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Showing 611 - 620 of 3916 results for "Law"

Wall Street firms slugged $442m for recordkeeping breach

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... oversight, often at the expense of investors. "The 11 firms settling today have acknowledged that their conduct violated the law regarding these crucial requirements and are implementing measures to prevent future similar violations. However, we know ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI  |  WEDNESDAY, 9 AUG 2023
In launching legal proceedings against eToro, the regulator said it's going after the top dog in the contract for difference (CFD) market to send a message to the industry about the importance of the design and distribution obligations (DDO). During ...

Treasury consults again on FFSP exemptions

JAMIE WILLIAMSON  |  TUESDAY, 8 AUG 2023
The government opened fresh consultation on its plans to introduce new licensing exemptions to foreign financial services providers. Treasury has opened consultation on Treasury Laws Amendment (Measures for Future Bills) Bill 2023: Licensing Exemptions ...

Government cracks down following PwC scandal

CASSANDRA BALDINI  |  TUESDAY, 8 AUG 2023
Tax agents found evading laws could face over $780 million in penalties following the ongoing fallout of the PwC scandal. In what's being called the biggest crackdown on tax agent misconduct in Australian history, the government has bumped up fines ...

Treasury kicks off managed investment scheme reforms

KARREN VERGARA  |  TUESDAY, 8 AUG 2023
The $2.7 trillion managed investment scheme industry is set for a shakeup as a new review is proposing changes that include amending financial thresholds, and liquidity and insolvency requirements. Assistant treasurer Stephen Jones has opened consultations ...

ASIC takes Dixon Advisory director to court

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
... URF fund. Commenting on the latest in the saga, ASIC deputy chair Sarah Court said directors have responsibilities under the law to act in the best interests of their company, and this includes considering the interests of creditors when the company ...

ACCC slams door on ANZ, Suncorp deal

CASSANDRA BALDINI  |  FRIDAY, 4 AUG 2023
... scheduled for release on Monday, pending confidentiality checks with the concerned parties. According to Australian competition law, if the ACCC decides not to grant authorisation, the decision can be reviewed by the independent Australian Competition ...

Advice from Shartru failed best interests duty, ASIC says

JAMIE WILLIAMSON  |  MONDAY, 31 JUL 2023
ASIC has imposed additional licence conditions on dealer group Shartru Wealth Management, saying representatives have not been adequately supervised, leading to some financial advice provided failing the best interests duty. The additional conditions ...

VFMC chair to retire

JAMIE WILLIAMSON  |  FRIDAY, 28 JUL 2023
The chair of the Victorian Funds Management Corporation will retire at the end of the month, with an interim replacement appointed. James MacKenzie has served as chair of VFMC since June 2015 but will retire from the board on August 23. During his tenure ...

Industry grapples with looming cyber threats

CHLOE WALKER  |  THURSDAY, 27 JUL 2023
... finding several concerning gaps including incident response plans not being regularly reviewed or tested. Bright Corporate Law principal David Jacobson says serious penalties and costs can apply to licensees who fail to protect confidential and sensitive ...