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Showing 31 - 40 of 123 results for "Undertakings"

APRA banned one person in 10 years: Royal Commission

HARRISON WORLEY  |  FRIDAY, 17 AUG 2018
... supported her witness statement assertion that court proceedings take a long time to conclude. Rowell said enforceable undertakings were more cost efficient and timely than court proceedings. Hodge challenged Rowell, asking if an EU was sought by the ...

Super funds suit up for Royal Commission

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... to deadlock in the absence of independent directors. The "heavy reliance" on negotiated ASIC and APRA enforceable undertakings as an enforcement mechanism, and having multiple regulators responsible for conduct may be scrutinized, Steffanoni says. The ...

Mis-selling super a win for consumers

JAMIE WILLIAMSON  |  THURSDAY, 2 AUG 2018
... Consumers' Centre will receive $1.25 million from each of the institutions under the requirements of the Enforceable Undertakings they recently entered with ASIC in relation to the distribution of their respective Essential Super and Smart Choice ...

CBA, ANZ told to clean up superannuation distribution

KANIKA SOOD  |  FRIDAY, 6 JUL 2018
... "personal" advice rather than "general" advice. Commonwealth Bank and ANZ have acknowledged they have entered enforceable undertakings from the corporate regulator. Both are paying $1.25 million towards community. ASIC investigated CBA's distribution ...

Global regulation hub launched for asset managers

JAMIE WILLIAMSON  |  WEDNESDAY, 27 JUN 2018
... jurisdictions in batches over the coming months, including Australia. The firm's goal is to cover 45 jurisdictions for Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs). Topics covered include ...

Equity Trustees appoints US executive, partners in Ireland

KANIKA SOOD  |  WEDNESDAY, 13 JUN 2018
... Group as the pair launch a new Irish fund platform, aimed at giving Aussie fundies easier access to European UCITS (Undertakings for Collective Investment in Transferable Securities Directive). Equity Trustees will provide UCITS management company services ...

New Government body to advance financial literacy

JAMIE WILLIAMSON  |  MONDAY, 28 MAY 2018
... financial capability of women. The Government said further funds may be committed in the event of future enforceable undertakings by ASIC. O'Dwyer said the funds will be used to educate and empower Australian consumers of financial products and advice ...

RECAP: Advice in the Royal Commission spotlight (Days 6- 9)

KANIKA SOOD  |  FRIDAY, 27 APR 2018
... 27 April: It's a wrap ASIC sent an executive to testify on its practice of negotiating the outcomes of enforceable undertakings with financial advice licensees. At the SMSF Expo in Melbourne, SMSF Association chief executive John Maroney said: "I don't ...

ASIC grilled over negotiating with banks

ALEX BURKE  |  FRIDAY, 27 APR 2018
... line of questioning came about because of the community benefit payments made by CBA and ANZ following enforceable undertakings; both banks made payments of $3 million. Orr asked how ASIC determined, with the banks, that this was an appropriate figure. ...

Commonwealth Bank refunding millions in fees for no service

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... additional 13 advisers and 15 former CBA advisers have been the subject of ASIC banning orders and/or enforceable undertakings. As at the end of 2017, CBA has paid or offered to pay about $96 million in compensation to customers in relation to poor financial ...