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Showing 241 - 250 of 890 results for "Failing"

Spaceship chair banned for two years

JAMIE WILLIAMSON  |  TUESDAY, 7 JUN 2022
The chair of Spaceship Capital has been banned by ASIC for failing to understand all the financial services offered by the group. Paul Ernest Dortkamp has been banned from performing functions as an officer and responsible manager of a financial services ...

AGL abandons demerger, leadership resigns

CASSANDRA BALDINI  |  MONDAY, 30 MAY 2022
... company forward. AGL is in desperate need of directors that have direct experience in developing clean energy at scale. By failing to set Paris-aligned targets for the proposed demerged entities, the board of AGL ignored a fundamental demand of a majority ...

ASIC outlines cybersecurity expectations

JAMIE WILLIAMSON  |  FRIDAY, 13 MAY 2022
... last week, in what was an Australian-first, the Federal Court found RI Advice failed its obligations as an AFSL holder by failing to have adequate systems in place to manage cybersecurity risks. ASIC says the determination should serve as a wake-up call ...

Federal Court rules against RI Advice in cybersecurity case

JAMIE WILLIAMSON  |  THURSDAY, 5 MAY 2022
The Federal Court has found RI Advice breached its obligations as a licensee by failing to have adequate systems in place to manage cybersecurity risks, leading to several incidents that put client information at risk. In what ASIC says is an Australian ...

ATO slammed for failing to collect billions in unpaid super

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
Industry Super Australia has unleashed on the loose laws and 'light touch' compliance that's costing working Australians billions in unpaid super. In a statement, ISA said: "The auditor has found the Australian Tax Office's (ATO) reluctance to 'proactively' ...

Labor MP savages government's superannuation record

ANDREW MCKEAN  |  THURSDAY, 28 APR 2022
At the ASFA Conference this morning, shadow minister for financial services and superannuation Stephen Jones outlined his party's policy and attacked the government's "crackpot ideas". Jones said he recognised the enormous opportunity of working ...

YFYS changed how funds invest: JPMAM

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 APR 2022
... revealed that while chief investment officers are not intending to make major changes to their portfolios - unless they are failing on the performance test - they are more cautious with high alpha strategies which require higher degrees of conviction. ...

Border rule-breaking former adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 5 APR 2022
... Less than a month later, Capstone Financial Planning - his licensee - revoked his authorisation after he was convicted of failing to comply with a direction under the Emergency Management Act 2005 and of gaining a benefit by fraud in contravention of ...

GAM loses insto mandate

JAMIE WILLIAMSON  |  THURSDAY, 31 MAR 2022
... matter, the UK's Financial Conduct Authority released details of the $16 million fine it handed GAM in December 2021 for failing to adequately manage conflicts of interest as part of the misconduct that saw fixed income investment director Timothy ...

More Diversa super products to wind up

JAMIE WILLIAMSON  |  FRIDAY, 25 MAR 2022
... into administration with about $2.8 million in FUM. Another sub-plan Diversa oversaw, Zuper, also closed in 2021 after failing to reach sufficient scale. Its closure came less than a year after it was transferred to OneSuper (then Smartsave) as part ...