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

Search Results

Showing 431 - 440 of 893 results for "Failing"

ASIC bans adviser again

HARRISON WORLEY  |  FRIDAY, 16 AUG 2019
... again. Tarandeep Aujla has been banned from providing financial services for three years by the corporate regulator for failing to act in the best interests of his clients. According to ASIC, a review of advice Aujla provided as an authorised representative ...

ASIC fines Finclear $70,000

KRISTI CHENG, KARREN VERGARA  |  FRIDAY, 9 AUG 2019
Finclear Execution has paid a penalty of $70,000 for failing to comply with on-market buy-back rules. The Markets Disciplinary Panel (MDP) found Finclear contravened market integrity rules in relation to a pre-arranged crossing in April 2018 for an ...

Advisers to bear brunt of AMP failings

JAMIE WILLIAMSON  |  FRIDAY, 9 AUG 2019
AMP advisers planning to exercise their Buyer of Last Resort (BOLR) arrangements look set to have their business valuations slashed as part of the institution's new strategy. AMP chief executive Francesco De Ferrari said the group will look to recalculate ...

Westpac fined over reporting failure

ELIZABETH MCARTHUR  |  THURSDAY, 8 AUG 2019
APRA has handed Westpac the maximum financial penalty it can for failing to meet reporting obligations. Westpac and its subsidiaries St George Finance Holdings and Capital Finance Australia will pay more than $1.5 million after breaching requirements ...

Standard Life Assurance fined for hawking non-advised annuities

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2019
Standard Life Assurance has been slapped with a £30.8 million ($54.9m) fine by the UK regulator for hawking non-advised annuities. The Financial Conduct Authority found SLA offered its call centre staff "significant bonuses and rewards" if they exceeded ...

ASIC moves against SMSF auditor misconduct

HARRISON WORLEY  |  TUESDAY, 23 JUL 2019
... auditors, disqualifying three and imposing conditions on several others. The decisions follow concerns about SMSF auditors failing to meet requirements, including auditor independence standards, auditing standards, and minimum CPD hours. Most matters ...

Advice associations weigh in on member interests bill

HARRISON WORLEY  |  FRIDAY, 19 JUL 2019
... echoing the thoughts of Mine Super in its submission. But the AFA went further in its submission, accusing the Government of failing to conduct a cost benefit analysis to determine the proposed bill's effectiveness. AFA general manager of policy ...

350 tax practitioners under investigation

ELIZABETH MCARTHUR  |  WEDNESDAY, 17 JUL 2019
... revealed 350 tax practitioners are currently under investigation for high risk behaviour. Those high risk behaviours include failing to meet personal tax obligations, over-claiming work-related expenses on behalf of clients, egregious conduct which is ...

ASIC slams consumer credit failures

HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
ASIC's review of the sale of consumer credit insurance has lambasted the sector for consistently failing consumers in the design and sale of products. According to ASIC report 622, CCI products are being promoted and sold to customers unfairly, and ...

Remembering Ron Grima

JAMIE WILLIAMSON  |  WEDNESDAY, 10 JUL 2019
... article in December 2018, Grima criticised the Royal Commission for placing too much focus on misconduct in the industry and failing to recognise the real value of advice. Linking the argument to his own diagnosis in August 2018, Grima encouraged all ...