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Showing 41 - 50 of 515 results for "Powers"

Regulators given new powers to protect financial markets in crises

ANDREW MCKEAN | FRIDAY, 23 AUG 2024

The government has passed legislation that will put in place new powers for regulators to protect financial market infrastructure in the event of a crisis. Treasurer Jim Chalmers said the new laws will provide regulators with more powers to manage financial ...

ASIC proposes cash equity clearing and settlement rules

ANDREW MCKEAN | TUESDAY, 30 JUL 2024

... provided by the ASX Group. The corporate regulator's release of the consultation paper marks the first exercise of its new powers under the competition in CS reforms. These reforms permit ASIC to establish rules for the activities, conduct, and governance ...

ASIC levy to slug advisers $48.4m

KARREN VERGARA | TUESDAY, 9 JUL 2024

... 2019, the federal government injected an additional $400 million into ASIC to cover four years. It also expanded ASIC's powers. "However, evidence to the inquiry suggests that the increases to ASIC's resourcing have not resulted in a marked uplift in ...

Committee calls for 'sick agency' ASIC to be split in half

JAMIE WILLIAMSON | THURSDAY, 4 JUL 2024

... regulator has "comprehensively failed to fulfil its regulatory remit", calling for a complete overhaul of its structure, powers and how it's funded. In October 2022, the Senate referred an inquiry into the capacity and capability of ASIC to proportionately ...

New NALE rules, AFCA's super powers passed

KARREN VERGARA | THURSDAY, 27 JUN 2024

... that it did. The court unanimously sided with MetLife. While the court acknowledged it must consider the purpose of the powers given to MetLife, that consideration "must begin and end, however, with the statutory text." The new law will take effect on ...

Financial advice profession 'lacks consistent protocols'

ELIZA BAVIN | TUESDAY, 25 JUN 2024

... whistleblower protection laws, harmonising the current state-based laws to be national, establishing a national register of Powers of Attorney and development a standard identification, reporting and escalation framework. Financial abuse affects a significant ...

ASIC issues first stop order for crowd funding

ELIZA BAVIN | THURSDAY, 13 JUN 2024

... public interest to protect retail investors looking to invest in the offer. This is ASIC's first use of its stop order powers in relation to a CSF offer under the Corporations Act 2001 (Corporations Act). ASIC acted in relation to Hirehood's ...

The rising role and risks of generative AI

ANDREW MCKEAN | WEDNESDAY, 15 MAY 2024

... regulation is necessary, though Davis thinks 80% of the market's challenges are already addressed by existing regulatory powers. Therefore, it's important to communicate clearly about the use and governance of AI to meet market expectations and build ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN | TUESDAY, 30 APR 2024

... resourced and unlike just about any other country in the world, quite happy to take ASIC on," he said. "From time to time our powers are challenged in the courts, sometimes all the way up to the High Court. That's a resource-intensive activity." Longo ...

Government introduces company merger overhaul

ANDREW MCKEAN | WEDNESDAY, 10 APR 2024

... "We will simplify and speed up the process for mergers that are in the national interest and give the regulator stronger powers to identify and scrutinise transactions that pose a risk to competition, consumers, and the economy," Chalmers and Leigh said. ...

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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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