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Showing 31 - 40 of 3693 results for "Conduct"

Court rejects Provide Capital's 'illogical' application

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
... Justice Rofe dismissed Provide Capital's application that alleged ASIC did not have the state of mind required to conduct an investigation under the Australian Securities and Investments Commission Act 2001 (ASIC Act). Justice Rofe found that the ...

Wealth firm gears up to change administrator

ANDREW MCKEAN  |  TUESDAY, 2 APR 2024
Acclaim Wealth is preparing to conduct a data migration for its AMG Super Personal Pension Division next week, involving approximately 6000 members with funds under management of $1.6 billion. The migration will move these members from an old FNZ technology ...

ASIC wins greenwashing case against Vanguard

JAMIE WILLIAMSON  |  THURSDAY, 28 MAR 2024
... applied to its Ethically Conscious Global Aggregate Bond Index Fund. On March 8, the indexing giant admitted to "engaging in conduct that was liable to mislead the public and that it had made representations that were false or misleading." Today, Justice ...

Financial Conduct Authority cracks down on finfluencers, firms

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
The UK's Financial Conduct Authority (FCA) is cracking down on finfluencers as more financial services firms turn to social media to promote products and services. The financial services regulator is aiming to get on top of firms that illegally promote ...

ANZ to pay $57.5m to settle class action

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... consequences of not paying off the entirety of their closing balance. Phi Finney McDonald claimed ANZ engaged in "unconscionable conduct" causing loss and damage to ANZ credit card holders. "We believe the proposed settlement is an excellent outcome ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... other person. ASIC found that all those statements were misleading, and that Creigh had engaged in misleading or deceptive conduct. "The fact sheets contained information provided to Creigh by third parties associated with an entity calling itself Liquid ...

UK advisers told to review retirement advice processes

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
... retirement income advice, following a thematic review that found some "are not even getting the basics right." The Financial Conduct Authority (FCA) undertook the review to better understand how the retirement income advice market is functioning, whether ...

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 ...