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Showing 21 - 30 of 602 results for section

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... confusing about this is, under the wholesale definition, you can be wholesale by wealth [with] an accountant certificate under Section 761G (7) (C), which basically means that by having more than $2.5 million or $250,000, you are a professional investor ...

Potential reporting relief for trustees: ASIC

CHLOE WALKER  |  TUESDAY, 7 NOV 2023
... the current arrangement is operating effectively and efficiently and/or whether any amendments are required. Currently, section 29QC of the Superannuation Industry Act 1993 (SIS Act) requires that information given to the public by trustees must align ...

BBY chief charged with aiding and abetting fraud

KARREN VERGARA  |  TUESDAY, 10 OCT 2023
... June 2013. The second count relates to obtaining additional funding from November 2014 to early 2015. Each offence of section 192E(1)(b) and 346 of the Crimes Act 1900 (NSW) carries a maximum penalty of 10 years' imprisonment. The matter was adjourned ...

Provide Capital ordered to produce documents

CASSANDRA BALDINI  |  THURSDAY, 5 OCT 2023
... offering of investment opportunities to members of the public from 26 September 2020. ASIC previously sought documents under Section 33 (s 33) of the ASIC Act and subsequently issued orders as part of the ongoing investigation. However, Provide Capital ...

How to warm up for a 50-degree day

RACHEL ALEMBAKIS  |  WEDNESDAY, 30 AUG 2023
... 50-degree day via four avatars - a construction worker, a farmer, a supermarket manager, and an A&E doctor. "We wanted a cross section," Noble said. "Each one is telling a different story. The supermarket manager is telling the story about supply chains. ...

HSBC committed to local custody arm despite rapid decline in assets

JAMIE WILLIAMSON  |  TUESDAY, 22 AUG 2023
... that Australia remains an important market to its custody franchise, saying "it is not unusual to see rankings shift in a section of the market that has seen some consolidation during the last year," referring to both the superannuation and asset management ...

FSCP issues slap on the wrist to adviser

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
The Financial Services and Credit Panel reprimanded a financial adviser who inadequately assessed the consequences of rolling over superannuation and life insurance cover, labelled the panel's least serious disciplinary action yet. Keeping the adviser's ...

ASX appoints former ASIC chair to lead advisory group

CASSANDRA BALDINI  |  THURSDAY, 3 AUG 2023
Alan Cameron will serve as independent chair and lead the stakeholder group responsible for advising the ASX's clearing and settlement boards during their efforts to rectify the CHESS replacement debacle. The ASX said members of its advisory group ...

US regulators launch investigation into OpenAI

CASSANDRA BALDINI  |  FRIDAY, 14 JUL 2023
... in unfair or deceptive practices relating to risks of harm to consumers, including reputational harm, in violation of Section 5 of the FTC Act and whether the Commission action to obtain monetary relief would be in the public interest." In response to ...

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
The Financial Services and Credit Panel has ordered an audit of a financial adviser who carelessly recommended a client switch superannuation funds. Releasing its second determination since it launched, the FSCP said the unnamed adviser, only referred ...