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Showing 381 - 390 of 1335 results for "Corporations"

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... its actions against Rest and Statewide Super, ASIC is seeking pecuniary penalties, alleging the funds breached the Corporations Act and ASIC Act. In December 2020, the Financial Sector Reform (Hayne Royal Commission Response) Bill was passed, delaying ...

Dover, McMaster hit with $1.4m penalty

KARREN VERGARA  |  FRIDAY, 5 MAR 2021
... ASIC's claims that from around 25 September 2015 to around 30 March 2018, Dover breached several sections of the Corporations Act because the policy contained a clause that did not provide the maximum protection available to clients, and instead ...

ASIC takes Statewide Super to court

JAMIE WILLIAMSON  |  THURSDAY, 4 MAR 2021
... since November 2018 the leadership team knew it was to determine whether the issue was reportable to ASIC under the Corporations Act. ASIC says that deducting premiums for cancelled insurance cover deprived the impacted members of the value of the premiums ...

ASIC drags CommSec to court

ELIZABETH MCARTHUR  |  MONDAY, 1 MAR 2021
... systemic compliance failures at the trading platform and that CommSec and AUSIEX breached the market integrity rules, Corporations Act and ASIC Act. ASIC alleges the conduct spanned a significant period of time and involved failures across multiple systems ...

ASIC extends olive branch to inside traders

KANIKA SOOD  |  WEDNESDAY, 24 FEB 2021
... the Commonwealth Director of Public Prosecution (CDPP) on criminal immunity. This is for some contraventions of the Corporations Act. It has set up a hotline (+612 9911 5008), an email ( [email protected] ) and an online form for people to report. ...

Continuous disclosure laws to stay

KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... will be made permanent. In May 2020, the government announced the temporary measures, modifying provisions under Corporations Act section 674, relaxing a listed company's decision on continuous disclosures that will not attract liability unless there ...

CBA guilty of deceptive conduct

ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
... general obligation as a financial services licensee to comply with financial services laws, in contravention of the Corporations Act. CBA admitted that from 1 December 2014 to 31 March 2018 it provided customers with terms and conditions for certain ...

High Court dismisses Westpac appeal

JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
... related to super switching was personal advice, consistent with the definition outlined in section 766B(3)(b) of the Corporations Act. As a result of the campaigns, Westpac increased its funds under management by $650 million between January 2013 and ...

ASIC policy on debenture trustees inconsistent: MSC

KANIKA SOOD  |  FRIDAY, 29 JAN 2021
... been inconsistent in applying its policies while approving applications to act as a trustee under the s238GB of the Corporations Act. The section lays the requirements for trustees of unlisted debenture insurers including how much personal indemnity ...

AFCA forced into rule change

ELIZABETH MCARTHUR  |  FRIDAY, 22 JAN 2021
... to reflect the same statutory liability for licensees regarding their authorised representatives as set out in the Corporations Act and the National Consumer Credit Protection Act. The new rules will come into effect from 13 January 2021, but complaints ...