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Showing 261 - 270 of 6063 results for "Commission"

Former Western AM investment chief charged for 'cherry-picking'

MATTHEW WAI  |  TUESDAY, 26 NOV 2024
The Securities and Exchange Commission (SEC) has charged former Western Asset co-chief investment officer Ken Leech for "engaging in a multi-year scheme to allocate favourable trades to certain portfolios." The SEC alleges Leech engaged in the conduct ...

Gensler to leave SEC in January

JAMIE WILLIAMSON  |  FRIDAY, 22 NOV 2024
Gary Gensler, the chair of the Securities and Exchange Commission (SEC), will leave the regulator on January 20. The SEC has announced Gensler will depart at midday on 20 January 2025, coinciding with the commencement of President-elect Donald Trump's ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
ASIC has issued new regulatory guidance for financial advisers and superannuation trustees relating to four strands of the Delivering Better Financial Outcomes (DBFO) reforms. The regulator issued two new documents regarding fee arrangements: Information ...

ASIC narrows in on private market investments

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2024
ASIC commissioner Simone Constant said the corporate regulator is focused on driving consistency and transparency around super fund investments in the private market. "We have an ongoing dialogue with APRA's work around the valuation of unlisted assets ...

ATO recovers $900m in unpaid super

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
The Australian Taxation Office (ATO) recovered over $900 million in unpaid super owed to 800,000 employees in the past year. Latest compliance data from the ATO shows $932 million in previously unpaid superannuation reached the retirement accounts of ...

ASIC flags 'consistently weak' claims processes

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
Following its recent action against Cbus, ASIC has warned all super trustees to ensure they are processing death benefit claims efficiently, saying it has seen "consistently weak" practices and "operational failures." ASIC has put super funds on notice ...

Former adviser charged with dishonest conduct

KARREN VERGARA  |  TUESDAY, 19 NOV 2024
... Capital from 2016 to 2020, failing to disclose to his clients that he was entitled to, and would receive, substantial commission payments. The matter has been adjourned for mention on 3 February 2025. It is being prosecuted by the Office of the Director ...

Lack of action on menopause driving gender inequity

JAMIE WILLIAMSON  |  MONDAY, 18 NOV 2024
... menopause and perimenopause impact women's economic outcomes. In September, a Senate inquiry called on the government to commission a comprehensive study to assess the economic impacts of menopause "which clearly delineates the impact of symptoms of ...

ASIC sues NAB for failing customers

ELIZA BAVIN  |  MONDAY, 18 NOV 2024
The Australian Securities and Investments Commission (ASIC) has filed proceedings against National Australia Bank (NAB) in the Federal Court. ASIC alleges NAB failed 345 of its customers at their most vulnerable when they applied for hardship support ...

Admin and compliance taking up 56% of advice practice costs

ELIZA BAVIN  |  MONDAY, 18 NOV 2024
... industry has been grappling with the fragmentation and inefficiencies that arose after the 2018 Financial Services Royal Commission, which led to the exit of major banks from providing advice. The industry is simply not equipped to meet the growing need ...