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

Search Results

Showing 471 - 480 of 4124 results for "Conduct"

ASIC warns it can't take action on every case of misconduct

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... satisfy yourself that you are operating within the law," he said. "That is, you have the appropriate licences - and that you conduct your business in accordance with the regulatory obligations that apply at any point in time. "Where we see misconduct ...

Financial services class actions surge

JAMIE WILLIAMSON  |  WEDNESDAY, 20 MAR 2024
... 2021. Interestingly, in 2023 there were no class actions filed against a major bank. Instead, they covered superannuation, conduct in selling complex financial products, shareholder class actions, and data breaches. On 22 December 2023, a class action ...

ASIC bans Queensland financial adviser

ELIZA BAVIN  |  WEDNESDAY, 20 MAR 2024
... superannuation fund (SMSF) clients to invest their superannuation in a financial product. ASIC found that Rose engaged in conduct that was dishonest, determining Rose knew funds had been deposited for the purpose of investing in a financial product and ...

Mayfair 101 regains control of assets, liquidators abandon claims

JAMIE WILLIAMSON  |  MONDAY, 18 MAR 2024
... settlement makes clear that ASIC, the liquidators and Vasco misrepresented the affairs of the companies and mischaracterised my conduct and my character. They overrode the formal written directions of IPO Wealth's unitholders - who voted on putting ...

ATO refers SMSF auditors to ASIC

JAMIE WILLIAMSON  |  THURSDAY, 14 MAR 2024
Fifteen self-managed super fund (SMSF) auditors have been reprimanded for performing in-house audits. The Australian Taxation Office (ATO) referred 15 SMSF auditors to ASIC following a review of files from audit firms. ASIC said it had concerns that ...

Sexism in the City: UK financial sector slammed

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAR 2024
... should be required to explain the gap and publish an action plan, the report recommends. It also recommended the Financial Conduct Authority and Prudential Regulation Authority drop plans for businesses to report on diversity and set targets. "These ...

Bitcoin hits fresh high as investors await halving event

ELIZA BAVIN  |  WEDNESDAY, 13 MAR 2024
... boost was underscored by an increased acceptance of Bitcoin by mainstream financial institutions with the UK's Financial Conduct Authority (FCA) approving crypto ETNs this week and spot Bitcoin ETFs being approved by the Securities and Exchange Commission ...

Experts issue warning over AI washing

ANDREW MCKEAN  |  MONDAY, 11 MAR 2024
... special counsel Sarah Butler says that under the ASIC Act 2001, a corporation must not, in trade or commerce, engage in conduct concerning financial services that's misleading or deceptive. "... AI technology can be quite complex, but the law isn't murky ...

Islamic Bank hands back licence

JAMIE WILLIAMSON  |  THURSDAY, 7 MAR 2024
... authorised deposit-taking institution (RADI). This "allows an entity time to develop resources and capabilities and to conduct limited banking business during its start-up phase," according to APRA. Deposits are limited to under $2 million dollars for ...

Overhaul of TPD structure, pricing needed: MLC Life

CHLOE WALKER  |  WEDNESDAY, 6 MAR 2024
Close to half of Australian workers have three months or less savings to get them through a disability impacting their ability to work, and women are particularly at risk, according to new research by MLC Life Insurance. The research, conducted by Freshwater ...