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Showing 401 - 410 of 807 results for "Corporations Act"

ASIC commences civil action against ANZ

KARREN VERGARA  |  MONDAY, 17 SEP 2018
... regulator said it is seeking a declaration that ANZ breached its continuous disclosure obligations under the Corporations Act and a pecuniary penalty order. On 1 June 2018, ANZ announced to the ASX the Commonwealth Director of Public Prosecutions (CDPP) ...

ASIC marks AFCA milestone

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... providers have joined. About 80% of members of the Credit and Investments Ombudsman Scheme have signed up. Under the Corporations Act, ASIC is required to approve material changes to the AFCA scheme and part of its role in overseeing the operation of ...

ClearView breached anti-hawking law 300k times

KARREN VERGARA  |  MONDAY, 10 SEP 2018
... a mistake" because it simply didn't understand it was breaching anti-hawking provisions prohibited by the Corporations Act. Breaching the provision amounts to a criminal offence, Orr pointed out. In early February 2018, ClearView announced it would ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... any services that weren't already freely available. ASIC believes MLC Nominees and NULIS contravened the Corporations Act by failing to ensure services were provided efficiently, honestly and fairly when it deducted the $33 million in fees, and made ...

Advisers warming up to LICs

KANIKA SOOD  |  THURSDAY, 6 SEP 2018
... over 15 years, excluding dividend payouts. Three factors have led to LIC growth. In July 2010 changes to the Corporations Act which gave greater consistency to LIC dividends Then in July 2013 FoFA legislation was passed. And SMSF sector has grown. However ...

Former MyPlanner adviser fails best interests test

JAMIE WILLIAMSON  |  WEDNESDAY, 5 SEP 2018
... obligations, nor comply with the reasonable basis requirements for financial product advice provided under the Corporations Act prior to repeal. Under the EU, Allen is also prohibited from acting as a director or manager of any kind within an AFSL for ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... those plans. In its submission, NAB accepts there had been a breach or likely breach of section 912A(1)(a) of the Corporations Act with respect to plan service fees (PSFs) deducted from member accounts with no linked adviser. NAB/MLC's PSF compensation ...

Advice firm rebrands, confirms independence

JAMIE WILLIAMSON  |  WEDNESDAY, 29 AUG 2018
... on a role at the Financial Ombudsman Service. Guided Wealth also restructured its business model to meet the Corporations Act definition of independent financial advice. Guided Wealth said it is extremely proud of the achievement, given there is currently ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... they engaged in misconduct and breached corporations law. Hodge recommended Aon Hewitt may have breached the Corporations Act with regards to three financial advisers moving clients to a choice product and out of a MySuper product. The advisers failed ...

Morgan Stanley amends false independence claims

JAMIE WILLIAMSON  |  TUESDAY, 28 AUG 2018
... and commissions from product issuers in relation to the provision of financial services and advice. Under the Corporations Act, use of the word 'independent' by anybody operating a financial service business or providing financial services is prohibited ...