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Showing 411 - 420 of 1867 results for "Authority"

AFCA adopts user pays funding model

CASSANDRA BALDINI  |  TUESDAY, 31 MAY 2022
Adopting a 'user pays' model, the Australian Financial Complaints Authority's new funding model will see the vast majority of financial services firms pay the same or less than they have previously. The new funding model follows extensive consultation ...

Rate rise exposes adviser knowledge gap

CHLOE WALKER  |  WEDNESDAY, 25 MAY 2022
... increased education requirements, industry consensus was that the government and the Financial Adviser Standards and Ethics Authority didn't place enough value on on-the-job experience. The present economic climate stands to prove how true that is. Given ...

AFCA adopts case merit assessments

JAMIE WILLIAMSON  |  MONDAY, 9 MAY 2022
The Australian Financial Complaints Authority will permanently adopt a merit assessment process, so that complaints where no error or financial loss has occurred can be identified and excluded quickly. AFCA conducted a three-month pilot program last ...

UK regulator introduces diversity rules for listed entities

JAMIE WILLIAMSON  |  THURSDAY, 21 APR 2022
The UK's Financial Conduct Authority has finalised its rules for listed companies when it comes to disclosure of diversity on boards and executive committees. Under the rules, the boards of listed entities must comprise 40% women and at least one of ...

ASIC takes Federal Court action against Macquarie Bank

ANDREW MCKEAN  |  TUESDAY, 5 APR 2022
... ASIC deputy chair Sarah Court said: "Mr Hopkins misused Macquarie's systems by processing transactions using his fee authority to steal client funds." "Macquarie failed to properly detect and prevent these unauthorised fee transactions, many of which ...

Westpac now an open book on pay

JAMIE WILLIAMSON  |  THURSDAY, 31 MAR 2022
... remuneration, or pay secrecy, contributes to the persistent gender pay gap. According to the Workplace Gender Equality Authority, the full-time gender pay gap in financial services in Australia is 26.9% while the gap for part-time workers is around 29.5%. ...

GAM loses insto mandate

JAMIE WILLIAMSON  |  THURSDAY, 31 MAR 2022
... head of GAM Fund Management Services Sean O'Driscoll said. In a separate matter, the UK's Financial Conduct Authority released details of the $16 million fine it handed GAM in December 2021 for failing to adequately manage conflicts of interest ...

Greater independence for TPB

ELIZABETH MCARTHUR  |  MONDAY, 28 MAR 2022
... November 2020 response to the review, this is being achieved efficiently, by avoiding the establishment of a new statutory authority and implementing changes that retain the flexibility and agility of current arrangements," Sukkar said. "Tax practitioners ...

ASIC releases latest adviser exam results

JAMIE WILLIAMSON  |  FRIDAY, 25 MAR 2022
... time the exam had been administered by ASIC following the dissolution of the Financial Adviser Standards and Ethics Authority at the end of 2021. ASIC said close to 20,000 candidates have sat the exam to date, with 91% passing. That said, analysis of ...

Regulators fret over hobby traders

ELIZABETH MCARTHUR  |  WEDNESDAY, 23 MAR 2022
... through capital markets is a positive development for the overall economic progress". It cites a UK Financial Conduct Authority paper which found that many consumers would benefit from investing a portion of savings rather than simply holding cash - ...