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Showing 191 - 200 of 813 results for "Corporations Act"

CommSec, AUSIEX to pay $27m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 26 OCT 2022
... their relevant obligations under their AFSLs and pursuant to the Market Integrity Rules and consequently, the Corporations Act (and additionally for CommSec, the ASIC Act)," the presiding Justice Abraham said. "The conduct is properly characterised as ...

Throw out financial services law clutter: ALRC

ANDREW MCKEAN  |  WEDNESDAY, 5 OCT 2022
... coherent and principled, and "embraces minimalism." The ALRC's proposed legislative model would simplify the Corporations Act, which currently contains a large amount of prescriptive detail, to create a navigable legislative hierarchy. The model would ...

Tech providers support QAR SOA proposals

CASSANDRA BALDINI  |  THURSDAY, 29 SEP 2022
... advice needs to reasonably benefit the client and that the advice provider has a duty twice under the current Corporations Act," Henderson explained. "Her argument also refers to this point the greater the risk of harm, the more work a provider will ...

Still work to do on QAR: Levy

CASSANDRA BALDINI  |  FRIDAY, 23 SEP 2022
... disaster." She explained the bottom line as to why it was labeled as such was down to the best interest duty in the Corporations Act being removed and replaced by a good advice duty. "In my view, that's a very strong consumer protection provision. ...

Super funds more likely to recall shares for proxy votes: Research

RACHEL ALEMBAKIS  |  TUESDAY, 20 SEP 2022
... paper from researchers at Deakin Business School. The two-strikes rule was brought in as an amendment to the Corporations Act. If more than 25% of a company's shareholders vote down two annual remuneration reports in a row, this triggers a vote on a ...

ABN AMRO Clearing pays $222k penalty

ANDREW MCKEAN  |  THURSDAY, 8 SEP 2022
... trades. Subsequently, the MDP had reasonable grounds to believe that ABN AMRO contravened subsection 798H(1) of the Corporations Act by failing to comply with Rule 3.4.2(1) of the Rules. The MDP found that ABN AMRO's operations team performed a check ...

Insurers are 'fishing' for non-disclosures: ASIC

ANDREW MCKEAN  |  FRIDAY, 2 SEP 2022
... Commission, we took action against TAL for breaches of its duty of utmost good faith in handling claims. Changes to the Corporations Act on 1 January 2022 mean that insurers are now legally obliged to act efficiently, honestly and fairly when handling ...

ASIC releases CCIV guidelines

CASSANDRA BALDINI  |  FRIDAY, 24 JUN 2022
... guidance will assist corporate directors to comply with their licensee obligations and other requirements under the Corporations Act." ASIC will update its key regulatory guidelines and release new legislative instrument to further support corporate ...

Advice requirements confusing, complex: JAWG

ANDREW MCKEAN  |  TUESDAY, 21 JUN 2022
... pressure." Additionally, the submission also made recommendations for the removal of the safe harbour steps from the Corporations Act and clarity on what is needed to satisfy the best interests duty. A profession-wide position on the tax deductibility ...

ASIC prosecutes market manipulator

CHLOE WALKER  |  TUESDAY, 7 JUN 2022
... $765,000, or both. Posting on social media as part of an attempt to manipulate the market is illegal under the Corporations Act. This is the first time a person has been convicted of online stock manipulation charges under s1041D of the Act. The corporate ...