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Showing 601 - 610 of 893 results for "Failing"

Equititrust CEO remains permanently banned

KERRIE SYDEE  |  THURSDAY, 20 OCT 2016
... had occurred, when no such meeting had occurred and as a result did not meet his obligations under EIFs compliance plan Failing to take all the steps a reasonable person would take, if they were in McIvor's position, to ensure accurate, true and correct ...

Advisory firm has licence cancelled

MARK SMITH  |  MONDAY, 19 SEP 2016
Melbourne-based corporate advisory firm Allegianz has had its financial services licence cancelled by ASIC for failing to lodge financial statements and auditor reports. Allegianz's AFSL was suspended for six months in March 2016 after the company failed ...

ASIC hands down permanent and four year bans

KERRIE SYDEE  |  FRIDAY, 16 SEP 2016
... Corporations Act Woodcock was involved in this contravention by the companies Woodcock personally persuaded clients to invest by failing to disclose that around 40-45% of the money invested would be retained as a commission Both Hill and Woodcock have ...

Westpac refunds $9.2 million in unfair fees

JAMIE WILLIAMSON  |  TUESDAY, 13 SEP 2016
... after more than 160,000 customers were wrongfully charged inapplicable account fees. The refunds are a result of the bank failing to waive fees on Westpac and St. George branded savings and transaction accounts over a six year period. Between May 2007 ...

ASIC cancels AFSL, bans responsible managers

DARREN SNYDER  |  FRIDAY, 9 SEP 2016
... product or a financial service; providing personal advice to clients when they were only licensed to provide general advice; failing to notify ASIC of significant breaches within 10 days; and failing to maintain the competence to provide financial services ...

ANZ to refund millions in unlawfully charged fees

JAMIE WILLIAMSON  |  TUESDAY, 6 SEP 2016
ANZ must refund $28.8 million to customers after failing to clearly disclose when certain periodical payment fees would apply. The bank discovered it had been charging fees on transactions carried out between accounts held in customers' own names, contrary ...

Ostrava wound up, directors banned

KERRIE SYDEE  |  FRIDAY, 2 SEP 2016
... misleading statements to clients about the value of their SMSFs, providing unlicensed managed discretionary account services, failing to comply with financial services disclosure obligations and failing to act in client's best interests." The court also ...

Macquarie cops fine over van Eyk

JAMIE WILLIAMSON  |  THURSDAY, 25 AUG 2016
... fees. As the responsible entity for the van Eyk fund, it was found that Macquarie contravened the Corporations Act by failing to comply with its duties as a responsible entity of the VBI Fund which saw $30 million directed to the Cayman Islands-based ...

LICG will fight on after failing to trigger AFA constitution talks

JAMIE WILLIAMSON  |  THURSDAY, 25 AUG 2016
The Life Insurance Customer Group (LICG) has failed to trigger an extraordinary general meeting of the Association of Financial Advisers (AFA) to explore a change to the body's constitution after nearly half of the submissions it sent requesting one ...

Hedge funds battle identity crisis

DARREN SNYDER  |  MONDAY, 25 JUL 2016
... is running at about 80 to 90% with equities. Now that kind of correlation is not an alternative and that's a bit of a failing on the industry's part," Dunn says. "Providing better transparency, in terms of what it is actually driving returns that people ...