found he provided poor SMSF advice and based insurance advice on the commission he'd receive. The five-year ban follows ASIC surveillance of advice provided ...|
|The High Court in London has lifted an interim injunction preventing news organisations from publishing details of price discounts offered in the low-grade iron ore market by Australian mining giant Fortescue Metals Group (FMG). FMG had applied for ...|
|... trading. According to State Street, outsourced trading can help super funds and asset managers reduce costs, meet regulatory demands, improve transparency, keep up with rapid technological changes and access global liquidity sources. As super funds merge ...|
|... Josh Frydenberg announced today. The Treasurer said the government wants litigation funders to be subject to greater regulatory oversight. "Litigation funders are currently exempt from holding an AFSL and being categorised as a managed investment scheme," ...|
|... wealth of corporate affairs and public policy experience to the industry body at a time when it faces a barrage of regulatory, consumer and economic challenges. "Andrew's appointment follows an extensive national recruitment process, and the board ...|
|... out that according to APRA's controversial heat map, some small funds are performing strongly. "We predict increased regulatory pressure on funds to meet the needs of their members and increasing mergers at the larger end of the market, with a small ...|
|ASIC has cancelled the AFSL of a financial services provider and revoked its suspension of a separate AFSL. The regulator revoked the ASFL of NSW-based Tailormade Financial Strategies, effective 9 April 2020. ASIC said it cancelled the AFSL because ...|
|On Friday, Westpac filed its defence in the Federal Court in relation to proceedings brought by AUSTRAC regarding alleged breaches of anti-money laundering and counter terrorism financing laws. "Westpac accepts the gravity of the issues raised by the ...|
Victoria Funds Management Corporation has promoted a senior portfolio manager to head of equities, and hired from outside the company to fill the vacant role
COVID-19 has seen more than half a million Australians lose their jobs and countless businesses shuttered but for SMSF trustee landlords offering rent relief to those facing financial hardship could mean they fail to meet the sole purpose test.
Liberal MP Tim Wilson has written to APRA chair Wayne Byres urging the regulator to conduct an investigation into vertical integration at industry super funds and related conflicts of interest.
A corporate superannuation fund has pushed back its date of a planned successor fund transfer to Sunsuper by a year and is prepping members for potential future delays from COVID-19.
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