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Showing 31 - 40 of 606 results for %22Section 38Q of%22

FSCP issues slap on the wrist to adviser

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
The Financial Services and Credit Panel reprimanded a financial adviser who inadequately assessed the consequences of rolling over superannuation and life insurance cover, labelled the panel's least serious disciplinary action yet. Keeping the adviser's ...

ASX appoints former ASIC chair to lead advisory group

CASSANDRA BALDINI  |  THURSDAY, 3 AUG 2023
Alan Cameron will serve as independent chair and lead the stakeholder group responsible for advising the ASX's clearing and settlement boards during their efforts to rectify the CHESS replacement debacle. The ASX said members of its advisory group ...

US regulators launch investigation into OpenAI

CASSANDRA BALDINI  |  FRIDAY, 14 JUL 2023
... in unfair or deceptive practices relating to risks of harm to consumers, including reputational harm, in violation of Section 5 of the FTC Act and whether the Commission action to obtain monetary relief would be in the public interest." In response to ...

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
The Financial Services and Credit Panel has ordered an audit of a financial adviser who carelessly recommended a client switch superannuation funds. Releasing its second determination since it launched, the FSCP said the unnamed adviser, only referred ...

BT upgrades platform functionality

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2023
... recent changes include specie contributions to super; the addition of ESG information to the investments and research section of the mobile app and access to documents for up to three years.

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... AustralianSuper's failure to abide by the rules has sparked a call for greater transparency and action by regulators. Section 108A of the Superannuation Industry (Supervision) Act was introduced in 2013, mandating funds undertake intra-fund consolidation ...

ASIC investigates CHESS replacement blunder

KARREN VERGARA  |  WEDNESDAY, 29 MAR 2023
... obligations under several sections of the Corporations Act. This includes breaching duties of care and diligence, which under section 180 is a civil obligation, and continuous disclosure rules to determine if they were reckless or negligent in any way ...

ASIC grants MSC Trustees new powers

KARREN VERGARA  |  MONDAY, 20 MAR 2023
... MSC Trustees is the first trustee firm to be appointed as trustee under new general note authority granted by ASIC under section 283AC(1)(f) of the Corporations Act. MSC group managing director Matthew Fletcher said: "This is a fantastic development ...

Material business risk disclosure needs improvement: ASIC

KARREN VERGARA  |  MONDAY, 13 FEB 2023
... regulator was pointed out. The companies failed to sufficiently disclose such concerns in the operating and financial review section of (OFR) of the directors' report. The directors' report must disclose information that shareholders would reasonably ...

ASIC commences proceedings over failure to comply

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2022
... Provide Capital failed to produce documents as required by the notice without reasonable excuse. The regulator explained: "Section 33 of the ASIC Act allows ASIC to require the production of documents from a person, including a company. If a person fails ...