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Showing 291 - 300 of 813 results for "Corporations Act"

Pershing convicted for client breaches

ANNABELLE DICKSON  |  THURSDAY, 6 AUG 2020
... client money obligations between June 2016 and December 2018. Pershing pleaded guilty to three breaches of the Corporations Act and the Corporations Regulation. Pershing was fined $15,000 for a breach where the transferring sale proceeds from international ...

Regulatory, legal exam questions trip up advisers

ELIZABETH MCARTHUR  |  MONDAY, 3 AUG 2020
... advisers were most likely to underperform. Understanding the application of the FASEA Code of Ethics and the Corporations Act to advice scenarios also proved challenging to many. So too did the identification of client bases and how they may influence ...

ASIC terminates illegal investment scheme

ALLY SELBY  |  WEDNESDAY, 29 JUL 2020
... their family which need to be investigated further. The Federal Court found that the defendants contravened the Corporations Act by operating the unregistered scheme and also failed to hold the required AFSL to do so. It has barred the defendants from ...

ASIC suspends OTC derivatives issuer

ANNABELLE DICKSON  |  TUESDAY, 21 JUL 2020
... retail over-the-counter derivatives issuer operating as USGFX is suspended until September 23 under 915B of the Corporations Act 200 because it is under external administration. A spokesperson for the company said the administration was due to the actions ...

Forex Capital to face Federal Court

ALLY SELBY  |  FRIDAY, 17 JUL 2020
... $420,000. The regulator also alleges that Forex Capital "contravened a ban on conflicted remuneration under the Corporations Act by paying account manager bonuses primarily based on client 'net deposits' (total client deposits less withdrawals) ...

Changes to advice incoming: Bragg

ELIZA BAVIN  |  THURSDAY, 16 JUL 2020
... Senator Andrew Bragg has confirmed legislative changes to advice are around the corner, telling Michael Rice the Corporations Act needs to be updated. Bragg, in conversation with Rice for a Financial Services Council webinar, said he is an avid user ...

AustralianSuper PYS fee under scrutiny again

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JUL 2020
... with AustralianSuper on the matter the regulator found that the fund had not breached its obligations under the Corporations Act. "We look at whether or not the fees and costs have been disclosed in accordance with the Corporations Act, we did seek further ...

WAM makes replacement bid for Keybridge

ELIZA BAVIN  |  TUESDAY, 7 JUL 2020
... costs associated with the matter. Bolton also requested the court to order a declaration that WAM breached the Corporations Act and that the transfer of the shares is void. The filing requested that WAM Active be banned from disposing of or transferring ...

Super fund members compensated

JAMIE WILLIAMSON  |  FRIDAY, 26 JUN 2020
... said: "In March 2018, Aon Hewitt Financial Advice (AHFA) voluntarily notified ASIC of suspected breaches of the Corporations Act by two of its third party authorised representatives out of a network of 185 advisers." "The breaches were notified to ASIC ...

ASIC refuses just 3% of AFSL relief applications

HARRISON WORLEY  |  WEDNESDAY, 24 JUN 2020
... report shows how it helped the law "work better for business" by granting 619 applications for relief from the Corporations Act and National Credit Act during the six month period. ASIC said the relief had a "net regulatory benefit" by facilitating business ...