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

Search Results

Showing 551 - 560 of 794 results for "fraud"

APRA drafts new super guidelines

ELISE BURGESS  |  TUESDAY, 13 SEP 2011
... specified compassionate grounds and industry guidelines on handling the risks of illegal early release and identity theft or fraud. APRA said guidance needed to be updated after a high level of legislative changes introduced since the previous issue ...

Market Wrap - Morning

AAP  |  MONDAY, 12 SEP 2011
US stocks plunged on Friday, with the Dow Jones Industrial Average sliding more than 300 points, as global stock markets were stung by fresh anxiety in the eurozone over Greece's bailout. The Dow fell 303.68 points (2.69 per cent) to close at 10,992.13. ...

Fraud firm masquerades as financial advisors: ASIC alert

ALISON BEVEGE  |  THURSDAY, 18 AUG 2011
The Australian Securities and Investment Commission (ASIC) has issued a warning on a fraudulent financial advisory firm. ASIC has shut down Frontline Financial Planning's website which posted the Australian company number and Australian financial services ...

Large super funds 'obstruct' withdrawals

ALISON BEVEGE  |  THURSDAY, 11 AUG 2011
... Superannuation Funds of Australia rejected the notion, saying funds were just being careful with member funds to protect them from fraud. "The area where the most identity theft has occurred... is where money is rolled into an SMSF set up for improper ...

SPAA calls for fraud net to be cast wider

MATT WOODINGTON  |  TUESDAY, 9 AUG 2011
... super funds, unable to access compensation. The last resort compensation scheme that applies to APRA regulated funds on fraud and theft, should be extended to cover all investors with product providers subject to the scheme too, said SPAA. "We understand ...

Industry super funds show patchy approach to emergency reserves

ALISON BEVEGE  |  WEDNESDAY, 3 AUG 2011
... reserves had increased by 37.5% since 2008 to $1.2 billion by the end of June 2010. The reserves provide a buffer against fraud, administration mistakes such as pricing errors and other unforeseen events that need ready cash to settle. Large differences ...

Wolf of Wall Street can't put a price on value

MATT WOODINGTON  |  TUESDAY, 2 AUG 2011
... and integrity and you're not staying true to who you are, it will not last." In 1998 Belfort was indicted for securities fraud and money laundering, spending just shy of two years in a federal prison and ordered to pay back $100 million to victims of ...

Astarra director convicted by NSW Supreme Court

ALISON BEVEGE  |  MONDAY, 25 JUL 2011
... Garling convicted the 36-year-old Canadian-born investment manager of two counts of dishonest conduct over the Trio Capital fraud. Investors lost $180 million from two investment funds managed by Trio Capita, namely Astarra Strategic and ARP Growth. ...

Advisory firm directors may challenge ASIC ban

ALISON BEVEGE  |  THURSDAY, 7 JUL 2011
... to a three-year ASIC ban imposed after clients lost money in funds associated with the Trio Capital superannuation fund fraud. ASIC said on Tuesday it was holding financial advisers to account as gatekeepers over the loss of client funds in Astarra Capital ...

Govt closes in on phoenix super dodgers

ELISE BURGESS  |  WEDNESDAY, 6 JUL 2011
The Federal Government is moving to protect employees from losing their super to 'phoenix' companies, including making directors personally liable, after releasing draft legislation and calling for submissions from the industry. Assistant Treasurer ...