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Showing 201 - 210 of 1605 results for "Investigation"

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... many thousands of complaints a year, for any agency - let alone ASIC - to treat each and every one of them as if an investigation is justified. "Many of the complaints are actually issues that are not appropriate for a regulator to deal with. They may ...

Adviser fakes exam certificate, cops ASIC ban

KARREN VERGARA  |  FRIDAY, 26 APR 2024
... representative for licensee AAN Wealth Management, has been banned from entering financial services. ASIC's investigation found that she rendered personal advice to 121 clients in circumstances where she knew that she did not meet the prescribed ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
... Macquarie's bulk transaction system, totalling $2.9 million. Hopkins was sentenced to six years' imprisonment after an investigation and referral of a prosecution brief from ASIC and has also been permanently banned from providing financial services ...

ASIC chief executive to depart

ELIZA BAVIN  |  TUESDAY, 16 APR 2024
The chief executive of the Australian Securities and Investments Commission (ASIC) will be leaving the regulator, effective June 1. ASIC chair Joe Longo accepted a request from the Commonwealth Director of Public Prosecutions (CDPP) for ASIC chief executive ...

Class action building against GEMI Capital

ELIZA BAVIN  |  MONDAY, 15 APR 2024
MC Lawyers & Advisers has launched a class action investigation into claims of investor losses in various financial products issued by GEMI Asset Management. The law firm said investigations were targeting scenarios in which wholesale or sophisticated ...

Blockchain mining companies sued by ASIC

ANDREW MCKEAN  |  MONDAY, 15 APR 2024
... Mendham from travelling outside of Australia. While no return date has been scheduled for the proceedings yet, ASIC's investigation into the NGS companies and their directors is ongoing. The NGS companies are separate and not connected in any way to ...

ASIC consults on misconduct reporting rules

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
ASIC has released a consultation paper seeking feedback on updated regulatory guidelines for external administrators and controllers when reporting and lodging statutory reports about alleged misconduct. The proposed updates to Regulatory Guide 16 External ...

FCA issues notices to Link Fund Solutions, Woodford

KARREN VERGARA  |  FRIDAY, 12 APR 2024
The Financial Conduct Authority's (FCA) investigation into the Woodford Equity Income Fund (WEIF) finds that the failures of Link Fund Solutions (LFS) and "star stock picker" Neil Woodford ultimately led to the fund's demise, leading to the ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... deterrence. ASIC petitioned for a $1.5 million fine. The judge also noted that the breaches were discovered due to ASIC's investigation rather than Lanterne self-reporting the issues, and that the conduct occurred in the aftermath of the Royal Commission. ...