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Showing 251 - 260 of 2425 results for "NEC"

FSC releases new standard on scam mitigation

ELIZA BAVIN  |  MONDAY, 1 JUL 2024
The Financial Services Council (FSC) and its superannuation funds members have adopted a new standard to protect consumers from financial harm. The FSC's Standard demonstrates its members' commitment to protecting customers from scams and fraud by setting ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
ASIC has cancelled the licence of Guildfords Funds Management and banned its managing director Robert Payne for their involvement in the collapse of Magnolia Capital Group. ASIC found "significant and systemic failures of oversight and compliance" upon ...

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
Ascot Securities was issued an infringement notice by the Markets Disciplinary Panel (MDP) in November last year for serious failures, resulting in a $3.1 million penalty and a requirement to enter an enforceable undertaking. However, Ascot chose not ...

ASIC calls out licensees: 'We will take action'

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
Australian Securities and Investments Commission (ASIC) commissioner Alan Kirkland issued a blunt warning to licensees not meeting their obligations. Speaking at an industry event, Kirkland said the regulator has spent two years warning licensees to ...

RBA issues warning over inflationary spending

ELIZA BAVIN  |  WEDNESDAY, 19 JUN 2024
The Reserve Bank of Australia (RBA) kept the official cash rate on hold at 4.35% in June but would not rule out another hike in the future. The RBA board noted that inflation had fallen substantially since its peak in 2022 but said recent federal and ...

Most advisers satisfied with success: Research

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
Most financial advisers are happy with the success and profitability of their businesses, rating their satisfaction 3.6 out of five, new research shows. The 171 advice practices canvassed by Elixir Consulting and Colonial First State recorded earnings ...

Will ASIC use AI for advice compliance monitoring?

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
The rapid expansion of artificial intelligence (AI) applications in the financial advice industry has led to a prediction that ASIC could soon incorporate AI into its compliance and audit checks of advisers. Financial technology firm Padua envisions ...

First Bitcoin ETF to launch this week on ASX

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
VanEck will make history this week as the first investment manager to launch a Bitcoin ETF on the ASX. The VanEck Bitcoin ETF (ASX: VBTC), which will list this Thursday, has come into being after an uptick in queries and requests from the adviser and ...

Social media, news addiction cost returns: Morningstar

KARREN VERGARA  |  MONDAY, 17 JUN 2024
Investors addicted to the financial news cycle and social media hype tend to time the market and forego substantial returns compared to staying the course, according to Morningstar. The "hyper-informed" investor is one who incessantly checks stock prices ...

ASIC issues first stop order for crowd funding

ELIZA BAVIN  |  THURSDAY, 13 JUN 2024
The Australian Securities and Investments Commission (ASIC) has issued an interim stop order preventing Hirehood from offering securities under its crowd-sourced funding (CSF) offer document. The CSF was published on the VentureCrowd intermediary platform. ...