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Showing 501 - 510 of 1678 results for "Breach"

Statewide not contesting ASIC allegations

KANIKA SOOD  |  MONDAY, 10 MAY 2021
The $10.8 billion industry fund will not contest ASIC's March allegations against the fund regarding administration of group insurance policies. O n March 4, the corporate regulator commenced civil penalty proceedings against Statewide alleging it had ...

APRA approves MLC super takeover

ELIZABETH MCARTHUR  |  FRIDAY, 7 MAY 2021
APRA has given IOOF the go-ahead to take over MLC's superannuation business. Yesterday, the regulator approved IOOF's application to hold a controlling stake in NULIS Nominees, the trustee for MLC Super. On 31 August 2020, IOOF entered into an agreement ...

AMP trims platform fees

KANIKA SOOD  |  THURSDAY, 6 MAY 2021
AMP Australia is reducing fees on its platforms, in a bid to attract more clients. Its flagship MyNorth wrap reduced administration fees by up to 22% effective May 1 for balances above $250,000. Administration fee caps for individuals are reducing by ...

Westpac to face court over insider trading

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
ASIC has commenced civil proceedings against Westpac for insider trading on a $12 billion deal with AustralianSuper and a group of IFM entities. Westpac will face off against the regulator in the Federal Court on allegations of insider trading, unconscionable ...

Advisers to go forth with claims handling

ANNABELLE DICKSON  |  MONDAY, 26 APR 2021
... said. The regulation follows ASIC's announcement that it is seeking stakeholder feedback on updates to draft guidance on breach reporting reforms that aim to reduce industry misconduct. ASIC's draft guidance is also based on reforms made to the breach ...

IOOF licensees to take remedial action

JAMIE WILLIAMSON  |  MONDAY, 26 APR 2021
IOOF will take remedial action to address deficiencies identified by ASIC within Bridges Financial Services and RI Advice Group. During surveillance in December 2020, ASIC found 15% of client files from Bridges and 17% of files from RI Advice contained ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
The corporate regulator is seeking stakeholder feedback on updates to draft guidance on breach reporting reforms that aim to reduce industry misconduct. ASIC's draft guidance is based on reforms made to the breach reporting regime under the F inancial ...

Government opens consultation on key advice reforms

JAMIE WILLIAMSON  |  MONDAY, 19 APR 2021
... or have breached the education and training requirements or the Code of Ethics. Advisers involved in someone else's breach of a financial service law will also be referred, as will those who provide advice while unregistered and those who fail to ...

Delay breach reporting law: AFA

KARREN VERGARA  |  FRIDAY, 16 APR 2021
... about Commissioner Kenneth Hayne's recommendation that in order to help protect consumers, AFSL holders must follow breach-reporting regulations when representatives engage in misconduct. Hayne recommended that significant breaches and investigations ...

Goldsky director charged

ELIZABETH MCARTHUR  |  TUESDAY, 13 APR 2021
The founder of Goldsky Investments has been charged with engaging in dishonest conduct and operating a financial services business without a licence. Kenneth Charles Grace was charged with eight counts of dishonest conduct and one of operating a financial ...