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Showing 41 - 50 of 123 results for "ASIC Act"

ASIC detects imposter bond scam

ANNABELLE DICKSON  |  THURSDAY, 28 JAN 2021
The corporate regulator is warning investors of scam bond investment operations targeting Australian investors with claims of high yield bond investments. The scammers are claiming to be from reputable domestic and international financial firms when ...

Design, distribution obligations guide released

KARREN VERGARA  |  FRIDAY, 11 DEC 2020
The regulatory guide on product design and distribution obligations for the financial services industry has been released. ASIC's RG 274 Product design and distribution obligations aims to help consumers obtain appropriate financial products by ...

ASIC consults on consumer remediation

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
ASIC has released a consultation paper to update the regulatory guide on client review and remediation conducted by financial advice licensees. Regulatory Guide 256: Client review and remediation conducted by advice licensees will be clarified through ...

Funds management in ASIC spotlight

ELIZA BAVIN  |  THURSDAY, 19 NOV 2020
The review of competition in the Australian funds management industry is officially underway between the corporate regulator and Deloitte Access Economics. ASIC acting chair Karen Chester said the review seeks to identify where "competition is effective ...

Westpac settles two class actions

KARREN VERGARA  |  FRIDAY, 30 OCT 2020
... agreement are confidential. In 2018, the Australian Federal Court ordered the bank pay $3.3 million for contravening the ASIC Act for its involvement in the scandal.

ASIC, IOSCO report on debt capital raisings

ALLY SELBY  |  THURSDAY, 24 SEP 2020
... demand or the extent of any scale-backs, could also breach prohibitions 7.10 of the Corporations Act and part 2 of the ASIC Act. Transactions undertaken alongside or ahead of a DCM transaction may also breach prohibitions in part 7.10 of the Corporations ...

ASIC reinforces power to obtain documents

ELIZABETH MCARTHUR  |  MONDAY, 14 SEP 2020
... produce documents. The regulator said both Federal Court decisions support its position on obligations to comply with ASIC Act notices and to clearly substantiate any claims of legal or professional privilege. RI Advice sought to have a file review deemed ...

NAB fined over fees for no service

ANNABELLE DICKSON  |  MONDAY, 14 SEP 2020
... admitted to misleading or deceptive and false or misleading representations, as well as consequential breaches of the ASIC Act and the Corporations Act. NULIS and MLC ceased charging the plan service fees in November in 2018 and affected members have ...

ASIC mainly concerned with media releases: Lawyer

ELIZABETH MCARTHUR  |  TUESDAY, 9 JUN 2020
Hamilton Blackstone Lawyers managing director Cristean Yazbeck has argued that ASIC is mainly concerned with its own reputation and the media releases it can put out in relation to action on financial advisers. Yazbeck said in a paper that after ASIC ...

CBA coughs up $5m over RC case study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
... Australia ordering the bank to cough up a $5 million penalty. On Friday, the Court found that the bank had breached the ASIC Act and Corporations Act between May 2005 and December 2015 for failures relating to the package. CBA sold the AA+ Package to ...