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Showing 41 - 50 of 138 results for "ASIC Act"

ASIC outlines cybersecurity expectations

JAMIE WILLIAMSON | FRIDAY, 13 MAY 2022

Following on from RI Advice's Federal Court loss, the corporate regulator has laid out its expectations of licensees when it comes to cybersecurity. Just last week, in what was an Australian-first, the Federal Court found RI Advice failed its obligations ...

Westpac fined $1.5m for mis-selling insurance

ANDREW MCKEAN | FRIDAY, 8 APR 2022

... customers weren't liable to pay. The group also acknowledged it had failed to comply with financial services laws under the ASIC Act. Though of note, Westpac has not sold any consumer credit insurance products since 2019.

Backlash after 'unprecedented' ASIC action against Westpac

ELIZABETH MCARTHUR | THURSDAY, 2 DEC 2021

An industry group for independent financial advisers and lawyers have come out criticising Westpac over the six cases brought against it by ASIC. Slater and Gordon Lawyers is calling on Westpac to 'walk the talk', after Westpac's chief executive Peter ...

Criminal charges filed against CBA

ELIZABETH MCARTHUR | FRIDAY, 17 SEP 2021

... report from Commissioner Hayne. This is the second criminal prosecution under consumer protection provision s12DB of the ASIC Act (alleging false and misleading representations) against a bank after ASIC filed charges against ME Bank in May 2021. The ...

ME Bank faces criminal charges

ELIZABETH MCARTHUR | WEDNESDAY, 15 SEP 2021

... will next be heard in November. This is the first criminal prosecution under consumer protection provision s12DB of the ASIC Act. In February, Bank of Queensland moved to acquire ME Bank from the industry super funds that owned the bank for more than ...

ASIC settlement hits E&P profits

KANIKA SOOD | TUESDAY, 24 AUG 2021

E&P Financial Group posted a statutory loss of $18.8 million for FY21, as its ASIC settlement hit both profits and the final dividend for the year. The company's net revenue for the year was $187.9 million (2% lower than FY20) driven by lower contribution ...

Dixon Advisory to pay $8.2m to settle ASIC action

KANIKA SOOD | FRIDAY, 9 JUL 2021

ASIC will drop its September 4 Federal Court case against Evans & Dixon's financial advice arm for $8.2 million and declaration of 53 contraventions. Dixon Advisory and Superannuation Services (DASS) will pay $7.2 million in penalty and $1 million ...

Criminal charges filed against ME Bank

JAMIE WILLIAMSON, KANIKA SOOD | THURSDAY, 27 MAY 2021

... ASIC investigation. The regulator said the charges relate to contraventions of sections 12DB(1)(g) and 12GB(1) of the ASIC Act and sections 64(1) and 65(1) of the National Credit Code (Cth). Section 12DB(1)(g) relates to making false or misleading representations ...

AMP sued for charging dead clients

JAMIE WILLIAMSON | THURSDAY, 27 MAY 2021

... that was, in all the circumstances, unconscionable," ASIC said. ASIC is seeking declarations of contraventions of the ASIC Act and Corporations Act, and is also seeking pecuniary penalties and other orders to be made by the court. AMP acknowledged the ...

ANZ, CBA settle class action

ANNABELLE DICKSON | MONDAY, 22 MAR 2021

... for a confidential and in-principle agreement and in 2018, Westpac was ordered to pay $3.3 million for contravening the ASIC Act in the BBSW saga. However, most recently ANZ was accused of paying hush money to a whistleblower regarding the BBSW scand ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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