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Showing 591 - 600 of 1792 results for "Monitor"

AMP to pay $5m for churn

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... a strong case against AMP. "We now have a decision from the court which agrees with ASIC's case that AMP failed to monitor and supervise its financial planners properly and in accordance with its legal obligations," he said. "ASIC believes the penalty ...

Corrupt adviser banned, AFSL canned

ALLY SELBY  |  TUESDAY, 4 FEB 2020
... objectives." The corporate regulator said it had cancelled the advisory business' AFS licence as it had failed to adequately monitor its representatives. "ASIC has also cancelled the AFS licence of Smart Solutions because the licensee failed to ensure ...

Westpac facing new class action

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
... Australia's anti money-laundering and terrorism financing regulator," Rosen Law alleges. "The company did not appropriately monitor and assess the ongoing money laundering and terrorism financing risks associated with movement of money into and out ...

The PDS is weak: Rice Warner

ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
New insights from Rice Warner claim product disclosure statements are weak in their ability to actually inform or protect consumers. Last year's report from ASIC on the matter said: "The over-reliance on disclosure in some ways proved an enabler of ...

Advisers still unclear on referral rules

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 JAN 2020
The Financial Adviser Standards and Ethics Authority Code of Ethics which came into effect from the start of the year has left many unclear on what kind of referrals are allowed. Amid news at the start of the year that Mark Bouris' Yellow Brick Road ...

Coronavirus in, climate change out: Costello, deVere

ALLY SELBY  |  TUESDAY, 28 JAN 2020
... Green said financial advisers and investors should adopt a defensive approach in the coming weeks. "Most investors should monitor the situation with their financial adviser and sit tight at present," he said. "But if it is still escalating next week ...

Chief economist update: More from Morrison

BENJAMIN ONG  |  TUESDAY, 21 JAN 2020
"Getting small businesses back on their feet is critical. We want to ensure the right support is in place for small businesses as they get past the initial recovery phase of this unprecedented bushfire crisis..." These were Australian Prime Minister ...

Faith-based super fund increases fees

ELIZABETH MCARTHUR  |  FRIDAY, 10 JAN 2020
The faith-based superannuation fund for Muslims has announced an increase to its administration fee. Crescent Wealth Superannuation Fund upped its administration fee from 0.69% per annum to 0.89% per annum. The changes come after the promoter of the ...

ASIC claims to support robo-advice

ELIZABETH MCARTHUR  |  FRIDAY, 10 JAN 2020
In a submission to the Select Committee on Financial Technology and Regulatory Technology, ASIC has claimed it is "supportive" of robo-advice, though harbours concerns around its ability to meet the best interests duty. The regulator said it has met ...

New Year, new APRA

ALLY SELBY  |  FRIDAY, 20 DEC 2019
Like many of us do nearing the end of the year, APRA has taken time for some self-reflection and assessment, identifying three areas it needs to work on next year. APRA has released its 2018/19 self-assessment report to review its key performance indicators ...