Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 551 - 560 of 5207 results for "2015-16 ASIC"

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
... on a financial services business or performing any function involved in the carrying on of a financial services business. ASIC found that Davis, in relation to derivatives, provided unlicensed advice and dealing services, and failed to act in clients' ...

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... Reviewing the compliance arrangements of 14 licensees that had few or no situations reported between October 2021 and June 2024, ASIC found licensees were generally slow to report to ASIC because they were slow to identify breaches and commence investigations. ...

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC commissioner Alan Kirkland had told financial advisers and superannuation trustees that more needs to be done to ensure better retirement outcomes for Australians. It comes after ASIC released its superannuation choice products and their focus ...

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC has released its first publication of industry-wide data reported under the internal dispute resolution (IDR) data reporting framework, flagging concerns firms are not reporting data accurately. Under the IDR framework, most licensed financial ...

Keystone Asset Management to be wound up

JAMIE WILLIAMSON  |  TUESDAY, 3 DEC 2024
... in June while it investigated potential misconduct. It initially placed stop orders on the product in February this year. ASIC believes that since February 2022, more than $480 million may have been invested in the fund by close to 6000 consumers. This ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
... Sequoia Financial Group, is one example where ASIC cancelled the AFSL for failing to pay an AFCA determination. Last week, ASIC canned the AFSL of RPD Group Advice for similar reasons in which the CSLR ended up paying $62,421 to compensate a victim. ...

Regulators warn of possible issues with FAR reporting

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
... and positions, and these responsibilities should be separately identified in the relevant FAR forms," the regulators said. ASIC and APRA also noted that there were multiple accountable persons jointly holding prescribed responsibilities - something they ...

Illegal investment scheme operator to pay $1.25m

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
... Group were operating unregistered managed investment schemes and carrying on a financial services business without a licence. ASIC said Hopkins and The A Team Property Group promoted joint venture property developments on social media, such as Facebook ...

HPI calls Hostplus, Charter Hall takeover 'cheap'

KARREN VERGARA  |  TUESDAY, 26 NOV 2024
Hostplus and Charter Hall have again extended their offer period to take over Hotel Property Investments (HPI), which pleaded with shareholders to reject the "cheap" and "half-empty" deal. HPI told shareholders that "$3.785 will be lucky to buy you ...

ASX says CHESS Release 2 costs to hit $320m

ELIZA BAVIN  |  TUESDAY, 26 NOV 2024
... proceedings against the ASX in August for allegedly making misleading statements related to the CHESS replacement project. ASIC alleged statements made in ASX announcements on 10 February 2022 that the project remained "on-track for go-live" in April ...