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

Search Results

Showing 411 - 420 of 5585 results for "ASIC"

Anti-hawking exemption for advisers a 'silly carve out': SCA

MATTHEW WAI  |  THURSDAY, 21 AUG 2025
... consistency between the two because it's easy to get around hawking financial products." SCA wants the ACCC to engage with ASIC, as the consumer protection regulator for super, on its work in relation to unsolicited selling and lead generation, pointing ...

ASIC warns of 'sharp rise' in financial misconduct

MATTHEW WAI  |  THURSDAY, 21 AUG 2025
New data shows a significant rise in the number of misconduct reports made to ASIC, with more than half of the complaints impacting retail investors. ASIC's half-year reports of misconduct data shows that there were 7561 reports of misconduct from 1 ...

ASIC turns spotlight on direct life sales

KARREN VERGARA  |  TUESDAY, 19 AUG 2025
ASIC is warning life insurers to do better when it comes to their direct sales practices that have placed doubt on their compliance obligations and put consumer outcomes at risk. While some life insurance firms have improved since ASIC's 2018 review ...

Adviser banned for UGC, Shield involvement

MATTHEW WAI  |  TUESDAY, 19 AUG 2025
... his clients set up self-managed superannuation funds (SMSFs) and invest most of their retirement savings into the funds. ASIC said Rankin failed to act in the best interests of his clients in doing so, as both funds were speculative, illiquid investments ...

Commonwealth Super names chief risk and compliance officer

MATTHEW WAI  |  MONDAY, 18 AUG 2025
... legal background, Versace brings risk advisory and compliance expertise from various financial institutions including KPMG, ASIC, NAB, and Northern Trust Corporation. More recently, Versace entered the super sector as head of risk at AustralianSuper ...

ASX revenues, profits increase amid scrutiny

MATTHEW WAI  |  FRIDAY, 15 AUG 2025
... million, a 7.2% increase from FY24. It had additional operating expenses of between $25 million and $35 million resulting from ASIC's inquiry into the exchange announced in June, increasing its total expenses growth guidance for FY26 to between 14% and ...

Mercer Super sued over 'longstanding and systemic' failures

JAMIE WILLIAMSON  |  THURSDAY, 14 AUG 2025
... reported more than a year later than it should have been. Under the Reportable Situations Regime, all AFSL holders must notify ASIC of a reportable situation - in this instance, a significant breach of 'core obligations' - within 30 calendar ...

NAB fined over $15m for delaying hardship applications

MATTHEW WAI  |  THURSDAY, 14 AUG 2025
... lenders must consider varying a troubling customer's credit contract and advise the decision within specified timeframes. ASIC deputy chair Sarah Court said the decision highlights the seriousness of the negligence. "These failures likely made an already ...

ASIC calls out super 'leaders and laggards'

ELIZA BAVIN  |  THURSDAY, 14 AUG 2025
ASIC commissioner Simone Constant has told super trustees more needs to be done to meet obligations under the Retirement Income Covenant. "We are three years into the Retirement Income Covenant now. Three years since trustees have been obliged by law ...

ASIC to review RG97 to boost property supply

JAMIE WILLIAMSON  |  WEDNESDAY, 13 AUG 2025
ASIC is reviewing the need for superannuation funds to include stamp duty payments in fee disclosures in a bid to boost their investment in property. Super funds have long held concerns that obligations under Regulatory Guide 97: Disclosing fees and ...