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Showing 291 - 300 of 522 results for "Powers"

Panel to review financial services complaints system

DARREN SNYDER  |  THURSDAY, 5 MAY 2016
... review the financial services' external dispute resolution and complaints framework. The review will focus on the role, powers, governance, accountability and effectiveness of bodies active in helping consumers resolve disputes with financial services ...

Drop in regulator staff numbers under coalition

MARK SMITH  |  MONDAY, 2 MAY 2016
... report highlighted previous comments by Commonwealth Bank whistle blower Jeff Morris that ASIC is reluctant to use its powers against large businesses. It also highlighted how the Coalition government has cut the financial regulator's funding even though ...

Turnbull highlights ASIC resources boost in Parliament

ALEX BURKE  |  TUESDAY, 19 APR 2016
... him off but his bank is still trying to sell his house," Turnbull dismissed the idea, repeating that ASIC already has the powers to address issues like this. He said: "We are committed to ensuring that ASIC does its job, that it investigates complaints ...

Regulators defended in calls for Royal Commission

DARREN SNYDER  |  MONDAY, 11 APR 2016
... the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) had powers equal to a Royal Commission, and more in some circumstances. "What Mr Shorten is really trying to do of course is to distract ...

Senate recommends immediate adviser bans following "bitter harvest"

ALEX BURKE  |  TUESDAY, 15 MAR 2016
... hold a position of influence in a company providing a financial service or credit business," and that ASIC should be given powers to immediately suspend a financial adviser "subject to the principles of natural justice, where ASIC suspects that the adviser ...

ASIC consults on LIF powers

DARREN SNYDER  |  TUESDAY, 15 DEC 2015
Financial advisers and the life insurance industry are being asked to consult the Australian Securities and Investments Commission (ASIC) over plans that would give the regulator power to set a maximum level of upfront and ongoing commission payments ...

Senate to investigate white-collar crime

LAURA MILLAN  |  THURSDAY, 26 NOV 2015
... ASIC doesn't have the array of administrative penalties available that other jurisdictions have, let alone have strong powers to reclaim any ill-gotten gains. "For too long the sector has worn penalties of corporate wrongdoing as a cost of doing business. ...

Parliament repeals key FoFA amendments

LAURA MILLAN  |  TUESDAY, 24 NOV 2015
... the clarification of the application of the client-pays and intra-fund advice provisions and the expansion of regulators' powers to allow the Government to wind back existing exemptions to conflicted remuneration to address any future unintended consequences ...

PROFILE: NAB Financial Planning general manager Paul Fog

ALEX BURKE  |  MONDAY, 23 NOV 2015
... Fog with the tools to navigate the more complex aspects of financial planning - the murkier waters of estate planning and powers of attorney. "I remember at the time, Lend Lease owned MLC," he recalls, "and they were looking to bring in people from different ...

Financial System Inquiry response cut-out-and-keep guide

MARK SMITH  |  TUESDAY, 20 OCT 2015
... insurance. By end-2016: Develop legislation to broaden ASIC toolkit including greater banning and product intervention powers. Regulation What the government said: "The Inquiry found that while our regulatory architecture does not require major change ...