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Showing 421 - 430 of 5592 results for "ASIC"

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 ...

Decade-long ban for UGC director upheld

MATTHEW WAI  |  WEDNESDAY, 13 AUG 2025
The Administrative Review Tribunal has upheld ASIC's decision to ban United Global Capital (UGC) director Joel James Hewish for 10 years, after he lodged a review of the ban handed down in June 2024. The Tribunal conducted two hearings since the application ...

Account number issue causes angst, undue admin work: FAAA

KARREN VERGARA  |  WEDNESDAY, 13 AUG 2025
... Consent forms missing an account number has resulted in advisers submitting a substantial number of reportable situations to ASIC that can be considered as a breach report, FAAA general manager of policy, advocacy and standards Phil Anderson said. Under ...

Former Kerr Neilson staffer pleads guilty to insider trading

KARREN VERGARA  |  WEDNESDAY, 13 AUG 2025
... Sydney's Local Court yesterday, Forrest pleaded guilty to two counts of insider trading between August and September 2024. ASIC alleged he acquired about $2.6 million of Platinum shares while in possession of inside information and encouraged others ...