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Showing 11 - 20 of 39 results for "Court Enforceable Undertaking"

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... authorised representatives (CARs), following an ASIC investigation. Sanlam has subsequently entered a court enforceable undertaking and will need an ASIC-approved independent expert to review its processes and systems. The investigation uncovered Sanlam ...

AMP Super trustee has additional licence conditions removed

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... compliance with the directions and conditions. In 2021, following more investigations, APRA accepted a court enforceable undertaking (CEU) from N.M. Super, pledging to rectify governance and risk management deficiencies, covering specific matters in ...

Insignia Financial looks to slash redundancy entitlements

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2024
... And, earlier this week, it was announced one of its superannuation RSEs, OnePath, has entered a court enforceable undertaking with APRA and paid a $10.7 million fine as it continues to identify members whose contributions weren't directed to a MySuper ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... MySuper product when they should have been; this conduct has also led to Insignia Financial entering a court enforceable undertaking with APRA, also announced today. Finally, the balance of $20 million related to historic product remediation, the company ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
OnePath Custodians is entering a court enforceable undertaking with APRA and will pay close to $11 million, as it continues to identify super members whose contributions weren't directed to a MySuper option when they should have been. APRA has agreed ...

iExtend receives AFSL after lengthy wait

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
iExtend has been granted an AFSL, after entering a court enforceable undertaking last year over concerns of unlicensed conduct. In November 2023, the life insurance startup entered a court enforceable undertaking after ASIC pinged it for possibly operating ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
... management, insurance broking or dealing in financial products. Last November, the firm accepted a court enforceable undertaking from ASIC after the regulator found that the life insurance start-up was operating without a licence. iExtend partners with ...

ASIC takes action on EverBlu, director

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... account; maintenance of records; and management of conflicts of interest. ASIC has already accepted a court enforceable undertaking from Blumenthal and EverBlue. This means that he will not be involved in financial services for five years and will undertake ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
ASIC has accepted a court enforceable undertaking from iExtend Holdings Company (iExtend) after investigating concerns that it was operating without an AFSL. The undertaking also relates to iExi Pty Ltd, which trades as iExtend. Documents show the investigation ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... interest rate of 7.6% per annum from the time they invested. Additionally, the regulator has accepted a court enforceable undertaking from Bobbob and its sole director Byron Goldberg regarding the representations. The undertakings include that Bobbob ...