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

Search Results

Showing 21 - 30 of 206 results for %22Financial Markets Conduct Act%22

Investor education combats emotions: Experts

ANDREW MCKEAN  |  TUESDAY, 11 APR 2023
Superannuation funds must prioritise members financial interests, guiding emotionally driven investors towards apt solutions for investment success. Brighter Super head of advice Steven O'Donoghue says that members can be driven by emotions in their ...

Taskforce exposes rising dangers for retail investors

ANDREW MCKEAN  |  FRIDAY, 31 MAR 2023
... risk, eroding trust in sustainable finance products and leaving investors vulnerable to misleading claims and potential financial losses. Meanwhile, the taskforce noted a surge in retail fraud and scams, as the digitalisation of financial services has ...

New Australian digital assets bill to regulate crypto

ANDREW MCKEAN  |  THURSDAY, 30 MAR 2023
... full amount of their face value liabilities in accounts with an Australian ADI. Further, the Bill requires banks and financial institutions to disclose their use and management of foreign CBDCs in Australia to ASIC and the Reserve Bank of Australia (RBA). ...

NZ advisers begin new licensing regime

KARREN VERGARA  |  FRIDAY, 17 MAR 2023
... watchdog. From March 17, all financial advice providers (FAPs) must hold or operate under a full licence from the Financial Markets Authority to be able to service retail clients. Kiwi advisers previously operated under three categories: Registered Financial ...

Mining company shares manipulator sentenced

JAMIE WILLIAMSON  |  TUESDAY, 7 FEB 2023
... manipulation] is vital to maintain market integrity and promoting the confident and informed participation of investors in the financial market operated by the ASX." Cooper was sentenced in December to 15 months' imprisonment, to be released immediately ...

Government acts to regulate crypto assets

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
Crypto asset licensing and custody reforms by the government are targeting subsets outside the financial services framework. In a joint statement, treasurer Jim Chalmers and assistant treasurer and minister for financial services Stephen Jones said ...

AAT upholds AFSL cancellation

CHLOE WALKER  |  THURSDAY, 12 JAN 2023
The Administrative Appeals Tribunal (AAT) has supported ASIC's decision to cancel the AFSL of Olive Financial Markets Pty Ltd (Olive). Between 2013 and 2018, Olive operated both a managed discretionary account (MDA) service and a superannuation rollover ...

Goldman Sachs charged over ESG failures

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  WEDNESDAY, 23 NOV 2022
... decisions for participants. "Today's rule clarifies that retirement plan fiduciaries can take into account the potential financial benefits of investing in companies committed to positive environmental, social and governance actions as they help plan ...

ASIC finds shortcomings in wholesale market practices

ANDREW MCKEAN  |  WEDNESDAY, 26 OCT 2022
ASIC has released two reports on better and poorer practices in wholesale financial markets, encouraging participants in these markets to benchmark themselves against industry standards. Report 741 Conduct risk in wholesale fixed income markets (REP ...

CommSec, AUSIEX to pay $27m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 26 OCT 2022
... systems, governance and controls in place to ensure they meet their obligations to both their customers and the financial markets in which they operate. CommSec and AUSIEX both demonstrated widespread, systemic compliance failures over a nine-year period. ...