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Showing 301 - 310 of 1678 results for "Breach"

Credit Suisse fined $575m by regulators

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
... Meissner. This followed it being the subject of several scandals, including the Archegos and Greensill Capital collapse and a breach of its COVID rules by its then-chair in 2021 as well as questions around its financial position. Earlier in the year ...

ASIC sues Vanguard for greenwash in bond fund

RACHEL ALEMBAKIS  |  TUESDAY, 25 JUL 2023
... be applied and promises upheld," Court said. Vanguard said in a statement that it self-identified and self-reported the breach for both the fund and the ETF that was based on that fund (VEFI) to ASIC in early 2021 after identifying that while the fund ...

Super sector falling behind in cyber security: Podcast

CASSANDRA BALDINI  |  MONDAY, 24 JUL 2023
... global data breaches. Rao said funds have previously erred on the side of collecting more data than required, so when a breach does occur the impact is significant for members. In fact, there are three fundamental impacts, he said. The first is amplified ...

ASIC continues to reprimand SMSF auditors

CHLOE WALKER  |  MONDAY, 24 JUL 2023
ASIC has cracked down on eight self-managed superannuation fund (SMSF) auditors for breaches of their obligations. Specifically, the regulator has disqualified five SMSF auditors and imposed additional conditions on three SMSF auditors for failing to ...

APRA finalises operational risk prudential standard

ANDREW MCKEAN  |  TUESDAY, 18 JUL 2023
APRA has finalised Prudential Standard CPS 230 Operational Risk Management, which aims to enhance the ability of banks, insurers, and superannuation trustees to manage operational risks and respond to business disruptions. According to QMV legal, the ...

CBA staff head to Fair Work over WFH policy

JAMIE WILLIAMSON  |  THURSDAY, 13 JUL 2023
... affected staff remote working arrangements on mutually agreeable terms. However, CBA contends that the mandate is not a breach of Clause 37 as it "does not constitute 'major workplace change in production, program, organisation, structure, or technology ...

Advice firm revenues jump 45%

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... compliance responsibilities, he said. "Around half of advice practices surveyed are still maintaining a manual complaint and breach register - a certain drain on efficiency and a clear opportunity for the industry," Mitchell said.

Openmarkets hit with largest ever MDP penalty

ANDREW MCKEAN  |  THURSDAY, 6 JUL 2023
Openmarkets Australia has paid a $4.5 million penalty, the largest sanction ever imposed by an ASIC Market Disciplinary Panel, after contravening market integrity rules. An ASIC investigation was triggered by a series of transgressions, most notably ...

Institutions must raise the bar on cybersecurity resilience: APRA

CASSANDRA BALDINI  |  THURSDAY, 6 JUL 2023
Insights from APRA expose a lack of compliance with cybersecurity obligations is leaving hundreds of institutions open to financial crime. The regulator plans to have assessed more than 300 banks, insurers and super trustees' compliance with CPS 234 ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The disgraced director of Select AFSL, the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. ...