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Showing 241 - 250 of 545 results for "Investigate"

APRA grilled over superannuation

KANIKA SOOD  |  FRIDAY, 30 NOV 2018
... from a risk perspective over the end-to-end process, whether that would be something that now would trigger APRA to investigate further?" Hodge asked. "Unfortunately, these are all too common in financial institutions," Byres said. "So I think the supervisor ...

NAB signals more bad advice remediation

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
Among its FY18 results, National Australia Bank flagged that bad advice and fees for no service remediation will continue to dampen its future financial performance. Numerous contingent liabilities and potentially paying out more compensation plagued ...

Assistant Treasurer refutes breach allegations

HARRISON WORLEY  |  FRIDAY, 26 OCT 2018
... Estimates on Wednesday evening we're "patently wrong". Robert's response comes as ASIC confirmed it would investigate allegations he breached the Corporations Act by failing to inform the corporate regulator of his resignation as a director of ...

ASIC slams unacceptable reporting breaches

KARREN VERGARA  |  WEDNESDAY, 26 SEP 2018
... consumer-orientated culture of escalation. ASIC therefore has to address two areas. The first is the length of time to identify and investigate potential breaches. "Whilst this is not of itself a breach of the reporting requirement, this is the source ...

Franking credits inquiry launched

HARRISON WORLEY  |  THURSDAY, 20 SEP 2018
... Labor's policy to remove refundable franking credits. The House of Representatives Standing Committee on Economics will investigate the implications of removing refundable franking credits. The review comes after the Labor Party committed to removing ...

Former Westpac adviser ban upheld

KARREN VERGARA  |  FRIDAY, 14 SEP 2018
... using limited recourse borrowing arrangements to fund the purchase of real property. ASIC was concerned Atkins did not investigate or consider whether the strategy of investing in property through an SMSF would outperform his clients' existing superannuation ...

Former MyPlanner adviser fails best interests test

JAMIE WILLIAMSON  |  WEDNESDAY, 5 SEP 2018
... enquiries into his clients' relevant personal circumstances before providing advice, and failed to consider and properly investigate the subject matter of the advice. ASIC determined that Allen did not comply with the best interest duty and its related ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
The Royal Commission cast serious doubts over the ability of APRA and ASIC to effectively regulate the superannuation industry, questioning their purpose in safeguarding retirement savings and the stability of the financial system. In his fifth round ...

Intra-fund advice conflicted: Royal Commission

KARREN VERGARA  |  THURSDAY, 16 AUG 2018
... stands with regulator. Only in July, when the Commission issued a rubric that CFS and Financial Wisdom took steps to investigate the matter. On August 10, Financial Wisdom suspended the adviser. Chun confirmed that CFS will require Financial Wisdom to ...

ASIC staff to investigate institutions from the inside

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
The corporate regulator will be gifted enhanced enforcement powers via funding from the Federal Government, a sizeable chunk of which will be used to embed staff within the big four banks and AMP. The Federal Government announced it is injecting a further ...