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Showing 11 - 20 of 592 results for "Misconduct"

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... of Last Resort (CLSR). The scheme, which officially kicks off on April 2, aims to give victims of financial services misconduct access to redress and compensation. Bloch, who was independently appointed by assistant treasurer and minister for financial ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... advisers to provide appropriate SMSF advice using "professional judgment", as the regulator flags serious instances of misconduct it wants to curb. At the annual SMSF Association National Conference, ASIC senior executive leader for financial advice ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... days of receiving an invoice. A second instalment will be due in July 2024. Under the scheme, victims of financial misconduct will be eligible for payments up to $150,000. "We are pleased to announce this important milestone as an important step towards ...

Former adviser misled ASIC during investigation: Court

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... with two counts of providing false or misleading information to ASIC during the regulator's investigation into his misconduct. Kristofer Ridgway allegedly provided false information during ASIC's investigation into his role in recommending unlisted ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... competitive, while adding there were no plans to take the fund public. 7) Munich Re targets AMP over alleged reinsurance misconduct (August 23) In a disclosure nestled within AMP's half-year results, it was revealed that AMP Limited and subsidiaries ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... Taxation Office jointly regulate the SMSF sector; the ATO has the role of auditing SMSF auditors. Financial adviser misconduct in the SMSF space is rife. One example is former adviser Terence Rio Nugara was jailed for stealing SMSF clients' money ...

FSCP issues another registration prohibition order

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
... previously licensed with EP Financial Services. The FSCP works alongside ASIC to oversee cases deemed to be less serious in misconduct. The panel typically does not disclose the names of advisers under investigation unless the outcome is required to ...

FSCP serves up registration prohibition order

KARREN VERGARA  |  MONDAY, 11 DEC 2023
... provision of financial services, Miller said. The FSCP works alongside ASIC to oversee cases deemed to be less serious in misconduct. The panel typically does not disclose the names of advisers under investigation unless the outcome is required to be ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... Rickard will take up the role in January. "The CSLR will play a very important role in helping victims of financial misconduct access redress and I very much look forward to contributing to this important work," Berry said. Meanwhile, the board said ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
... provide services to members efficiently. This led to a violation of the ASIC Act in connection with fees for no service misconduct. Agreed facts state that between December 2015 and November 2021, OnePath shared inaccurate information with Integra Super ...