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Showing 231 - 240 of 476 results for "ASIC commissioner"

ASIC targets misleading member communication

KARREN VERGARA  |  WEDNESDAY, 17 APR 2019
... comes in light of the Protecting Your Super package (PYSP) reforms, which are due to take effect on 1 July 2019. ASIC Commissioner Danielle Press said: "It is not appropriate for trustees to encourage all members to maintain insurance - many members ...

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... Westpac's current systems, policies and procedures. Findings must be reported back to ASIC with nine months. ASIC commissioner Sean Hughes said the court found after a six week contested trial : "Westpac traded with the dominant purpose of manipulating ...

ASIC approves AMP for MDAs

HARRISON WORLEY  |  TUESDAY, 9 APR 2019
... to renew their authority to provide MDA services it had worked constructively with the corporate regulator. ASIC commissioner Danielle Press said ASIC is expecting improvements across the advice industry, and additional license conditions were part of ...

AMP overhauls wealth leadership

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... of additional licence conditions is part of ongoing efforts to make our expectations clear to AFS licensees," ASIC commissioner Danielle Press said. "ASIC will impose licence conditions based on what an applicant is seeking authorisation for, what we ...

Regulators unite for life insurance transparency

HARRISON WORLEY  |  FRIDAY, 29 MAR 2019
... supervisors who will use them to gain deeper insights into the performance of the life insurers they oversee." ASIC commissioner Sean Hughes said both the online tool and APRA's data publication complemented each other, and added the joint data initiative ...

Former adviser cops 10-year prison sentence

JAMIE WILLIAMSON  |  MONDAY, 18 MAR 2019
... and deliberately breached his clients' trust. ASIC welcomes the sentencing decision handed down today," ASIC Commissioner Sean Hughes said. Nakhl is a former representative of Australian Financial Services Limited which has since gone into liquidation. ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... mentioned the wealth manager had so far not proposed methodologies for advisers who had already left the business. ASIC commissioner Danielle Press said Australia's financial institutions had taken too long to conduct further reviews into their fees-for-no-service ...

ASIC scolds banks over fee-for-no-service delays

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... Australia's largest financial institutions - AMP, ANZ, Commonwealth Bank, Macquarie, NAB and Westpac. According to ASIC commissioner Danielle Press, the institutions have taken too long to conduct further reviews of their fee-for-no-service issues. Press ...

Accountant banned for bad SMSF advice

HARRISON WORLEY  |  TUESDAY, 19 FEB 2019
... clients, she had effectively recommended the services of a related party so as to earn extra revenue for herself. ASIC Commissioner Danielle Press said financial advisers had a legal obligation to provide advice in the best interests of their clients ...

ASIC terminates managed accounts provider AFSL

KARREN VERGARA  |  FRIDAY, 1 FEB 2019
... terminate its existing client arrangements. The firm and Clinnick have the right to appeal ASIC's decision. ASIC commissioner Danielle Press warned all consumers considering MDAs to evaluate the risks and benefits of an MDA. "Consumers should ensure ...