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

Search Results

Showing 251 - 260 of 5203 results for "2015-16 ASIC"

UGC auditor 'comprehensively failed', registration stripped

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
... misconduct. Auditors are critical gatekeepers, and when they fail in their duties, the consequences for investors can be severe," ASIC deputy chair Sarah Court said. The AFCA membership of UGC has been temporarily reinstated so that impacted investors ...

Netwealth invokes Part 23 of SIS Act in First Guardian response

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
Netwealth has applied to the government for financial assistance under Part 23 of the Superannuation Industry (Supervision) Act 1993 in order to compensate members impacted by the First Guardian failure. This morning, the listed platform and superannuation ...

Macquarie to shed more than 240 investment options

KARREN VERGARA  |  FRIDAY, 24 OCT 2025
... the OC Dynamic Equity Fund were also closed to super investors. The move comes at the fallout of the Shield Master Fund. ASIC and Macquarie are now battling it out in the Federal Court as the regulator alleges MIM did not act efficiently, honestly and ...

Shield, First Guardian fallout calls for tougher scrutiny on research houses, licensee governance

MATTHEW WAI  |  FRIDAY, 24 OCT 2025
The fall of the Shield Master Fund and First Guardian Master Fund calls for tougher scrutiny of research houses and licensees to strengthen their governance framework, according to experts, who warn that an entrenched system requires an urgent shakeup. ...

FEATURE: Fund admin | Tight Ship

KARREN VERGARA  |  FRIDAY, 24 OCT 2025
... something more menacing lurks - that trustees cannot seem to get the fundamentals of their administrative processes right. ASIC's scathing March report into the timely payments of death benefits asks an even more disturbing question: do they know the ...

ASIC bans adviser attached to UGC, MWL

ELIZA BAVIN  |  THURSDAY, 23 OCT 2025
ASIC has banned Melbourne-based financial adviser Jovan Videkanic from providing financial services, controlling an entity that carries on a financial services business or performing any function involved in the carrying on of a financial services business ...

Feature: Group insurance | Cold comfort

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... over 500 days to pay a claim to a grieving widow and failed to respond to her financial hardship concerns. In November 2024, ASIC launched proceedings against Cbus, having found that thousands of claimants waited more than 12 months for a benefit to ...

Adviser banned after $11.3m loss

ELIZA BAVIN  |  WEDNESDAY, 22 OCT 2025
ASIC confirmed it permanently banned WA-based adviser Noel Northcott in April, over concerns it had around Northcott's involvement in the Noon Investment Fund and the Quant Fund, after a ruling by Administrative Review Tribunal (ART) allowed the regulator ...

ASIC slaps MWL adviser with ban over Shield involvement

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
ASIC has banned Wade Spooner of Melbourne for eight years for advising his clients to invest their superannuation into the Shield Master Fund while he was an authorised representative of MWL Financial Services. Spooner, also a member of MWL's investment ...

First Guardian shaves $286m off Praemium FUA

MATTHEW WAI  |  TUESDAY, 21 OCT 2025
Praemium has calculated the impact of its exposure to the First Guardian collapse, reducing its total funds under administration (FUA) by close to $300 million. Praemium reduced its FUA by $286 million in relation to First Guardian holdings in the September ...