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Showing 621 - 630 of 1827 results for "Monitor"

SMSF auditors in firing line

ELIZA BAVIN  |  FRIDAY, 14 FEB 2020
ASIC has cracked down on a number of auditors of self-managed super funds, which the regulator said have failed to meet their requirements. "ASIC has moved to disqualify, or suspend and/or add conditions to the registration of, a number of auditors ...

Problems persist with PYSP communication: ASIC

ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
... members about such important matters should not be treated as a compliance exercise." The regulator said it will continue to monitor trustee communications in relation to PYSP and related reforms and consider taking regulatory action where further issues ...

Compensation bill hits $750m

ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
Six of Australia's largest banking and financial services institutions have so far paid, or offered, a total of $749.7 million in compensation to customers, according to new data released by ASIC. The regulator said AMP, ANZ, CBA, Macquarie, NAB and ...

More engagement with custodians needed: Report

ELIZA BAVIN  |  TUESDAY, 11 FEB 2020
... valuation from the custodian provides an independent basis for comparing investment performance, enables fund fiduciaries to monitor risk, and underpins the calculation of individual member account balances. "The key is to recognise that each data set ...

Lowe snaps back at critics

ELIZA BAVIN  |  THURSDAY, 6 FEB 2020
RBA governor Philip Lowe has rejected concerns that the bank's decision to cut interest rates last year dented consumer confidence and impacted weak consumer growth. Speaking at the National Press Club, Lowe said that while he understands having rates ...

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 ...