Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 3911 - 3920 of 3923 results for "law"

ASIC takes action against Rural and General Insurance

... insurance companies, as these insurers are not regulated in Australia - it means a consumer has no protection under Australian law if something goes wrong", said Jan Redfern, ASIC deputy executive director of enforcement

Investment directors plead guilty to misconduct

... to purchase prescribed interests in the scheme without the protection of an approved deed as required by the Corporations Law. The schemes failed, resulting in the loss of nearly all of the investors' funds. Acts Net was placed into liquidation on Fenruary ...

APRA urges increase in DB funding as solvency levels fall

The Australian Prudential and Regulation Authority (APRA) is urging superannuation trustees and employers in Defined Benefit (DB) funds to increase their level of funding after finding that falling equity markets had decreased solvency rates. Although ...

Super fund director gets four year ban

... loan to a Gold Coast childcare business that later went into liquidation. At the time of the loan, QLSS was trustee of the Law Employees Superannuation Fund, which incurred losses of more than $1 million due to the default on the loan. David Knott, chairman ...

APRA warns super trustees on due diligence, members interests

... decisions made deliberately against the members' interests would be dealt with harshly, in some cases with the full force of the law. "APRA observes more often than we would like that some trustees do not rigorously observe the need to put fund members ...

ASIC appoints McLaughlins to manage $37 million property schemes

John Fernando McLaughlins Financial Services (McLaughlins) has been appointed by the Federal Court in Melbourne as the temporary responsible entity for 15 managed investment schemes worth approximately $37 million, following an application by the Australian ...

ASIC obtains permanent orders against investment directors

... has been taken by ASIC to protect the interests of investors and to ensure that schemes which are being run in breach of the law are removed from the market," said Allen Turton, ASIC director for enforcement. "Under the law, managed investment schemes ...

ASIC "disappointed" with fundraising non-disclosures

... said Richard Cockburn, ASIC director of corporate finance. "What ASIC does is to ensure that the documents comply with the law. This includes information about the potential risks and rewards. If ASIC reviews a document we think is misleading, or lacking ...

ASIC moves to prevent repetition of Groundhog scheme

... Developments, Enterprise Management Systems, and 'The Groundhog Scheme'. The scheme was not registered as required by the law, and neither Groundhog nor EMS were licensed to give investment advice or conduct a securities business. "Today's orders mean ...

Costello "sympathetic" to tighter payout regulations

Paul Cully Federal Treasurer Peter Costello today indicated that he was prepared tighten regulations governing corporate payouts as public opinion firmed against the latest in a series of controversial termination packages to Australian executives. ...