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Showing 41 - 50 of 1718 results for "disclosure"

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
... to invite more than 800 clients to annual review meetings when they were entitled to attend; failed to provide fee disclosure statements to more than 500 clients; issued over 3000 non-compliant fee disclosure statements to more than 2000 clients; and ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
Mercer Financial Advice will pay $12 million after the Federal Court found it failed to meet some disclosure obligations and charged almost $5 million in fees to clients when it was not entitled to do so. Mercer admitted that, between July 2016 and ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... have a legal obligation to be licensed. "The licencing regime requires financial services businesses to meet important disclosure, design and distribution obligations," Court said. "Anyone dealing in a financial product or providing financial advice ...

Key advice reforms still coming, Jones promises

JAMIE WILLIAMSON  |  WEDNESDAY, 22 NOV 2023
... tranche of draft legislation - which included flexibility around the provision of Financial Services Guides and Fee Disclosure Statements - was simply "what we could get out the door as quickly as possible." He also added that policy confirmation and ...

Pacific Current Group wraps up buyout talks

JAMIE WILLIAMSON  |  THURSDAY, 16 NOV 2023
... of the uncertainty around the strategic process as we have made no material change to remuneration arrangements or disclosure over the last 12 months." PAC saw its share price surge throughout the transaction process, jumping as high as $11.33, but it's ...

Uniseed partners with major Aussie universities

CASSANDRA BALDINI  |  WEDNESDAY, 15 NOV 2023
Uniseed has joined forces with major Australian universities, doubling the number of research partners in the fund. Monash University has joined Uniseed as its full partner, along with the University of Newcastle, University of Technology Sydney, Western ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... the streamline of ongoing fee renewal and consent requirements, including removing the requirement to provide a fee disclosure statement (Recommendation 8) and flexibility on delivering a Financial Services Guide (FSG) (Recommendation 10). The legislation ...

GQG's PAC acquisition attempt hits snag

KARREN VERGARA  |  MONDAY, 13 NOV 2023
... completed. PAC notes that GQG, River Capital and other parties in the process remain subject to standstill and non-disclosure agreements," PAC said. In March, Regal Partners joined forces with River Capital to make a non-binding indicative offer to acquire ...

ASIC charges HESTA for misleading marketing

ANDREW MCKEAN  |  FRIDAY, 10 NOV 2023
... claims regarding its Balanced Growth investment option, which boasted a 10-year performance track record without proper disclosure of the specific period in question. ASIC contends that HESTA's marketing could have led consumers to assume the performance ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
... moratorium on private litigation related to Scope 3 reporting as part of its proposed mandatory climate-related financial disclosure package has raised fears that it would give companies the green light to greenwash. Under the federal government's ...