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Showing 201 - 210 of 890 results for "Failing"

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... million. AMP Life and AMP Financial Planning admitted that they engaged in unconscionable conduct by deducting and/or failing to properly refund insurance premiums and advice fees respectively from superannuation members after being notified of their ...

Class action commenced against IG Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
... an estimated $800 million, according to ASIC data. The losses, the class action claims, were the result of IG Markets failing to adequately assess investors' objectives and financial situations, while also inadequately disclosing the risks of CFDs until ...

Modern slavery on the rise a decade on from Rana Plaza

RACHEL ALEMBAKIS  |  FRIDAY, 21 APR 2023
... ethical fashion specialist at Baptist World Aid in Australia. "But evidencing the outcomes, that's where companies are failing to show any significant improvement on issues like raw materials and tracing and giving workers a living wage." Reforms ...

ASIC warns super funds on member communication failure

KARREN VERGARA  |  WEDNESDAY, 12 APR 2023
... "need to be transparent and factual about the performance of the failed product". Some common shortfalls included funds failing to be "member-centric" and taking a "reactive approach" to performance test communications as well as significant events like ...

ASIC bans Gold Coast adviser

CHLOE WALKER  |  FRIDAY, 31 MAR 2023
... authorised representative and financial adviser of National Advice Solutions, was banned by ASIC in December last year for failing to act in the best interest of his clients. Following the ban, however, Matai applied to the Administrative Appeals Tribunal ...

ASIC investigates CHESS replacement blunder

KARREN VERGARA  |  WEDNESDAY, 29 MAR 2023
... subsidiaries ASX Clear and ASX Settlement, and responsible directors and officers are under scrutiny for their role in failing to replace the settlements system and the technology that underpins it. ASIC is investigating if the exchange and its directors ...

Still work to be done on group insurance: ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 22 MAR 2023
... should exist for the effective administration of insurance arrangements. "These actions will mitigate the risk of trustees failing to fulfil their obligations to their members and leaving their members materially worse off," ASIC said.

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... FAR force entities to comply with accountability, key personnel, deferred remuneration, and notification obligations. Failing to abide by an obligation can lead to a civil penalty of up to 50,000 penalty units, three times the value of the benefit derived ...

Australian Ethical adds to leadership team

CASSANDRA BALDINI  |  TUESDAY, 14 MAR 2023
... encourage it to strengthen koala protections, but Australian Ethical cannot continue to support a company that appears to be failing to take biodiversity protection seriously," said Australian Ethical spokesperson Amanda Richman. "We've been clear that ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
... Fairness Advisor will conduct a review of its Home Loan Introducer Program." ASIC deputy chair Sarah Court commented: "By failing to have robust compliance and training processes in place, ANZ made it possible for third party intermediaries to misrepresent ...