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Showing 21 - 30 of 284 results for "Enforceable undertaking"

Insignia Financial looks to slash redundancy entitlements

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2024
... And, earlier this week, it was announced one of its superannuation RSEs, OnePath, has entered a court enforceable undertaking with APRA and paid a $10.7 million fine as it continues to identify members whose contributions weren't directed to a MySuper ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... MySuper product when they should have been; this conduct has also led to Insignia Financial entering a court enforceable undertaking with APRA, also announced today. Finally, the balance of $20 million related to historic product remediation, the company ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
OnePath Custodians is entering a court enforceable undertaking with APRA and will pay close to $11 million, as it continues to identify super members whose contributions weren't directed to a MySuper option when they should have been. APRA has agreed ...

iExtend receives AFSL after lengthy wait

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
iExtend has been granted an AFSL, after entering a court enforceable undertaking last year over concerns of unlicensed conduct. In November 2023, the life insurance startup entered a court enforceable undertaking after ASIC pinged it for possibly operating ...

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
... November last year for serious failures, resulting in a $3.1 million penalty and a requirement to enter an enforceable undertaking. However, Ascot chose not to comply. Shortly after the infringement notice was issued, Ascot ceased operating as a market ...

Adviser numbers plateau

KARREN VERGARA  |  THURSDAY, 18 APR 2024
... disciplinary action, and adviser status. The disciplinary actions break down into AFS banned/disqualification, enforceable undertaking, disqualified person, credit banned/disqualification, Financial Services Credit Panel (FSCP) action, and SMSF auditor ...

Former financial adviser sanctioned by ASIC

ANDREW MCKEAN  |  THURSDAY, 22 FEB 2024
... financial adviser Shivdeep Jaidka is under ASIC scrutiny; the corporate regulator has accepted a court-enforceable undertaking from him. After reviewing the financial services provided by Jaidka, ASIC found he failed to adhere to s961B and s961G of the ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... SMSFs and lend those funds to two companies where he was a director. Today, ASIC said it accepted a court-enforceable undertaking from former financial adviser Shivdeep Jaidka after he failed to provide appropriate SMSF advice. Jaidka most recently was ...

New chair for iExtend

CHLOE WALKER  |  WEDNESDAY, 14 FEB 2024
... start-up. The appointment comes as iExtend is in the throes of applying for an AFSL; in November it entered an enforceable undertaking with ASIC after it was found to be operating without one. For the time being, iExtend is operating under a Corporate ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
... management, insurance broking or dealing in financial products. Last November, the firm accepted a court enforceable undertaking from ASIC after the regulator found that the life insurance start-up was operating without a licence. iExtend partners with ...