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Showing 341 - 350 of 586 results for "CIV"

Former adviser jailed, ASIC posts FY18 stats

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
A former Professional Investment Services financial adviser has been jailed for dishonesty following an ASIC investigation. The former PIS financial adviser and representative Satvir Singh Birk was sentenced to two-and-a-half years' imprisonment ...

Enforceable undertakings are effective: Research

KARREN VERGARA  |  FRIDAY, 26 OCT 2018
Despite receiving a bad rap for being ineffective during the financial services Royal Commission, new research finds the majority of enforceable undertakings deter future misconduct. This is according to a joint study conducted by ASIC and the University ...

Revised penalties come down hard on white collar crime

HARRISON WORLEY  |  MONDAY, 22 OCT 2018
The Federal Government will this week introduce legislation into parliament to increase the penalties for white collar crimes. In a media release on Sunday, Treasurer Josh Frydenberg said criminal penalties were set to double in some cases, while civil ...

Hayne admonishes ASIC

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
Commissioner Kenneth Hayne criticised ASIC's negotiation strategies and tardiness in remediating misconduct that can take years to resolve and for its inability to prevent future breaches. In his interim report Hayne disapproved of ASIC's preferred ...

Elon Musk charged with securities fraud

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
Elon Musk's tweets about taking Tesla private have seen him charged with securities fraud by the US regulator. The Securities and Exchange Commission is also seeking court approval to stop Musk from serving as an officer or a director of a public company. ...

Macquarie chiefs embroiled in German investigation

HARRISON WORLEY  |  FRIDAY, 28 SEP 2018
Macquarie Group executives, including outgoing chief Nicholas Moore and successor Shemara Wikramanayake, are embroiled in a German investigation that alleges the bank was involved in a share-trading scheme. In a statement released to the ASX on Friday ...

Super funds call for grandfathering ban

KARREN VERGARA  |  THURSDAY, 27 SEP 2018
Superannuation funds are rallying to see an end to grandfathered commissions and for the regulator to impose stronger sanctions on those that fail to act in the best interests of members. In its submission to the financial services Royal Commission ...

Unlicensed financial adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 18 SEP 2018
ASIC has permanently banned an unlicensed financial adviser found guilty of aiding and abetting a financial services firm that was also unlicensed. Following more than six years of work by the regulator, former Investment Intelligence Corporation director ...

ASIC takes Dover, McMaster to court

JAMIE WILLIAMSON  |  MONDAY, 17 SEP 2018
ASIC is taking Federal Court action against Dover Financial Advisers and Terry McMaster for allegedly misleading and deceiving clients. The corporate regulator commenced civil penalty action against the disgraced dealer group and its founder on September ...

ASIC commences civil action against ANZ

KARREN VERGARA  |  MONDAY, 17 SEP 2018
ASIC has commenced civil penalty proceedings against ANZ for its involvement in an alleged criminal cartel relating to a $2.5 billion institutional share placement in August 2015. ASIC alleged ANZ failed to notify the ASX that $791 million of the $2.5 ...