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Showing 11 - 20 of 206 results for %22Financial Markets Conduct Act%22

Platform fees, poor resourcing a red flag for regulator

JAMIE WILLIAMSON  |  TUESDAY, 3 OCT 2023
... the regulator, flagging concerns around poor disclosure of fees and under-investment in technology. In the letter, the Financial Conduct Authority's director of consumer investments Lucy Castledine outlined "key harms" to consumers the regulator has ...

eToro sued by ASIC

ANDREW MCKEAN  |  THURSDAY, 3 AUG 2023
... with their needs and the design and distribution obligations are being met." In response, an eToro spokesperson told Financial Standard: "eToro AUS is considering the allegations filed by ASIC in these proceedings and will respond accordingly. There ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
Financial advice firms are "problematically" sidestepping compensation payments after the Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
Financial advisers from large aligned AFSL groups bear the brunt of complaints, according to the Australian Financial Complaints Authority's data, with several AMP and Insignia Financial practices leading the pack. Modelling of the AFCA data shows ...

Bank of England launches first system- wide stress test

CASSANDRA BALDINI  |  TUESDAY, 20 JUN 2023
... system-wide stress test to understand the behaviours of banks and non-bank financial institutions (NBFIs) in volatile financial markets. Recent chaos across UK markets has led to the system-wide exploratory scenario (SWES) exercise which aims to review ...

ASIC chair calls out greenhushing

RACHEL ALEMBAKIS  |  TUESDAY, 6 JUN 2023
... similar disclosure of nature and biodiversity. He advised that companies need to think about how sustainability and financial reporting work together, "how can we ensure that marketing and advertising teams work with the legal and risk teams to ensure ...

Macquarie AM wins manager of the year: ILAs

STAFF WRITER  |  FRIDAY, 2 JUN 2023
Macquarie Asset Management won multiple awards at last night's Financial Standard Investment Leadership Awards, including the highly coveted Investment Manager of the Year Award. Attended by 350 people at Sydney's Crown, Financial Standard honoured ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
The Australian Financial Complaints Authority (AFCA) has shed light on what it considers systemic shortcomings in the superannuation, investment, and financial advice industries. The AFCA Systemic Issues Insights report identified multiple instances ...

Jones calls for taxonomy to clarify greenwashing

RACHEL ALEMBAKIS  |  WEDNESDAY, 3 MAY 2023
... are concentrating on greenwashing-related enforcement. "Greenwashing corrodes the credibility of sustainable financial markets, so we have to act on this area," Jones said. "The government is also acutely aware of the relationship between the taxonomy ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
ASIC cancelled the financial services licence of Binance following concerns about the cryptocurrency exchange's operations in Australia. Effective April 6, the AFSL of Oztures Trading, which trades as Binance Australia Derivatives, was cancelled. From ...