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Showing 251 - 260 of 1328 results for "AFFECTED"

ASIC files numerous cases against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 30 NOV 2021
... financial distress, being overcharged interest, ASIC said. In this case, both Westpac and the debt purchasers have refunded affected customers about $17 million. The conduct is said to have caused considerable consumer harm, with the bank having admitted ...

La Trobe fined for misleading investors

ELIZABETH MCARTHUR  |  MONDAY, 29 NOV 2021
... variety of different media that were all accessible by the general public. Further, the misleading conduct potentially affected investment decisions involving very large sums of money." When ASIC first took action against La Trobe in December last year ...

COVID-19 relief for SMSFs may require specialist input

CHLOE WALKER  |  MONDAY, 22 NOV 2021
... air travel, so the ATO's decision to waive the application of compliance resources in 2021-22 will be welcomed by affected SMSFs." For LRBAs, the ATO has extended its relief to allow SMSFs to negotiate loan repayment adjustments. Breaches of the ...

AMP in enforceable undertaking

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
... AMP has also agreed to revisit its remediation approach in relation to another, the wealth giant said. "AMP will ensure affected members will be appropriately compensated. AMP expects that its rectification and remediation cost pertaining to this EU ...

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
... Compensation Scheme of Last Resort. The scheme facilitates the reimbursement of up to $150,000 to compensate consumers affected by bad personal advice, credit intermediation, securities dealing, and credit provision should their case fail with the Australian ...

ASIC eyes employee super fund choice

KARREN VERGARA  |  MONDAY, 18 OCT 2021
... not encourage employers to act in a manner that is contrary to the law to promote their funds. Recent law reform has affected a variety of obligations concerning marketing and distribution of superannuation products, including via employers," she said. ...

ME Bank faces criminal charges

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
... period ending September 2018. These issues were self-reported by ME to ASIC in October 2018 and remediation paid to all affected customers in 2019 was approximately $105,000. BOQ Group was aware of this matter during the due diligence process for the ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... the member's superannuation contributions into a MySuper product." CFS hasn't remediated the majority of the affected members yet. "CFSIL apologises unreservedly to members impacted by these issues. Remediation of the [70] calls is over 99% complete ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... financial services licensees can meet their obligations, set to commence on October 1. ASIC explains how advisers must notify affected clients of a reportable situation, which has to be done within 30 days. Advisers must investigate the situation within ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... were able to make small withdrawals in the beginning before the scammers cut off contact. These scams disproportionately affected members of culturally and linguistically diverse communities including recent migrants from Burma and Sri Lanka.