Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 241 - 250 of 1705 results for "Breach"

UniSuper outage continues, no cause identified

JAMIE WILLIAMSON  |  TUESDAY, 7 MAY 2024
... will receive daily updates as the restoration progresses, and reinforced again that the outage is not related to a data breach, assuring members their information and retirement savings are safe. He also told members that Google Cloud is not the only ...

UniSuper battles major system outage

JAMIE WILLIAMSON  |  FRIDAY, 3 MAY 2024
... resolve an ongoing system outage impacting the entire business, assuring disgruntled members it is not the result of a data breach. The $135 billion super fund's online systems have been disrupted this week, with its 665,000 members unable to log ...

Succession planning troubles family offices: J.P. Morgan

KARREN VERGARA  |  TUESDAY, 30 APR 2024
... under supervision (AUS) incur US$6.1 million annually to keep running. One quarter has been exposed to a cybersecurity breach or financial fraud. Many say they need to toughen their cybersecurity measures, yet one in five do not have proper controls ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... provide the financial services under its AFSL. Further, ASIC found it was reasonable to believe that JB Markets was likely to breach financial services laws. "ASIC imposes financial requirements upon AFS licensees to help ensure that they have sufficient ...

Sequoia chair steps down

KARREN VERGARA  |  FRIDAY, 19 APR 2024
The chair of Sequoia Financial Group, John Larsen, has resigned from the position and his replacement has been appointed. Larsen's last day as chair was April 18 following five years at the post. He will stay at Sequoia as a non-executive director and ...

Adam Blumenthal ordered to pay $850k

ELIZA BAVIN  |  THURSDAY, 18 APR 2024
... Blumenthal had breached his duties as a director of EverBlu by failing to comply with its compliance policies and causing it to breach its obligations as an Australian financial services (AFS) licensee which jeopardised its interests. Blumenthal also ...

ASIC challenges court ruling in Finder Wallet crypto case

ANDREW MCKEAN  |  THURSDAY, 11 APR 2024
ASIC has appealed the Federal Court's decision to dismiss its proceedings against Finder Wallet. The corporate watchdog claimed that Finder Wallet provided unlicensed financial services, breached product disclosure requirements, and failed to comply ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
Lanterne Fund Services was issued a $1.25 million penalty by the Federal Court for failing to comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings ...

Life insurers struggle with code compliance

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
Life insurers continue to breach their own compliance code with more than 12,000 instances recorded, yet the body overseeing their conduct fears this is likely under-reported. The Life Code Compliance Committee (LCCC) saw another increase in the number ...

Why fund managers are missing out on investment mandates

ELIZA BAVIN  |  WEDNESDAY, 10 APR 2024
New research from Ocorian and Newgate Compliance found alternative fund managers are losing investment mandates or clients because of compliance issues. The research also revealed there had been an increased level of internal conflict between fund management ...