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Showing 41 - 50 of 342 results for "Investigations"

ASIC proposes further breach reporting relief

ANDREW MCKEAN  |  WEDNESDAY, 19 FEB 2025
... licensees were generally slow to report breaches, with delays driven by the time it took to identify problems and begin investigations. This was happening because of deficiencies in incident management, particularly how licensees identified, escalated ...

Industry fund insurance bungle adds fuel to mounting outrage

ANDREW MCKEAN  |  THURSDAY, 13 FEB 2025
... of industry failures. Rest's mishandling comes as other major superannuation funds have been caught up in ASIC investigations and legal action for stalling on death benefit payouts. The industry fund, which has over two million members, wrote to impacted ...

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... found licensees were generally slow to report to ASIC because they were slow to identify breaches and commence investigations. "Most licensees in the review identified and recorded very few incidents - over a three-month period, half of the licensees ...

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
... concerns about the clients suffering detriment." Kirkland said ASIC expects financial advisers undertake reasonable investigations of investment options to detect underperformance and not over-rely on advice licensee product approvals or external research ...

AustralianSuper to pay $4.2m for delayed claims handling

ELIZA BAVIN  |  THURSDAY, 21 NOV 2024
... much money they will be entitled to as part of the process. Additionally, the fund is reviewing and finalising investigations into a smaller cohort of beneficiaries who may also be affected. "AustralianSuper is committed to putting members first, but ...

ASIC escalates super fund enforcement in 2025

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... or higher returns due to a purported connection with this government scheme," she said. In 2023, ASIC's new investigations grew by 25% year on year, while civil proceedings rose 23%. This included taking action in the areas of greenwashing, cryptocurrency ...

Federal Court appoints receivers to ALAMMC Developments

ANDREW MCKEAN  |  TUESDAY, 5 NOV 2024
... McWilliams. The receivers, Helen Newman and Andrew Fielding of BDO, have been tasked with, among other things, conducting investigations into the amount of investor funds received by ALAMMC Developments and their related entities, and to provide a report ...

ANZ suspected of more mistakes amid bond saga

MATTHEW WAI  |  MONDAY, 4 NOV 2024
... including the issuance of warnings and terminations of several employees. "My immediate priority is to ensure the investigations are complete in a timely manner, that action is taken against any individuals who have not met the required standards and ...

ANZ hit with $250m capital penalty

ELIZA BAVIN  |  FRIDAY, 23 AUG 2024
... response to poor behaviour by employees in its markets business. The regulator acknowledged that ANZ has launched investigations into the issues, but said they still raise prudential concerns that the bank has not adequately addressed deficiencies in ...

ASIC locks eyes on super industry

ELIZA BAVIN  |  THURSDAY, 22 AUG 2024
... decisions about how to deploy ASIC's limited resources." Longo said in the past year ASIC had commenced around 170 new investigations - an increase of around 25% - and filed 33 new civil proceedings in the Federal Court - an increase of 27%. "Our investigations ...