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Showing 521 - 530 of 1335 results for "Corporations"

ASIC, MLC Nominees and NULIS in court

ELIZABETH MCARTHUR  |  MONDAY, 4 NOV 2019
... to ASIC, members then received no service from financial advisers. This was a contravention of s912A(1)(a) of the Corporations Act, the regulator alleges. The two firms also failed to disclose that MLC Masterkey Personal Super members had a right to ...

ASIC wins appeal against Westpac companies

KANIKA SOOD  |  MONDAY, 28 OCT 2019
... to the consolidation of superannuation accounts. However, the judge added the Westpac subsidiaries contravened the Corporations Act in 14 of 15 customer phone calls by implying the rollover of super funds into a BT account was recommended. This came ...

AFA calls for clarity on ethics code

ELIZABETH MCARTHUR  |  WEDNESDAY, 23 OCT 2019
... laws, way above the current law," the AFA told members. "We simply do not understand how it is possible, when the Corporations Act only requires conflicts to be managed, and the law specifically permits life insurance commissions and other conflicted ...

ASIC drags former adviser to court

HARRISON WORLEY  |  THURSDAY, 17 OCT 2019
... engaging in dishonest conduct in the course of carrying on a financial services business, a contravention of the Corporations Act 2001. According to ASIC, Miller advised clients CFS Private Wealth clients to invest funds with CFS Corporation (CFS), which ...

ASIC grants compliance scheme relief

HARRISON WORLEY  |  WEDNESDAY, 16 OCT 2019
... will no longer monitor and enforce the Financial Planners and Advisers Code of Ethics. However, enshrined in the Corporations Act 2001 is an obligation for AFS licensees to ensure that their financial advisers are covered by an ASIC-approved compliance ...

CommInsure charged over hawking

HARRISON WORLEY  |  FRIDAY, 4 OCT 2019
... customers were therefore unsolicited, and thus a contravention of the hawking exceptions in section 992A(3) of the Corporations Act on the part of CommInsure. Each charges carries a maximum penalty of $21,250, meaning CBA could face up to $1,848,750 ...

Complexity of grandfathered commissions overlooked

ELIZABETH MCARTHUR  |  FRIDAY, 27 SEP 2019
... wall; however the reality is very different." Anderson points out that during the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into the FOFA legislation grandfathering was not the subject of any debate. "A detailed understanding ...

Adviser cops three-year ban

KANIKA SOOD  |  WEDNESDAY, 25 SEP 2019
... period of three years. The corporate regulator made a banning order against Kyle Jonothan Perry Marshall under the Corporations Act 2001's sections 920A(1) and 920B(2). Marshall holds a diploma of financial services (financial planning) and other qualifications ...

Investors must monitor social mood: Nikko

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
... could not ignore these kinds of events because "people are voting with their pocketbooks". He used two multinational corporations with mixed reputations to illustrate Nikko's view on considering the social impact of a holding - Kraft Heinz and Unilever. ...

FASEA ethics pose risk to managed accounts

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
... way involved in the operation of the service or the development of the portfolios," he said. Potter maintained the Corporations Act, RG 246.68 and RG 175.403 already protect against conflicts of interest and in managed accounts a best interest obligation ...