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Showing 21 - 30 of 698 results for "Corporations Act"

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... cancelled," the corporate regulator said. ASIC has been investigating Prospero for suspected breaches of the Corporations Act. Its investigation commenced on 16 November 2023 and is looking back as far as 1 March 2021. In December, Prospero was requested ...

Insignia Financial class action dismissed by court

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2024
... knowledge, not information withheld by the group. In all, it was determined that Insignia did not contravene the Corporations Act, nor did it "engage in misleading or deceptive conduct by silence." Shine Lawyers acknowledged the court's decision ...

Treasury to refresh financial adviser exam

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... competent, including that their advisers meet the qualifications standard," the note said. Section 921B of the Corporations Act 2001 sets out four education and training standards that relevant provides must achieve to be qualify as one. These are attaining ...

FSCP issues another registration prohibition order

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
... the client's interests". The panel has the power to make a registration prohibition order under s 921L(1)(c) Corporations Act 2001. ASIC on the other hand has more extensive banning orders under sections 920A & 920B. The FSCP recently hit Timothy Leslie ...

FSCP serves up registration prohibition order

KARREN VERGARA  |  MONDAY, 11 DEC 2023
... during the prohibition period. The panel has the power to make a registration prohibition order under s 921L(1)(c) Corporations Act 2001. Looking closer at the prohibition, Capital Advisory director and financial planner Michael Miller said that mechanics ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... raised that the life insurance start-up was operating without a licence, thus contravening section 911A of the Corporations Act. ASIC said it was also concerned iExtend had been offering to pay life insurance premiums for individuals in exchange for ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... changes to two categories, AFCA lead ombudsman Shail Singh told the Member Forum this morning. Chapter 7 of the Corporations Act looks at whether an investor is retail or non-retail. "For non-retail investors, there are two categories - wholesale and ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
... planning. Climate-related financial disclosure requirements would be drafted as civil penalty provisions in the Corporations Act. It is suggested this would "reduce uncertainty for reporting entities and encourage companies to take best efforts to use ...

Link revises financial reports after ASIC review

ANDREW MCKEAN  |  FRIDAY, 3 NOV 2023
... improve the benchmark of financial reporting, ensuring compliance with legal standards. To monitor adherence to the Corporations Act 2001 and Australian Accounting Standards, the regulator frequently conducts risk-based reviews of financial statements ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... Securities). ASIC said it is actively targeting breaches of financial reporting obligations as required by the Corporations Act. "Failure to lodge audited financial statements may result in cancellation of a licensee's Australian financial services ...