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Showing 611 - 620 of 927 results for "Failing"

ASIC cancels responsible entity AFSL

EMMA RAPAPORT  |  WEDNESDAY, 12 APR 2017
The Australian Securities and Investment Commission cancelled the AFSL of a responsible entity for failing to comply with a number of its key obligations as a financial services licensee. The company, DD&D Securities, is the responsible entity for Dwyers ...

ASIC cancels suspended AFSL

EMMA RAPAPORT  |  THURSDAY, 6 APR 2017
... cancelled the Australian financial services licence of Parramatta-based company Rural & General Insurance Broking for failing to comply with legal obligations and licence conditions. The regulator found the company failed to lodge annual financial statements ...

Praemium details former chief executive's sacking

KARREN VERGARA  |  THURSDAY, 6 APR 2017
Praemium's chair has detailed the difficulties he and the board faced in the lead up to sacking chief executive Michael Ohanessian. The situation came to a head in January 2017, when Ohanessian presented a lengthy document to chair Greg Camm refusing ...

Unclear disclosure costs bank $5m

KARREN VERGARA  |  MONDAY, 3 APR 2017
... Australian and Securities Investment Commission has forced Citibank to refund about $5 million to 230,000 customers for failing to properly disclose credit card international transaction fees. Citibank began charging international transaction fees in ...

Not our job to protect big insurers: APRA

ALEX BURKE  |  FRIDAY, 31 MAR 2017
... companies should be taken as a warning to established players - and APRA isn't going to protect outdated business models from failing. APRA member and former Suncorp Life chief executive Geoff Summerhayes issued this warning at the 2017 Financial Services ...

ASIC cancels AFSL licences

EMMA RAPAPORT  |  MONDAY, 27 MAR 2017
... responsibilities." In addition to the cancellations, ASIC has suspended the AFS licence for KABM until 1 May 2017, for failing to lodge financial statements and auditor's reports for three consecutive years. KABM, the owners of Sports Super, was established ...

Barclays fined following ASIC investigation

JAMIE WILLIAMSON  |  FRIDAY, 24 MAR 2017
ASIC accepted enforceable undertakings from three Barclays foreign financial service providers for failing to inform Australian clients they were exempt from holding an AFSL. The enforceable undertaking was accepted following concerns that the Barclays ...

Profit-to-member super funds must restore trust: AIST

EMMA RAPAPORT  |  WEDNESDAY, 22 MAR 2017
... 2017 Edelman global trust barometer, Scheerlinck made note of the 59% Australians who believe the democratic system is failing them, saying that this leaves the door open for profit-to-member funds to lead the way. "With a higher trust score than government ...

Adviser contravenes FoFA obligations

EMMA RAPAPORT  |  MONDAY, 20 MAR 2017
... Commission Act. This includes alleged breaches of the best interests obligations, engaging in unconscionable conduct, and failing to hold a current AFSL license. ASIC alleges that on numerous occasions since December 2015, WRM advisers have provided ...

Credit Suisse fined for systems mishap

KARREN VERGARA  |  THURSDAY, 16 MAR 2017
... Investment bank Credit Suisse was slapped with a $170,000 fine from the Australian Securities and Investment Commission for failing to have the appropriate price limits in place across its automated order processing (AOP) systems. The watchdog found ...