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Showing 541 - 550 of 807 results for "Corporations Act"

Industry receives FoFA bill with mixed feelings

LAURA MILLAN  |  THURSDAY, 20 MAR 2014
... supports the removal of the "catch all" definition of the advisers' best interest duty under section 961B(1) of the Corporations Act. "It was undefined and we would have had to wait for a court case to define it," the FPA general manager of policy and ...

Government limits general advice exemption in FoFA amendments

LAURA MILLAN  |  THURSDAY, 20 MAR 2014
... and the removal of the "catch all" definition of the advisers' best interest duty under section 961B(1) of the Corporations Act. The industry welcomed the fact that the government put "on hold" the decision to introduce amendments to permit adviser commissions ...

FoFA changes no threat to best interest duty: lawyer

JAMES FERNYHOUGH  |  WEDNESDAY, 19 MAR 2014
... The advice focuses on the removal of the 'catch-all' provision of the safe harbor section of the legislation (Corporations Act 961(B)). Following six specific points spelling out what is classed as 'best interest', the catch-all provision widens the ...

FoFA amendments will reduce quality of advice: lawyer

JAMES FERNYHOUGH  |  TUESDAY, 11 MAR 2014
... member best interest test is already enshrined in the first subsection of the legislation. "Section 961B(1) of the Corporations Act provides that an adviser must act in the best interests of the client," Halsey said, adding: "The proposed amendments ...

FPA slams detractors of best interest amendment

LAURA MILLAN  |  WEDNESDAY, 12 FEB 2014
... in the best interests of the client is already specified in section 961B and in Division 2 of Part 7.7A of the Corporations Act. "This does not in any way remove or diminish the legal obligation for a financial planner to 'act in the best interests of ...

ASIC extends short PDS relief

LAURA MILLAN  |  TUESDAY, 11 FEB 2014
... due to expire on June 22, 2014, for a further 12 months, to June 30, 2015 The full PDS requirements under the Corporations Act 2001 apply to products that have been excluded from the shorter PDS regime. ASIC has extended the relief pending a future Australian ...

Trio victims condemn Astarra director jail release

LAURA MILLAN  |  FRIDAY, 24 JAN 2014
... He criticized the Australian Securities and Investment Commissions (ASIC) decision to charge Richard under the Corporations Act, which carries a maximum sentence of five years imprisonment. Matters explained that perpetrators of welfare fraud brought ...

Australia's whistleblowing regime far from best-practice

LAURA MILLAN  |  TUESDAY, 10 DEC 2013
Australia should amend the Corporations Act to improve a whistleblowing legal regime that is "patchy, limited and far from international best-practice." Griffith University professor and whistleblowing researcher A.J. Brown asked for improvements and ...

Bankrupt adviser gets nine month ban

STAFF WRITER  |  TUESDAY, 3 DEC 2013
... appeal with the Administrative Appeals Tribunal for a review of ASIC's decision. Under section 920(A) of the Corporations Act 2001, ASIC can ban bankrupt individuals from providing financial services.

Senate to question ASIC over alleged RBA corruption

LAURA MILLAN  |  TUESDAY, 1 OCT 2013
... record is solid" and highlighted its "willingness to investigate and enforce company officers breaches of the Corporations Act." ASIC cited the actions taken after the collapse of Trio Capital and the reaction to "widespread problems" at Commonwealth ...