Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 651 - 660 of 3917 results for "Law"

Director banned for eight years

CHLOE WALKER  |  TUESDAY, 13 JUN 2023
The director of investment manager Foxi Capital has been banned from providing financial services for eight years after it was found he lacked relevant qualifications and experience, and misled investors. Foxi Capital director and Responsible Entity ...

Industry bodies respond to QAR recommendations

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... fit-for-purpose advice records that are more meaningful for consumers. Given that the government will still need to clarify the law to ensure super funds can safely and helpfully answer simple questions from people approaching retirement, Super Consumers ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... of fees should be removed," she said. "The new best interests duty would be a true fiduciary duty that reflects the general law and will not include a safe harbour. This duty will apply only to financial advisers (relevant providers)." Jones said trustees ...

Advice practice valuations rise: Radar Results

KARREN VERGARA  |  FRIDAY, 9 JUN 2023
Valuations for financial advice firms have increased in the year to June, defying expectations that inflation and wider economic conditions would dampen demand and prices. The findings are based on Radar Results' latest data, which saw a 6% to 11% increase ...

Super funds consider future of PwC contracts

RACHEL ALEMBAKIS  |  THURSDAY, 8 JUN 2023
... matter, in which PwC senior partners shared information obtained during a confidential consultation with Treasury concerning tax law changes, has been escalated. In response, AustralianSuper became the first superannuation fund to freeze any new contracts ...

Coinbase sued as US crackdown continues

JAMIE WILLIAMSON  |  WEDNESDAY, 7 JUN 2023
... whose assets were part of the pool. Coinbase failed to register its offers and sales of this staking program as required by law." SEC chair Gary Gensler said it's believed Coinbase commingled and unlawfully offered exchange, broker-dealer, and clearing ...

Senate Committee rethinks franking credit changes

ANDREW MCKEAN  |  TUESDAY, 6 JUN 2023
The Senate Economics Legislation Committee has urged the government to review laws that would impact franked dividends funded by capital raisings. In February, the government tabled the Treasury Laws Amendment (2023 Measures No.1) Bill 2023 which among ...

SEC sues Binance, chief executive

JAMIE WILLIAMSON  |  TUESDAY, 6 JUN 2023
... entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law," said SEC chair Gary Gensler. "As alleged, Zhao and Binance misled investors about their risk controls and corrupted trading ...

Economists divided over cash rate decision

ANDREW MCKEAN  |  MONDAY, 5 JUN 2023
Accelerating wages growth and higher than expected inflation would perhaps indicate an increase is justified, however, the economic hardships faced by Australians is intensifying. According to an economic misery index by the University of Melbourne ...

Vanguard fined for defective account statements

KARREN VERGARA  |  MONDAY, 5 JUN 2023
A US regulator has slapped Vanguard with a fine for issuing false and inaccurate account statements to 8.5 million US customers. The Financial Industry Regulatory Authority (FINRA) found that the fund manager overstated the yield and projected annual ...