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Showing 1 - 10 of 2898 results for %22Regulator ASIC%22

Brisbane financial adviser has assets frozen

ANDREW MCKEAN  |  FRIDAY, 10 MAY 2024
... the Federal Court against Brisbane financial adviser Sunny Prakash and his many associated companies. The corporate regulator is investigating Prakash and his "related companies" - Principal Financial Services Pty Ltd, Self-Managed Super Pty Ltd, Provest ...

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... three of the funds they looked at were failing to even do basic checks of adviser fee deductions. This comes despite regulator warnings to improve on this back in 2021." While trustees were specifically warned on advice fee deductions in 2021, they were ...

ASIC slams funds' serious deficiencies over advice fee charges

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... operators" as a new report identifies serious deficiencies in their monitoring of financial advice fee deductions. The regulator has also called into questions trustees' oversight of advisers, discovering shortcomings in monitoring processes. For its ...

APRA 'continuing to monitor' UniSuper outage

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... the outcome - which is the inability of customers to lodge claims or access other services." Meanwhile, corporate regulator ASIC said that the matter "predominantly concerns APRA," but offered a general comment on member services failures. "Member services ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... the Markets Disciplinary Panel (MDP) following an investigation by the Australian Securities and Investments Commission (ASIC). The MDP found JPMSAL permitted suspicious client orders to be placed on the futures market, ASX 24. The MDP said it should ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... good retirement outcomes for clients and members to uphold member trust and the integrity of the financial system," the regulator said. "This includes notifying ASIC when becoming aware of activity associated with unscrupulous cold calling for superannuation ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
ASIC has won a case against BPS Financial, following a Federal Court ruling that found the latter guilty of offering 'Qoin Wallet,' a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
... impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. The regulator said scammers are mirroring real businesses' disclosure documents, addresses, International Securities Identification ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... on Corporations and Financial Services today. When questioned over its capacity to respond to people who approach the regulator seeking litigation against a company or person, Longo said ASIC does not have the resources to investigate every claim. Longo ...

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... hardship as a result of these planned new reporting requirements." Meantime, Australian Securities and Investments Commission (ASIC) chair Joe Longo said growing interest in environmental, social, and governance issues had driven the need for more thorough ...
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