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Showing 291 - 300 of 1712 results for "Breach"

Wealth managers shirk cybersecurity priorities

KARREN VERGARA  |  MONDAY, 13 NOV 2023
An alarming number of small and large wealth managers are underprepared for cybersecurity breaches particularly when it comes to managing third-party providers, a new report from ASIC finds. Wealth managers across the spectrum have a long way to go ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
More than $17.4 million has been made in compensation payments to retail clients affected by legal breaches by eight retail OTC derivative issuers, $13 million of which was paid by Binance alone. ASIC said the payments have been made to more than 2000 ...

Future Fund exposed to dangerous Chinese investments: Opposition

ANDREW MCKEAN  |  TUESDAY, 7 NOV 2023
The Future Fund holds stakes in over 50 Chinese companies with links to human rights abuses and national security threats, associated with the People's Liberation Army, involved in the oppression of Uyghurs in Xinjiang, and invested in sanctioned ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... AFCA said it may hold the party that breached the non-apportionable claim entirely responsible for losses arising from the breach. AFCA also has the power to join a party to the complaint if it may be liable for losses. "If a complainant has brought ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
Two businesses tied to permanently banned Sydney director David Sutton have been charged in separate proceedings following an investigation by ASIC. APC Securities, previously known as McFaddens Securities, and Brava Capital, formerly Dayton Way Securities ...

Caddick victims sue auditors in class action

KARREN VERGARA  |  MONDAY, 30 OCT 2023
... reports. Filed in the Federal Court of Australia in Sydney on October 27, the litigants allege that the auditors engaged in breach of contract, negligence, and misleading or deceptive conduct or representations. Justice Markovic is set to preside over ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
... most of these clients earned less than $80,000 a year. In recent years, ASIC has also successfully brought proceedings for breach of the Corporations Act against several CFD licensees operating in Australia, with penalties in excess of $75 million. In ...

ASIC loses case against Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 OCT 2023
... the case as, during the period of conduct, Diversa was a OneVue company. However, the Federal Court found Diversa did not breach its duty to act efficiently, honestly, and fairly, nor did it fail to take reasonable steps to ensure authorised representatives ...

ASIC bans former PwC partner over tax scandal

CASSANDRA BALDINI  |  MONDAY, 23 OCT 2023
Disgraced former PwC head of international tax Peter-John Collins has been banned from providing financial services or controlling an entity that carries on a financial services business for eight years. At the start of the year, Collins was barred ...