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Search ResultsShowing 11 - 20 of 100+ results for "Regulatory"
Australian banks among most fined
ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
Australian banks have taken the inauspicious title of second most fined in the world for 2020, according to new data. The research from Finbold found that US banks had to pay the most in fines of anywhere in the world - with 12 fines against US banks ...
FASEA urges advisers to maximise exam sittings
ELIZABETH MCARTHUR  |  MONDAY, 11 JAN 2021
... ASIC Financial Adviser Register. FASEA is in the process of being shut down and its functions transferred to other regulatory agencies as the government seeks to act on the Royal Commission's recommendation that the advice sector be regulated by a single ...
Deutsche Bank fined for alleged bribery
ANNABELLE DICKSON  |  MONDAY, 11 JAN 2021
The US Securities and Exchange Commission (SEC) has fined the bank for falsifying payment documentation in relation to third-party intermediaries. Deutsche Bank has agreed to pay more than US$120 million for violations of the Foreign Corrupt Practices ...
ASIC slams auditors
KARREN VERGARA  |  WEDNESDAY, 23 DEC 2020
The corporate regulator has lambasted the major auditors for sloppy work, and poor governance and accountability practices. A sample of audits for the six months to June 2020 questions the quality and integrity of audit services. In aggregate, ASIC ...
FASEA exam results for November 2020
ELIZABETH MCARTHUR  |  TUESDAY, 22 DEC 2020
... give consent, will have their names added to the successful candidates list on the FASEA website." Financial advice regulatory and legal requirements was highlighted by FASEA and exam provider ACER as being an area of knowledge where many of those sitting ...
Foreign investors face tip offs
ANNABELLE DICKSON  |  TUESDAY, 22 DEC 2020
The government has released a new compliance campaign to crack down on foreign investors purchasing residential property and ensuring they are abiding by the guidelines. The Tip Off campaign encourages people to send information to the tax office about ...
Charles Schwab fails consumers, cops fine
KARREN VERGARA  |  TUESDAY, 22 DEC 2020
Charles Schwab UK has been fined $15.6 million for failing to protect consumers and lying to the regulator. CSUK has to cough up GBP8.96 million for a number for safeguard and compliance failures, the UK's Financial Conduct Authority has found, noting ...
ASIC to review impact of ASX outage
KANIKA SOOD  |  TUESDAY, 22 DEC 2020
In 2021, ASIC will review how market participants adapted to the ASX's outage in November, and if they and the ASX violated their market operating licences. On November 16 at 10:24 am, ASX halted trading on ASX Trade after switching to new systems ...
Jail time for tax adviser
ELIZABETH MCARTHUR  |  TUESDAY, 22 DEC 2020
The Federal Court has sentenced a tax adviser to seven and a half months in prison and fined him $640,000. Brisbane-based Kent Scott Hacker will spend Christmas behind bars after receiving the seven and a half months sentence. He, and his related companies ...
APRA Connect to go live in 2021
KARREN VERGARA  |  TUESDAY, 22 DEC 2020
... or May next year. With the new system going live in September 2021, APRA said there will be a progressive cutover of regulatory data reporting to APRA Connect over the coming years. Entities will be required to use both D2A and APRA Connect in the medium ...
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