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Showing 331 - 340 of 655 results for "Reference"

Adviser contravenes FoFA obligations

EMMA RAPAPORT  |  MONDAY, 20 MAR 2017
... including: failure to notify ASIC about serious non-compliance concerns regarding adviser conduct, inadequate background and reference-checking processes, and inadequate audit processes to assess whether the advice complied with the 'best interest' duty ...

Major ASIC project finds serious financial advice concerns

ALEX BURKE  |  FRIDAY, 17 MAR 2017
... have access to the compliance records of previous licensees. ASIC highlighted the Australian Bankers' Association's reference checking and information sharing protocol as a positive step, but noted that its scope is limited to subscribers. At the time ...

Credit Suisse fined for systems mishap

KARREN VERGARA  |  THURSDAY, 16 MAR 2017
Investment bank Credit Suisse was slapped with a $170,000 fine from the Australian Securities and Investment Commission for failing to have the appropriate price limits in place across its automated order processing (AOP) systems. The watchdog found ...

Emerging markets investment grows with new fund

JAMIE WILLIAMSON  |  WEDNESDAY, 8 MAR 2017
... of aligned interests," Mercer said. The Emerging Markets Sustainable Leaders Fund has been constructed with limited reference to its benchmark, the MSCI Emerging Markets Index, with key holdings including Woolies in South Africa, Bank Zachodni in Poland ...

False ASIC licensing claims lead to closure

JAMIE WILLIAMSON  |  WEDNESDAY, 8 MAR 2017
A Melbourne-based financial planner closed his website following an investigation by ASIC. Stephen Burgin, an authorised representative of Interprac Financial Planning, falsely claimed to be a 'senior ASIC licenced adviser' and an 'ASIC licenced fractional ...

Westpac faces lending practices breach: ASIC

KARREN VERGARA  |  THURSDAY, 2 MAR 2017
The Australian Securities and Investment Commission is taking Westpac to the Federal Court for allegedly breaching home-loan responsible lending practices. Between December 2011 and March 2015, the regulator claims Westpac failed to properly assess ...

Open data would protect advice industry: Adviser Ratings

JAMIE WILLIAMSON  |  FRIDAY, 24 FEB 2017
... should be a registry of misconduct for licensees to refer to as part of their onboarding process, to ensure standardised reference checking across the industry and protect not only consumers but also other advisers. "In instances where an adviser has ...

Super must continue excellence path: O'Dwyer

JAMIE WILLIAMSON  |  FRIDAY, 17 FEB 2017
... to go in defining the objective of superannuation. "The area that we think is currently lacking is that there is no reference to either adequacy, or what we would like to call the idea of secure and dignified retirement, which gives some level of comfort ...

Senate committee files views on super objective

EMMA RAPAPORT  |  THURSDAY, 16 FEB 2017
... considerable debate around whether the rate of compulsory superannuation should be increased to 12%, and made specific reference to the lack of consultation which occurred through the Murray Financial System inquiry. The majority of submitters welcomed ...

Industry funds blame ATO for super underpayment

EMMA RAPAPORT  |  WEDNESDAY, 25 JAN 2017
Industry superannuation funds are blaming inadequate compliance measures by the Australian Taxation Office for the chronic underpayment of super contributions by employers. At a Senate inquiry in Melbourne today, Industry Super Australia (ISA) stated ...