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Showing 261 - 270 of 721 results for "Misconduct"

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... separate business. "For over three years now, ASIC has pursued enforcement, regulatory and remediation action to tackle misconduct and stem consumer harm in the direct life insurance market. ASIC has delivered deterrence through court action, disruption ...

Westpac in fresh $87m remediation program

KARREN VERGARA  |  FRIDAY, 2 JUL 2021
... corporate actions means customers may have missed out on various opportunities. "Compensating customers affected by misconduct is a very important part of licensees' obligations to act fairly, honestly and efficiently. We are pleased to see that ...

ASIC disqualifies SMSF auditor

ANNABELLE DICKSON  |  WEDNESDAY, 30 JUN 2021
... disqualified SMSF auditors. Last year, ASIC imposed tougher registration conditions for two SMSF auditors following a slew of misconduct. William Krammer from Victoria and Yuk Wong from New South Wales also breached auditor independence and audit quality ...

Adviser slapped with four-year ban

KARREN VERGARA  |  MONDAY, 28 JUN 2021
... is despite the fact that Jennings has been working as an adviser since 2009, representing several AFS licensees. The misconduct occurred during the time she was an authorised representative of Meritum (February 2012 to February 2017) and InterPrac. Jennings ...

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... Credit Panel (FSCP) within ASIC expand to regulating advisers, operating as a single disciplinary body to govern serious misconduct. The panel comprises a minimum of two industry participants, who ASIC must select from a list of eligible persons appointed ...

CountPlus acquisitions boost revenue by $9.4m

KARREN VERGARA  |  THURSDAY, 24 JUN 2021
... which was previously part of the Commonwealth Bank, raised its provision for remediation related to historical adviser misconduct to $252 million.

Super fund risk culture "immature": APRA

ELIZABETH MCARTHUR  |  FRIDAY, 28 MAY 2021
... Smith has warned superannuation funds that the regulator is looking out for toxic corporate culture and instances of misconduct. Speaking at the ASFA Spotlight on Risk and Compliance event, Smith said workplace misconduct has never been a more high-profile ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... the period in question. A further $100,000 was deducted in advice fees, with $75,000 received during the period. The misconduct was first revealed by the Hayne Royal Commission in 2018, where it was made public that staff were aware deceased client accounts ...

ASIC bans Theta managing director

KARREN VERGARA  |  MONDAY, 17 MAY 2021
... years from the financial services industry. The banning order for Robert Patrick Marie comes after several instances of misconduct relating to Theta, the responsible entity of the Sterling Income Trust (SIT), which ASIC commenced civil penalty proceedings ...

Adviser faced with further dishonesty charges

ANNABELLE DICKSON  |  MONDAY, 3 MAY 2021
... by two of Australia's largest licensees, Synchron (2016-2018) and AMP (2013-2016). ASIC was first alerted to the misconduct after AustralianSuper submitted a report in July 2019 over concerns Goel had submitted numerous applications for the release ...